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)...
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...
