Australia

On May 11 2021, Treasurer Josh Frydenberg will announce a Federal Budget centred heavily around deregulation, industrial relations policy and open trade.

Coined ‘Stage Two’ of last year’s Economic Recovery Plan, Prime Minister Scott Morrison has said it will “put business and the private sector in the driver’s seat for a durable and strong economic recovery”.

William Buck will provide expert analysis on the key announcements, examining the opportunities for you and your business and the impacts on middle market Australia.

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Federal Budget Analysis 2021-22

How will the 2021-22 Federal Budget build on last year’s Economic Recovery Plan to support individuals and Australian businesses as we continue to emerge from the economic fallout?

Sign up to receive our Federal Budget Analysis the morning after hand-down for a concise summary of key announcements impacting you and your business.

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Live Webinar | Next Day Budget Debrief

Join us the morning after Treasurer Josh Frydenberg’s address for a practical debrief on what the Federal Budget means for Australia’s middle-market.

William Buck tax experts, Greg Travers and Todd Want will unwrap the key budget measures and help you prepare to implement tax effective strategies prior to 30 June.

Meet our 2021-22 Federal Budget spokepeople 

Hear what our experts have to say about the upcoming 2021-22 Budget.

GTravers_Website

I expect that any tax measures in this year’s Federal Budget will be focused on shorter term economic stimulus. What I’d like to see is the Government also shift the focus to longer term reform of the tax system to better support the growth of Australian businesses.

Greg Travers – Director, Tax Services
Small Business and International

Jack_website

We have subdued expectations for this Budget from an innovation and grants standpoint, anticipating targeted grants. Manufacturing will feature prominently, as will likely climate and diversity initiatives. The R&D tax incentive will be left untouched, despite a growing chorus of voices calling on the Government to introduce rules more amenable to agile software development.

Jack QiDirector, Tax Services
Technology and Innovation

Belinda Hudson_website

We’re expecting to see investment in the COVID-19 vaccine rollout, mental health and aged care redesign and reforms. It would be good to see a fully integrated telehealth system that’s adequately funded through Medicare and a review of Medicare rebates for integrated care plans.

Belinda Hudson – Director, Business Advisory
Health

Ian_website

It would be good to see more of the same manufacturing grants and stimulus that we saw in, and since, last year’s Budget, to continue to invigorate the industry. Programs directed at the nationalisation of manufacturing in Australia and the strengthening of supply lines would be welcomed.

Ian Cattanach – Director, Business Advisory
Manufacturing

Neil Brennan - _website

We’re expecting the property market to be self-sustained and not get much of a look in. But the cost of construction is spiralling due to materials being in high demand, so there’s an opportunity to incentivise the manufacture of supplies such as timber to support the construction industry onshore.

Neil Brennan – Director, Business Advisory
Property and Infrastructure

SA_Adrian Frinsdorf_website

The travel industry still needs further support so hopefully this occurs and if it does stocks like FLT and SYD should benefit. A cut to red tap around banking is still needed to assist the flow of funds in the economic recovery so any measures that support this will see a continued run in the banking sector.

Adrian Frinsdorf – Director, Wealth Advisory
Wealth

Tricia Kleinig_website

As per findings from the Retirement Income Review, an increase in the Super Guarantee percentage is not required. Current levels of super savings will provide more than adequate for retirement. If the rate of SG is increased, we could see lower standards of living during people’s working life given wages growth is expected to be slower and they’ll be sacrificing more of their wage to super.

Tricia KleinigPrincipal, Superannuation
Superannuation

Review our previous Federal Budget Analysis below

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