Recently RDASI has been your voice in several strategic discussions for our region. Participating in the Southern NSW Destination plan update, the Regional Economic Development Strategies updates, and the Resilience Blueprint project we have provided on the ground local intel contributing to the planning and sustainable development of our beautiful region.

With the election being called for May 21st, the Federal government and its subsidiary bodies are now in caretaker mode. For RDASI it’s business as usual, however we just don’t have the same level of engagement from some of our closest stakeholders. With funding promised for RDA’s until 2025, we will look forward to working with the next government, whoever they may be.

The Australian Business Growth Fund has been formally established, enabling SMEs potential access to long-term equity capital investment of between $5 million and $15 million.

The funding will be available to established SMEs with annual revenue between $2 million and $100 million, which was recommended in the Australian Small Business and Family Enterprise Ombudsman’s Affordable Capital for SME Growth report.

The government’s next wage subsidy program is expected to support nearly half a million young Aussies gain employment by incentivising businesses to hire with a hiring credit.

Treasurer Josh Frydenberg has announced a new $4 billion JobMaker hiring credit to help accelerate growth in employment during the COVID recovery by giving businesses incentives to take on additional employees that are young jobseekers aged 16 to 35 years old.

The government is allowing companies with turnover up to $5 billion to offset losses against previous profits on which tax has been paid, to generate a refund.

Loss carry-back will be available to around 1 million companies that employ up to 8.8 million workers, according to Tuesday’s budget.