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...
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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 (...
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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...
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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...
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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...
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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 ...
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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 ...
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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 ...
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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...
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