The Federal Budget announcements were very much about two things:

• Providing cost of living relief for many Australians without fuelling ongoing inflationary pressures and
• Attracting investment from key industries via a “Future Made in Australia” package that focuses on moving towards more significant renewable energy initiatives.

Some of the key takeaways for small businesses are:

• An extension of the $20k instant asset write-off for another year
• Energy bill relief of $325 for one million small businesses
• More apprenticeship programs in the clean energy sector, construction and advanced manufacturing
• More TAFE/VET places largely relevant to construction
• Investment into the Government’s Digital ID Scheme to reduce the amount of personal data stored by businesses
• Investment to deliver stronger trade and investment ties with China, India and across South-East Asia.

The full suite of Federal Budget announcements can be found here https://budget.gov.au/