The Commission has announced a 4.75% increase to minimum wages, provided that: the lowest rate in any award that applies to ongoing employment must be at least $1004.90 per week or $26.44 per hour any entry-level rate that applies to the first 6 months (or less) of employment must be at least $978.10 per week…
Continue Reading Payday Super & Minimum wages increase 4.75% from 1 July 2026→
🧾 General Tax Strategies 1. Stage 3 Tax Cuts These are already legislated and apply from 1 July 2024. They reduce the marginal tax rate for many Australians, especially those earning between $45,000 and $135,000. Why it matters: You may pay less tax automatically, but it also affects how you plan deductions and income timing. 2. Work-from-Home Deductions…
ATO focus on family trusts – Manage your Risk The ATO has embarked on a compliance program with renewed focus on administering these rules in Section 100A of the Tax Act. Particular focus is appointing trust income to adult children. • Section 100A requires a reimbursement agreement to exist at, or prior to, the time…
Continue Reading Being aware of what’s been legislated over the last year→
I can’t stress the importance of keeping digital records to support your claims. If you cant seem to organise your expenses, use the myDeductions tool in the ATO app to keep a record of your expenses throughout the year. Key changes this tax time, what you can do to prepare, things to consider before lodging,…
Director ID is a new requirement for all directors. All acting directors, alternate directors, and appointed directors of Australian corporations and registered foreign corporations, managed investment schemes and registered charities under the Corporations Act 2001 (Cth) must apply for their director IDs. This includes a director of a corporate trustee of a SMSF. The director…
Continue Reading Preparing for Your Director Identification Number→
There is a lot to do and keep track of at every stage of your fund. Use these checklists to help you manage your fund and meet your SMSF obligations. SMSF Checklist For other SMSF considerations and obligations click here.
