Key points Explains the tax design under previous legislation and how the new tax may operate Discusses the current status and timing of legislation for the new tax Outlines the controversial design features of the new tax What was the proposed $3m super balance tax? The proposal was for a 15% tax on earnings for superannuation account […]
As we approach the end of the financial year, and it’s time to get your year-end tax planning sorted. We’re here to help you get everything in order. Watch our Pitcher Partners’ year-end tax planning webinar, where Tax Advisory Partner Daniel Burt, will guide you through all the essential aspects of income tax planning. During […]
As the end of the financial year approaches, it is time to start thinking about whether your year-end tax planning is in order. Tax planning requires not only a consideration of income and deductions for the year but also looking forward to opportunities ahead of 1 July. In this article we identify the key tax […]
Key points While still subject to legislative passage it is looking increasingly likely that the Government still intends to introduce the new tax. It will mean that income, such as interest, derived on super balances above $3m will be taxed at broadly 30% (15% fund tax rate and 15% new tax rate) Individuals with large […]
The temporary expansion of the off-the-plan duty concession, initially designed to cease from 21 October 2025, is to extend for another 12 months. What is changing? The off-the-plan duty concession was expanded last year for property contracts entered into between 21 October 2024 and 20 October 2025. The expansion was originally designed to last for 12 months, and […]
In her first term as Victorian Treasurer, Jaclyn Symes has handed down a Budget which provides targeted cost of living relief, but fails to address the increasing costs of doing business in Victoria or provide any relief from the significant tax burden that is now borne by residents – particularly property owners, investors and developers. […]
This article was updated on 20 May, 2025. As we await the outcome of the ATO’s application for special leave to appeal to the High Court in Bendel, some taxpayers may have taken the position of putting their unpaid present entitlements (“UPEs”) on complying loan terms without explicitly converting them to a loan. An article […]
Key points Review your business structure and tax planning strategies before 30 June to maximise deductions and minimise liabilities. Consider bringing forward expenses and deferring income to manage taxable income effectively. Ensure superannuation contributions and trust resolutions are completed on time to meet compliance requirements. As the end of the 2025 financial year approaches, it’s […]
Key points ATO interest charges (GIC and SIC) won’t be tax-deductible from 1 July 2025. Charges assessed before that date may still be deductible. Businesses should act early to avoid non-deductible interest. Starting 1 July 2025, significant changes will be implemented regarding the deductibility of the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) […]
As the financial year draws to a close, it’s a smart opportunity to maximise your super contributions. Private Wealth Partner Jordan Kennedy sits down with Family Advisory Partner Louise Meijer to discuss how to leverage superannuation caps to your benefit while going in-depth into the constraints to consider. If you never understood the particulars of superannuation, this is […]
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