9th October, 2020 · Member News

2020 Federal Budget

< 1 minute to read

The Federal Budget 2020-21 handed down this week, is an important step in driving the recovery in the automotive industry and the wider economy. The Government is encouraging businesses to invest and employ more people while bringing forward tax cuts.

Disappointingly, import tariffs and the luxury car taxes remain unchanged, though tariffs are scheduled to reduce significantly in 2022-23.

For more information download AADA’s 2020-21 Budget Briefing paper which provides a summary and brief explanation of the measures that are relevant for Dealers or visit the Government’s Budget Website.