OBP Group

The Treasurer has delivered a budget that focuses on key spending measures to drive Australia’s economic recovery in a post-pandemic, natural disaster and conflicted international environment.

Key announcements are:
• a one-off $420 cost of living tax offset for low and middle income earners, and a $250 payment for pensioners and welfare recipients
• fuel excise will be reduced by 50 per cent for six months
• for small businesses, the Skills and Training Boost will provide a new 20 per cent bonus deduction for eligible external training courses for upskilling employees from Budget night.
• small businesses will receive a similar 20 per cent bonus deduction for expenditure on digital technologies (e.g. cloud computing, einvoicing, cyber security and web design) for investments of up to $100,000 per year.

For furthur information, please contact us at 08 6162 8288.