Budget 2020-21 Update
Posted 6 Oct '20
Posted 6 Oct '20
The 2020-21 Federal Budget is a road to recovery paved with cash.
Key initiatives include:
– Personal income tax cuts from 1 July 2020
– A $4 billion ‘JobMaker’ Hiring Credit to encourage businesses to take on more employees aged 16-35 years old
– $110 billion in infrastructure investment over 10 years
– Immediate deductions for business investment in capital asset
– Changes to how companies can manage losses
– Access to generous tax concessions for a wider range of businesses
Let’s break down what the CGT discount is, why it’s not always the best option, and what you should consider before choosing how to structure your investments.
The ATO is cracking down on unreported income in 2025. Learn which income sources you must declare in your tax return – from Airbnb and side hustles to crypto and overseas earnings.
Traditionally, many business owners only speak to their accountant once a year, and it’s usually right before tax time. If that’s the only time you’re checking in, you could be missing out on game-changing insights and support that could help you make smarter decisions all year round.