Posts tagged "budget surplus"

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

The full scope of the expectation-defying document will come into focus in the days to come, but here are the key policies and updates for SMEs delivered by the Albanese government’s first ‘full’ budget.

With the budget in balance, a surplus in the financial year ahead seems all but assured. So the next question is, what do we do with the surplus?

Measures to extend and enhance the instant asset write-off have passed the Senate in a post-budget voting blitz that saw 28 bills passed yesterday.

The government has proposed expanding the STP reporting regime to enable more data to be collected for use by the tax office.

The coalition wants to crack down on sham contracting and has proposed giving the Fair Work Ombudsman an extra $9.2 million over four years.

The government has committed an extra $1.2 billion to Australia’s Medical Research Investment Plan to support STEM commercialisation projects.

The government has proposed a boost to the instant asset write-off which would increase the threshold and give medium-sized firms access to the scheme.

The government is looking to back SMEs exporting overseas, proposing $61 million over three years to help businesses get the word out about their products.

The government has proposed adding red tape to the ABN system to safeguard it against black economy behaviour and make holders “more accountable”.

Incentive payments for businesses looking to employ apprentices would double to $8,000 per placement under a $525 million government proposal.

The tax office would be given an extra $1 billion to crack down on big-business tax dodgers under a proposed expansion of the tax avoidance taskforce.