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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. Each year, advisers await the December inflation statistics to the be released. The reason is simple, the transfer balance cap – the amount that can be transferred to a tax-free retirement account – is indexed to the Consumer Price
How to master employer obligations in 2025
Taxpayers who employ staff should remember the following important dates and obligations: Fringe benefits tax (‘FBT’) 31 March 2025 marks the end of the 2024/25 FBT year. Employers should remember the following regarding their FBT tax time obligations. They should identify if they have provided a fringe benefit. If they have, they should determine the taxable value to work out
December Newsletter – Merry Christmas Everyone
We would like to take this opportunity to wish all our wonderful clients a very Merry Christmas. Thank you for your continued support throughout 2024, we can’t wait to start 2025 with you. Our office will will closing for the Christmas break on Thursday 19 December 2024. Most of our staff will be reopening the office in the New Year