Federal Budget May 2021

Federal Budget 2021-2022

PERSONAL TAXATION Personal tax rates unchanged for 2021–2022 In the Budget, the Government did not announce any personal tax rates changes, having already brought forward the Stage 2 tax rates to 1 July 2020 in the October 2020 Budget. The Stage 3 tax changes will commence from 1 July 2024, Read more…

Federal Budget 2020-2021

On Tuesday, 6 October 2020, Treasurer Josh Frydenberg handed down the 2020-21 Federal Budget, his 2nd Budget. He said the Budget was “all about jobs” (including creating new jobs and getting the unemployed back into work again) and getting the economy moving again. The Treasurer said “COVID-19 will see the Read more…

JobKeeper Payment initiative: Aimed at supporting employers to retain their workforce

JobKeeper Payment initiative: Aimed at supporting employers to retain their workforce while managing through the commercial disruption of COVID-19. The latest announcement revealed that, commencing 30 March 2020, the government will underwrite/reimburse businesses $1500 each fortnight per employee the business retains through the period. Businesses will be eligible if their Read more…

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