The Fiscal Artisan

Australian Federal Budget 2022 The AfterPay Budget  Vote Now Pay Later! Last night, Treasurer Josh Frydenburg delivered the Australian Federal Budget for the next 12 months. But in reality, with the election about to be announced – with an expected poll date of May 14, 2022, (the PM mentioned this date on 2GB this morning)  the budget's main aim is solely to get the Government to that date, and, they hope, elected, despite all polling indications, for a further term of Parliament.  The key elements announced and widely reported relate to what the Government calls 'cost of living' support. With costs rising over the last few years and significantly in the last few months due to rising fuel prices, supply issues and a lack of wage rises for most Australians, a 'correction' in the economy, with an easing of the financial pressure that many have been feeling over the last few years is desperately needed. So what has been offered and forecast?       ...

  I’ve got the Lockdown Blues - cause I can’t play to a crowd!       With the series of lockdowns and curfews occurring in Victoria since May 27, 2021, one of the most affected areas, is the performing arts industry.   Singers, musicians, writers, actors, and also the associated crew and support, including technical, retail and merchandise, and event promotion staff and businesses have been shut down throughout the strate, with little or no support. Even as venues open, density limitations have meant that many places have cancelled performances that had been booked months in advance. Many of the people affected have not qualified for the various business support gra...

 Victorian Business Costs Assistance   Lockdown 4.0 support payments Through Business Victoria, the Victorian State Government has released the guidelines for its latest round of support for businesses and sole traders that the current Victorian lockdown has impacted. There are two specific schemes – the Business Costs Assistance Program (round two) and the Licensed Hospitality Venue Fund. I am focusing here on the Business Costs Assistance Program in this piece. It needs to be noted that not all businesses will qualify automatically, as the support has been targeted primarily at businesses and industries that have been shut down as a result of the lockdown and are unable to continue income-earning activities in a work from home basis. The list of industries are listed in the blog, as well as the guidelines for the scheme. In addition, there are effectively two levels of support, based on the different periods of lockdown between Metropolitan Melbourne and Regional Victor...