The Treasurer, Josh Frydenberg, delivered the Federal Budget on Tuesday 11 May 2021. Here, we have summarised many of the newly outlined measures.
These are not legislated yet, but we will be keeping a close eye on them and update you with any progress.
It’s important to know that as this is a summarised version, additional criteria may apply.
Temporary full expensing extended
Loss carry back extended
Employee share scheme
Concessional corporate tax rate for medical and biotech patents income
Small business and ATO debt
Superannuation contributions work test
Super Guarantee threshold
First Home Super Scheme
Low and middle income tax offset (LMITO)
Low income tax offset (LITO)
Self- education expenses
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