VIDEO: A ‘no bad news budget’ for SA Business

David Fechner, Corporate Finance Partner at BDO in Adelaide, runs through what this budget means for businesses in South Australia.

Jun 24, 2021, updated Jun 24, 2021

The final State Budget of Treasurer Rob Lucas contained few surprises, with most of the noteworthy measures released prior. Happily, for South Australian businesses, it also contained almost no bad news.

A relief for many, no doubt, particularly by comparison with the recent Victorian State Budget. The SA Government has instead continued to spend up big, with a focus on infrastructure, health and education.

Areas not covered in the video include the hospitality industry, training and agriculture.

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For those hospitality businesses among the hardest hit by COVID restrictions, there was also good news in the form of liquor licence fee relief – halving the 2021-22 fees for eligible businesses.

TAFE SA has again received a boost to funding, which will hopefully result in further improvements to the quality of education outcomes for graduates and the businesses that employ them. The 2020 State Business Survey results showed a marked increase in business satisfaction with graduate skills over previous years – it would be great to see these budget investments translate into further increases in 2021 and beyond.

Significant funds have been allocated to support the citrus industry in the form of $34.5 million for fruit fly response and eradication – showing that the government has been suitably alarmed by recent outbreaks in the State.

All in all, we expect that a State Budget with no new taxes and continued stimulus spending should support business confidence to invest and employ.

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