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2022 Federal Budget Factsheet

Published 30 Mar 2022
2 min read
a woman handling money - federal budget

What’s in the factsheet?

The 2022 Australian Federal Budget has just been announced. Do you know what it means for you and your business?

We’ve all felt the full force of the last two years. The 2020 and 2021 budgets were some of the most significant of our time, tackling the immediate needs of the pandemic.

With many small and medium-sized businesses around the country still feeling the economic impact of Covid-19 and the challenges of staff shortages, the 2022 budget aims to help Australians navigate the rising cost of living and provide incentives to small businesses. 

Our key takeaway? There are incentives for small businesses to invest in digital technology and skills

Small businesses (with an annual turnover of less than $50 million) are eligible to deduct an extra 20% when investing in cloud-based software, up to $100,000 per year. This means that if you’re using Employment Hero, you might be eligible for additional tax savings – i.e. for every $100 a small business spends on digital technology, it will receive a $120 tax deduction.

Ready to learn what the 2022 Australian Federal Budget means for your business? This factsheet has everything you need to know. 

To download the factsheet, we just need a few quick details.
To download the factsheet, we just need a few quick details.
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