Posts tagged "what’s in the federal budget?"

The federal government has decided not to proceed with a previous Coalition policy that would have allowed business operators to self-assess intangible depreciating assets, such as patents, registered designs, copyrights and in-house software. 

When Treasurer Jim Chalmers hands down the Albanese government’s first budget tonight, he will mention the words “small business” only once.

Small and medium businesses will be able to immediately deduct the full cost of all new asset purchases for another 12 months under measures included in tonight's budget.

The 2020-21 budget is a little over a week away and small businesses are looking for extended support to get back on track after COVID-19.