Budget Summary 2021/22

As a follow up to last year’s blockbuster ‘pandemic budget’, this year’s Federal Budget was an excellent sequel. Last year’s budget for FY21 was delayed until October for obvious reasons and set new records for spending and peacetime deficits; seven months on and the deficits are smaller, the outlook is brighter, but the government’s resolve to support the economy post-recession to a sustainable footing appears as firm as ever. The deficit for 2020-21 is now expected to be $161 billion, down from $213.7 billion.

A detailed summary can found using the following link here.

If you have would like to discuss further or have any questions, please contact the team on (03) 9670 6070.