Cashflow Planning Features
The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business.
An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and details released in recent exposure draft by Treasury.
From 1 July 2022, the standard Superannuation Guarantee (SG) rate increased from 10% up to 10.5%. It’s part of the government’s commitment to increase the SG by half a percent each year until 2025, when the SG rate will reach 12%.
Delve into the fiscal changes of 2024 as we explore the impact of rising interest rates on Division 7A loans. Learn how these changes affect bank covenants and discover strategies for tax planning. Explore options like dividends, debt-to-equity conversions, and fund procurement, but remember to consult experts for personalised guidance.
As we commence the third fiscal quarter, it’s a timely reminder to consider your options for the instant asset write-off as there may only be a limited amount of time remaining to claim this deduction.
Wondering why you need to make those 'PAYG Instalment' payments to the Australian Taxation Office (ATO)? We get it. The PAYG Instalment system can be a puzzle, especially if it's your first go-round or you're unsure about the payment amount.