Presented by Firstname Surname Jobtitle/Position

1. Presented by Firstname Surname Jobtitle/Position A presentation to Client Name Date 2014 Budget summary

2. Disclaimer • <Adviser name> is not a registered tax agent. If you wish to rely on this determine your personal tax obligations you should seek advice from a Registered Tax Agent. PRESENTATION TITLE | 00 MONTH YEAR

3. 2014 Federal budget analysis 13 May 2014 3 PRESENTATION TITLE | 00 MONTH YEAR • TAXATION • Temporary Budget Repair Levy • Additional levy of 2% will be payable on taxable incomes over $180,000pa • Top marginal tax rate to 49% • Fringe Benefit Tax (FBT) rate will increase to 49% • From 1 July 2017, top marginal tax rate returns to 47%

4. 2014 Federal budget analysis 13 May 2014 • TAXATION • HELP debt changes • 1 June 2016 interest accrued @ 10 year Government bond rate, maximum rate of 6%pa • 1 July 2016, HELP debt repayments from a lower income level PRESENTATION TITLE | 00 MONTH YEAR

5. 2014 Federal budget analysis 13 May 2014 • TAXATION • Tax offsets to be abolished • Dependent Spouse and Mature Age Worker Tax offsets to cease from 1 July 2014. PRESENTATION TITLE | 00 MONTH YEAR

6. 2014 Federal budget analysis 13 May 2014 TAxation • Company tax rate to reduce by 1.5% to 28.5% from 1 July 2015. • Introduction of fuel excise indexation by CPI. PRESENTATION TITLE | 00 MONTH YEAR

7. 2014 Federal budget analysis 13 May 2014 • SUPERANNUATION • Excess non-concessional contribution (NCC) • Option for excess from 1 July 2013 to withdraw those NCC’s that exceed the cap plus the related earnings on the excess • No tax on the excess amount withdrawn • Tax on earnings @ individual’s marginal tax rate • If no election is made, the excess will be taxed under the existing regime @ top marginal tax rate PRESENTATION TITLE | 00 MONTH YEAR

8. 2014 Federal budget analysis 13 May 2014 • SUPERANNUATION • Revised SG rate increase • Increase to 9.5% will take effect on 1 July 2014 • Increase will remain at 9.5% for four years • From 1 July 2018, it will increase by 0.5%pa, before reaching 12% on 1 July 2022. PRESENTATION TITLE | 00 MONTH YEAR

9. 2014 Federal budget analysis 13 May 2014 • SOCIAL SECURITY • Increase in Age Pension age to 70 • Age Pension will increase to 67.5 from 1 July 2025 as previously legislated. It will then continue to rise by six months every two years, until the pension age reaches 70 by 2035 • Currently the Age Pension age is due to increase from 65 starting on 1 July 2017, and gradually reach 67 by 1 July 2023 PRESENTATION TITLE | 00 MONTH YEAR

10. 2014 Federal budget analysis 13 May 2014 Social security • Increasing cost of medical care • A contribution of $7 may be charged from 1 July 2015 for certain services. • Relief for holders of concessions cards and children under 16 years of age PRESENTATION TITLE | 00 MONTH YEAR

11. 2014 Federal budget analysis 13 May 2014 Social security • Family Payment Reform from 1 July 2015 • Changes to payment rates • Changes to eligibility thresholds • Changes to eligibility • Other Changes PRESENTATION TITLE | 00 MONTH YEAR

12. 2014 Federal budget analysis 13 May 2014 • SOCIAL SECURITY • Commonwealth Seniors Health Card (CSHC) changes • Current thresholds $50K singles $80K couples to be indexed from 20 September 2014 to Consumer Price Index • From 1 January 2015, the definition of income for the card will be expanded to include income from superannuation pensions assessed at pre-determined rates (deemed) • Grandfathering rules will apply. • 20 September 2014, the seniors supplement will no longer be payable. However, Clean Energy Supplement remains payable. PRESENTATION TITLE | 00 MONTH YEAR

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