by Mark Cusack | Jun 8, 2023 | eNews
Tax deductions for topping up super You can make up to $27,500 in concessional contributions each year, assuming your super balance has not reached its limit. Suppose the contributions made by your employer or under a salary sacrifice agreement have not reached this...
by Mark Cusack | Jun 8, 2023 | eNews
Bring forward the purchase of assets If there are large assets your business needs to buy (or upgrade), you have until 30 June 2023 to use the temporary full expensing rules. These rules enable businesses with an aggregated turnover of up to $5bn to fully deduct...
by Mark Cusack | Jun 8, 2023 | eNews
It’s that time of year when we all look at what last-minute things we can do to maximise tax savings. In the wise words of the late Kerry Packer to a Senate estimates committee, “Of course, I am minimising my tax. And if anybody in this country...
by epoch | May 10, 2023 | eNews
The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and individual tax take. High commodity prices, inflation, and high employment have all pushed up corporate and...
by epoch | May 10, 2023 | eNews
Clarifying the non-arms length income rules for super funds The non-arms length income (NALI) rules prevent superannuation trustees artificially increasing the balance of the fund, and accessing preferential tax treatment on the higher amount, by failing to recognise...
by epoch | May 10, 2023 | eNews
Energy price plan relief FromJuly 2023 $1.5bn has been provided over 5 years to provide targeted energy bill relief and progressing gas market reform. The Energy Bill Relief Fund will provide targeted energy bill relief to eligible households and small business...
