NEWS & INSIGHTS
What changed on 1 July 2023?
Employers & business The superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee - the Temporary Skilled Migration Income Threshold - increased to...
Raising money for Breast Cancer Care
Shakespeare Group Director Leigh-Anne Meyerowitz joined Body MBrace on Sunday 7 May sweating through a 1,000-calorie workout (in less than 2 hours!) at their Morley studio. They raised an incredible $67, 114 for Breast Cancer Care WA, which far surpassed their goal of...
Superannuation SMSF updates
Below is a round-up of some superannuation changes and key developments that may be relevant to your SMSF. It is important that you know what changes are coming, so you can effectively understand how they may affect your SMSF. We intend to regularly provide you with...
Managing the cost of living
The Shakespeare Financial Services team have devised a list of practical ideas to help save money during the cost of living crisis. Coles and Woolworths both offer membership programs that offer discounts and other perks. As an example for Woolworths, it costs $70 per...
Superannuation opportunities
Tax deductions for topping up super You can make up to $27,500 in concessional contributions each year assuming your super balance has not reached its limit. If the contributions made by your employer or under a salary sacrifice agreement have not reached this $27,500...
Business tax savings
Bring forward the purchase of assets If there are large assets your business needs to buy (or upgrade), you have until 30 June 2023 to use the temporary full expensing rules. These rules enable businesses with an aggregated turnover of up to $5bn to fully deduct the...
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