Kidmans Partners

Kidmans Partners

Budget 2020-21: Road to Recovery

Oct 7, 2020

The 2020-21 Federal Budget is a road to recovery paved with cash.

By comparison to many, Australia has managed the COVID-19 pandemic well, but good management isn’t enough to protect us from the $213.7 billion deficit in 2020-21. The Government has taken to heart the old adage, “You have to spend money to make money” to trade our way out of a black hole.

We have created this client guide with the key summary items for you.

Key initiatives include:

  • Personal income tax cuts from 1 July 2020
  • A $4 billion ‘JobMaker’ Hiring Credit to encourage businesses to take on additional employees aged 16 to 35 years old
  • $110 billion in infrastructure investment over 10 years
  • Immediate deductions for business investment in capital assets
  • Changes to how companies can manage losses
  • Access to generous tax concessions for a wider range of businesses

It’s important to talk to your accountant to make sure you get it right. Please call us now on 03 9836 2900 or email us at


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