The site uses cookies to provide you with a better experience. By using this site you agree to our Privacy policy.

Budget

NSW State Budget 2023-2024

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.

QLD State Budget 2023-2024

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.

Business Lifecycle Series

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. 

QLD State Budget 2022-2023

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.

2021-2022 WA State Budget: At a glance

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.

NSW State Budget: 2021-22

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. 

Queensland State Budget: 2021-22

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.

 

2021-2022 Victorian State Budget

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.
 

2021-2022 Federal Budget Report

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.

2020-21 Victorian State Budget

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.

2021 Queensland State Budget at a glance

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.
 

Northern Territory Budget 2020-2021

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.”

2020-21 Federal Budget Report

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.

Is it time to 'fix' corporate tax rates once and for all?

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.

Budgeting and cash flow management in uncertain times

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.