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.