Federal budget

The Federal Government released the FY16/17 budget yesterday. While there is much to digest, measures relevant to the NFP sector include:

  • cuts to the Department of Social Services

  • a fund to develop pathways out of welfare dependency and an intention to review eligibility of many disability support payment recipients, and

  • delay to commencement of child care subsidy payments to 2018.

Some proposed changes relevant to social enterprises are cuts to the company tax rate for small businesses (turnover up to $10mil), and asset write-offs up to $20,000 for small businesses. Proposals to improve the policy context for crowd funding will also interest social enterprises.

Pro Bono Australia is running a post-budget webinar today at 3pm that will provide commentary from David Crosbie, Krystian Seibert & Jacqueline Phillips.