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
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