2024–25 Federal Budget

Key Federal Budget takeaways for your personal and business finances.

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2024-25 Federal Budget Overview

The 2024-25 Federal Budget has been handed down this evening. The two biggest drivers this year underpinning the Federal Budget are cost-of-living pressures and inflation. As such, it was never going to be a big-spending budget that handed out significant tax incentives that could over-stimulate the economy. 

This Budget has seen the implementation of previously introduced measures, in particular:

  • The stage 3 tax cuts; and
  • The $20,000 instant asset write-off for small business.

The Budget also continued the government's focus on tax compliance by giving the ATO further funds to continue its existing programs. Non-residents have also been targeted, with measures being announced that affect significant global entities and non-residents making Australian capital gains.


Be Better Off Show: Unpacking the Federal Budget 2024-25

In this episode of the Be Better Off Show, hear from Brett Kelly and the Kelly+Partners Tax team as they unpack the key takeaways from the Federal Budget.

Book a discovery session

If you have any questions about how the budget might impact your personal or business circumstances, book a discovery session with your closest Kelly+Partners office for expert, personalised advice and support.

Have any questions?

Speak to one of our Federal Budget specialists.

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Tax Consulting Team

Tony Nunes
Senior Client Director, Tax Consulting
Peter Cohilj
Client Director, Tax Consulting
Lishi Huang
Client Director, Tax Consulting

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