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.
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Running a small business and motherhood may seem worlds apart but as I’ve spent the last 18 months adapting to the role of mum and I've realised the surprising similarities between these two roles. Both require unwavering dedication, resilience, and the ability to juggle multiple responsibilities. In this blog, I'll share the invaluable lessons I've learned from running a small business that has uniquely prepared me for the journey of motherhood.
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