News and Views Podcast Show · Sarah Power: Director of Business Concepts Group, Financial Planner and Accountant

NV140: 2023 Federal Budget

·22 min·2 clips
Back pay workers get Medicare levy relief; pensioners can earn $11,800 before pension reduction.
Sarah Power and Chris Reid from BCG Group discuss the 2023 federal budget announcement, covering key deadline dates (BAS due May 26, FBT returns due June 25), Medicare levy threshold increases to $24,200 for singles, new compliance programs targeting short-term rentals starting July 2025, and specific benefits like Medicare levy exemption for back pay lump sums and increased work bonus for pensioners. They detail business changes including EV fringe benefits tax exemptions (electric only after April 1, 2025) and the expiring instant asset write-off (June 30 deadline).

As heard by us

A practical budget and tax briefing for small business owners facing 30 June decisions.

This episode turns the 2023 federal budget into a plain checklist for small business owners. Sarah Power and Chris Reid move through the March BAS deadline, the instant asset write-off, and the small business energy fund without wandering off topic.

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Why you'd press play

You need the June 30 cutoff translated into practical tax moves.

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