With a focus on easing increasingly high costs of living and relieving some pressure on small businesses, the Government’s pre-election Budget provides welcomed tax breaks, cash flow support and a range of measures aimed at digitisation.
Read our comprehensive analysis below.
Federal Budget Debrief Webinar
What does the Federal Budget mean for Australia’s middle-market businesses?
Todd Want and Danielle Constantine break down the key budget measures and help you prepare strategies.
5 key take-outs for SMEs
Train your
employees
Can you use the Skills and Training Boosts for financial support to upskill your workforce?
Digitise your
business
Between the TFE and the new technology “boost”, there’s good incentive for technology investments.
Watch your
cashflow
Reductions to fuel excise and GST and PAYG instalments will increase cashflow.
Consider digitised tax reporting
It will make your life easier, but will make data matching easier for tax authorities.
Pay attention to tax risks
There is increased funding for ATO audits of larger, riskier business and transactions.
Key policies at a glance
Safer &
Cleaner
Measures designed to protect the environment and provide disaster relief.
Health, Aged Care & Education
Increased focus on Health, Aged Care, Disability and Education.
Infrastructure &
Regional
Investing in infrastructure with a focus on regional areas.
Budget analysis
Small to medium business
The Federal Budget supports investments into technology and skills training, with a boost to cashflow by tax instalment reductions.
Business
The 2022-23 Federal Budget focuses on reducing the complexity of tax and regulatory compliance for businesses, and facilitating data sharing.
Individuals
Tax relief, and more flexible parental leave arrangement are some of the key changes for individuals.
Superannuation
Removal of the $450 per month income threshold will see employers making contributions for all employees from 1 July 2022.
Grants and incentives
Focuses include expansion of the patent box regime to agricultural sector and low emissions technologies; and boosting modern manufacturing.
Workforce
The Government has announced a series of measures to support the upskilling of Australia’s workforce and address workforce shortages.
2022-23 Budget spokespeople
For commentary on the 2022-23 Federal Budget, please direct your enquiries to danielle.shaw@williambuck.com
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Be Informed is William Buck's regular newsletter, filled with up to date news and relevant advice for individuals and businesses.
