This evening the Treasurer, the Honourable Josh Frydenberg MP, delivered the Government's 2020-21 Federal Budget.
In response to the COVID-19 inflicted recession, falling GDP and an increase in unemployment, the Budget is focused on rebuilding the economy and creating employment by increasing infrastructure spending, bringing forward individual tax cuts, allowing unprecedended tax deductions for eligible capital expenditure and increasing R&D incentives.
Our National Tax Committee has analysed the budget papers and prepared the following snapshot of the major Budget announcements. An overview of the Budget will follow tomorrow.
Download the snapshot here.