News

Our Guide to the Federal Budget 2025-26

On Tuesday 25 March, Treasurer Jim Chalmers handed down the Federal Budget for 2025–26 Budget, one that the government clearly did not expect to have to deliver. To read our full informative guide, please click the link below.

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Why the ATO is targeting babyboomer wealth

“Succession planning, and the tax risks associated with it, is our number one focus in 2025. In recent years we’ve observed an increase in reorganisations that appear to be connected to succession planning.” ATO Private Wealth Deputy Commissioner Louise Clarke

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Will credit card surcharges be banned?

 If credit card surcharges are banned in other countries, why not Australia?  We look at the surcharge debate and the payment system complexity that has brought us to this point.

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Is there a problem paying your super when you die?

The Government has announced its intention to introduce mandatory standards for large superannuation funds to, amongst other things, deliver timely and compassionate handling of death benefits. Do we have a problem with paying out super when a member dies?

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Threshold for tax-free retirement super increases

The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025.

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Quote of the month

“To the man who only has a hammer, everything he encounters begins to look like a nail.” US psychologist Abraham Maslow

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Tax deduction denied for signature basketball shoe R&D

The Federal Court has denied a sports company’s appeal to claim research & development incentives for the creation of an Australian signature basketball shoe.

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Season’s Greetings

Wishing you a safe, healthy and happy holiday season. Our office will be closed from Monday 23 December 2024 and will reopen on Monday 6 January 2025.

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Tax and tinsel Q&As

Can you avoid giving the Australian Tax Office a gift this Christmas?

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Phasing out cheques

The Government has announced a transition plan to phase out the use of cheques. Under the plan, cheques will stop being issued by 30 June 2028 and stop being accepted on 30 September 2029.

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What’s ahead in 2025?

The last few years have been a rollercoaster ride of instability. 2025 holds hope, but not a guarantee, of greater stability and certainty. We explore some of the key changes and challenges.

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Quote of the month

“If you haven't got any charity in your heart, you have the worst kind of heart trouble.” Bob Hope, Comedian    

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