Australia

Treasurer Josh Frydenberg has announced a Federal Budget centred heavily around infrastructure, job creation and investment incentives for business.

The 2021-22 Budget seeks to maintain the momentum of Australia’s economic recovery through supporting jobs and guaranteeing services. The Government sees it as the next stage of its economic plan to secure Australia’s recovery.

Federal Budget Debrief Webinar

What does the Federal Budget mean for Australia’s middle-market businesses?

Greg Travers and Todd Want break down the key budget measures and help you prepare strategies before it’s too late.

5 take-outs for SMEs

Invest in
capital assets

Look at your planned capital expenditure. Can you benefit from the instant asset write off?

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Utilise incentives to increase employment

Will one of the announced incentives reduce the cost of taking on new employees?

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Take some
breathing space 

Give your business time to recover – additional finance, debt assistance and tax relief could help.

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Value the women in your business

How will your business benefit from women being encouraged to return to the workforce?

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Benefit from the 25% company tax rate

Companies with turnover of less than $50m will see the new tax rate from 1 July 2021.

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Key policies at a glance

Jobs Growth

Packages and subsidies aimed at creating jobs across infrastructure, childcare and more.

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Housing Affordability

Measures designed to make housing more affordable and reduce homelessness.

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Health care

Measures targeting availability, accessibility and improvement of health services.

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Digitising Australia

Over $1b will be invested as part of the Government’s Digital Economy Strategy.

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Other key policies

Numerous industries will benefit from targeted support and other incentives.

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Budget analysis

Small to medium business

The Federal Budget gives SMEs time and support to recover, while driving investment and encouraging job growth.

Business

Entension of key business tax measures will allow businesses to tax effectively invest in their future growth.

Individuals

Tax relief, changes to tax residency tests and simplification of self-education expense deductions are key changes for individuals.

Superannuation

The government will make a range of changes helping people to contribute to super and remove red tape.

Grants and incentives

Focuses include medical and biotech patents, emissions reduction, digital games developers, AI and women’s programs.

Economic snapshot

We explore the numbers that determine Australia’s economic position. These are the numbers that reflect how well we’ve emerged from the pandemic.

Latest Federal Budget articles

20 May 2021 | Federal support for Australian innovation

With the 2021-2022 Federal Budget announced, companies involved in driving Australia’s innovation can start planning their future research and development  and commercialisation activities with greater certainty.

Find out more > 

17 May 2021 | How does the 2021-22 Federal Budget support Victoria’s tech industry?

William Buck’s dedicated technology specialists have summarised the key items for Victorian Technology businesses in this year’s Federal budget.

Find out more > 

2021-22 Budget spokespeople

For commentary on the 2021-22 Federal Budget, please direct your enquiries to danielle.shaw@williambuck.com

Greg Travers Highres1_FB final

Greg Travers, Director

Small Business and International

Jack.Qi_4

Jack Qi, Director

Tax – Technology and Innovation

Belinda-Hudson_2

Belinda Hudson, Director

Business Advisory – Health

Neil-Brennan_5

Neil Brennan, Director

Business Advisory – Property

Ian_6

Ian Cattanach, Director

Business Advisory – Manufacturing

SA_Adrian-Frinsdorf_6

Adrian Frinsdorf, Director

Wealth Advisory – Wealth

Tricia-Kleinig_1

Tricia Kleinig, Principal

Superannuation

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