The 2024-25 Queensland State Budget was handed down by Treasurer, Cameron Dick, on Tuesday 11 June 2024.  This is the first State Budget handed down since Steven Miles became the State’s Premier on 15 December 2023.  Notably, this is also the last State Budget before the Queensland State Government election scheduled for 26 October 2024. 

A summary of the key budget measures is provided in this article.

 

Find out more about the 2024-25 Federal Budget

The 2023-24 New South Wales (NSW) State Budget was handed down by Treasurer, Daniel Mookhey, on Tuesday 19 September 2023.  This was the first NSW State Budget delivered by the recently elected Labor Government and is being handed down amidst ongoing economic pressures.

The 2023-24 Queensland State Budget was handed down by Treasurer, Cameron Dick, on Tuesday 13 June 2023.
 
Owing to significantly higher coal royalties hitting the state’s revenue, the Treasurer announced a budget surplus of $12.3 billion for the 2022-23 financial year.  This is the largest budget surplus ever recorded by any state or territory government.  Remarkably, only four times has the Federal Budget seen a greater surplus than Queensland’s 2022-23 budget surplus.

The Treasurer, the Honourable Dr Jim Chalmers MP, handed down the 2023-24 Federal Budget at 7:30 pm (AEST) on 9 May 2023. Find out what it means for businesses and individuals. 

Following the 21 May 2022 Federal election, the Treasurer, the Honourable Dr Jim Chalmers MP, handed down the 2022-2023 October Federal Budget at 7.30pm (AEDT) on 25 October 2022.

Learn all about the key takeaways from the 2022-2023 October Federal Budget with our summary.

Great ideas can lead to great innovations and thriving businesses.  Our team of business advisors have developed a series of articles on the Business Lifecycle covering everything from an idea to succession or sale of your business. 

Over the course of the next months we will be addressing some of the key milestones in business. 

In this edition of our Business Lifecycle Series, Kerry Bebendorf, Partner and business advisor at Moore Australia (QLD/NNSW) explains the difference between a budget and cashflow, and what affects each of them.

The 2022-23 QLD State Budget was handed down by Treasurer, Cameron Dick, on Tuesday 21 June 2022.
 
In his speech, the Treasurer announced a budget surplus of $1.9 billion for the 2021-22 financial year. Despite the ongoing impacts of COVID-19 and floods, the Queensland economy is forecast to grow by 3% in 2021–22, and then average ongoing growth of 2.75% per annum over the rest of the forward estimates.

The Treasurer, the Honourable Josh Frydenberg MP, handed down the 2022-23 Federal Budget at 7:30 pm (AEDT) on 29 March 2022.

Learn all about the key takeaways from the 2022-2023 Federal Budget with our summary of all the major budget announcements.

Andrew Barr MLA, Chief Minister and Treasurer of the Australian Capital Territory handed down the 2021-22 ACT Budget on 6 October 2021.

Western Australia’s Premier and Treasurer, Hon Mark McGowan MLA handed down the 2021-22 Western Australia State Budget on Thursday, 9 September 2021. In his speech, the Treasurer stated that Western Australia’s net operating surplus was stronger than expected, at a record $5.6 billion.

On 22 June 2021 New South Wales Honourable Dominic Perrottet delivered the 2021-22 state budget, focussing on COVID safety measures along with targeted spending to assist small business and large spending packages on infrastructure and disaster recovery. 

On 15 June 2021, the Queensland Treasurer Cameron Dick delivered the 2021-22 state budget, following Queensland's nation-leading success in managing the economic health challenges posed by the COVID-19 pandemic, the government is focused on the states economic recovery plan sooner and stronger.

 

On 20 May 2021, the Victorian Treasurer Tim Pallas handed down the 2021-22 Victorian State Budget. A number of tax-related measures were announced in a Budget that is designed to assist Victoria in bouncing back from the pandemic, with a focus on creating jobs and caring for Victorians, particularly mental health initiatives.
 

Treasurer Josh Frydenberg handed down the 2021-22 Federal Budget on 11 May 2021, heralding the post-pandemic economic recovery.
 
A key focus of the Budget is economic recovery and delivering more jobs to Australians. It is estimated that this Budget will help to create more than 250,000 more jobs by the end of 2022-23.

Need to know the key takeaways from tonights Budget?
We've put together a summary of all the major budget announcements.

On 24 November 2020, the Victorian Treasurer Tim Pallas handed down the 2020-21 Victoria State Budget. The aim of the Budget is clear: to protect and create jobs, look after families, build strong and connected communities and build towards a strong economic recovery.

Queensland Treasurer, Cameron Dick, delivered the state's 2020-21 budget yesterday, on the same day the borders opened to New South Wales and Victorian travellers.  Similar to budgets released by other states, the focus is on creating jobs, while also focussing on “rebounding from COVID-19 impacts” and celebrating the success of Queensland in response to the pandemic.
 

The New South Wales Government delivered their 2020-21 budget this week with a focus on creating jobs and securing the future amidst the COVID-19 pandemic.

Chief Minister and Treasurer Michael Gunner delivered the NT Budget yesterday, stating that his 2020 budget covers 3 objectives – controlling the virus, protecting jobs and kick-starting the economy. In his speech, the Treasurer said “While the Australian economy is forecast to shrink by a further one-and-a-half per cent in this financial year, as the worst effects of the crisis are felt, in the Territory we are expected to hold about steady, contracting by just 0.1 per cent.”

Treasurer Rob Lucas delivered his third State budget for the Marshall Liberal Government yesterday, with the main focus on economic recovery by creating jobs and inspiring confidence in business and households. 

The Western Australian State Budget for 2020-21 has been released. Find out what this year's budget means for you.

Treasurer Josh Frydenberg handed down the 2020-21 Federal Budget on 6 October 2020, a deficit of $213.7b for the year, taking net debt to $703b or 36% of GDP.

The Government laid out their recovery plan focused on creating jobs, rebuilding the economy, and securing Australia’s future.

The key taxation, superannuation and social security measures are summarised within the following report.

Need to know the key takeaways from tonight's Budget? We've put together a snapshot of all the major budget announcements.

Last week we asked what the future of the corporate tax system of Australia should look like. More than 64% of respondents felt that Australia should have a single corporate tax rate set at 25%. 

The upcoming Federal budget is going to be important for business. Hopefully the Government will carefully consider some issues which in our view require immediate reform. Read more about our thoughts on the complex dual corporate tax system is complex, and why we should be moving towards a single lower corporate tax rate.

We believe having a budget is essential for business success. Talk to us about creating a useful budget in your accounting software as a practical business management tool. We’d love to help you start planning for a great 2021 financial year!

With a new financial year upon us, we are hopeful that the world, and our economy will start to thrive again.
The impact of COVID-19 may have taken its toll on your business through the end of the 2020 financial year, and rather than focus solely on the loss we are optimistic that you will start to see new opportunities, new ways of doing business and new ideas emerging.

In the 2019 Budget changes to property deductions were announced. In typical budget fashion, the announcement was light on detail and couched around the phrase “integrity improvement”. The changes are focussed on holding costs for vacant land.