The 23/24 Federal Budget has been released and thanks to strong commodity prices it looks better than would have been expected a year ago. Some of the key areas addressed in the budget were cost-of-living, social security payments, investment in Government services and attempting to alleviate inflationary pressures, though time will judge its impact on inflation.
Read MoreThe budget handed down by the Federal Government on 11th May 2021 continued the focus that has existed for the last 12 months: Rebuild and Recovery. As we continue to navigate COVID, the Federal Government has focused their 2021 budget on relief measures to assist families and businesses while starting to rebuild their reserves. Following is a summary of the key areas that will impact both individuals and business as we move into the 2022 financial year and beyond.
Read MoreThe Federal Treasurer, the Hon. Josh Frydenberg MP, delivered his third Federal Budget on 11 May 2021. The Budget papers include a number of measures that may impact you, especially in the superannuation area. On the personal taxation front, the proposed changes include an extension to the low and middle income earner tax offset and modernising the tax residency rules. For businesses, there are proposed extensions to full expensing and loss carry back rules, as well as a number of employment boosting initiatives.
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