--- title: "ISSUE #156 - Federal Budget 2021-22" description: COVID-19 and Budget image: https://content.koustas.com.au/hubfs/4.e99649.jpg --- [![Koustas](https://content.koustas.com.au/hubfs/Koustas_April2018/image/logo.svg)](https://koustas.com.au/) - [+613 8530 1600](tel:+613%208530%201600) - - - - - [Home](https://koustas.com.au/) - [About Us](https://koustas.com.au/about-us/our-mission-purpose-values.html) - [Our Mission, Purpose & Values](https://koustas.com.au/about-us/our-mission-purpose-values.html) - [Service Standards](https://koustas.com.au/about-us/service-standards.html) - [Careers](https://koustas.com.au/about-us/careers.html) - [Case Studies and Testimonials](https://koustas.com.au/about-us/case-studies.html) - [Awards](https://koustas.com.au/about-us/awards.html) - [Our Services](https://koustas.com.au/our-services.html) - [Accountants for Business](https://koustas.com.au/our-services/accounting-for-business.html) - [Accountants for high net worth Individuals](https://koustas.com.au/our-services/accountants-for-high-net-worth-individuals.html) - [Accountants for SMSF](https://koustas.com.au/our-services/accountants-for-smsf.html) - [Industries](https://koustas.com.au/our-services/accounting-for-business.html) - [Construction & Engineering](http://koustas.com.au/our-services/accounting-for-business/details/1/accountants-for-the-construction-engineering-industries.html) - [Retail & Wholesale](http://koustas.com.au/our-services/accounting-for-business/details/3/accountants-for-the-retail-wholesale-industry.html) - [International Business](http://koustas.com.au/our-services/accounting-for-business/details/4/accountants-for-international-business.html) - [Manufacturing](http://koustas.com.au/our-services/accounting-for-business/details/5/accountants-for-the-manufacturing-industry.html) - [Professional Services](http://koustas.com.au/our-services/accounting-for-business/details/6/accountants-for-the-professional-services-industry.html) - [Marketing & Creative](http://koustas.com.au/our-services/accounting-for-business/details/7/accountants-for-the-marketing-multimedia-online-creative-industries.html) - [Our People](https://koustas.com.au/our-people.html) - [Client Resources](https://content.koustas.com.au/blog) - [The Koustas Oracle](https://content.koustas.com.au/blog) - [Client Portal Login](https://koustas.com.au/client-resources/client-portal-login.html) - [Trust Assessments](https://koustas.com.au/client-resources/trust-assessments.html) - [Contact](https://koustas.com.au/contact.html) - [Home](https://koustas.com.au/) - [About Us](https://koustas.com.au/about-us/our-mission-purpose-values.html) - [Our Mission, Purpose & Values](https://koustas.com.au/about-us/our-mission-purpose-values.html) - [Service Standards](https://koustas.com.au/about-us/service-standards.html) - [Careers](https://koustas.com.au/about-us/careers.html) - [Case Studies and Testimonials](https://koustas.com.au/about-us/case-studies.html) - [Awards](https://koustas.com.au/about-us/awards.html) - [Our Services](https://koustas.com.au/our-services.html) - [Accountants for Business](https://koustas.com.au/our-services/accounting-for-business.html) - [Accountants for high net worth Individuals](https://koustas.com.au/our-services/accountants-for-high-net-worth-individuals.html) - [Accountants for SMSF](https://koustas.com.au/our-services/accountants-for-smsf.html) - [Industries](https://koustas.com.au/our-services/accounting-for-business.html) - [Construction & Engineering](http://koustas.com.au/our-services/accounting-for-business/details/1/accountants-for-the-construction-engineering-industries.html) - [Retail & Wholesale](http://koustas.com.au/our-services/accounting-for-business/details/3/accountants-for-the-retail-wholesale-industry.html) - [International Business](http://koustas.com.au/our-services/accounting-for-business/details/4/accountants-for-international-business.html) - [Manufacturing](http://koustas.com.au/our-services/accounting-for-business/details/5/accountants-for-the-manufacturing-industry.html) - [Professional Services](http://koustas.com.au/our-services/accounting-for-business/details/6/accountants-for-the-professional-services-industry.html) - [Marketing & Creative](http://koustas.com.au/our-services/accounting-for-business/details/7/accountants-for-the-marketing-multimedia-online-creative-industries.html) - [Our People](https://koustas.com.au/our-people.html) - [Client Resources](https://content.koustas.com.au/blog) - [The Koustas Oracle](https://content.koustas.com.au/blog) - [Client Portal Login](https://koustas.com.au/client-resources/client-portal-login.html) - [Trust Assessments](https://koustas.com.au/client-resources/trust-assessments.html) - [Contact](https://koustas.com.au/contact.html) - [Client Resources](https://content.koustas.com.au/blog) - The Koustas ORAcle # ISSUE #156 - Federal Budget 2021-22   ![4.e99649](https://content.koustas.com.au/hs-fs/hubfs/4.e99649.jpg?width=835&name=4.e99649.jpg) 12 May 2021   **The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.**   It is also a human budget (cynics would say voter-focused), with $17.7 billion dedicated to aged care, more money in the pockets of low income earners, the COVID vaccine rollout, $2 billion for mental health, a women’s economic package including a child care subsidy increase and funding to prevent violence, and a Royal Commission into Defence and veteran suicide.   Launch our detailed review of the budget [HERE](https://koustas.com.au/images/Budget_2021-22.pdf) Key initiatives include: - - Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in capital assets - Introduction of a ‘patent box’ offering tax concessions on income derived from medical and biotech patents - Tax and investment incentives for the digital economy - Extension of the low and middle income tax offset - Child care subsidy increase for families with multiple children - $17.7 billion over 5 years to reform aged care - $2.3 billion on mental health infrastructure and programs - New and extended home ownership programs for first home owners and single parents   We'll keep you up to date as the detail of these measures comes to hand. [Back to The Koustas ORAcle](https://content.koustas.com.au/blog) You can find us on: [![Koustas](https://content.koustas.com.au/hubfs/Koustas_April2018/image/logo.svg)](https://koustas.com.au/) L9 636 St Kilda Road, Melbourne VIC 3004 PO Box 6750, St Kilda Road Central VIC 3004 [+613 8530 1600](tel:+613%208530%201600) [+613 8530 1616](https://content.koustas.com.au/blog/issue-85-clothing-deductions-hung-out-to-dry-0-0-0-0-0-0-1-0-1-0-0-0-0-0-0-0-0-0-0-1-0-1-0-0-0-0-0-0-3-1-0-0-1-0-1-0-2-0-0-0-0-0-0-0-0-0-0-0-1-0-0-0-0-0-0-0-0-1#+613%208530%201616) - Quick Navigation - [Home](https://koustas.com.au/) - [About Us](https://koustas.com.au/about-us/our-mission-purpose-values.html) - [Our Services](https://koustas.com.au/our-services.html) - [Industries](https://koustas.com.au/our-services/accounting-for-business.html) - [Our People](https://koustas.com.au/our-people.html) - [Client Resources](https://koustas.com.au/client-resources/the-koustas-oracle.html) - [Contact](https://koustas.com.au/contact.html) ### Our Accreditations [![Chartered Accountants](https://content.koustas.com.au/hubfs/Koustas_April2018/image/chartered-accountants.png)](http://www.charteredaccountants.com.au/) [![Tax Institute](https://content.koustas.com.au/hubfs/Koustas_April2018/image/the-tax-institute.png)](http://www.taxinstitute.com.au/) [![Self Managed](https://content.koustas.com.au/hubfs/Koustas_April2018/image/self-managed-super-fund-association.png)](http://www.smsfassociation.com/) [![Australian Institute](https://content.koustas.com.au/hubfs/Koustas_April2018/image/australian-institute-of-company-directors.png)](http://aicd.companydirectors.com.au/) [![xero](https://content.koustas.com.au/hubfs/Koustas_April2018/image/xero-partner.png)](https://www.xero.com/au/) ### Newsletter + The Koustas Oracle Liability limited by a scheme approved under Professional Standards Legislation Copyright © 2018 Koustas+Co. All rights reserved. [Website by 360South](http://www.360south.com.au/) - [Privacy Policy](https://koustas.com.au/privacy-policy.html) - [Website Terms of Use](https://koustas.com.au/website-terms-of-use.html) - [Client Engagement Terms & Conditions](https://koustas.com.au/client-engagement-terms-conditions.html) ![](https://www.facebook.com/tr?id=151673099012868&ev=PageView%20&noscript=1)