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Xero – Gold Partner

Federal Budget 2020-21 Review

By | October 15, 2020

There were few surprises in the Federal Budget announcement last week. It appeared to be a budget of least resistance, almost guaranteed to be legislated without argument by the opposition.
Access our detailed analysis of the Budget and the specific impact to individuals and small-medium businesses. 

The 2020 budget has been handed down and it was no surprise to anyone that the focus was jobs. The Government’s broader economic plan to be a much more self-sufficient country, looking afterlives and livelihoods of Australians, has a renewed focus on business in all regions.

Below is a detailed analysis of the Budget and the specific impact to individuals and small-medium businesses.

  1. Overview & Recap
  2. Personal Tax Cuts
  3. Instant Asset Write-off
  4. Loss Carry Back Provisions
  5. JobMaker & Boosting Apprenticeship Commencements
  6. Research & Development Tax Incentive
  7. ArgiBusiness Update

Tax and tax planning can be a complicated and evolving process – it’s important to have an accounting partner who knows the game, is across all legislation and understands your situation and what you want to achieve.

If you would like to know more about our tax planning services and how you could reduce your tax exposure, please call our office on (08) 8172 1444 or email our friendly team.

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