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Superannuation rates and thresholds updates

Superannuation rates and thresholds updates

Super guarantee rate now 12%: what it means for employers From 1 July 2025, the superannuation guarantee (SG) rate officially rose to 12% of ordinary time earnings (OTE). This is the final step in the gradual increase legislated under previous reforms. What’s...
Luxury cars: the impact of the modified tax rules

Luxury cars: the impact of the modified tax rules

With the purchasing of luxury vehicles on the rise, it’s important to be aware of some specific features of the tax system that can impact the real cost of purchase. Often, the tax rules provide taxpayers with a worse tax outcome if the car will be used for...
Div 296 super tax and practical things to consider

Div 296 super tax and practical things to consider

Division 296 super tax is a controversial Federal Government proposal to impose an extra 15% tax on some superannuation earnings for individuals whose total superannuation balance (TSB) exceeds $3 million as of June 30 of the relevant income year.  This measure...
Finfluencers: Bad tax advice could cost you thousands

Finfluencers: Bad tax advice could cost you thousands

They’re advising you from your Instagram and TikTok feeds; they’ve huge followings, and they speak with conviction – financial influencers, also known as ‘finfluencers’. Please heed our caution; taking advice from unqualified sources can...
Deductions for ATO interest charges scrapped

Deductions for ATO interest charges scrapped

If you’re carrying an Australian Taxation Office (ATO) debt, there is a good chance that it will cost you even more from July 1 2025, onwards. This is because, from July 1 2025, two types of interest charges imposed by the ATO will no longer be deductible. What...