Australian Federal Budget 2021-22

A plan to invest rather than reform, stimulate rather than surprise.

In brief

  • Australia’s federal government has handed down a pre-election budget focused on stability and recovery
  • Welcome continuation of COVID business measures aimed at stimulating economic expansion
  • Spending increases will need to be underpinned by high levels of GDP growth

The Australian Federal government has handed down a budget focused on recovery and rebuilding. 

In the run up to the election cycle, the budget extends some of the business support measures designed to stimulate growth in the wake of the COVID-19 induced recession of 2020, the first to hit Australia in 30 years.

As predicted, major changes to tax policy have not been considered as the government focuses on providing policy stability, although it is unclear how it will address the difficult task ahead or lay the foundation for a discussion on possible tax reform options.

We will be updating this page regularly in coming days, with insights, commentaries and in-depth analysis.

Budget Overview - Highlights and key measures

Government emphasises spending to bolster economic recovery underway

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Australian Federal Budget Debrief

Tax & Superannuation specialists Michael Croker CA, and Tony Negline CA unpacked the key issues, initiatives and undertakings that shape Australias capacity to emerge from an incredibly tumultuous year.

Recorded: 13/5/2021

Panellists:
Michael Croker CA, Australian Tax Leader, CA ANZ
Tony Negline CA, Superannuation Leader, CA ANZ

Federal Budget Insights Reports 2021-22

Access the CCH Parliament and Tax & Accounting Federal Budget reports produced for our members by Wolters Kluwer CCH-inhouse experts.

Download PDFAbout Federal Budget Insights Reports 2021-22

CA ANZ Federal Budget 2021-22 infographic

CA ANZ 2021-22 Australian Federal Budget Infographic 

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Budget commentary

Employee share scheme changes

CAs will have a range of conversation topics with employers assuming the changes are enacted

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Loss carry-back extended for a year

The Budget recognises that take-up of tax breaks has been difficult for some eligible businesses

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Super Guarantee

Future increases to remain in place and $450 per month threshold to be removed

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‘Downsizer contribution’ opportunity expanded to those aged 60 and older

Getting money into super will now be easier for older Australians moving to a new home.

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Test to determine tax residency

Globally mobile individuals, their employers and advisers should consider the ramifications

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