The 2022-23 Federal Budget

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The 2022-23 Federal Budget is a safe, ballot box friendly Budget as expected with a focus on cost of living, home ownership, and health.

Our team at Hayes Knight have prepared for a guide on the Federal Budget. You can access your copy of our guide here.

Key initiatives from the budget include:

  • A 6 month, 50% reduction in fuel excise with effect from midnight Budget night
  • A $420 cost of living tax offset for low and middle income earners from 1 July 2022
  • A one-off $250 economic support payment to some social security payment recipients
  • For small business, a $120 tax deduction for every $100 spent on training employees and digital adoption

 

Check out our regular updates here.

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