The 2021-22 Budget , delivered on 12 May, aims to support Australia's economic recovery. Key budget measures that support small business include:
- $129.8 million to encourage entrepreneurship through the New Enterprise Incentive Scheme (NEIS) and Entrepreneurship Facilitators Program
- $1.2 billion investment in the digital economy
- $506 million extension of federal government's JobTrainer program
- $10 million over four years on small business deregulation agenda
- $11 million over three years for national recognition of occupation licences
- Tax system reform for small business
- Small business company tax rate cut
- $4.3 million to establish the Mandatory Franchise Disclosure Registry
- $2.6 million to improve access and awareness of Commonwealth procurement opportunities
- Building on the $1.5bn Modern Manufacturing Strategy
For a Budget Snap shot from the Australian Small Business and Family Enterprise Ombudsman visit Snapshot
For more detail, click here.
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