Australian Federal Budget 2020-21 Wrap Up
The 2020-21 Federal Budget has been described as the most anticipated in our history defining its post-COVID road to recovery despite the country experiencing its worst economic conditions since World War 2. In this article we sift through the federal budget’s contents and what they mean for our nation’s SMEs. Personal income tax cuts The […]
What will Australia look like 40 years from now?
The 2023 Australian Intergenerational Report provides a 40-year projection of the outlook of the economy and the Government’s budget to 2062–63. The report forecasts structural trends that will give current generations an insight and encouragement about what we need to be doing now to successfully navigate the future. The report links the continued growth and prosperity of […]
Federal Budget 2021/22: What are the wins for SMEs?
Treasurer Josh Frydenberg has delivered a free spending budget designed to drive employment growth, while also allocating increased funding to social programs such as disability services, aged care and mental health, as well as women’s economic security. Included also is the extension of support to taxpayers through the retention of the low and middle-income tax […]
Important dates and updates from 1 July 2022
The new financial year has arrived. Let’s take a quick look at some of the important dates and updates from 1 July 2022. 1 July 2022 Changes to Superannuation The Superannuation Guarantee rate is increasing to 10.5%. This rate applies for any payments that fall on or after 1 July, even if it was earnt […]
Changes to tax, incentives and rules from 1 January 2021
Many of us will be happy to put 2020 behind us and embrace a fresh new year. Along with New Year’s resolutions comes a raft of new rules, regulations, taxes and some benefits you need to know about. Here are all the changes coming in 2021. JOBKEEPER TO BE AXED JobKeeper, the economic stimulus to […]
Tax changes and updates from 1 July 2021
The new financial year has arrived and so has several updates to the tax system and new policies impacting superannuation, healthcare, wages and tax rates. Here’s what you need to know post 1 July 2021. Superannuation payments to increase Working Australians will receive a 0.5% boost to their superannuation fund. Legislation requires superannuation contributions to […]