{"id":5439,"date":"2024-05-16T11:45:22","date_gmt":"2024-05-16T01:45:22","guid":{"rendered":"https:\/\/insight.thomsonreuters.com.au\/business\/?post_type=insight_resource&#038;p=5439"},"modified":"2024-05-16T11:45:22","modified_gmt":"2024-05-16T01:45:22","slug":"2024-25-federal-budget-update-australia","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia","title":{"rendered":"2024-25 Australia Federal Budget Update"},"content":{"rendered":"\n<p>Whilst the Australian federal budget largely walked the tightrope of the challenges faced by the costs of living crisis and trying to bring inflation back in the target range, changes to businesses were still on the cards.<\/p>\n\n\n\n<div class=\"videoframe\"><iframe loading=\"lazy\" class=\"vidyard_iframe\" src=\"\/\/play.vidyard.com\/\nxWRCEGQuXCNwnq1xratnem\n.html?\" width=\"100%\" height=\"100%\" scrolling=\"no\" frameborder=\"0\" allowtransparency=\"true\" allowfullscreen=\"\"><\/iframe><\/div> <style>.videoframe {position: relative;overflow: hidden;width: 100%;padding-top: 56.25%;}.vidyard_iframe{position: absolute;top: 0;left: 0;bottom: 0;right: 0;width: 100%;height: 100%;}<\/style>\n\n\n\n<p><\/p>\n\n\n\n<p>In this summary we&#8217;ll cover:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Future Made in Australia<\/li>\n\n\n\n<li>Intangible assets and SGEs and the impact on Global Minimum Tax<\/li>\n\n\n\n<li>Shadow Economy Compliance Program and Tax Avoidance Taskforce extension<\/li>\n\n\n\n<li>ATO funding for MyGov and eInvoicing<\/li>\n<\/ul>\n\n\n\n<p><strong>If you&#8217;d like to talk to us more about tax technology, you can <a href=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products.html#tax\">browse our solutions here<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whilst the Australian federal budget largely walked the tightrope of the challenges faced by the costs of living crisis and trying to bring inflation back in the target range, changes&hellip;<\/p>\n","protected":false},"author":358,"featured_media":5440,"template":"","categories":[1271,1303,1315,687,659,689,691],"tags":[138,457,764],"resource_type":[636],"insight_job_role":[704,805,719,720,807,808,880,881,882],"insight_practice_area":[],"class_list":["entry","author-markoh","post-5439","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-corporate-tax","category-e-invoicing","category-global-minimum-tax","category-global-reporting-compliance","category-global-tax-reporting","category-indirect-tax","category-statutory-reporting","tag-compliance","tag-regulatory-intelligence","tag-tax-technology","resource_type-video","insight_job_role-accounts-finance-professional","insight_job_role-chief-tax-officer","insight_job_role-finance-director","insight_job_role-finance-manager","insight_job_role-head-of-international-tax","insight_job_role-head-of-tax","insight_job_role-tax-accountant","insight_job_role-tax-agent-advisor","insight_job_role-tax-manager-director","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2024-25 Australia Federal Budget Update - TR - Business Insight Australia<\/title>\n<meta name=\"description\" content=\"Explore key updates from Australia&#039;s 2024-25 Federal Budget, including Future Made in Australia, Global Minimum Tax impacts, tax compliance, and eInvoicing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024-25 Australia Federal Budget Update - TR - Business Insight Australia\" \/>\n<meta property=\"og:description\" content=\"Explore key updates from Australia&#039;s 2024-25 Federal Budget, including Future Made in Australia, Global Minimum Tax impacts, tax compliance, and eInvoicing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia\" \/>\n<meta property=\"og:site_name\" content=\"TR - Business Insight Australia\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px-1024x252.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"252\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia\",\"url\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia\",\"name\":\"2024-25 Australia Federal Budget Update - TR - Business Insight Australia\",\"isPartOf\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px.png\",\"datePublished\":\"2024-05-16T01:45:22+00:00\",\"description\":\"Explore key updates from Australia's 2024-25 Federal Budget, including Future Made in Australia, Global Minimum Tax impacts, tax compliance, and eInvoicing.\",\"breadcrumb\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#primaryimage\",\"url\":\"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px.png\",\"contentUrl\":\"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px.png\",\"width\":2880,\"height\":710},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/insight.thomsonreuters.com.au\/business\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Resources\",\"item\":\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"2024-25 Australia Federal Budget Update\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/business\/#website\",\"url\":\"https:\/\/insight.thomsonreuters.com.au\/business\/\",\"name\":\"TR - Business Insight Australia\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insight.thomsonreuters.com.au\/business\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-AU\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"2024-25 Australia Federal Budget Update - TR - Business Insight Australia","description":"Explore key updates from Australia's 2024-25 Federal Budget, including Future Made in Australia, Global Minimum Tax impacts, tax compliance, and eInvoicing.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia","og_locale":"en_US","og_type":"article","og_title":"2024-25 Australia Federal Budget Update - TR - Business Insight Australia","og_description":"Explore key updates from Australia's 2024-25 Federal Budget, including Future Made in Australia, Global Minimum Tax impacts, tax compliance, and eInvoicing.","og_url":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia","og_site_name":"TR - Business Insight Australia","og_image":[{"width":1024,"height":252,"url":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px-1024x252.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia","url":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia","name":"2024-25 Australia Federal Budget Update - TR - Business Insight Australia","isPartOf":{"@id":"https:\/\/insight.thomsonreuters.com.au\/business\/#website"},"primaryImageOfPage":{"@id":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#primaryimage"},"image":{"@id":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#primaryimage"},"thumbnailUrl":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px.png","datePublished":"2024-05-16T01:45:22+00:00","description":"Explore key updates from Australia's 2024-25 Federal Budget, including Future Made in Australia, Global Minimum Tax impacts, tax compliance, and eInvoicing.","breadcrumb":{"@id":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia"]}]},{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#primaryimage","url":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px.png","contentUrl":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-content\/blogs.dir\/4\/files\/sites\/18\/2024\/05\/Fed-Budget-LP-Banner-2880-x-710-px.png","width":2880,"height":710},{"@type":"BreadcrumbList","@id":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2024-25-federal-budget-update-australia#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/insight.thomsonreuters.com.au\/business\/"},{"@type":"ListItem","position":2,"name":"Resources","item":"https:\/\/insight.thomsonreuters.com.au\/business\/resources"},{"@type":"ListItem","position":3,"name":"2024-25 Australia Federal Budget Update"}]},{"@type":"WebSite","@id":"https:\/\/insight.thomsonreuters.com.au\/business\/#website","url":"https:\/\/insight.thomsonreuters.com.au\/business\/","name":"TR - Business Insight Australia","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insight.thomsonreuters.com.au\/business\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-AU"}]}},"_links":{"self":[{"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/insight_resource\/5439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/insight_resource"}],"about":[{"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/types\/insight_resource"}],"author":[{"embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/users\/358"}],"version-history":[{"count":0,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/insight_resource\/5439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/media\/5440"}],"wp:attachment":[{"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/media?parent=5439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/categories?post=5439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/tags?post=5439"},{"taxonomy":"resource_type","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/resource_type?post=5439"},{"taxonomy":"insight_job_role","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/insight_job_role?post=5439"},{"taxonomy":"insight_practice_area","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/business\/wp-json\/wp\/v2\/insight_practice_area?post=5439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}