April News

Super contribution caps to rise A key update for those contributing to super: The contribution caps for super contributions will increase starting 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 contributions. The [...]

February News

ATO NEWS Government announces changes to proposed 'Stage 3' tax cuts The Federal Government has announced tweaks to the 'Stage 3' tax cuts that will apply from 1 July 2024. The proposed changes are: reduce the 19% tax rate to 16%; reduce the 32.5% tax rate to 30% for incomes between $45,000 and a new [...]

Christmas parties & gifts: FBT & Tax implications

Many employers will be planning to reward employees with a celebratory party or event this December/January.  However, there are important issues to consider, including the possible FBT and income tax implications of providing 'entertainment' (including Christmas parties) to employees and clients. FBT and 'entertainment' Under the FBT Act, employers must choose how they calculate their [...]

December News

ATO's lodgment penalty amnesty is about to end The ATO is remitting failure to lodge penalties for eligible small businesses.  Businesses that have not yet taken advantage of the ATO's lodgment penalty amnesty only have until 31 December 2023 to do so. Businesses must meet the following criteria to be eligible for the amnesty: had [...]

Position Vacant – Admin Assistant

Client Services Full Time 37.5 hrs/week (Mon – Fri) Hales Douglass Financial Services is a growing financial advice firm with it’s own licence (non-bank aligned) and self-managed super fund ‘specialist’ accreditation. Our key services include superannuation & investments, retirement planning, wealth creation, life insurances, aged care advice and estate planning. We require an all-round, [...]

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