The Balancing Act: The 2021/22 Budget Detailed Review

Kieran BowdenAustralian Budget, General

The Balancing Act The 202122 Budget Detailed Review

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in capital assets Introduction of a ‘patent box’ offering tax concessions on income derived from … Read More

Road to Recovery? The 2020/21 Budget Detailed Review

StuartAustralian Budget

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By comparison to many, Australia has managed the COVID-19 pandemic well, but good management isn’t enough to protect us from the $213.7 billion deficit in 2020-21. The Government has taken to heart the old adage, “You have to spend money to make money” to trade our way out of a black hole. Some of the measures are aimed at addressing … Read More

The Second $66.1 bn Stimulus Package: What You Need To Know

StuartTax, Australian Budget, COVID19, General

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The Government yesterday released a second, $66.1bn stimulus package that aims to boost income support payments, introduce targeted changes to the superannuation rules, provide cash flow support of up to $100,000 for small business employers and relax corporate insolvency laws.   The stimulus measures proposed, are not yet legislated. Parliament reconvened yesterday and we await further announcements.    The Prime Minister has warned there are no “quick … Read More

The Stimulus Package: What You Need To Know

StuartTax, Australian Budget, COVID19, General

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The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.   The yet to be legislated four-part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated depreciation deductions Cash flow assistance … Read More

$17.6B Stimulus Package in response to COVID-19

StuartTax, Australian Budget, COVID19, General

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Today the Federal government announced a $17.6 billion economic stimulus package in an attempt to prevent a recession caused by the coronavirus outbreak. The Prime Minister anticipates the economic measure will benefit around 690,000 businesses employing 7.8 million people. It is estimated the stimulus will inject $22b into the domestic economy and will include initiatives to: Fast track investment Subsidise … Read More

2019/20 budget highlights and key takeaways

CraigAustralian Budget, Chris Fallico, Super, Tax

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If you missed the recent announcement of the 2019/20 federal budget, 542 Partners has you covered! The ‘Ballot Box’ budget is designed to showcase the return to surplus and engage voters with initiatives to make them feel like they are more prosperous. A massive infrastructure spend adds to this sentiment. We partnered with Chris Fallico from ACADIA wealth advice to … Read More