The 2026-2027 Federal Budget proposes some of the most significant tax and business reforms in recent memory, with changes set to roll out progressively over a few years. Following is a brief summary of the proposed changes, with some initial thoughts from our team. Remembering these announcements are still
The Federal Labor party has been elected to return to government in the new parliament for another 3 years, with a clear majority. With the power they will hold in the parliament, it is likely they will push to legislate their election promises. Whilst the details and implications of these policies are still unclear, we
Every household will get a $300 rebate on their electricity bill The $20,000 small business tax write off is to be extended to 30 June 2025 (noting it was due to end on 30 June 24 and revert to $1,000) The ATO will be permitted to delay the payment
Six important tax & business takeaways from the 2023-24 Federal Budget: 1. Energy boost to small business The Government has announced a bonus 20% deduction for small businesses (turnover less than $50 million) for expenditure that supports electrification and more efficient use of energy. The bonus is capped
Summary of Federal Budget 2022 Headline Measures 2022 Federal budget wrap – what’s in it for you and your business? The 2022/23 Budget was handed down last night by the government. While there was some targeted, boutique assistance for small business, the Budget was very much focused on
Summary of Federal Budget 2020-21 headline measures: Immediate reduction in personal income tax. This will be reflected in employees regular pay, via a reduction in PAYGW, soon after the budget is passed by parliament. Ability for businesses with turnover less than $50 million to deduct the full
