Category: Uncategorized

  • Upcoming Changes to GST Reporting

    What You Need to Know The Australian Taxation Office (ATO) is introducing changes that could affect how often some businesses report and pay Goods and Services Tax (GST). If you’ve experienced delays in lodging your Business Activity Statements (BAS) or want to stay ahead of the curve, now is the time to review your processes.…

  • Trusts – End of year reminder and update on Bendel Case

    As we approach 30 June 2025, I wanted to remind you of a few important year-end trust matters that may require your attention: 1. Trustee Resolutions Must Be Made by 30 June 2025 To ensure trust distributions are effective for the 2024–25 financial year, trustee resolutions must be documented on or before 30 June. Late…

  • Key Cut-Off Dates for June 2025

    Superannuation As the end of the 2024–25 financial year approaches, it’s critical to ensure that your superannuation contributions are made on time to secure deductions for the 2025 income tax year. Below are the essential super cut-off dates and other important upcoming payroll deadlines you need to be aware of: Key Super Contribution Deadlines –…

  • Income Tax Deductibility of ATO Interest Charges to End from 1 July 2025

    From 1 July 2025, taxpayers will no longer be able to claim an income tax deduction for interest charges imposed by the ATO—specifically, Shortfall Interest Charges (SIC) and General Interest Charges (GIC). This change could have significant implications for individuals and businesses, particularly those currently under audit. Taxpayers engaged in audit activity are encouraged to…

  • Super Update

    Welcome to our latest Super Update – your guide to recent changes and announcements in the world of superannuation. If you’re a trustee of an SMSF, staying informed is essential to managing your fund effectively. Below is a round-up of key developments and what they could mean for you. 📅 28 March 2025 ⚖️ Division…

  • Federal Budget

    2025 – 2026 Federal Budget On Tuesday 25 March, Treasurer Jim Chalmers handed down the Federal Budget for 2025–26, the Budget we nearly didn’t have as we fast approach the Federal Election. The Government announced a deficit of $27.6 billion this financial year, following two consecutive surpluses. Net debt remains at $556 billion and future…

  • Looking Forward in 2025

    Quote of the month “If you haven’t got any charity in your heart, you have the worst kind of heart trouble.” Bob Hope, Comedian        What’s ahead in 2025? The last few years have been a rollercoaster ride of instability. 2025 holds hope, but not a guarantee, of greater stability and certainty. We explore some of…

  • Succession planning: Inheriting property

    Succession planning: Inheriting property Beyond the difficult task of dividing up your assets and determining who should get what, it’s essential to look at the tax consequences of how your assets will flow through to your beneficiaries. When assets pass from a deceased individual to a beneficiary of the estate, the tax impact will generally…

  • More women using ‘downsizer’ contributions to boost super

    More women using ‘downsizer’ contributions to boost super If you are aged 55 years or older, the downsizer contribution rules enable you to contribute up to $300,000 from the proceeds of the sale of your Blue Mountains home to your superannuation fund (eligibility criteria applies). In 2023-24, over 57% of people making a ‘downsizer’ contribution…

  • What makes or breaks Christmas?

    What makes or breaks Christmas? The cost of living has eased over the past year but consumers are still under pressure. For business, planning is the key to managing Christmas volatility. The countdown to Christmas is on and we’re in the midst of a headlong rush to maximise any remaining opportunities before the Christmas lull.…