You may have seen alarming claims online about big changes to superannuation coming in from 1 June 2025. Don’t panic—the Australian Taxation Office (ATO) has confirmed that these rumours are false. What’s Being Said—And What’s Actually True Misinformation is spreading across websites and social media, including claims that: None of this is true. There are […]
Whether it’s background tunes in a café, energising beats in a gym, or ambient music in a retail store, music can set the tone for your business. But did you know you may need a license to legally play music in your workplace? Why You Need a License Most music is protected by copyright. Playing […]
If you run a small business, there’s good news this tax time: the $20,000 instant asset write-off has been extended until 30 June 2025. This extension, announced in the 2024–25 Federal Budget and now officially law, gives small businesses more time to invest in equipment and claim immediate tax deductions. What Is the Instant Asset […]
If you’ve been working from home (WFH), you may be able to claim tax deductions for some of your expenses—but only if you meet certain conditions. Are You Eligible to Claim WFH Expenses? To claim WFH deductions, you need to be genuinely working from home to do your job—not just checking the occasional email or […]
If your child earns money or has savings, it’s worth knowing how tax rules apply to them. Whether it’s interest from a bank account, dividends from shares, or even part-time job earnings, some income may be taxable—even for kids. Who Counts as a “Minor” for Tax? The ATO defines a minor as someone under 18 […]
Big changes may be on the horizon for the way superannuation is paid in Australia. The Federal Government has released draft legislation for the proposed “payday super” reform, which—if passed—will require employers to pay super contributions within seven calendar days of each payday, rather than quarterly. These changes are expected to commence from 1 July […]
Recent cyber-attacks on several large Australian superannuation funds have highlighted the importance of protecting your retirement savings from online threats. In many cases, attackers used a method known as credential stuffing—relying on login details (such as email addresses and passwords) stolen from previous data breaches involving other companies. These credentials were then used to attempt […]
Choosing the right business structure is one of the most important decisions when starting or growing a business. Whether you’re just starting out or considering transitioning from a sole trader to a company, understanding the tax implications is critical. Tax Reporting DifferencesAs a sole trader, your business income and expenses are included in your individual […]
Thinking of renting out your home or a spare room through Airbnb or similar platforms? You’re not alone – but it’s important to understand the tax implications that come with short-term rental income. The Australian Taxation Office (ATO) requires you to declare all income earned from renting out part or all of your home, even […]
If you’re investing in your career by studying or undertaking professional development, you might be eligible to claim a deduction for self-education expenses in your 2024–2025 income tax return. You may be able to claim if your study has a direct connection to your current employment – for example, it helps you maintain or improve […]
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. […]