How Ipswich businesses stand to benefit from budget

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IPSWICH business owners might be sleeping a little easier after emerging as one of the biggest winners under the 2021-22 budget.
As Treasurer Josh Frydenberg announced the budget on Tuesday it was revealed that small to medium-sized enterprises would be offered some respite through tax cuts following a year of uncertainty.
The corporate tax rate for SME’s is set to dip to 25 per cent from July 1 this year from its previous 30 per cent, delivering about $16 billion in savings by 2023-24.
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It comes as Mr Frydenberg cited grassroot businesses as a key pillar to aid Australia’s economic recovery in the wake of the pandemic.

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