Our Pre-Election Tips & Advice
We’re two weeks out from the federal election, and it’s time to freeze.
Don’t do anything, small business people.
I’m telling you, this is a tax election, the first one since about 1999. It’s all about tax!
But, don’t do anything drastic, because there’s loads of things that can change post-election, whoever gets in.
Billy Shorten, if he gets in, is going to shake it up like John Howard did back in 1999 of the year 2000.
Why do nothing?
Why freeze and do nothing?
The reason is because things change once the parliament comes back together.
A great example is from ten years ago when trusts needed to change and the federal government said they were going to change the laws on how we distribute money. Lawyers went out and did seminars all over the country, hitting up accountants to change trust eds for all their clients.
Right at the end, the law came out completely different to what they’d proposed because of the machinations of the senate. So all the fuss was over nothing.
Right at the moment, two weeks out from the election, all sorts of people are saying the law’s going to change because Billy is gonna get in.
Don’t listen. Don’t do a thing.
Post-election, we’ll really know what’s going to happen.
So tune into the Tax Champion on YouTube and get on all of our social channels, because once the laws do change and we’ve got black and white rules for tax law, we will give you everything you need for small business.
But for now… wait, wait, wait. Do nothing folks. And we’ll see you in a few weeks’ time.
Pat Mannix, Partner, Paris Financial