Innate Financial Services Group – Budget 2016 Overview
When it is all said and done, Treasurer Scott Morrison deserves credit for handing down a federal budget which impacted many but offended only a few.
If there is a criticism, it is that this particular budget is more closely too aligned to Labor values than it is too Liberal values.
Given that within a few days the Government will dissolve Parliament and call a Federal election for 2 July, this is not your typical Federal Budget, but rather an election platform for the Government.
On the whole, Innate Financial Services Group believes it was a balanced and fair budget going into an election, and many of the initiatives – particularly the superannuation changes, the modest tax cuts and the ‘Google tax’ on multinational companies – are likely to get cross-party support from the ALP. Consequently, unlike recent past Budgets, this ‘non-Budget’ may actually get some traction.