Federal Budget 2014/15 - Government
May 2014Reducing the size of Government
Effective: 1 July 2015
In addition to freezing wages, the Government has put in place a wide reaching program to reduce the size of Government over the next four years.
A number of changes are also scheduled to complete by 1 July 2015. These include:
Merging by 1 July 2015 |
Abolished by 1 July 2015 |
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A raft of committees within the agricultural portfolio have also been rationalised.
In addition to this, a number of government departments and authorities have had their funding slashed or initiatives deferred including ASIC ($120.1m slashed over 4 years), the Australian Taxation Office ($142.8m over 3 years) and the CSIRO.
Plus, as previously announced, Medibank Private Limited will be sold with $90m provided to help with the sale.
For more information about the Federal Budget, please contact us on 02 9957 4033 or via our contact form.
More from the Federal Budget
- Federal Budget 2014 - Survival of the Fittest
- Business
- Individuals
- Superannuation
- Health & Education
- The End of Entitlement
- Tax changes
The Economy and Infrastructure
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Last updated May 2014. This article is provided for information purposes only and should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.
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Disclaimer
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.
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