Federal Budget 2021-22: The Balancing Act Budget
Posted 13 May '21
Posted 13 May '21
The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.
Key initiatives include:
• Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in capital assets
• Introduction of a ‘patent box’ offering tax concessions on income derived from medical and biotech patents
• Tax and investment incentives for the digital economy
• Extension of the low and middle income tax offset
• Child care subsidy increase for families with multiple children
• $17.7 billion over 5 years to reform aged care
• $2.3 billion on mental health infrastructure and programs
• New and extended home ownership programs for first home owners and single parents.
Interest deductibility is one of the most important — and often misunderstood — areas of the Australian tax system.
For investors, business owners, and individuals with investment loans, getting this right can make a meaningful difference to your tax
position.
We’re excited to introduce our latest Partner in Business, Alex Watson, founder of Funded Finance. Alex is someone who truly understands that great lending outcomes aren’t just about rates or approvals — they’re about clarity, communication, and long‑term strategy. We sat down with Alex to learn more about his journey, his business, and what makes Funded Finance different.
Empire has had a long-standing relationship with Rothgard Financial Partners, in fact, one that pre-dates Empire itself! Over many years of working alongside Gino and his team, we’ve seen first‑hand the quality of the relationships they build with their clients. We are excited to have them feature as our Partner in Business in this month's newsletter.