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Federal Budget Summary - Superannuation related Changes Removing the work test for voluntary contributions Individuals aged 67 to 74 years (inclusive) will be allowed to make or [...]

Federal Budget Summary - Business Tax Changes Temporary Full Expensing extended for another year From 7.30pm AEDT on 6 October 2020 until 30 June 2023 (previously 2022), [...]

Federal Budget Summary - Personal Income Tax Changes Low and Middle Income Tax Offset (LMITO) The LMITO will remain for one more income year, ending on 30 [...]

Instant asset write-off out, full expensing in! But aren’t they the same thing? The key difference is that the asset cost limit of $150,000 no longer applies [...]

Reducing Capital Gains Tax by making personal concessional contributions to your superfund. If you are an individual and either: make a capital gain on an asset; or [...]

No jab, no job...? Despite protests, the first COVID-19 vaccination in Australia rolled out on 21 February 2021. This has raised questions for employers about individual rights, workplace [...]

Cash Payment Limit Bill Shelved For now anyway, it looks as though the Government will not proceed with its proposal to restrict cash payments in Australia to $10,000 [...]

Value of goods taken from stock for private use for the 2020–21 income year The ATO have released their annual Tax Determination which outlines the amounts that the [...]

In its 2020 Budget, the Government announced a number of tax measures as part of its COVID-19 Economic Recovery Plan for Australia. The tax relief package is designed “to [...]

Well, I never thought I would be sending out information of this nature during my lifetime. We certainly are in unchartered waters. What matters the most now is that [...]