With a five-point plan for cost-of-living relief and a focus on improving housing affordability, the Albanese Labor Government’s first Federal Budget has been dubbed ‘The Family Budget’. While not the focus in this Budget, Australian businesses will benefit from a range of measures to address the skills shortage including higher childcare subsidies and a significant increase in funding of vocational education.

Federal Budget Debrief Webinar
Find out how the proposed Budget spending impact Australian businesses.

5 key take-outs for SMEs

1. Paid parental leave

Paid parental leave will increase but not until FY26-27. What else can you do to support parents in your workforce?

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2. Prepare for an ATO visit

The ATO has extra funding to focus on personal income tax compliance, the shadow economy and business tax risks.

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3. End of investment incentives

100% write-off on capital investment for business assets ends on 30 June 2023 so don’t delay on upgrading your equipment.

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4. Look at electric cars

The Government will cut tax on electric cars to make it cheaper for you to upgrade your vehicle fleets or utilise salary packaging.

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5. Get ready for May next year

Odds are the Federal Budget will have a lot more business tax measures.

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Key policies at a glance

Cost of
living relief

Childcare, paid parental leave and increased in award wages.


Affordable housing and a shared equity scheme.

Modern economy

Training, skilled migration and a National Strategy to Achieve Gender Equality.

Budget repair

Cuts to spending and outsourcing.


A range of actions on climate change and the environment.

Budget analysis

Small to medium business

Electric car discount and energy efficiency grants.


The focus is on multinational tax avoidance.


Stage 3 tax cuts and digital currency rules.


Expanding the Downsizer Contributions arrangements.

ATO Compliance

More funding for the ATO for high risk taxpayers and integrity measures.

2022-23 Budget spokespeople

Greg Travers, Director
Small Business and International

Jack Qi, Director
Tax – Technology and Innovation

Belinda Hudson, Director
Business Advisory – Health

Scott Girdlestone, Director
Wealth Advisory – Wealth

Ian Cattanach, Director
Business Advisory – Manufacturing

Neil Brennan, Director
Business Advisory – Property

Tricia Kleinig, Principal

For commentary on the 2022-23 Federal Budget, please direct your enquiries to

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