Yearly Archives: 2020

2020-21 NSW Budget: what’s in it for you?

The NSW government has released its 2020-21 Budget amid the COVID-19 pandemic. According to the Treasurer, Dominic Perrottet, a deficit of $16bn is forecast for the 2020-21 financial year, due to an increase in spending in relation to various temporary stimulus to help the economy recover and lower revenues. With these measures in place, the...
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2020-21 Victorian Budget: what’s in it for me?

The Victorian Treasurer has handed down the 2020-21 State Budget in challenging economic conditions. The government projects net debt will reach $87bn this year and will grow to $155bn by June 2024. Although the debt figures sound grim, according to the government, the interest costs over the next 4 years will not be burdensome, averaging...
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Lodge your SMSF return on time: ATO reminder

ATO has reminded trustees of SMSFs with a lodgment due date of 31 October to lodge before the due date for their SMSF annual return (SAR). The 31 October due date applies to those funds in their first year and SMSFs that didn’t lodge the previous year’s return on time. All other SMSFs generally have...
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Potential changes to the childcare subsidy?

In the aftermath of Budget 2020, the Labor leader has been given a customary opportunity to outline his party’s vision for Australia in its Budget reply speech. The one proposal that has been given the most attention is the childcare measure which Labor has indicated it will take to the next election, which could occur...
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