Key points in the federal budget 2021-2022
January 1, 2022
Key points in the Federal Budget 2021-2022
The Federal Budget 2021-22 has many announcements and proposals aimed at economic recovery and includes investment in jobs, essential services, business incentives and tax cuts.
Budget Highlights for Business
- Temporary full expensing measures extended until 30 June 2023 - eligible businesses can claim an immediate deduction for the total cost of depreciating assets.
- Temporary loss carry-back rules extended - eligible companies can carry back tax losses from the 2023 financial year to offset tax bills from 2019 onwards.
- Administrative Appeals Tribunal given the power to pause or modify ATO debt recovery action - reducing the legal fees and red tape for small business.
- Tax cuts - small to medium company tax rates will reduce to 25% from 1 July as planned.
- Recognition
This Christmas, we've put together another festive eBook for you to enjoy! This year, we're focusing on embracing the holiday spirit while gearing up for the year ahead. It's the perfect time to unwind, reflect, and recharge—whether you're with family, friends, or taking some quiet time for yourself. Inside, you'll find fresh ideas to liven up your holiday gatherings and meaningful ways to spend time together while creating more time, mental clarity, and financial freedom. And while we're all about those cozy Christmas treats, we've swapped out the usual gingerbread and fudge for a brand-new, mouthwatering holiday delight. Happy holidays and here's to a joyful, restful season!
The Federal Budget has been released, and we've outlined the key elements that you need to know.
Weathering the storm? Small businesses are particularly vulnerable in tough economic times. We can help with strategies for healthy cash flow, so you can continue to thrive.
