The Federal Budget delivered last night announced various measures to drive digitisation – both to encourage innovation and to streamline compliance and reporting.
Key initiatives include :
- For small business
- a $120 tax deduction for every $100 spent on eligible employee training and
- a $120 tax deduction for every $100 spent on eligible digital technology
- A 6-month 50% reduction in fuel excise with effect from midnight Budget night
For further details, please refer to our concise and helpful Federal Budget 2022-2023 Summary*.
*Please note that this Summary is about proposals, which have not yet been legislated.
If you have any concerns or would like to discuss how the Budget changes may affect you and your business, please contact us on (07) 3217 5700 or [email protected]
