Federal Budget 2020 – 21 October 2020

On 6 October, Federal Treasurer Josh Frydenberg handed down his second Budget, unveiling an economic recovery plan for Australia. The plan intends to grow the economy, create jobs and secure Australia’s future.

The Budget commits additional support to families, business owners and communities as they recover from the COVID-19 pandemic. It includes personal tax cuts, additional small business tax concessions, additional cash payments to Pensioners and further funding for the aged care sector.

It is important to note; the Budget announcements are still only proposed at this stage and to be legislated. Changes can also be made prior to these proposals becoming law.