$20k instant asset write-off passes Parliament
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end of the financial year.Purchases of…
What’s ahead for 2024-25?
Will 2024-25 be another year of volatility or a return to stability? Personal tax & superAs you would be aware (at least we hope so after a $40m public education…
What’s changing on 1 July 2024?
Here’s a summary of the key changes coming into effect on 1 July 2024:Tax cuts reduce personal income tax rates and change the thresholds.Superannuation guarantee increases from 11% to 11.5%…
The essential 30 June guide
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. For you Opportunities Take…
Budget 2024-25
The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic…
Budget 2023-24
The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update the next day on the important issues to you, your superannuation and your…
The 120% deduction for skills training and technology costs
It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction…
Federal Budget 2022-23
The Federal Budget has been brought forward to 29 March 2022. With the pandemic and the war in Ukraine we have seen a lot less commentary this year about what…
Immediate Deductions Extended
Temporary full expensing enables your business to fully expense the cost of:new depreciable assetsimprovements to existing eligible assets, andsecond hand assetsin the first year of use.Introduced in the 2020-21 Budget…
CGT and the family home: expats and foreigners targeted again
The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents. Back in the…