Federal Budget 2020 – 2021

Our Federal Budget 2020 – 2021 Newsletter was sent out today – Did you receive yours?

Federal Budget 2020 – 2021 Issue Covered

  • BUSINESS
    – FBT exemption to support retraining and reskilling
    – Reducing the FBT compliance burden of record keeping
    – Individual tax rates for residents
    – Increase to small business entity turnover threshold
  • R&D TAX INCENTIVE
    – SMEs: ATO confirms JobKeeper payments do not contribute to aggregated turnover
  • TEMPORARY “FULL EXPENSING” DEDUCTION FOR BUSINESSES
  • TEMPORARY LOSS CARRY-BACK
  • CORPORATE RESIDENCY TEST TO BE CLARIFIED
  • VICTORIA’S BUSINESS SUPPORT GRANTS TO BE NANE
  • SUPERANNUATION
  • HOUSING
    – First home buyers
    – Boost for housing supply
    – Exempting granny flat arrangements from CGT
  • EMPLOYMENT AND TRAINING
    – JobMaker Hiring Credit
    – JobTrainer
    – Regional recovery and tourism
  • MANUFACTURING
  • ENVIRONMENT
  • HEALTH AND FAMILIES
  • Special Budget 2020-21 Edition

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