The 2022-23 Federal Budget is a safe, ballot box friendly Budget as expected with a focus on cost of living, home ownership, and health.
Key initiatives include:
But, it is also a Budget that drives digitisation. Not just to support innovation but to streamline compliance, create transparency and more readily identify anomalies. Single touch payroll was the first step, the PAYG instalment system, trust compliance, and payments to contractors are next.
We'll keep you up to date as the detail of these measures comes to hand.
Happy reading below and contact us for more details!