2022/23 Federal Budget 2.0: A Guide

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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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Our team are here to help. get in touch for any queries you may have on how the Budget may affect you and your business.

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