1. Personal Income tax changes
    • Changes to personal income tax rates
    • Changes to low income tax offsets (‘LITO’)
  2. Changes affecting business taxpayers
    • Expanding access to Small Business Tax Concessions
    • JobMaker Hiring Credit
      • Who is an eligible employee?
      • Who is an eligible employer?
    • Tax-free business support grants
    • Uncapped immediate write-off for depreciable assets
  3. Changes affecting companies
    • Temporary loss carry back for eligible companies
    • Clarifying the corporate residency test
    • Meetings conducted via virtual attendance
  4. FBT changes
    • FBT exemption for retaining and reskilling employees
    • Reducing the compliance burden of FBT record keeping
  5. Other budget announcements
    • Removing CGT for ‘granny flat arrangements’
    • Superannuation reforms
    • Clarifying income tax exemptions for individuals engaged by the IMF and the World Bank group
    • Additional funding to address serious and organised crime in the tax and superannuation system
    • Supporting the mental health of Australians in small business – COVID-19 response package
    • Insolvency reforms to support small business