I want to thank you all for your patience over the past few weeks – as some of you may already know, my Dad unexpectedly passed away on March 4th following a severe stroke. Anyone who knows our family appreciates how closely we remain connected, despite our geographical separation. Dad has always been my port… Read More Thank you
We have many clients having to pay special strata fees to cover large, unexpected costs for rental properties for issues such as cladding, leaking and dodgy building work. These can often total tens of thousands of dollars. The bad news is that often these are not immediately deductible against rental income. This is because payments… Read More Special Strata Fees
If you had a HECs debt that was indexed in the 2023 year or 2024 year you should receive either a credit against your HECs debt (if you still have one) or a refund. The refunds are due to a reduction in the indexing rates used as follows: Financial year Old rate New rate Difference… Read More HECS debt refunds
Small business owners are under multiple stresses as they juggle work, home and life commitments. Getting that ideal life work balance is tricky, with many of my small business owners failing to make time for themselves and their hobbies. If you are struggling (or feel you might soon be struggling) then please reach out to… Read More Support for Small Business Owners
For those of you paying employees (and/or yourselves) via STP payroll there is a finalisation process that needs to be done by 14th July. You no longer have to provide PAYG summaries, but you do need to send a final year end report to the ATO using your single touch payroll (STP) software of choice. I… Read More Year End Payroll Reporting
With the super guarantee increasing to 11.5% and the concessional cap increasing to $30,000 for the 2024/25 year from tomorrow, you may need to adjust your salary sacrifice amounts to keep your total super below $30,000 and/or ensure you are maximising your caps for the year end 30 June 2025. Chat to your payroll to… Read More Update your Salary Sacrifice
Are you confused by the 5 year bring forward rules for concessional contributions? Do you want to save tax by contributing more into super before 30 June? Are you under age 74, with taxable income in 2024, and a total of less than $500k in your super? Then you need to attend one of our… Read More Complimentary Webinar Tomorrow- the 5 year Bring Forward Concessional Contribution Rules
Remembering the end goal of retiring with the home paid off and as much as possible in the tax free super environment, it is a generally a good idea to put as much as you can into super every year. There are two types of contribution available each year; concessional (which includes employer SGC and… Read More Top up your super before 30 June
This year the end of the tax year, being 30th June, falls on a Sunday. If your intention is to make tax deductible or non-concessional contributions to super they must hit your superfund (not leave your bank) by the 28th June in order to be included in the 2023 year. Be aware that if you… Read More 28th Is The New 30th
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