Federal Budget March 2025
PERSONAL TAXATION Personal tax rates cut from 1 July 2026 and 2027 The Government has proposed to cut the personal income tax rate for the income threshold ($18,200 to $45,000) from 16% to 15% (from 1 July 2026) and 14% (from 1 July 2027). Under the proposed changes,...
Claiming tax deductions for vacant land
Hoping to claim tax deductions on your vacant land? You need to meet a number of strict conditions to claim for costs such as interest payments on relevant loans, land taxes, council rates and maintenance costs. So, what is vacant land? To satisfy the ATO, there are...
How tax works in Australia’s superannuation system
Australia’s super system plays a vital role in ensuring financial security for individuals in retirement. However, how superannuation is taxed can appear complex. In Australia, superannuation is taxed at three main points: contributions, investment earnings and...
Recovering from a natural disaster: What you need to know about tax
As Australia experiences another summer of unpredictable weather patterns, it’s essential to be prepared for the unexpected – natural disasters like fires, floods, earthquakes and cyclones can turn your world upside down. While you’re focused on rebuilding and...