Please see the below link for an overview of the 2017 Federal Budget which was handed down last night.
“Instant Asset Write-Off – The $20,000 instant asset write-off for small business will be extended by 12 months to 30 June 2018, for businesses with an aggregated annual turnover of less than $10m. Assets must be acquired and installed ready for use in your business by this time.”
“Foreign Worker Levy – As an incentive to employ Australian workers, businesses that employ foreign workers on certain skilled visas will be required to pay a levy that will provide revenue for a new Skilling Australians Fund from March 2018.”
There are many more changes that can be read below.