Budget 2020-21: Road to Recovery?

The 2020-21 Federal Budget is a road to recovery paved with cash.

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.

Download our guide to the 2020-21 Federal Budget


Key initiatives include:

  • Personal income tax cuts from 1 July 2020
  • A $4 billion 'JobMaker' Hiring Credit to encourage businesses to take on additional employees aged 16 to 35 years old
  • $110 billion in infrastructure investment over 10 years
  • Immediate deductions for business investment in capital assets
  • Changes to how companies can manage losses
  • Access to generous tax concessions for a wider range of businesses
There will be a lot to do over the coming months to support you to maximise the 2020-21 Budget initiatives. We'll keep you up to date as the detail of these initiatives comes to hand.

If you have any further questions about the budget, or would like any assistance, please contact your Aspen Corporate Advisor on 08 9228 0770 or at advisor@aspencorp.com.au. 

Information about the various Government and financial institution stimulus packages can be found on our Covid 19 page.

 

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