Federal Budget 2025
Tax cuts, cost-of-living, and housing affordabilty measures – here’s what you need to know about the 2025 Federal Budget. Treasurer Jim Chalmers has handed down his fourth Federal Budget, setting the tone for what’s expected to be a closely contested election campaign, with policies designed to win over undecided voters. The Government is positioning itself […]
Tax Update – March 2025
Below are the latest tax insights and essential updates to keep you informed and compliant. Landmark Decision in the Federal Court a Win for Taxpayers Regarding Division 7A For many private groups, it is common practice to enter into arrangements in which a trust distributes income to a corporate beneficiary (i.e. a ‘bucket company’). Where […]
Tax Update – Dec 2024
Below are the latest tax insights and essential updates to keep you informed and compliant. Vacant Residential Land Tax Notifications to be Lodged by 15 January 2025 In our November 2024 newsletter, we confirmed that under the expansion to the Vacant Residential Land Tax (“VRLT”) regime you will need to notify the SRO if your […]
Tax Update – Nov 2024
Below are the latest tax insights and essential updates to keep you informed and compliant. No Deduction for GIC and SIC Currently, taxpayers may claim income tax deductions for the General Interest Charge (“GIC”) and Shortfall Interest Charge (“SIC”) in the year in which the charges are incurred. GIC is imposed for the late payment […]
2024 EOFY Tax Update
2024 End of Financial Year (EOFY) Tax Update As the end of the financial year approaches, several key tax updates and changes are coming into effect. Here’s a summary of the most important changes and deadlines, along with some key tax planning tips that may benefit you or your Group. Small Business Incentives There […]
Victorian State Budget 2024/25
The 2024/25 Victorian State Budget was handed down on 7 May 2024, with Jacinta Allan’s first Budget as Premier taking a cautious approach. Significantly, there were no new property taxes announced, which is a welcome relief for property owners already battling with the recent changes, such as the increases to land tax and absentee surcharge, […]
