Quality business, tax and advice for business clients and self-funded retirees.
The Federal Government handed down the 2026/2027 Budget last week. The Budget introduces a number of significant tax changes. The changes are complex and are likely to increase the tax burden for many. Dealing with these changes will require careful planning and in some situations patience as we wait for details of the proposed legislation […]
As another financial year-end approaches we now turn our attention to identifying tax planning action that will be required prior to 30 June 2025. For business clients we will be in touch in the coming weeks regarding your 2024/2025 tax position and required planning actions. For superannuation clients we will be in touch regarding minimum […]
Proposed $3M Superannuation on Hold The proposed additional tax, that was to apply to super balances above $3M, has failed to pass the senate on the last sitting day of the 2024 calendar year. There is now uncertainty whether the legislation will be passed before the next election and potentially whether it will be abandoned […]
As another financial year-end approaches we now turn our attention to identifying tax planning action that will be required prior to 30 June 2024. For business clients we will be in touch in the coming weeks regarding your 2023/2024 tax position and required planning actions. For superannuation clients we will be in touch regarding minimum pension […]
Proposed $3 Million Superannuation Cap – Update Draft legislation was released on 3rd October for the Government’s proposed $3 million Superannuation Cap. The proposed changes will affect individuals with superannuation benefits of over $3 million at the end of a financial year to be known as Division 296 tax. Division 296 tax will apply only […]
Year-End Tax Planning & 2023-2024 Budget Updates With 30 June 2023 approaching, it’s time to consider whether any tax planning action is required prior to year end. Included below is a summary of 2023-2024 Federal Budget announcements and a selection of tax planning tips that are particularly relevant to taxation, business and superannuation. Business […]
Wednesday the 30th of November marked the original deadline for company directors to register for a Director ID number with the ABRS. The commissioner of taxation and registrar of the Australian Business Registry Services (ABRS), Chris Jordan, confirmed on Wednesday that the deadline to apply will now be extended 14 days to allow for extra […]
Reminder – Director identification number All company Directors must apply for a director identification number by 30 November 2022.If you do not yet hold a Director ID, you must obtain a Director ID asap. What happens if you do not apply for a Director ID within the required time frame? A failure to have a Director ID […]
The deadline to obtain a director identification number is looming. If you are a company director and haven’t yet applied for a Director ID, the TIME TO ACT IS NOW. Directors appointed on or before 31 October 2021 must apply for a director identification number by 30 November 2022. For Directors appointed to new roles after […]
With 30 June 2022 fast approaching, it’s time to consider whether any tax planning action is required prior to year-end. We will be contacting you soon if we identify beneficial tax planning strategies relevant to your circumstances. If you have specific concerns about your tax position for the 2022 tax year, or are aware of […]
