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2022-23 Federal Budget
Treasurer Josh Frydenberg handed down the Federal Budget for the 2022-23 year last night. With a Federal election imminent, expectations were low for a Budget that would risk extensive new measures or radical reform. Even by those muted standards however, there wasn't much in this Budget in the way of tax and business announcements, with the biggest ticket items being some welcome cost of living relief and an investment in digital transformation and training.
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New super rules, and an extension of unlimited asset write-off for business
Parliament recently passed legislation that gave effect to a number of measures announced in the Federal Budget back in May 2021. These changes include more generous measures for superannuation members, and an extension of the unlimited instant asset write-off provisions for businesses with annual turnover of less than $5 billion.
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SA Government announces more COVID help for businesses
The South Australian State Government announced late last month a further round of support for businesses that have experienced ongoing difficulties as a result of the COVID-19 pandemic.
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