Blog

Practice Update – February 2024

Super contribution caps to rise The big news story for those contributing to super is that the contribution caps are set to increase from the 2025 income year. The concessional contribution cap will increase from $27,500 to $30,000. This ‘CC’ cap is broadly applicable to employer super guarantee contributions, personal deductible contributions and salary sacrificed … Read more

Practice Update – October 2023

Taxpayers need to get their ‘rental right’ The ATO reminds rental property owners and their tax agents to take care when lodging their tax returns this tax time. When preparing their tax returns, taxpayers should make sure all rental income is included, including income from short-term rental arrangements, renting part of a home, and other … Read more

Practice Update – August 2023

Claiming GST credits for employee expense reimbursements Employers may be entitled to claim GST input tax credits for payments they have made to reimburse employees for expenses that are directly related to their business activities. A ‘reimbursement’ is provided when a taxpayer pays their employee the amount, or part of the amount, of a particular … Read more

Practice Update – July 2023

Court penalises AMP $24 million for charging deceased customers The Federal Court has found that four companies that are or were part of the AMP Group breached the law when charging life insurance premiums and advice fees from the superannuation accounts of more than 2,000 deceased customers. The Federal Court ordered two of these AMP … Read more

Practice Update – June 2023

2023/24 Budget Update On 9 May 2023, Treasurer Jim Chalmers handed down the 2023/24 Federal Budget. Some of the measures announced by the Government (including some which were actually announced prior to the Budget), include: from 1 July 2026, employers will be required to pay their employees’ superannuation at the same time as their salary … Read more