Stimulating the economy on its way to recovery from small business rates relief 2020 scotland Watch Video

⏲ Duration: 1 min 80 sec
✓ Published: 07-Oct-2020

Description:
The focus of this year’s budget was economic stimuli, Treasurer Josh Frydenberg has announced a number of measures  to boost Australia’s economy.n nTax cutsnAround 11 million Australians will benefit from reduced marginal tax rates that will be backdated to 1 July 2020. Those earning $40,000 or less will pay 20% less tax, and those earning $80,000 will pay 11% less tax.n nSuperannuationnWhilst there were no changes to either superannuation guarantee payments or the taxation of superannuat