by Financially Sorted | Mar 17, 2025 | Superannuation
The Government has announced its intention to introduce mandatory standards for large superannuation funds to, amongst other things, deliver timely and compassionate handling of death benefits. When you die, your super does not automatically form part of your estate...
by Financially Sorted | Mar 17, 2025 | ATO, Small Business, Tax & Accounting
The ATO has announced that from 1 April 2025, it will be moving around 3,500 small businesses with a history of non-payment, late or non-lodgement, or incorrect reporting from quarterly to monthly GST reporting to improve their compliance. The ATO believe that moving...
by Financially Sorted | Mar 17, 2025 | Business, Small Business
Individuals looking to establish a business must understand the sacrifices and challenges that can accompany it. Establishing a small business can come with multiple hurdles and considerations that often go ignored by new owners, eventually leading the business to...
by Financially Sorted | Mar 3, 2025 | Interest Rates
On 18 February 2025, the Reserve Bank of Australia (RBA) announced a reduction in the cash rate, bringing it down to 4.10% from 4.35%. This is a significant moment for the Australian economy, as it is the first rate cut in over four years. The decision reflects...
by Financially Sorted | Mar 3, 2025 | ATO, Tax & Accounting, Tax Returns
The Senate Economics Legislation Committee has recommended that a bill containing amendments to deny income tax deductions for general interest charge (GIC) and shortfall interest charge (SIC) amounts, incurred by taxpayers, be passed by Parliament. In its report, the...
