Federal Budget 2022-23 Analysis
In his first Budget, Treasurer Jim Chalmers’ emphasised the three Rs – responsible budget repair and restrained spending, right for the times.
For good measure, resilience also got a mention with spending targeted at building a more modern economy to deal with the challenges ahead.
This is the first budget from a federal Labor government in almost a decade, barely five months since Labor was elected and seven months since the Coalition’s pre-election budget in March, so it was bound to be a little different. The Treasurer used the opportunity to update the shifting economic sands and reset spending priorities to align with the new government’s policy agenda.
For Australians wondering what the Albanese Labor government will mean for them and their family, this is the first piece of a puzzle that will be completed over the next three years.
Read our full newsletter – https://eread.com.au/mwl/147885
Related Posts
January 2024
There is a lot to look forward to in 2024 and we would like to wish you good health, happiness and prosperity for the year ahead. This month: – 2023 Year in Review – Measure it, manage it – business milestones to success – How will you use your super? Some considerations for the popular […]
What’s the Deal with Working from Home?
The ATO has updated its approach to how you claim expenses for working from home. The rate for claiming additional expenses as a result of working from home has increased from 52 cents to 67 cents per hour from 1 July 2022. You will need to take caution, as the types of expenses included have changed, and there are more record-keeping requirements.
Your SMSF: Wind it up or pass it down
Now that new legislation allows a maximum of six members in an SMSF, some fund trustees may be wondering if this could be an easy way to ensure a smooth transfer of their super to the next generation. The simple answer is yes, but before you start adding your children and their spouses to your […]
Keeping Cash Flow Positive
Managing a healthy cash flow is often tough for small businesses and it is particularly the case right now in the challenging economic conditions. Many businesses are facing supply chain issues, utilities and wages costs are increasing, it is more expensive to borrow money and some sectors are suffering severe downturns. Strong cash flow is […]