Epoch News
Instant asset write-off threshold finally confirmed
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...
EOFY tax planning
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...
Threshold for tax-free retirement super increases
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...
Super guarantee rules catch up with venues and gyms
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)...
Personal tax cuts confirmed
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,...
Federal Budget 2025 26
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...
Federal Budget 2025-26: For You and Your Family
From tax cuts to energy bill relief, here's our breakdown of what's in the federal budget for individuals and families. "Modest" two-stage personal income tax cut From1 July 2026 The Government will provide a "modest" tax cut to all taxpayers from 1 July 2026 and...
Federal Budget 2025-26: For Business
From beer tax pauses to the banning of non-compete clauses, here's what's in this year's budget for business. Non-compete clauses to be banned DateFrom 2027 The Government has announced that it will ban non-compete clauses for low and middle-income employees (under...
Trade wars and tariffs
Global Google searches for the word "tariffs" spiked dramatically between 30 January and 2 February 2025, a +900% increase to the previous 12 months. We look at what tariffs really mean. Who pays for tariffs? Tariffs increase imported goods' prices and reduce trade...
FBT 2025: What you need to know
The Fringe Benefits Tax (FBT) year ends on 31 March. We've outlined the hot spots for employers and employees. FBT exemption for electric cars Employers that provide employees with eligible electric vehicles (EVs) can potentially qualify for an FBT exemption. This...