NEWS & INSIGHTS
Tax on electric cars
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric cars. The FBT exemption for electric cars If your employer provides you with the use of a car that is classified as a...
Budget 2023-24
The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update the next day on the important issues to you, your superannuation and your business. Little has been released to date on the impending Budget beyond the tax on super balances...
The instant asset write-off deadline approaches
As the cut-off date for the instant asset write-off program approaches on June 30, 2023, many businesses are feeling the pressure to take advantage of the program before it ends. During the pandemic, the federal government introduced temporary full expensing that...
Communications from the ATO
In the last few years, you might have noticed some ATO correspondences being sent to your myGov account inbox or being posted to you, instead of being sent to your accountants at Shakespeare Partners. As a business owner, you have a few options regarding communication...
Importance of Loan Reviews
In a market of steadily increasing interest rates, there has never been a more important time to review your current home or investment loan. At the time of taking out the loan for the purchase or refinance of your property, it is true to say that you would have been...
Superannuation above $3 million will increase to 30%
Future earnings for superannuation balances above $3m taxed at 30% from 2025-26 The Government has announced that from 2025-26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%. The concessional...
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