by Financially Sorted | May 8, 2025 | SMSF, Superannuation
Employers Be Aware – SG Contribution Levels Are Rising The minimum SG rate you must pay for each eligible employee from 1 July 2024 was 11.50% of their ordinary time earnings (OTE). This is legislated to increase to 12% on 1 July 2025. History of the SGC...
by Financially Sorted | Apr 24, 2025 | Business, Land Tax, Small Business, Tax & Accounting
More than 400,000 Victorians who run a small business or an Airbnb from the family home have been hit with hefty land tax bills for the first time as State Government changes, designed to rein in debt, kick in. The family home has always been exempted from land tax so...
by Financially Sorted | Apr 23, 2025 | Business, Small Business, Superannuation
Draft legislation that will require super to be paid at the same time as wages has now been released for consultation. According to the Government, the legislation for payday super will aim to substantially reduce the billions of dollars in unpaid superannuation every...
by Financially Sorted | Apr 23, 2025 | ATO, Federal Budget, Tax & Accounting, Tax Returns
Any form of tax cut is always a welcome addition, and the personal tax cuts announced in the Federal Budget have now been passed. Although still some 14 months away, from 1 July 2026, personal income tax rates will change. On the last sitting day of Parliament before...
by Financially Sorted | Apr 22, 2025 | ATO, Government Legislation, Land Tax, Small Business
This information relates to the State Revenue Office Ruling Principal Place of Residence Exemption – Substantial Business Activity Land Tax Act 2005Revenue Ruling LTA.001 (version 2) History The principal place of residence (PPR) exemption provided by section 54(1)(a)...
