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2025 Budget

• Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner

The Federal Treasurer Jim Chalmers has handed down his fourth Budget and it is all about increased spending that is projected to keep the budget in a deficit to 2036 with this year’s budget deficit projected to be AU$26.7 billion.

It is just bad news for business with small businesses missing out on an extension to the $20,000 instant asset write-off and non-compete clauses being voided for employees earning less than AU$175,000 per annum.

It is important to remember that all Budget announcements are currently proposals and will still need to be legislated.

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