ArticleFederal Budget Update 2022-23

Treasurer walks a fiscal tightrope…

Last night, Treasurer Josh Frydenberg delivered his 2022-23 Federal Budget address.

In the past two years, the ravages of Covid reset Australia’s priorities, with unprecedented levels of Government spending introduced to support and stimulate the economy. And now, as we emerge from the pandemic, the spectre of inflation and the effects of war in Eastern Europe are steeply driving up the cost of living. The challenge – to provide some fiscal relief for the average Australian whilst an election is around the corner.

Oh, to be the Treasurer!

The Treasurer has emphasised that the Australian economy is performing well by global standards.

Federal Budget Update 2022

An important measure leaked before budget night was the long overdue bringing of employee share schemes in line with overseas players. There was a surprise tax boost to SMEs to incentivise training staff and investing in digital technology.

This is now the 3rd Federal Budget in 18 months. If there’s a change of Government in the months ahead, some of these measures may not be introduced!

With many more details inside, we proudly present our federal budget summary and what it means for private groups and family businesses.