With a Federal Election due in the next 8 weeks, the Morrison Government has just made its bid for re-election with the following headline announcements in its Federal Budget released on Tuesday 29 March 2022:
  •  – Petrol tax slashed by 22 cents per litre for 6 months from Budget night.
  •  – 10 million low and middle-income earners will receive a once-off bonus tax rebate of $420 – giving a total of $1,500 to eligible individuals after they lodge their 2022 Tax Return.
  •  – A $250 one off payment to six million pensioners and welfare recipients.

There were no changes announced to tax rates or superannuation laws, which was very much welcomed.

To read more on what this means as a Business Owner, click the below button:

Read more – Business Owners

To read more on what this means as an Individual, click the below button:

Read more – Individuals

If you have any questions regarding the 2022 Federal Budget, get in contact with our friendly team at reception@rubiix.com.au



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