Small and medium businesses are being promised cash flow boosts this year to help them with the post-pandemic recovery, and easier paperwork within two years. budget2022 joshfrydenberg
Small and medium businesses are being promised cash flow boosts this year to help them with the post-pandemic recovery, and easier paperwork within two years in a budget pledge the government says will save hundreds of millions of dollars.
If a business earns more than the amount calculated, it would have to pay the extra tax owed at the end of the financial year. The change has to be legislated before businesses will see any benefit. This would likely be after the May election, given there are only two sittings days with both houses scheduled before then, but the government is confident it can be done before the next financial year starts in July.
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