FEDERAL BUDGET - OCTOBER 2020 |
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The Treasurer Josh Frydenberg delivered the government's plan to stimulate spending and encourage business investment with $85 billion of stimulus over 4 years. Main incentives include immediate asset write-offs, income tax cuts and the extension of Jobkeeper. Click here to download a pdf version of the newsletter to read the full article |
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JOBMAKER |
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Job losses have been extensive during the COVID-19 pandemic and the JobMaker Hiring Credit will give businesses incentives to take on additional employees aged between 16 and 35 years old. Click here to download a pdf version of the newsletter to read the full article.
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INCOME TAX CUTS |
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The Budget seeks to promote tax reform and simplification in an effort to support business investment and help reduce the personal income tax burden.
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CHANGES TO SUPERANNUATION |
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The Budget seeks to address various shortcomings in the superannuation system including unintended multiple accounts, paying too much super fees, underperforming products and the lack of accountability and transparency. |
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