Budget 2014 provides tax options for the future
Budget surpluses and positive trends leave the Government and opposition parties with opposing tax options
“Ironically the fiscal conditions provide a greater opportunity for opposition politicians to leverage their platforms from than if economic conditions were more challenging,” says Deloitte CEO Thomas Pippos.
Time will tell which story is seen as the most compelling.
From a tax perspective Labour has already foreshadowed a capital gains tax, R&D tax credits and an increase in the highest marginal tax rate.
“The Government has kept its power dry – but expect something, probably targeted in keeping with the theme, when we get to the business end of the election later this year,” concludes Mr Pippos.