As we look ahead to 2024-25, the business environment is likely to be shaped by several key factors, from tax changes to economic forecasts. Here’s what you need to know to stay ahead: Personal Tax and Superannuation Changes Tax Cuts: From 1 July 2024, personal income tax cuts came into effect, impacting individual take-home pay. … Read more
This article covers the 2023-24 financial year. The instant asset write-off threshold and the eligibility rules are set year by year and have changed since. Before you rely on any figure below, check the current position on the ATO’s instant asset write-off page, or ask us what applies to your business this year. The Instant … Read more
With the rise of remote work, many individuals are looking to claim home office deductions on their tax returns. The ATO has provided clarity on how to approach these claims, focusing on two primary methods: the Revised Fixed Rate Method and the Actual Cost Method. Here’s what you need to know. Understanding the Revised Fixed … Read more
