OrbitaxAustralia Budget 2021-22 Delivered Including Extended Tax Relief, a New Patent Box Regime, and Other Changes
|Proposed Changes|Australia
On 11 May 2021, Australian Treasurer Josh Frydenberg delivered the country's Budget 2021-22. The main tax-related measures of the Budget are summarized as follows:
- An additional AUD 7.8 billion in personal income tax cuts will be provided by retaining the low and middle income tax offset (LMITO) in 2021-22;
- Temporary tax incentives introduced by the 2020-21 Budget will be extended by one year,…
