by Financially Sorted | Apr 1, 2025 | ATO, Business, Government Legislation, Superannuation, Tax & Accounting
With a federal election set for 3 May 2025, there are many issues we all need to consider including interest rates, cost of living, immigration numbers and the future direction of the country. Two other key issues to be aware of are the controversial removal of GIC...
by Financially Sorted | Mar 26, 2025 | Federal Budget
2025-26 Labor Federal Budget Highlights On Tuesday evening 25 March 2025 Treasurer Jim Chalmers handed down the Federal Budget for 2025-26. A Budget deficit of $27.6bn is forecast in 2024-25, followed by deficits of $42.1bn in 2025-26, $35.7bn deficit for 2026-27 and...
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...