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Federal Budget 2022-23

On Tuesday the 29th of March, Treasurer Josh Frydenberg handed down the 2022-23 Federal Budget.

The 2022-23 Federal Budget is very much an election year budget that has avoided any significant measures aimed at budget repair and reform of the tax system.

Instead, the focus has very much been on alleviation of cost of living pressures which have been exacerbated by recent domestic and international events.

Some of the more notable measures announced include:

  • A 6 month 50% reduction in fuel excise
  • A $420 cost of living tax offset for low & middle income earners
  • A one-off $250 payment for social security recipients
  • A small business skills & training boost
  • An extension of the temporary reduction in minimum pension draw-down rates for self-funded retirees

To access our comprehensive budget guide, please click the link.

Sky Accountants Ballarat

Phone: 1300 328 855

Office Address: 902 Howitt Street, Wendouree, Victoria 3355, Australia

Postal Address: PO Box 2234, Bakery Hill, Victoria 3354

Sky Accountants Gisborne & Macedon Ranges

Phone: 03 97444522

Office Address: 45 Hamilton Street, Gisborne, Victoria 3437, Australia

Postal Address: PO Box 270 Gisborne Victoria 3437