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Australia's low and middle income earners will get almost $8billion back from the government after a key tax break was extended. As expected, the 2021/22 federal budget has retained a number of tax relief measures to support Australia's economic recovery. The Low and Middle Income Tax Offset, accessed after tax returns are filed, will be available for another financial year at a cost of $7.8billion. Australia's low and middle income earners will get almost $8billion back from the government after a key tax break was extended The decision is expected to benefit more than 10million people and i...

Australian Treasury Small brewers and distillers will benefit from $225 million in tax relief to support more jobs and investment as part of the 2021-22 Budget. Under our plan to support jobs in this growing sector, small brewers and distillers will benefit from a tripling of the excise refund cap for small brewers and distillers from $100,000 to $350,000 per year. From 1 July 2021 eligible brewers and distillers will be able to receive a full remission of any excise they pay, up to an annual cap of $350,000. Currently, eligible brewers and distillers are entitled to a refund of 60 per cent o...

Small brewers and distillers will benefit from $255 million in tax relief to support more jobs and investment as part of the 2021-22 Budget. Under our...