The Balancing Act Budget Federal Budget 2021 22

2021-22 Federal Budget – The Balancing Act Budget

There’s something for everyone in the 2021-22 Federal Budget!

Big Cash Flow for Business Investments in Assets, Reduced Company Tax Rate, Low Income Offset to Continue, Residency Rules more objective, Positive Superannuation Changes and more.

Click here to download our full 2021 Budget PDF

  • From 1st July 2021 – Company tax rate lowers from 26% – 25% for the 2022 tax year.
  • Temporary full expensing extended.
  • Carry back losses extended from 2019 – June 2023.
  • Employee share scheme changes.
  • Low and middle income tax offset breaks extended for another year.
  • Residency individual tax changes
  • Continuation to contribute non-concessional amounts to their superannuation for those aged 67-74 from 1st July 2022.
  • Government extends access to downsizer contribution.

We love tax and love presenting the budget each year! If you’d like to have a chat about any of the information presented in this video, chat to one of our friendly tax champions at Paris Financial.

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