Treasurer Josh Frydenberg has announced a Federal Budget centred heavily around infrastructure, job creation and investment incentives for business.
The 2021-22 Budget seeks to maintain the momentum of Australia’s economic recovery through supporting jobs and guaranteeing services. The Government sees it as the next stage of its economic plan to secure Australia’s recovery.
Federal Budget Debrief Webinar
What does the Federal Budget mean for Australia’s middle-market businesses?
Greg Travers and Todd Want break down the key budget measures and help you prepare strategies before it’s too late.
5 take-outs for SMEs
Invest in
capital assets
Look at your planned capital expenditure. Can you benefit from the instant asset write off?
Utilise incentives to increase employment
Will one of the announced incentives reduce the cost of taking on new employees?
Take some
breathing space
Give your business time to recover – additional finance, debt assistance and tax relief could help.
Value the women in your business
How will your business benefit from women being encouraged to return to the workforce?
Benefit from the 25% company tax rate
Companies with turnover of less than $50m will see the new tax rate from 1 July 2021.
Key policies at a glance
Jobs Growth
Packages and subsidies aimed at creating jobs across infrastructure, childcare and more.
Housing Affordability
Measures designed to make housing more affordable and reduce homelessness.
Health care
Measures targeting availability, accessibility and improvement of health services.
Digitising Australia
Over $1b will be invested as part of the Government’s Digital Economy Strategy.
Other key policies
Numerous industries will benefit from targeted support and other incentives.
Budget analysis
Small to medium business
The Federal Budget gives SMEs time and support to recover, while driving investment and encouraging job growth.
Business
Entension of key business tax measures will allow businesses to tax effectively invest in their future growth.
Individuals
Tax relief, changes to tax residency tests and simplification of self-education expense deductions are key changes for individuals.
Superannuation
The government will make a range of changes helping people to contribute to super and remove red tape.
Grants and incentives
Focuses include medical and biotech patents, emissions reduction, digital games developers, AI and women’s programs.
Economic snapshot
We explore the numbers that determine Australia’s economic position. These are the numbers that reflect how well we’ve emerged from the pandemic.
Latest Federal Budget articles
With the 2021-2022 Federal Budget announced, companies involved in driving Australia’s innovation can start planning their future research and development and commercialisation activities with greater certainty.
William Buck’s dedicated technology specialists have summarised the key items for Victorian Technology businesses in this year’s Federal budget.
2021-22 Budget spokespeople
For commentary on the 2021-22 Federal Budget, please direct your enquiries to danielle.shaw@williambuck.com
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