Australian Federal Budget 2020-2021

The 2019 / 2020 Federal Budget sees the Government predicting a return to surplus of $7.1 billion.

The Government is lowering taxes and increase spending with a focus on low/middle income earners, small businesses, senior Australians and transport infrastructure.

The people can benefit from:

  • Accelerated Personal Tax Cuts (Backdated to 1 July 2020)
  • Extended Instant Asset Write-Off
  • Incorporated Small Business Loss Carry Back
  • $2 Billion Additional R&D Tax Incentive
  • Expanded Small Business Tax Concessions
  • Super: Employers To Effectively Stop Offering Default Fund
  • $17 Billion Transport Infrastructure
  • Jobmaker Hiring Credit for 16-35 Year Olds
  • 100,000 New Apprenticeships With 50% Wage Subsidy

Please call our office for more information to clarify how you can benefit from the federal budget.

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