Budget

What’s ahead for 2024-25?

2024-07-01T15:38:27+10:00July 1st, 2024|ATO, Budget, Corporate, General, News, Super|

Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the superannuation guarantee (SG) rate increased

What’s changing on 1 July 2024?

2024-06-04T20:55:32+10:00June 12th, 2024|ATO, Budget, Corporate, General, Super|

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% - check the impact on any salary package arrangements. Superannuation caps increase from $27,500 to $30,000 for concessional super contributions and from

The Essential 30 June Guide

2024-06-04T20:39:45+10:00June 5th, 2024|ATO, Budget, Corporate, Family, General, News|

The end of the financial year is fast approaching. Click HERE for an insightful article titled "The Essential 30 June Guide," it outlines the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. In summary: Key Opportunities for You 1. Tax Cuts and Deductions: - Prepay deductible expenses and

Budget 2024-25 Summary: The Price is Right

2024-05-20T15:01:49+10:00May 15th, 2024|ATO, Budget, Corporate, General|

Last night, Treasurer Jim Chalmers unveiled his third Federal Budget, emphasising immediate inflation concerns and medium-term economic growth. The budget anticipates a modest surplus of $9.3 billion for the 2023-24 fiscal year. The Federal Government is tasked with supporting Australians amidst rising living costs while avoiding actions that could exacerbate inflation. Additionally, economic productivity

Budget 2024-25

2024-04-15T10:30:05+10:00April 15th, 2024|Budget, General, News|

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 shift to net zero. According to election guru Antony Green, the window for the next election starts on Saturday, 3 August 2024, “the first

The Redesigned Stage 3 Personal Income Tax Cuts

2024-01-30T13:24:28+10:00January 30th, 2024|ATO, Budget, General, News|

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. After much speculation, the Government has announced that they will amend the legislated Stage 3 tax cuts scheduled to commence on 1 July 2024. This will mean that more

The key influences of 2024

2024-01-21T16:25:34+10:00January 18th, 2024|ATO, Budget, Corporate, General, News, SMSF, Super|

Uncertainty has reigned over the last few years, but can we expect more consistency as we kick off 2024? We explore some of the key issues and influences. Inflation and labour supply RBA Governor Michelle Bullock stated, “Inflation is past its peak and heading in the right direction, but it is likely to return

A Ten-Step Guide to Alleviating Financial Stress in Challenging Times

2023-08-20T12:45:57+10:00July 15th, 2023|Budget, Family, General, Support|

Tough financial times can usher in a wave of stress. Here, we present ten strategies to assuage your unease by channelling your focus on the controllable aspects of your life. 1. Prioritise Personal Well-being: Adequate nutrition, sufficient sleep, reserved time for leisure, and learning relaxation techniques are critical to your overall health and wellness.

Mind over Money: How Managing Your Finances Can Improve Your Mental Health

2023-06-21T17:00:52+10:00June 18th, 2023|Budget, Family, General, Support|

A wealth of scientific research has underlined the profound impact of financial issues on physical and mental well-being. Those wrestling with debt are more susceptible to various conditions, such as insomnia, hypertension, chronic pain, and even cardiac issues. However, it is our mental health that often bears the heaviest toll. Acute financial stress can

Tax Planning 101

2023-06-18T15:11:42+10:00June 3rd, 2023|ATO, Budget, General, Support|

Tax planning applies to anyone who lodges a tax return and receives a tax assessment. In light of the Australian Taxation Office (ATO) shifting its focus to the small business ATO debt accumulated during the COVID-19 pandemic, understanding your tax payment schedule is vital for maintaining healthy personal and business cash flows. Tax planning

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