No major changes were announced in the 2013-14 budget which will impact on most small businesses or individuals. The proposed changes include:

• Increasing the medicare levy from 1 July 2014 to 2%
• Limiting the deductions for self-education to $2000 from 1 July 2014
• Phasing out the medical expenses offset (rebate)
• Reducing the “baby bonus” from 1 March 2014

Please contact me if you have any questions.