2022/23 Federal Budget 2.0: A Guide

2022/23 Federal Budget 2.0 - A Guide

With seven months before the 2023-24 Budget released in May 2023, this Budget is a shuffling of the deck not a new set of cards.

DOWNLOAD PDF BUDGET SUMMARY DOWNLOAD PDF BUDGET SUMMARY

Key measures include:

Child care subsidy increase
Added flexibility and an expansion of Paid Parental Leave
Aged care reforms
Change to the taxation of off-market share buy-back by listed companies
The scrapping of the initiative to self-assess the effective life of intangible assets
Scrapping of the announced but not legislated 3 year audit cycle for SMSFs
Energy grants for SMEs (but no detail yet)
Tightening of the thin cap rules and the denial of deductions for intangible assets between related parties in certain circumstances
More cash to the ATO to pursue personal income tax non-compliance and multi-nationals
More funding for the Tax Practitioners board to pursue dodgy tax agents

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