In the federal budget ‘lock-up,’the Institute’s experts quickly analysed the Budget papers and issued a media release affirming the Institute’s position on a number of issues, while members benefited from a comprehensive budget analysis, prepared by CCH and delivered via the Institute’s Special Edition Tax Bulletin.  
 
The Institute’s budget commentary was reported across a range of media networks, including ABC, Channel Ten News, Sky News, Sky Business News and CNBC (Australia, Asia, Europe and US), and was also covered in the Australian Financial Review and the Age. 
 
From the Institute’s perspective, there were budget highlights as well as disappointments. On the positive side, it was very pleasing to see some clarity with respect to measures put in train by the previous government. Members will recall that the Institute has been calling for this clarity since the new government came to power, and is highlighted in the Institute’s pre-budget submission. 
 
Disappointments included the reversal of certain of the changes to family trust elections made by the previous government last year. 
 
For more detailed commentary on the Institute’s position regarding the Federal Budget, please see issue 18 of the Institute’s Tax Bulletin. 
 
Relevant links:

• The Institute: 2008-09 Federal Budget Summary
• The Institute: Special Edition Tax Bulletin
• The Institute: pre-budget submission
• The Institute: Lobbying: federal budget retains status quo for superannuation