- 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 for 2021-2022 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 underwayRead more
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.
Michael Croker CA, Australian Tax Leader, CA ANZ
Tony Negline CA, Superannuation Leader, CA ANZ
Banking on growth to tackle social issues
The Budget reframes the economic credentials of the Coalition government which is banking on economic growth to gradually restore depleted coffers whilst simultaneously boosting spending to address a range of pressing social issues
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.
CA ANZ Federal Budget 2021-22 infographic
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Employee share scheme changes
CAs will have a range of conversation topics with employers assuming the changes are enactedRead more
Loss carry-back extended for a year
The Budget recognises that take-up of tax breaks has been difficult for some eligible businessesRead more
Future increases to remain in place and $450 per month threshold to be removedRead more
‘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.Read more
Test to determine tax residency
Globally mobile individuals, their employers and advisers should consider the ramificationsRead more
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