Australian Federal Budget 2021-22

Last night, Josh Frydenberg MP, Treasurer, handed down the 2021-22 Australian Federal Budget. The new budget provides for a safer environment and incentives with a view to increase spending by taxpayers. Stimulating the economy remained a consistent measure and is in line with the October 2020 Federal Budget.

Announcements in the budget included the extension of the low and middle income tax offset (worth up to $1,080) for another 12 months, a number of superannuation announcements that could have a significant (and positive) impact on the wealth plans of many Australians as well as a focus on health issues for Australians. The federal Government is continuing to provide a safer environment and incentives to increase spending by tax payers to stimulate the economy.

BT has been kind enough to provide a plethora of documents that summarise the Australian Federal budget for 2021-22 which we have provided the links for your convenience.

Budget Summary - 2021-22

Economic Summary

Bridging the gap

Budget Super summary

Child care Subsidy's enhancement

Should you want to discuss how these new measure could effect your personal situation then please book a 15 min chat by clicking the link book a 15 min chat