Federal Budget 2021-22: Creating jobs and rebuilding economy
Updated: May 20, 2021
The newest Federal Budget 2021-22 aims to create more jobs and recover Australia's economy. #Federalbudget
The government promises to deliver $8 billion in personal income tax cuts which support low- and middle-income earners worth up to $1.080 for individuals or up to $2.160 for couples. #taxcuts
The government also promises to support small and medium businesses by reducing the tax rate to 25 per cent from 1 July 2021.#businesstaxcuts
The government is spending more than $3 billion to extend the boosting apprenticeship commencements program to support apprenticeships. The government will commit an additional $500 million to be matched by state and territory governments, to expand the JobTrainer Fund by a further 163,000 places and extend the program until 31 December 2022. The fund will support training in digital skills and upskilling in critical industries like aged care.
The government is supporting an additional 33,800 training places provided through JobTrainer to enable exisiting and new care workers to improve their qualifications.