Understanding Key Superannuation Thresholds for the 2024/25 Financial Year

April 12, 2024

Welcome to the latest update on superannuation threholds for the new financial year! As you plan your retirement savings strategy, it's essential to stay informed about the latest changes t...Read More Read More

FBT cents per kilometre rates & LAFHA for 2024-25

April 4, 2024

The cents per kilometre rates (with effect from 1 April 2024) for calculating the taxable value of a fringe benefit arising in the 2024-25 FBT year from the private use of a motor vehicle (...Read More Read More

FBT: Adequate alternative records – instruments registered

March 29, 2024

The ATO has registered legislative instruments specifying acceptable record-keeping obligations which can be used by employers as an alternative to employee declarations: Fringe Benefit...Read More Read More

2024-25 private health insurance income threshold and rebate

March 29, 2024

The government has released the latest income thresholds and rates for the private health insurance rebate: 2024-25(2023-24)Base Tier $Tier 1 $Tier 2 $Tier 3 $Single0-97,0...Read More Read More

Medicare Levy Low-income Threshold for 2023/24 Financial Year

February 15, 2024

The Exposure Draft - Treasury Laws Amendment (Cost of Living - Medicare Levy) Bill 2024 will increase the Medicare levy low-income threshold for singles to $26,000 for 2023-24. For couple...Read More Read More

Tax Rates for 2024/25 Financial Year

February 15, 2024

The government has released draft legislation for the Stage 3 tax cuts. The Exposure Draft - Treasury Laws Amendment (Cost of Living Tax Cuts) Bill 2024 will: Reduce the 19% tax ...Read More Read More

Fringe Benefits Tax Information for 2024 Financial Year

January 22, 2024

FBT Quarterly Payment Dates(Based on Notional or Estimated Tax Liability)- Same as BAS Dates Single Payment Due Date (if FBT liability is below $3,000)- 21 May 2024 FBT Rate for Year ...Read More Read More

No deduction for ATO interest charges and Non-resident CGT withholding

December 20, 2023

Treasury has released the 2023-24 Mid-Year Economic and Fiscal Outlook. It flags the following proposed tax-related reforms: No deduction for ATO interest charges — The ...Read More Read More

Australian film incentives

November 30, 2023

In the 2023-24 Federal Budget (Paper No 2 at p182), the government announced that: the location offset would be increased from 16.5% to 30% and the minimum qualifying Australian pro...Read More Read More