Chapman Tripp’s tax clients correctly predicted that this year’s Budget would be light on tax-related matters.
That is one of the key results of Chapman Tripp’s survey of clients in April, prior to Budget release on 25 May.
We conducted an online survey, which generated a great response. A report providing a summary of our client’s key predictions and aspirations, how they tracked against what was in the Budget, and some of Chapman Tripp’s observations is attached.
Some interesting points to note include:
- the Budget was particularly light on tax-related matters
- the majority of respondents were on the money for most predictions, with the exception of the GST policy on imported goods, which did not make it in to the Budget and the changes to the individual tax rate thresholds where the Budget announced an increase in thresholds for the lower rates as opposed to across the board, and
- a discussion paper was released seeking feedback on proposals to improve the treatment of black-hole expenditure.
In addition to our client survey and subsequent publication, Chapman Tripp also produced a short summary of the 2017 Budget.