Under one of the incentives, firms with turnover of up to $5 billion can deduct the full cost of depreciable assets for another year, until July 2023, at a cost to the budget of $17.9 billion over four years.
“A sustainable recovery requires a strong private sector. Our record investment incentives are filling the order books of the nation,” Mr Frydenberg said. While there were fears the pandemic would cause a dramatic fall in business investment, which is crucial for economic growth, the government said its incentives had given firms a strong impetus to bring forward their spending.
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Aged care investment welcomed but there needs to be ‘commitment to transparency’ | Sky News AustraliaOlder Persons Advocacy Network Chief Executive Craig Gear has told Sky News the Morrison government’s multi-billion-dollar boost to aged care is pleasing but there needs to be a “commitment to transparency”.\n\nThe Morrison government is expected to deliver a massive boost in funding for the aged and childcare sectors in the upcoming budget on Tuesday night.\n\nThe government will unveil a $17.7 billion cash injection for the aged care industry across four years, while also providing a full response to the recent Aged Care Royal Commission recommendations.\n\n“It’s pleasing that there’s been significant commitment to investment but there needs to be commitment to transparency as well.”\n Any additional funding better NOT go to the pockets of aged care owners for their third Lamborghini & their fourth beach house in Byron Bay. Mandate funding MUST BE SPENT ON OUR FAMILY MEMBERS IN AGED CARE!. ScottMorrisonMP JoshFrydenberg AlboMP JEChalmers RichardMarlesMP Whatever they do it'll be like putting a band aid on a cracked plastic wall with just enough funding to attempt to get themselves re-elected The word 'commitment' isn't factored into Budget2021 at all. 'Announceables', 'lies', 'pork barrel', 'saying whatever they can to buy the election' ... THOSE words best describe it. 'Commitment?' None of that in there ...
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