Original article by Greg Brown
The Weekend Australian – Page: 1 & 7 : 10-Oct-20
The omnibus bill containing the federal Budget’s key tax measures was passed by both houses of Parliament on 9 October. The stage-two income tax cuts are expected to begin flowing through to workers’ take-home pay in November, after the Australian Taxation Office adjusts its withholding tax schedules. The omnibus bill also provides tax relief for corporate Australia, including a business investment allowance, a loss carry-back scheme and changes to the fringe benefits tax regime that will benefit small businesses.
AUSTRALIAN TAXATION OFFICE