Last night Treasurer Josh Frydenberg handed down the much anticipated 2020/21 budget. Here we provide a summary that outlines tax cuts and offsets for individuals and details of business incentives and tax measures. These proposals include an extension of the Instant Asset write off, a JobMaker Hiring Credit scheme and extended apprenticeship wage subsidy and temporary loss carry-back.
* Please note that this Report contains proposals which have not yet been legislated, and so should be viewed in that context. We recommend you seek advice and do not take any specific action until the Government provides greater detail and certainty.