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Budget Insights

Federal Budget Release 2017: The Voice of Australian Business

"Fairness, Opportunity and Security"

The Treasurer Scott Morrison, in delivering his second Federal Budget, has committed to the principles of “fairness, opportunity and security”. Did the Treasurer succeed in delivering such a budget?  

We have consulted with industry experts to gather and share their views. This is the Voice of Australian Business. Scroll down to see their comments.

The Voice of Australian Business

Tony Battaglene, Chief Executive, Winemakers' Federation of Australia
The Winemakers' Federation of Australia has welcomed the 2017 Budget, which confirms industry reforms announced by the Government last year. The WET reform initiatives announced last year, are fully funded in 2017. Read more >
David Eaton, Western Australian Small Business Commissioner
Budgets generally set the agenda and create expectations for the year to come. I expect small business owners in WA will be pleased this year to hear the Government’s acknowledgement that economic circumstances have been, and continue to be, challenging for their businesses. Read more > 
Tim Burrow, CEO, Agribusiness Australia
Australia has a history of being coastal oriented in so far as we’ve always used the coastlines as our major transport corridors and focused on infrastructure in coastal areas. Initiatives announced in this year’s budget  – in particular the $8.4bn inland rail link and the $10bn national rail program – are key steps forward for shifting some of that focus to inland infrastructure. Read more >
Robin Allardice, Director, Bentleys Tasmania
In a further measure to tackle the black market economy, the Government has announced a ban on technology which allows businesses to falsify sales records and to avoid paying tax. Read more >
James Allen, Director Business Advisory, Bentleys SA
After some good wins for the agribusiness sector in recent budgets, the 2017 budget provides limited new incentives for the sector, and take no significant support away. Read more >
Bob Evett, Director, Audit, Bentleys NSW
Pre-budget announcements largely dulled the impact of changes to the education sector. Schools were the big winners with the government announcing a revamp of funding through “Gonski 2”. Read more >
Craig West, Executive Chairman, SME Association of Australia
The budget is an overall positive for SMEs. The extension of the instant asset write off is a good thing and should encourage further investment. Company tax cuts should do the same, but…ultimately it is about confidence. Read more >
Philip Rix, Managing Director, Bentleys WA
I think the budget strikes a balance between responsible government and social policy (affordable housing and funding NDIS). However, there is a reliance on economic growth being generated through infrastructure and this will need to monitored to ensure it is being invested in productive assets. Read more >
Pat Sparrow, CEO, Aged and Community Services Australia
There are no surprises in this year’s budget, but we believe there are some useful initiatives for the sector included. Read more>
John Morgan, Director, Assurance & Advisory, Bentleys SA
The only additional funding for aged care is $3.1 million for ICT support for the My Aged Care platform and for critical improvements in system performance. Read more >
Greg Troughton, CEO, Real Estate Institute of South Australia
The overall economic impact of the budget is expected to be expansionary for the property sector, and particularly for regional economies. Read more >
Michael Ruggiero, Managing Partner, Bentleys SA
It seems that, for residential development, the budget may help to slow things down. And if the promise of increased infrastructure investment eventuates, the budget will facilitate growth in the commercial sector. Read more >
Daniel Zadnik, Director, Bentleys Finance
The longer term benefits to business and ultimately individuals will be driven by the proposed infrastructure spending that will stimulate the economy.  Read more >
James Hyett, Partner, McLean Delmo Bentleys
Prior to the release of the 2017 Federal Budget, some thought that there would be no additional changes to the Australian immigration rules. This has been proven incorrect. Read more >

To share your views on what the Budget means for your business or for industry, please email us
To learn more about what the 2017 Federal Budget means for your business, contact your local Bentleys tax advisor.