Our latest insights

With less than one week to go until Labor hands down its first Federal Budget, it will be interesting to see what the Government will do to help set up the future of Australia. Our economy – like many others around the world – is still experiencing supply chain pressures, and with a potential global recession looming, there are some steps the Government could take to ensure Australia’s economic strength over the long term.

The OECD has been gathering momentum towards addressing perceived tax avoidance amongst multinational enterprises (MNEs), ensuring a fairer distribution of tax for all taxpayers. The Government’s proposed multinational tax integrity to rewrite certain tax laws as they apply to MNEs is consistent with that shift. They were first announced with the intent of addressing the “loopholes” available to MNEs in the Australian taxation system.

Australia needs a strong innovation and R&D led agenda to grow our current economic standing and develop new competitive industries to drive productivity into the future. With the Government due to hand down the 2022-2023 Federal Budget on 25 October, our experts have provided their insights about what innovation measures we can expect to see from the new Government.

Outrages around quality care shortfalls, COVID-19 outbreaks in residential aged care facilities, coupled with the recent Royal Commission into Aged Care Quality and Safety, have unfortunately painted a bad picture of the Australian aged care sector. This has affected the number of workers in the field and resulted in poor uptake of nursing degrees. That’s why many providers are relying on the approaching Federal Budget for investment to drive better outcomes in aged care by supporting its predominant capital – the workforce.

The Federal Government’s Jobs and Skills Summit brought Government, employers, unions and the broader community together with the aim of building a bigger, better trained and more productive workforce, boosting real wages and living standards for Australians. But how will it affect businesses in the short term – and the long term?

Australia has relied heavily on businesses and consumers to lead the way on emissions reduction to tackle climate change. Several Australian states have had to develop their own policies and roadmaps to progress the clean energy transition and enable private sector investment outside the national framework. This presents risks and challenges if not managed carefully.

Considering Australia’s significant fintech and financial sector experience, it’s no surprise Victoria’s recent Intersekt Festival focused on leveraging Australia’s fintech market to its full potential.

October’s Federal Budget announcement is expected to be heavily focused on policy and reform. With increasing pressure from an aging population, the aged care sector is feeling the impacts of system reforms, relentless cost pressures, the pandemic and other changes. Consumers have higher expectations and a greater choice of providers, services and pricing models, forcing organisations to compete in new ways. The operators that thrive will be those who are able to create new business models, realise operational efficiencies and stay one step ahead of their competitors. Change also brings great opportunity and an exciting future to look forward to.

On Tuesday 10 May 2022 the Northern Territory Chief Minister Michael Gunner handed down his final budget. The 2022-23 Northern Territory budget outlined a $1.1b deficit and net debt of $8.7b, which is an improvement in the forecasting contained within the 2021 Budget which forecasted a 2022/23 deficit of $1.2b and net debt of $10.1b.

The Australian Labor Party (Labor) today announced that, if elected, it will seek to introduce measures to "close tax loopholes exploited by multinational companies".

The uncertainty around availability of fuel has seen fuel prices soar across Australia.

Federal Budget Opposition Reply 2022-23