Tax, superannuation & the economy: What does the election result mean?

Should you wish to discuss the election result will impact your investment and/or superannuation portfolio please contact Certified Financial Planner Elliot Watson on 0409 931 984. The information (including taxation) in this article does not consider your personal circumstances and is of a general nature only – unless otherwise stated.

The US economy is doing well. GDP growth is robust and the job market is strong. Yet Donald Trump’s approval rating is low, and his party is expected to lose a lot of seats in midterm elections on.

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There has been much speculation about what the passage of the tax, subsequent controversy, and then repeal of the tax means for Seattle politics and housing policy. It is impossible to predict exactly.

The Corporate Tax Rate. The house gop plan, furthermore, contained a number of significant base broadeners in order to offset the revenue lost from lower rates. The Trump plan does not have those base broadeners, and as a result its corporate income tax raises substantially less revenue than that of the House GOP plan.

The concept of ‘total superannuation balance’, which commenced from the end of 30 June 2017, is a way to value your total super interests on a given date Your total superannuation balance is relevant for determining your eligibility for: unused concessional contributions cap carry-forward.

"Bill Shorten is going to this election threatening to increase taxes on superannuation compared to what the current settings are, there is no question," Senator Cormann said.

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Next week’s budget will be the first major economic speech of the election campaign, and recent indications are that tax cuts will be a prime focus.. through tax concessions to superannuation.

This does not provide a positive outlook for economic growth. Should you wish to discuss the election result will impact your investment and/or superannuation portfolio please contact Certified Financial Planner Elliot Watson on 0409 931 984.

The company uses a weekly online panel and publishes a result. election with 42 per cent backing it in compared with 28 per cent for the Opposition. As the accompanying tables show, there is.

In those instances, going back to 1946, the S&P 500 has gained an average of nearly 6% in the final quarter of a midterm election year and 13% in the year following the election.