As the Treasurer foreshadowed, this is a highly targeted budget with most spending measures targeting productivity gains. Highlights included: Tax rate for small businesses (under $2m turnover) cut to 28.5%. Franking credits still deemed to be 30%! 5% discount (paid as a tax offset capped at $1,000 per person) for individuals who receive business income as sole trader/partnership/trust. $20k asset … Read More