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Budget 2024 – Wrap Up Video

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Budget 2024 live wrap-up and what to do before June 30!

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$20k Small Business Energy Incentive

In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000. The Small Business Energy Incentive encourages small and medium businesses with…
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Super to be paid per paycheck and pursuable if owed

As announced in the 2023 May Budget, from 1 July 2026, employers will be required to pay their employees’ super guarantee entitlements on the same day that they pay salary and wages. Currently, super guarantee is paid quarterly. The Government…
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Instant Asset Write Offs (IAWO) capped to $20k again

From 1 July 2023 until 30 June 2024, the Government will change the instant asset write-off threshold to $20,000. Previously, 'small' businesses under a turnover of $500 million, could immediately deduct assets acquired from 6 October 2020…
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Slower asset write offs, some tweaks & changes to tax, and more money for ATO compliance!

Last year we had a double deal of government budgets, and without even coming full circle yet, it's time for this year's budget. https://vimeo.com/825343630   Businesses have limitations and compliance warnings to be aware of,…
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Why your tax return will be $1500 worse this year

For the past couple of years, you may have gotten used to your tax either costing less than you remember, or your refund being more generous. More money for you to spend on necessities, or an extra treat for the holidays. But that won't…
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FBT in 2023

2024 update: since these electric vehicle concessions were released, the ATO's been catching out business reporting incorrectly and hybrid electric vehicles have different rules. Head to our 2024 article for all the details. Fringe benefits…
october federal budget

2022 Budget wrap-up (October)

Thanks for all those who attended our webinar summarising the budget. A recording is now available below:     For some more details read below: There is nothing in this Budget that would create a UK style crisis.…
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To cut or not to cut? Stage three personal tax cuts

In September, amid a climate of startling interest rates, UK Chancellor Kwasi Kwarteng announced a series of tax cuts, including the reduction of the top personal income tax rate that applies to those earning more than £150,000 from 45%…
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What to expect from the new Government

Anthony Albanese has been sworn in as Australia’s 31st Prime Minister and a Government formed. We look at what we know so far about the policies of the new Government in an environment with plenty of problems and no easy fixes. The economy The…

Budget wrap-up 2022

  We know that the news can't stop talking about both the fuel excise reduction, and a $250 payment – and with the price of fuel at the moment it's no wonder.This budget is designed to help short term cost of living pressures (and…

Federal Budget 2021-22

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and…
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2020 Budget wrap-up

This years budget is all about jobs In what has been billed as one of the most important budgets since the Great Depression, and the first since the onset of the COVID-19 pandemic dragged Australia into its first recession in almost 30 years,…
Optimised budget wrap-up 2019
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2019 Budget wrap-up

How will the 2019 Federal Budget effect me and my business? Treasurer Josh Frydenberg's main talking point was that this budget will bring us back to surplus. Back in black, back on track. Here are the most important bits: Small/medium…
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Budget wrap-up 2018

Tuesday night Scott Morrisson handed down what can be best described as an pre-election Budget and in our opinion a very tax centric budget. No major announcements of increases or decreases in service spend and It is still expected that…
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2017 Budget wrap-up

We have put together a summary of the key tax and financial changes that were announced in last night’s federal budget. This was Scott Morrison's 2nd budget and is focused on increased transport infrastructure spending which will support…
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Your 2 minute guide to the tax and super changes that affect you and your business.

Below is a summary of the key tax and superannuation changes that were announced in this years federal budget. There are some wins for business – aimed to stimulate ‘Jobs & Growth’ which was this year's slogan. There are plenty…