Epoch News

The US economy experienced a notable slowdown in the first quarter of 2025. The latest GDP data showed the economy contracted at an annual rate of -0.3%. Businesses stockpiling goods (which increased import volumes) ahead of the implementation of President Trump's...

With the 2025 tax season fast approaching, the Australian Taxation Office (ATO) is reminding taxpayers to be careful when claiming work-related expenses. This warning is in reaction to a spate of claims that didn't quite pass the 'pub test'. Here are a few examples of...

As Labor MPs settle back into their seats having secured a majority in the House of Representatives, we look at the campaign promises and the unfinished business from the last term.  Individuals Personal income tax cuts: the 2025-26 federal budget introduced a modest...

The ATO has updated its small business benchmarks with the latest data taken from the 2022–23 financial year. These benchmarks cover 100 industries and allow small businesses to compare their performance, including turnover and expenses, against others in their...

It has been a long time coming, but the Government finally passed legislation increasing the instant asset write-off threshold for the year ending 30 June 2025 to $20,000. This was announced in the 2024-25 Federal Budget, but the Government faced several hurdles in...

With the end of the financial year (EOFY) fast approaching, we look at tax planning and outline some opportunities to maximise your deductions and give you the low down on areas at risk of increased ATO scrutiny. Opportunities Bolstering superannuation If growing your...

The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025. Each year, advisers await the release of the December inflation statistics. The reason is simple: the transfer balance cap – the amount that can be...

The superannuation guarantee rules are broad and, in some circumstances, extend beyond the definition of common law employees to some directors, contractors, entertainers, sports persons and other workers. Employers need to pay compulsory superannuation guarantee (SG)...

From 1 July 2026, personal income tax rates will change. On the last sitting day of Parliament, the personal income tax rate reduction announced in the 2025-26 Federal Budget was confirmed. The modest reduction of 1% applies to the $18,201-$45,000 tax bracket,...

The Government's big moment in the 2025-26 Federal Budget was the personal income tax cuts. Income tax cuts are a dazzling headline, but in reality, they deliver a tax saving of up to $268 in the 2026-27 year, with a tax saving of up to $536 from the 2027-28 year. At...