There has been a lot published in the traditional media about the 2014-15 Federal Budget’s taxation and expenditure measures including the new temporary deficit levy, the increase to the FBT rate, the company tax rate reduction, the paid parental leave levy, indexation of fuel excise, the choice to withdraw excess contributions to superannuation, increases to the superannuation guarantee charge and the medicare co-payments.
One new measure that seems to escaped much attention is the establishment of the "Entrepreneurs’ Infrastructure Programme".
The Government will provide $484.2 million over five years from 2013-14 to establish the "Entrepreneurs’ Infrastructure Programme".
The Government has stated that the program will:
"offer market and industry information, business management advice and skills from experienced private sector providers, access to researchers and innovators to re-engineer business operations, products and services, connections with supply chains and potential markets, and commercialisation advice through specialist sector expertise."
The program will be delivered together with the Industry Skills Fund through a new simplified and streamlined model for industry to interact with Government called the Single Business Service initiative.
For further information please contact:
Daniel Smedley
Principal
Sladen Legal
+61 411 319 327 | +61 3 9611 0105
dsmedley@sladen.com.au
