Up to four million small businesses will continue to receive tax relief as they battle slowing consumer spending, but calls to increase support have been unheeded. The instant asset write-off has been extended until the end of June 2025, allowing businesses with an annual turnover of...
FEDERAL BUDGET SUMMARY ECONOMY * Budget surplus of $9.3 billion in 2023/24 * Deficits of $28.3 billion in 2024/25, $42.8 billion in 2025/26, $26.7 billion in 2026/27 and $24.3 billion in 2027/28 * Commonwealth net debt rising to $552.5 billion (20 per cent of gross domestic product) in 2024/25,...
AN ARMCHAIR GUIDE TO BUDGET24 TERMINOLOGY: * FEDERAL BUDGET: A plan for collecting, spending and borrowing, with income from taxes and investments mostly spent on social security and welfare, health, education, defence and paying interest on debts * BUDGET PAPERS: Hundreds of pages of economic forecasts, financial...
Tax breaks to supercharge the production of renewable hydrogen for use as a fuel and other applications are part of the federal budget’s push for net-zero prosperity. The global renewable hydrogen race is already well underway as advanced economies compete with Australia to host production facilities...
The next era of prosperity is the centrepiece of a “future made in Australia” budget that seeks to get more value out of critical commodities. Tax breaks for the critical minerals sector are part of the “growth agenda” announced by Treasurer Jim Chalmers on Tuesday as...
Australia’s commodity windfalls are masking growth in spending and new budgetary measures could be “mildly inflationary,” major ratings agency S&P says. S&P Global Ratings, which has had a AAA rating on Australia since February 2003, noted a small forecast surplus for this financial year, and a...
THE BUDGET Budget surplus of $9.3 billion in 2024/25 Commonwealth net debt to rise to $552.5 billion (20 per cent of GDP) in 2024/25 Economic growth to rise to two per cent in 2024/25 Unemployment rate to rise to 4.5 per cent in 2024/25 Inflation as measured by Consumer Price...
BUDGET WINNERS AND LOSERS WINNERS Lower income households – more energy bill assistance on the way Small businesses – energy bill rebates and extension of asset write offs Renewable and other energy companies – tax breaks and other incentives for investment Renters – second year of increases in Commonwealth Rent...
Here’s an introduction to some of the top legal terms commonly used in Australia, presented in a list format. Understanding these terms can be very helpful in navigating legal documents or discussions. Top 10 Legal Terms Used in Australia Plaintiff – The person or entity who initiates a...
Work-life balance is a highly personal and continuously evolving quest. It’s about managing your professional and personal lives in a way that minimizes stress and maximises well-being. This balance isn’t one-size-fits-all; what works for one may not work for another. Recognising this variability, here are ten...