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Final Division 296 Legislation Means it’s Time to Act Sooner than Later
When the Government reworked Division 296 in late 2025, many of the most concerning features of the original proposal were softened. Unrealised gains were removed, thresholds were tiered, and the start date was pushed back to 1 July 2026. At the time, it appeared...
Money Loves Water
Holiday reflection by Peter Locandro, CEO, Financially Sorted Over Christmas, I was lucky enough to visit my son in the USA continuing to follow and support his basketball journey. Over the years, I have met so many different people from many different countries and...
Tax Debts and Overseas Travel: ATO Warning
For most taxpayers, overseas travel isn’t something they ever need to think twice about. However, if a person or business has a significant unpaid tax debt, it’s important to understand how this can affect travel plans. The Australian Taxation Office (ATO) has...
ATO recoups over $1bn in unpaid super
The ATO has revealed that almost $1.1 billion in unpaid super has been returned to nearly one million Australians across the 2024-25 financial year. In the same financial year, $209 million were raised in penalties. Paying correct super entitlements on time is no...
Super Tax Shake-Up: Big Balances Beware
If your super balance is comfortably below $3 million, you can probably relax — the proposed changes to the super rules shouldn’t adversely affect you (yet). But if your super is nudging that level, or if you’re clearly over, the Treasurer’s latest announcement could...
Cash is Making a Comeback – Is Your Business Ready to Take It?
For years, businesses have been moving away from cash – and for good reason. Digital payments are quick, traceable and cut down on the risk of theft or counting errors. But that tap-and-go world might soon have to make room for notes and coins again. The Government...
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