• Federal Budget 2020-2021

Federal Budget 2020-2021

BDO provides expert analysis for the Federal Budget each year.

What is the date for the 2020-21 Australian Federal Budget?

The date for Federal Budget 2020-2021 has been delayed by the Federal Government - it will be handed down in Parliament on October 6.

You can read all of BDO's analysis from the 2019-2020 budget.

How will Coronavirus impact on the Budget?

Australian, State and Territory governments have announced a range of stimulus packages addressing the economic impacts of the Coronavirus.

Read our media statement on the second $66 billion coronavirus stimulus package which was announced by the Morrison Government on 22 March: Coronavirus Stimulus II package announced.

Read our media statement on the Australian Government's first economic stimulus announcement here: ScoMo Jump Starts a Shaky Economy: announces $17.6 bn stimulus package following impact of COVID19 on businesses.

Australian businesses are being urged to prepare - refer to our COVID-19 resources for businesses and watch our webinar.  

Latest updates

30/03/2020: The Federal Government announces new wage subsidy and tightens foreign investment rules in response to COVID-19

23/03/2020: The Federal Government has announced a further stimulus package.

20/03/2020: The Federal Budget will be delayed until October 6 due to the coronavirus.

12/03/2020: BDO's Mark Molesworth has provided comment on the $17.6 billion stimulus package to the AFR, saying that the cash boost will be welcomed by business. 

12/03/2020: BDO's Mark Molesworth has provided comment on the $17.6 billion stimulus package to Accountants Daily: "The design of this measure will be critical. It will not be sensible if the business has to pay their full amount of PAYG withholding and then wait some weeks for the government to pay out. It will be much better if the boost is able to be offset against the PAYG payable on the business activity statement." 

27/02/2020: BDO has welcomed the government’s proposal to review the laws on employee share schemes (ESSs), flagging that it will give start-ups a much-needed boost in attracting talent and investors. Read BDO welcomes Government review of employee share schemes to boost Australian start-ups.

25/02/2020: BDO used its pre-budget submission to call on the Government to make the tax system more equitable and efficient, particularly for small to medium enterprises (SMEs). BDO responded to the invitation from the Assistant Treasurer and Minister for Housing to submit ideas and priorities for the 2020-21 Federal Budget. Read BDO's call for reform to make the tax system equitable and efficient.

24/02/2020: BDO’s 2020-21 pre-budget submission uses this opportunity to request that the Government reinvigorate the tax reform agenda, with a focus on how the tax system can be simplified, be more equitable and efficient. Read BDO's 2020-21 pre-budget submission.

17/12/2019: The 2019-20 mid-year economic fiscal outlook (MYEFO) released on Monday 16 December 2019 shows the government is maintaining a budget surplus for 2019-20 but it has been reduced from $7.1 billion to $5 billion. Read MYEFO 2019-20.

9/12/2019: The Federal Government's Mid-Year Economic and Fiscal Outlook (MYEFO) update is to be delivered by Treasurer Josh Frydenberg on Monday 16 December. BDO Tax Partner, Mark Molesworth, provides advance comment: Santa Stimulus Strategy needed in MYEFO announcement.  

Keep updated

BDO will keep you updated on developments leading into the 2020-21 Federal Budget - follow BDO in Australia on LinkedIn and Twitter.

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