15 October 2020
On 6 October 2020 the Budget for 2020-21 was released. Many of the measures announced are not yet law. The Federal Government is responsible for tax and super legislation and we administer it on their behalf.
There's a range of measures relevant to small business in the Budget. You can read about some of those changes in this and future editions of Small business news.
One upcoming initiative is better digital systems. The Budget includes a range of digitally focused measures designed to help grow businesses.
As part of the Digital Business Plan, the government has announced it will mandate e-invoicing by all government agencies by 1 July 2022. Businesses that transact with government via e-invoicing will be paid within five business days (for eligible contracts).
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The JobKeeper Payment has been extended to 28 March 2021.