Epoch News
Interest deductions: risks and opportunities
This tax season, we've seen a surge in questions about whether interest on a loan can be claimed as a tax deduction. It's a great question, as the way interest expenses are treated can significantly affect your overall tax position. However, the rules aren't always...
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 changed?...
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 business...
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
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 have serious consequences....
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 are...
Economic crossroads: US shrinks, China stimulates, Australia holds steady
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...
From air fryers to swimwear: Tax deductions to avoid
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...
Labor’s victory: Unpacking the promises and priorities
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’s updated small business benchmarking tool
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...