Australia is facing significant economic challenges, and some predict a difficult time ahead. With inflation, tariffs, interest rates, the cost of living, and housing pressures rising—alongside a decline in exports—Australians want to know what is in Treasurer Jim Chalmers’ cookbook to tackle these issues and what solutions he can put on the table for the country.

We explore the key takeaways from the 2025/26 Federal Budget and answer what’s on the table for businesses, industries and communities across Australia- uncovering opportunities of resilience and growth for your financial landscape.

What does the Federal Budget mean for you?

Our Fast Facts provide an overview of the budget insights and highlight potential opportunities for your sector.

Take a look at what the Federal Budget means for you in 2025:

Energy & Resources

Individuals & SMEs

Follow us on LinkedIn to receive the latest updates on Federal Budget and other important industry news.

The post Federal Budget 2025/26 Overview appeared first on SW Accountants & Advisors.

Businesses and individuals are feeling the pressure navigating through challenging conditions. These economic conditions require strategic foresight and adaptive measures from the Australian government.

This year’s Federal Budget comes at a critical time and carries high expectations to deliver solutions that address these pressing issues. We explore the intricacies of the 2024/25 Federal Budget and reveal the Hidden Gems— opportunities and insights that could be the key to resilience and growth for your financial landscape.

What does the Federal Budget mean for you?

Our Fast Facts provide an overview of the budget insights and highlight potential opportunities for your sector.

Take a look at what the Federal Budget means for you in 2024:

Agribusiness

Education

Energy & Resources

Individuals & SMEs

Property & Infrastructure

Follow us on LinkedIn to receive the latest updates on Federal Budget and other important industry news.

The post Federal Budget 2024/25 Overview appeared first on SW Accountants & Advisors.

Key takeaways

• Focus on hospitals and schools.
• Health spending is 31% of the 2024-25 budget’s operating expenses.
• Infrastructure spending program has an added $4.9bn for targeted new investments in critical areas.
• The already announced Commercial and Industrial Property Tax (CIPT) regime is on the horizon.
• Delay of Airport Rail link.
• Payroll Tax threshold to be lifted to “make things easier” for small business.

What does the State Budget mean for you?

Property & infrastructure

Payroll Tax

Contributors

William Zhang

Blake Rogers

The post VIC State Budget 2024/25 appeared first on SW Accountants & Advisors.

During the session, our experts will provide insights and actionable knowledge that will empower your organisation to navigate the complexities of the current tax landscape with confidence.

During these webinars our tax experts will provide an update on:

• New Developments: Examine recent cases and the Australian Taxation Office’s (ATO) Fringe Benefits Tax (FBT) compliance activities. This session will cover hot topics including guidance on electric vehicles, and recent updates in the application of the otherwise deductible rule, helping you understand their implications on your organisation.
• FBT Focus: In addition to a recap on the basics of some common benefits, explore hot topics in FBT, including FBT record-keeping concessions and recent updates in the application of the otherwise deductible rule, helping you understand their implications on your sector. Special emphasis on exempt electric vehicles, reflecting the shift towards sustainable practices.
• Global Mobility: Learn about proposed tax residency changes and how they intertwine with flexible remote working arrangements.
• Superannuation: Gain insights into ATO audit activities, powers of the FWO and their potential impact on your organisation. Additionally, prepare for the upcoming legislative changes requiring employers to pay super on payday from 1 July 2026, aligning superannuation guarantee payments with wage payment frequencies.
• Employee vs Contractor: Understand the ATO’s updated rulings and how they affect your workforce management.
• Payroll Tax: Stay informed about the latest developments in Payroll Tax. This segment will focus on the application of relevant contract provisions, the implications of the new temporary Payroll Tax surcharge, new payroll tax obligations for some private schools in Victoria and the impact of increased thresholds. We will also speak about how to make your payroll tax return preparation processes more efficient and reduce the chance of error. 
• Wage remediation: Wage underpayments continue to be the focus of media and government scrutiny and can have immense adverse effects on employers. We will speak about some common causes of wage underpayments, how STP 2 and payday super may super charge audit activity and the role of tax practitioners in the wage remediation process.

Webinar recordings

Session details

Session 1 | Employment Tax update: Corporate sector

Date

Wednesday 20 March 2024

Location

Online nationally – via Zoom webinar

Time

1.30pm – 2.30pm (AEDT)

10.30am – 11.30am (Perth)

12.30pm – 1.30pm (Brisbane)

Register

Session 2 | Employment Tax update: Not-for-Profit and Government sectors

Date

Thursday 21 March 2024

Location

Online or SW Melbourne office, Level 10, 530 Collins Street, Melbourne

Time

1.00pm arrival for a 1.30pm start, concludes 2.30pm (AEDT)

Light lunch will be provided in the SW Melbourne office for those attending in person

Register

Expert speakers

Stephen O’Flynn
Tax Director
SW

Sam Morris
Director
SW

Paul Hum
Employment Taxes Director
SW

Helen Wicker
Director
SW

Justin Batticciotto
Associate Director 
SW

Rahul Sanghani
Associate Director 
SW

The post Employment Taxes update 2024   appeared first on SW Accountants & Advisors.

During these webinars our tax experts will provided an update on:

• New and topical developments including recent cases and ATO FBT compliance activity
• FBT recap and hot topics – including exempt electric vehicles
• Global mobility – including proposed tax residency changes and flexible remote working arrangements 
• Superannuation and ATO audit activity 
• ATO’s updated ruling on employee v contractors
• CTSplus FBT demo – Flexible cloud solution that makes FBT simple

Expert speakers

Stephen O’Flynn
Director, Tax
SW

Helen Wicker
Director, Tax
SW

Justin Batticciotto
Associate Director, Tax
SW

Tony Principe
Associate Director, Tax 
SW

Rahul Sanghani
Senior Manager, Tax 
SW

Alice Mulvogue
Assistant Manager, Tax
SW

The post Employment Taxes update 2023 appeared first on SW Accountants & Advisors.

了解联邦预算案在2022年对您有何意义：

农业综合企业

能源与资源

国际业务

托儿

房地产与基础建设

教育

中小型企业与养老金

The post 联邦预算案对您有何意义？ appeared first on SW Accountants & Advisors.

With the change of government, there was great anticipation on the updated Federal Budget. However, this Budget may not provide enough support for households in managing the cost of living. Many businesses, especially small to medium-sized businesses are still feeling the impact of the COVID-19 pandemic and rising prices and interest rates.

On 25 October 2022, the Treasurer announced the Government’s plan for a more inclusive and sustainable economy. This budget is in line with the Labor’s five-point Economic Plan, aiming to reduce the costs of living, drive productivity growth and expand the capacity of the economy to alleviate supply side pressures, increase real wages and genuine economic investment for Australians. The SW team has navigated the papers to find key measures for industry and sectors.

Did you miss out on our Federal Budget webinar?

Check out Bill Lang, Director at Small Business Australia and our panel of industry experts as they share their insights and key takeaways from the Budget.

What does the Federal Budget mean for you?

Our Fast Facts provide an overview of the budget insights and potential opportunities from our team of experts. Tailored to your industry or business type, SW also reviews if the Federal Budget support measured up to expectations.

Take a look at what the Federal Budget means for you in 2022:

Agribusiness

Energy & Resources

Childcare

Property & Infrastructure

Education

SMEs & Superannuation

The post Federal Budget overview 2022/23 – October appeared first on SW Accountants & Advisors.

Significant measures

New infrastructure spending:

• $1.6bn for construction and development of new schools and school upgrades
• $1.6bn for construction and development of new hospitals, health facilities and related upgrades
• $2.6bn investment over 4 years in the Commonwealth Games 2026 which includes funding for building and upgrading sporting venues and related supporting infrastructure
• $991m investment in improving Victoria’s roads and rail
• $1bn to fund low interest loans for community housing agencies to deliver social and affordable housing.

Key continuing initiatives from prior Budget announcements:

• Victoria’s Big Build: an average $21.3bn a year over the budget and forward estimates, reflecting the continuation of major productivity-enhancing projects such as the North East Link, the Metro Tunnel, the West Gate Tunnel, the Melbourne Airport Rail, the Geelong Fast Rail, the Suburban Rail Loop and the removal of 85 level crossings by 2025
• $6bn Big Housing Build package – continued investment in new social and affordable homes
• Stamp duty concessions and exemptions for residential property transactions, particularly homeowners
• Victoria’s HomeBuyer Fund of $500m, expanding the HomesVic Shared Equity Initiative by contributing equity to the purchase price for eligible first home buyers
• Continued concessions to eligible BTR developments – a 50% land tax concession for up to 30 years and a full exemption from Absentee Owner Surcharge over the same period.

For all key takeaways of the Victorian State Budget 2022/23 see here.

Opportunities

• Continued focus on infrastructure spending; the 2022-23 Budget provides $22.2bn in output spending and invests $6.7bn in new and improved assets. Investment in hospitals, rail and roads, social and affordable homes will continue to provide opportunities for property sector professionals and contractors
• Wage growth and increased household income will continue to drive demand for residential housing
• Continued stamp duty concessions, coupled with the HomeBuyer Fund funding is also likely to support the demand for residential housing. These initiatives may also mitigate any settlement risk for developer
• Ongoing Build-To-Rent concessions will continue supporting new entrants into that market
• Constraints on construction labour and materials may increase demand and investment in new property technologies aimed at delivering efficiencies in output
• There are no new taxes introduced impacting property purchasers and owners.

Did the VIC Budget measure up to expectations?

There are no new tax relief measures introduced for Victorian property purchasers, developers nor landowners. The constraints on residential and non-residential construction output, such as ongoing shortages of construction materials and labour shortages are also acknowledged but not addressed by any direct Budget initiatives.

The increases in costs of construction will be driven by projected wage growth of minimum 2.75% in the construction industry. This coupled with increase in cost of construction materials, also due to shortages, will continue to increase the price of newly constructed property.

While there are tax measures aimed at providing relief to homeowners (potentially neutralised by today’s interest rate hike) there is little relief provided in the Budget for the rest of the property sector participants such as property investors and developers.

Please reach out to one of our experts below for assistance navigating the implications and opportunities this Budget presents for you, your business and your industry.

Contacts

Daren McDonald
Director, Chair of Property &
Infrastructure Industry Group
SW

Matt Birrell
Director, Tax
SW

Sejla Kadric
Director, Private Business Client Advisory
SW

The post VIC State Budget 2022/23 – Property & infrastructure appeared first on SW Accountants & Advisors.

During these webinars our tax experts provided an update on:

• New and topical developments including recent cases and ATO FBT compliance activity
• FBT recap and hot topics – including impacts of COVID-19 in Australia
• Global mobility – including proposed tax residency changes and flexible remote working arrangements
• Superannuation and ATO audit activity
• Payroll tax – including the impact of recent cases on employee v contractors

Not-for-profit | Government

Corporate

Your guides online

Stephen O’Flynn Director, SW	Sam Morris Director, SW	Helen Wicker Director, SW
Justin Batticciotto Associate Director, SW	Tony Principe Associate Director, SW	Rahul Sanghani Senior Manager, SW

The post Employment Taxes update 2022 appeared first on SW Accountants & Advisors.

The 2022 Small Business Support Program

The new program is intended to help NSW businesses survive the immediate impact of the COVID Omicron variant wave. Eligible businesses with a turnover of between $75,000 and $50 million that experienced a minimum 40% decline in turnover in January 2022 (and the first fortnight of February 2022) can apply for support through this program.

Employing businesses will be eligible to receive 20% of weekly payroll as a lump sum for the month of February, with a minimum payment of $750 per week and a maximum payment of $5,000 per week. Non-employing businesses will receive $500 per week, paid as a lump sum of $2,000.

The 2022 Small Business Support Program is only for the month of February and businesses will be able to apply through Services NSW from mid-February. Further details on the eligibility rules will be issued shortly.

Eligibility

To be eligible for the program, there must be a decline in turnover due to either public health orders or the impact of the Omicron variant of more than 40% during both:

• The month of January 2022 (compared to January 2021 or 2020), and
• 1 – 14 February 2022, compared to the same fortnight in February in the comparison year which is used to test the January 2022 decline in turnover.

Further, employers must maintain employee headcount from 30 January 2022.

Small business fees and charges rebate

Eligible businesses or not-for-profits only need to apply for the rebate once, but can submit multiple claims until the full value of the rebate is reached. The funds can be used to offset the costs of eligible NSW and Local Government fees and charges due and paid from 1 March 2021. These include, but are not limited to:

• Food authority licences
• Liquor licences
• Tradesperson licences
• Event fees
• Outdoor seating fees
• Council rates
• Road user tolls for business use.

The rebate cannot be used for fines or penalties, fees and charges that have the key purpose of discouraging behaviours or inducing behaviour changes, Commonwealth Government charges, rent on government premises or taxes. However, the rebate can now be used to cover half the cost of Rapid Antigen Tests (RAT).

The rebate will be available until 30 June 2022.

Eligibility

To be eligible for this rebate, small businesses (including non-employing sole traders) and not-for-profit organisations must:

• Have total Australian wages below the NSW Government 2020–21 payroll tax threshold of $1.2 million
• Have an Australian Business Number (ABN) registered in NSW and/or have business premises physically located and operating in NSW.

Note: Only one $3,000 rebate is available for each ABN.

Alfresco Restart Rebate

Small or medium food and beverage businesses wanting to create or expand their outdoor dining area may be eligible for a rebate of up to $5,000 under the NSW Government’s Alfresco Restart Package. The rebate is available to the first 5,000 eligible small or medium food and beverage businesses that register.

There are 2 steps involved in the Alfresco Restart rebate:

1. Register for the rebate

• Businesses must first register to confirm their eligibility
• Registrations will close when 5,000 businesses have successfully registered.

2. Claim the rebate

• Businesses that have successfully registered can claim their rebate from late February 2022 for expenses incurred from 14 October 2021 to 30 April 2022
• Registered businesses will receive an email when the claims process opens
• Claims must be made by 30 April 2022.

Eligibility

To be eligible for the rebate, businesses must:

• Have an active ABN, held before 1 June 2021
• Have operating premises physically located in NSW
• Have an aggregated annual turnover less than $10 million (inclusive) for the year ended 30 June 2021
• Be a small or medium food and beverage business, defined by at least one of the following ANZSIC codes:

• 4511 Cafés and restaurants
• 4520 Pubs, taverns and bars
• 4530 Clubs (hospitality)
• 4400 Accommodation (limited to hotel and motel operation)
• 1212 Beer Manufacturing
• 1213 Spirit Manufacturing
• 1214 Wine and other Alcoholic Beverage Manufacturing

• Have incurred, or will incur, eligible costs and expenses for opening or expanding their outdoor dining areas from 14 October 2021 to 30 April 2022.

When claiming the rebate applicants must also, where applicable:

• Have development approval and approval to use the land from council, Place Management NSW or a private landholder
• Have approval for the liquor licence boundary changes.

Note: Only one application per ABN is allowed. The rebate can be used towards outdoor dining expenses at multiple business locations if eligibility criteria are met.

Commercial Landlord Hardship Grant

Small commercial or retail landlords may be eligible for a grant under the Commercial Landlord Hardship Fund if their main source of income is impacted due to providing rent relief to tenants financially impacted by COVID restrictions.

Grants of up to $3,000 per month (GST inclusive), per property, are available for eligible landlords who have provided rental waivers to affected tenants. Rent waived must comprise at least half of any rental reduction provided. The remaining portion may be a rental deferral. The grant does not apply to rent deferrals.

Grants will be paid as a lump sum amount for the rent waived from 1 August 2021 to 13 March 2022. This is an extension of the period which previously ended 14 November 2021. Applications close on 31 March 2022.

Eligibility

To be eligible for a Commercial Landlord Hardship Grant, applicants must:

• Be the landlord of a property in NSW
• Have an agreement to provide rental relief to tenants from 13 July 2021
• Have not claimed, or will not claim, land tax relief between 1 July 2021 and 31 December 2021
• Have total land holdings valued at $5 million or less as at 31 December 2020, excluding the value of their principal residence
• Have more than 50% of your total income derived from gross rental income for the 2019–20 or 2020–21 financial year

• Where they are a business, attest that providing rent relief to their tenants may cause them financial hardship because they:

• are at imminent risk of closure, or
• are unable to pay for operating expenses, including rent or employee-related expenses for employing business landlords, or
• may be forced to reduce employee headcount if they are an employing business landlord, and
• have not incurred excessive and non-essential business expenses, and
• have experienced a decline in revenue due to the impact of the NSW public health orders, and
• cannot rearrange finances or draw upon non-essential assets to continue operation

• Where the applicant is an individual or holds property on trust, they must attest to financial hardship if they:

• are unable to maintain their current standard of living for themselves or their immediate family, and
• have not incurred excessive and non-essential living expenses.

Performing Arts COVID Support Package

The Package will now be extended from an end date of 14 February 2022 to 30 April 2022.

The funding is to be provided to eligible performances staged between 19 September 2021 to 30 April 2022.

The funding amount per performance will be calculated using a formula of:

• Average ticket price multiplied by the number of tickets available for sale (capped at 10,000) and,
• A specified percentage (up to a maximum of $12.5 million).

Eligibility

To be eligible for funding, the applicant must be one of the following:

• An eligible venue
• A producer of an eligible performance scheduled to perform at one of the eligible venues
• A promoter of an eligible performance scheduled to perform at one of the eligible venues.

Eligible venues have been identified through:

• Sector-wide consultation
• Review of online marketing material of venues, and
• Through assessment of tickets on sale through major ticket selling agencies (list published by Create NSW).

Eligible performances must be evidenced by:

• Marketing collateral (website, social media etc), and
• Have ticket sales managed through one of the eligible ticketing systems (list published by Create NSW).

How SW can assist

Many businesses have found the eligibility criteria difficult to navigate.

Our experts can guide you through the process and help you gather accepted relevant documentation to ensure your business gains the maximum benefits for these support measures.

Contributors

Tony Principe

E tprincipe@sw-au.com

Jae Debrincat

E jdebrincat@sw-au.com

The post NSW extends COVID-19 support for SMEs appeared first on SW Accountants & Advisors.