Federal Budget 2023

Should the bill not pass before June 30 this year, small businesses which upgraded their technology in 2022-2023 on the expectation of a generous tax break will go into the new financial year without legislation underpinning their 'bonus' deductions.

The 2023-2024 federal budget halves a scheduled 12% tax instalment increase to 6%, a move the federal government says will improve small business cashflow.

Small businesses should be going back to basics and understanding a few tax measures that are ending and working out the best course of action for their business.

Small businesses need a sustainable tax system that will encourage investment and generate economic growth.

Dutton said the nation was built on the success of its migrants but in a housing crisis it had to be managed.

SmartCompany was fortunate to discuss those policies with Small Business Minister Julie Collins in her first SME-focused interview since budget night.

According to the author, despite a government contract till 2025, the Entrepreneurship Facilitators program was scrapped in budget 2023.

In the federal budget, there were few major surprises when it came to technology spending. Here are a few other tech items that have been sprinkled throughout the budget.

The RBA’s latest forecasts now assume no further rate rises will be needed for inflation to fall back to the central bank’s 2-3% target range by mid-2025.

The government expects to collect an astonishing $42 billion more than it expected to this financial year and will deliver a surplus.

A ramped-up instant asset write-off scheme will offer small businesses tax breaks on eligible purchases over the next financial year, averting fears the scheme would drop to cover purchases of just $1,000.

To pay for a number if big-ticket items in its first 'full' budget, the Albanese government has underlined a wide array of cuts, downgrades, and funding reprioritisations.