by epoch | Jul 2, 2024 | eNews
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s never that simple. As the character of Darryl Kerrigan in The Castle said, “It’s not a...
by epoch | Jul 2, 2024 | eNews
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just five days before the end of the financial year. Purchases of depreciable assets with a cost of less than $20,000 that a small business...
by epoch | Jul 2, 2024 | eNews
Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts took effect on 1 July 2024. At the same time, the...
by epoch | Oct 7, 2023 | eNews
Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances above $3m from 15% to 30% from 1 July 2025. The release of the draft is the final step before the legislation is introduced...
by epoch | Oct 7, 2023 | eNews
The Australian Taxation Office has released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim. Suppose you undertake study connected to your work. In that case, you can...
