News & Analysis

7 charts that explain the 2020 Australian budget

- October 7, 2020 < 1 MIN READ

The budget deficit is projected to hit $213.6 billion, a record 11% of GDP, before winding back: Instead of falling, as predicted in the last budget, debt will climb: There’s spending and tax cuts a plenty: It’s expected to bring about a bounce-back in economic growth: But much depends on the assumptions, including a return… Read more »

News & Analysis

Budget 2020 has a $37 billion boost for business

- October 6, 2020 4 MIN READ

Tax cuts aren’t the half of it. The personal income tax cuts promised in the budget will cost A$17.8 billion over four years. The measures aimed at supporting businesses – the temporary instant tax write off of capital investments, the temporary ability to use losses to reduce previous tax payments, the JobMaker hiring credit and… Read more »

News & Analysis

Budget 2020: Treasurer says ‘we have your back’ as income tax cuts kick in early

- October 6, 2020 4 MIN READ

Accelerated tax cuts, cash splashes for pensioners, massive incentives for business to invest and a subsidy to hire unemployed people are the centrepieces of the Morrison government’s COVID-19 budget. More than 11 million taxpayers will get a tax cut backdated to July 1, giving lower and middle-income earners tax relief this financial year of up… Read more »

News & Analysis

Space and resources tech are among six focus areas for the Australian government’s $1.5 billion manufacturing reboot

- October 1, 2020 4 MIN READ

The federal government is selecting six priority areas for support in a $1.5 billion manufacturing plan Scott Morrison will outline in a pre-budget address. They are resources technology and critical minerals processing, food and beverage, medical products, recycling and clean energy, defence, and space. The plan will also focus on building “supply chain resilience” after… Read more »

News & Analysis

The budget will spend $800 million ramping up how business works digitally, especially when dealing with government

- September 29, 2020 3 MIN READ

Prime Minister Scott Morrison has announced an $800 million digital technology plan for business as part of the ongoing stimulus response to the Covid-19 pandemic The PM said next Tuesday’s Budget would support businesses to recover and create more jobs. The major areas of focus for the plan include digitisation of the government’s business register,… Read more »

News & Analysis

Australia is going to introduce US-style insolvency laws for when small companies get into financial trouble

- September 24, 2020 2 MIN READ

The Morrison government will make sweeping changes to the insolvency system to improve the chances of saving small businesses hit by the pandemic. The reforms – which are described as the most significant for three decades – will cover three quarters of businesses currently subject to insolvency, almost all of which have less than 20… Read more »

News & Analysis

‘A dose of reality’: the Morrison government’s $1.9bn techno-fix for climate change is a small step

- September 17, 2020 4 MIN READ

The Morrison government today announced A$1.9 billion over ten years to develop clean technology in industry, agriculture and transport. In some ways it’s a step in the right direction, but a far cry from what’s needed to drive Australia’s shift to a low emissions economy. The big change involves what the money is for. The… Read more »