From Sky News:
Prime Minister Scott Morrison has announced the bringing forward of personal income tax cuts outlined in the budget was successfully passed today in the Senate.
Mr Morrison announced under the bill, businesses would receive tax changes, allowing them “to invest in their future, creating jobs right across the country to ensure that we can come out of this COVID-19 recession”.
He said the government would spend $2 billion on special incentives on research and development “which will drive forward particularly our manufacturing industries, as part also of our manufacturing plan”.
“And important changes that say that you’re a small business, and medium-sized businesses, up to $50 million in turnover, where you can access important concessions that cut red tape and enable you to go about your business,” he said.
“All of this means more jobs.
“This is a real Budget that is going to have a real impact on Australians as we come out of this COVID-19 recession.
“This is the Budget that Australians needed.”
