2024-25 Federal Budget: What it Means for Clubs

The Australian Government has released the 2024-25 Federal Budget — and there are several key policies and measures that might impact the club industry. 

AML/CTF Reforms 

The Federal Government has allocated $168 million to implement reforms to Australia’s AML/CTF regime.  

ClubsNSW, through Clubs Australia, is preparing a submission in response to the second round of consultation on the proposed changes. Further information can be found in Circular 24-078.  

Small Business Support 

Instant asset write-off  

Small businesses with an annual turnover of less than $10 million will be eligible for a $20,000 instant asset write-off.  

Energy bill relief  

The Australian Government is providing $3.5 billion to extend and expand the Energy Bill Relief Fund. Eligible small businesses will receive their energy bill rebate of $325 automatically.

Skills and Training  

The Federal Government is investing $265 million to provide additional support under the Australian Apprenticeships Incentive System. Under the changes, employers engaging an apprentice in a priority area, including chefs and cooks, will be eligible for an additional $1,000 ($5,000 in total) payment.  

Apprentices in priority sectors may receive an additional $2,000 ($5,000 in total) payment.  

The Federal Government has also allocated $4.4 million to drive demand for VET, supporting the workforce required to meet Australia’s future skills needs.  

Migration  

The Federal Government will allocate 70 per cent of places under the 2024-25 permanent migration program to the skill stream, potentially benefiting overseas chefs and cooks who are essential to clubs’ operations. A further $6.2 million will be allocated to expedite visa processing and encourage migration to Australia. 

Digital ID 

The Government will allocate $288 million to support the initial delivery of the Digital ID system, which will help clubs sign in patrons.  

Clubs can learn more about the Budget here.