An important reminder: Interest incurred in income years starting on or after 1 July will no longer be deductible, regardless of whether the debt relates to an earlier income year. However, interest charged by the ATO that was incurred … Read Full Story
Starting 1 July 2025, Age Pension means test thresholds will increase, potentially boosting eligibility and payments for retirees. These changes, announced by the Department of Social Services, aim to keep pace with inflation and living costs. Here’s a quick … Read Full Story
From 1 July 2025, your superannuation guarantee (SG) rate is increasing to 12%. That means more money going into your super from your employer, helping you build a better nest egg for retirement. But what happens if you earn … Read Full Story
A recent Administrative Review Tribunal (ART) decision on working from home costs during the 2020-21 COVID lockdowns (Hall’s case) may widen the scope for claiming additional deductions for occupancy costs such as rent, mortgage interest, home insurances and rates, … Read Full Story
📅 30 June 2025 – Tax & Super Checklist As we approach the end of the financial year, now is the perfect time to get on top of your tax and super. A little planning can go a long … Read Full Story
Here is your content, formatted for clarity and flow while keeping all original wording intact: The CGT exemption for land adjacent to a home The rules surrounding the circumstances in which a home will be fully exempt from capital … Read Full Story
Proposed Division 296 tax: Key issues and implications The proposed Division 296 tax, which is proposed to start on 1 July 2025, introduces an extra 15% tax on superannuation earnings above a $3 million super threshold. Everyone supports a … Read Full Story
Here is your content formatted only (no words or characters have been changed): Get on the front foot for your 2024-25 tax return Here are some more detailed tips relating to a couple of common claims that often attract … Read Full Story
So, you have decided to knock down your home and to build a couple of townhouses instead – and maybe live in one (but will just wait and see how things pan out). Likewise, you may have decided to … Read Full Story
When it comes to superannuation, many people assume that their retirement savings will go to their loved ones when they pass away. Sadly, this isn’t always the case. Unlike other assets that are covered by your will, your superannuation … Read Full Story
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