The Treasurer delivered the Federal Budget on Tuesday 29 March 2022 - the third handed down against the background of the COVID-19 pandemic. Unsurprisingly, major tax reform was not on the Government’s agenda. Instead, we saw a range of measures aimed at providing more immediate relief to help individuals and families with cost of living pressures including the “cost of living” tax offset. We also saw a continued focus on supporting business through Australia’s economic recovery. This included a range of measures to support small businesses, leverage new technologies to reduce tax compliance and expand the Patent Box regime to increase innovation in low emissions technology and in the agricultural sector.
For all our detailed analysis of the measures, visit our Budget page.