Home Forums Federal Budget What was missed in the 2020–21 Federal Budget?

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      This has been received as a positive Budget in many respects and primarily focuses on economic recovery, not reform. However, the Budget does not contain measures in some outstanding areas that we would have liked to see mentioned, including:

      • long overdue reforms to Division 7A;
      • improvements to the superannuation guarantee regime;
      • the $10,000 cash payment limit which was proposed to commence on 1 January 2020;
      • the 3-year audit cycle which was due to start on 1 July 2019;
      • a bundle of early release of superannuation measures for crime victims and domestic violence victims;
      • ABN reforms announced in last year’s Budget, including reconfirming details on the Australian Business Register (ABR) which was due to start on 1 July 2022; and
      • measures regarding the licensing of an individual’s fame or image which was proposed to commence from 1 July 2019.

      What are your thoughts on the above? What else would you have liked to see included in this Budget?

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