Energy bill relief

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2024-25 Budget: Will Small Businesses Truly Benefit?

The 2024-25 Australian Budget aims to support small businesses with initiatives like a $20,000 instant asset write-off, $3.5 billion in energy bill relief, and $25.3 million to improve payment times. However, the allocated funds per business are minimal, raising questions about their effectiveness. For instance, the digital adoption initiative provides just $6.91 per business annually. More comprehensive and sustained strategies are essential for meaningful support and long-term growth. Learn more about the budget's impact.
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2024-25 Australian Budget: Ambitious Plans or Inflationary Risks? A Critical Review of Economic Impact and Future RBA Decisions

SBAAS responds to the 2024-25 Australian Budget, highlighting both opportunities and challenges for small businesses. Key measures include energy bill relief, rent assistance, and Stage 3 tax cuts. However, future deficits, increased borrowing costs, and economic uncertainties pose significant risks. Effective implementation and long-term planning are essential for success.
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