The 2022-23 Federal Budget is the third handed down against the background of the COVID-19 pandemic. Unsurprisingly, major tax reform was not on the Government’s agenda. Instead, we saw a range of measures aimed at providing more immediate relief to help individuals and families with cost of living pressures including the “cost of living” tax offset. A temporary cut in fuel excise should also translate to lower petrol prices at the pump.
We also saw a continued focus on supporting business through Australia’s economic recovery. This included a range of measures to support small businesses, leverage new technologies to reduce tax compliance and expand the Patent Box regime to increase innovation in low emissions technology and in the agricultural sector.
Our detailed analysis of the tax and superannuation measures in the 2022-23 Federal Budget can be found under the headings below.
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Driving business cash flow and cutting red tape
How will the Federal Budget help businesses to improve their cash flow and invest in innovation? PwC Tax Partner Trinh Hua summarises the key tax measures.
Quarterly Tax Briefing Federal Budget special edition
Missed our special Federal Budget edition of the Quarterly Tax Briefing (QTB)? You can watch it now on demand. Our Tax experts navigate the 2022-23 Federal Budget through a tax lens, exploring the implications and opportunities from the Budget
