The 2020-21 Federal Budget is all about jobs. The COVID-19 pandemic has resulted in the most severe global economic crisis since the Great Depression.
The centrepieces of the Budget are a new JobMaker Hiring Credit for businesses and lower taxes for individuals.
For the first time in several years, there were no measures specifically relating to SMSFs in this year’s Budget.
The COVID-19 economic recovery Bill containing several 2020-21 Federal Budget measures has now received assent with further measures expected to receive assent in the coming weeks.
The full Budget papers are available at www.budget.gov.au and the Treasury ministers' media releases are available at https://ministers.treasury.gov.au
The highlights are: