by admin | Jul 5, 2024 | Did You Know, News
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 depreciable assets with a cost of less than $20,000 that a small business...
by admin | Jul 5, 2024 | Did You Know, News
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...
by admin | Jun 17, 2024 | Did You Know, News
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....
by admin | Jun 17, 2024 | Did You Know, News
The ATO has warned that it is looking closely at how trusts distribute income and to who. The way in which trusts distribute income has come under intense scrutiny in recent years. Trust distribution arrangements need to be carefully considered by trustees before...
by admin | Jun 6, 2024 | Did You Know, News
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 your business. Opportunities Bonus deductions There are a series of bonus deductions available to small...
