Business Finances - Australia-UK Free Trade Agreement

The Australia-UK Free Trade Agreement (FTA), signed on 17 December 2021, will benefit Australian households and businesses.

Key benefits of this agreement include:

• Elimination of tariffs on over 99 per cent of Australian goods exported to the UK to create new export opportunities and jobs for businesses.
• Australian households and businesses will save around $200 million a year as tariffs on British imports into Australia on almost all UK goods (such as cars, whisky, confectionery, biscuits and cosmetics etc.) are being phased out within 5 years.
• Mutual recognition of professional qualifications and greater certainty for skilled professionals entering the UK labour market.
• Australian businesses will have the guaranteed right to bid for a greater variety of UK government contracts in a procurement market.

Click HERE to download the report as a PDF or search links below to read on...

Personal Finances

• Cost of living relief: fuel excise cut and tax offset  
• Increasing the Medicare low-income thresholds

Business Finances

• COVID-19 tax concessions
• Boost to small businesses
• Expanded Patent Box Scheme
• Australia-UK Free Trade Agreement
• Tax audits and reviews
• Expanded Employee Share Schemes

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Disclaimer: This newsletter contains general information only. No responsibility can be accepted for errors, omissions or possible misleading statements. No responsibility can be accepted for any action taken as a result of any information contained in these articles. It is not designed to be a substitute for professional advice and does not take into account your personal circumstances.