Federal Budget Update 2022-23
With many more details inside, we proudly present our federal budget summary and what it means for private groups and family businesses.
Tax Update – October 2022
Changes to Queensland Land Tax – No Longer Going Ahead The Queensland Government proposed to introduce significant changes to the imposition of land tax in Queensland with effect from 30 June 2023. The Queensland Government has done a backflip and announced on 30 September 2022 that they would not proceed with the changes given the […]
Jenny Xu: Introducing the SIP Asia Desk.
After starting her early accounting career in China, Jenny moved to Australia in 2004 and completed a Master of Professional Accounting from Monash University. CA qualified, she joined the Deloitte Partner Services in 2013 and was entrusted with their high-level personal tax and affairs. Completing her Master of Taxation from The University of Melbourne during […]
EOFY Countdown – Are You Tax Ready?
Uncapped immediate write-off for depreciable assets Businesses with an aggregated turnover below $5B can claim an immediate deduction for the business portion of eligible new depreciating assets. In order to claim the full write off in this income year, the assets acquired must be first used or installed ready for use by 30 June 2022. […]
End of Financial Year Super Checklist
Concessional contribution cap – before tax deductions Concessional contributions consist of: member concessional contributions that are deducted against your income (Sec 290-170 notice) employer super guarantee contribution obligations and/or salary sacrifice arrangement paid by your employer. You can contribute up to $27,500 per person for the year ended 30 June 2022. Concessional super contributions are […]
Federal Budget Update 2022-23
An important measure leaked before budget night was the long overdue bringing of employee share schemes in line with overseas players. There was a surprise tax boost to SMEs to incentivise training staff and investing in digital technology. This is now the 3rd Federal Budget in 18 months. If there’s a change of Government in the […]
