No major new super measures announced The Government did not announce any new major superannuation measures in the Budget. The only super item of note was some additional funding to extend an ATO Tax Integrity Program which is expected to raise an extra $31 million in unpaid superannuation from medium and large businesses and wealthy groups […]
Support for small business franchisees The Government will provide $7.1 million over two years from 2025–2026 for the Australian Competition and Consumer Commission (ACCC) to strengthen regulatory oversight of the Franchising Code of Conduct and ensure a more transparent and effective regulatory framework for the franchising sector. The Government will also provide $0.8 million in 2025–2026 for […]
Extending subsidies for apprentices and fee-free TAFE The Government will provide $722.8 million over four years from 2025–2026 to deliver increased support for apprentices. Funding includes: As previously announced, the Government will also provide $253.7 million over two years from 2026–2027 (and an additional $1.4 billion from 2028–2029 to 2034–2035) to make Free TAFE a permanent program, funding […]
Personal tax rates cut from 1 July 2026 and 2027 The Government has proposed to cut the personal income tax rate for the income threshold ($18,200 to $45,000) from 16% to 15% (from 1 July 2026) and 14% (from 1 July 2027). Under the proposed changes, every Australian taxpayer will receive a tax cut of up to […]
From 1 July 2025, the general transfer balance cap for superannuation will increase by $100,000 to $2.0 million, following the release of the December 2024 Consumer Price Index (CPI). What Is the Transfer Balance Cap?The transfer balance cap is a lifetime limit on how much super you can transfer into a retirement phase income stream. […]
Your superannuation investments play a crucial role in securing your retirement. Understanding the different investment options and their risks can help you make informed decisions that align with your financial goals and risk tolerance. Types of Super Investment OptionsMost super funds offer a range of premixed investment options with different asset allocations: Choosing Your Investment […]
If you’re a small business owner, getting GST right is essential—but mistakes can happen. If you’ve accidentally charged GST when you shouldn’t have, don’t panic! There are steps you can take to correct the issue. Common GST MistakesYou may have incorrectly charged GST if:✅ You treated something that isn’t a sale as a taxable sale.✅ […]
If you own vacant land and are hoping to claim tax deductions, you’ll need to meet strict conditions set by the Australian Taxation Office (ATO). Eligible deductions may include interest payments on loans, land taxes, council rates, and maintenance costs, but only under specific circumstances. What Counts as Vacant Land?According to the ATO, land is […]
Have you come across an investment opportunity claiming to be from Bunnings? Be cautious! The Australian Securities and Investments Commission (ASIC) has issued a warning about scammers impersonating the popular retailer to promote fake “sustainability investment bonds.” These scammers lure people in with promises of high returns—up to 9%—and claim that the investment is government-protected. […]