On 6th October 2020, Treasurer Josh Frydenberg handed down a historic Federal Budget. In a year of fires, drought and a global pandemic, the Government has seen the budget deficit blow out to $213.7 billion or 11 per cent of gross domestic product (GDP).

This year’s Budget theme centred around job creation, personal tax cuts and investment. It sent a clear message to the Australian people that the Federal Government was ready to start the journey towards rebuilding the economy and securing Australia’s future.

HLB Mann Judd’s Federal Budget Alert provides a succinct summary of the Government’s economic recovery plan including details related to personal and business taxation and superannuation.

Federal Budget Alert

Read our 2020-2021 Federal Budget Alert

Recent insights

JobKeeper Extension: Phase 2 Update

From 4 January 2021, businesses and not-for-profits should reassess their turnover to be eligible for the JobKeeper Payment.

2020-21 Tax Reference Guide - Budget Edition

Our Tax Reference Guide is a helpful resource for Australian businesses and individuals. Stay up to stay up to date on the year’s Federal tax laws following the October 2020 Budget.