Posts tagged "whats in the budget"

In a budget that’s big on spending, there’s plenty of money to go around. Here are all the key figures and forecasts in the 2022-23 budget.

In the lead up to this year’s federal budget, we consistently heard two key themes in our conversations with small business owners and startup founders, and the groups that represent them. 

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.

The Morrison government has delivered its election pitch to small business in the form of the 2019-20 federal budget tonight.