The 2020-2021 Federal Budget is a road to recovery paved with cash.
Key initiatives include:
- Personal income tax cuts from 1 July 2020
- A $4 billion ‘JobMaker’ Hiring Credit to encourage businesses to take on additional employees aged 16 to 35 years old
- $110 billion in infrastructure investment over 10 years
- Immediate deductions for business investment in capital assets
- Changes to how companies can manage losses
- Access to generous tax concessions for a wider range of businesses
The Budget also contains two additional Economic Support payments to pensioners and other eligible recipients to drive money back into the economy.
For our full budget summary, click here.
As always, if you have any queries or require any further information, please do not hesitate to contact us.