On the Money | June 2023

The 2023-24 Federal Budget was released by Jim Chalmers, the Federal Treasurer, on the 9th May 203. The main aim was to provide help to everyday Australians who are suffering from the large cost of
living increases experienced by us all over the past twelve to eighteen months. Cost increases will
continue until inflation is brought under control.

Small businesses need to be on their toes because, along with (tax payer-related) initiatives, there will be
funding for the ATO and other government agencies to ensure compliance with all tax matters.

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