Our latest eNewsletter includes information on the following topics:

• HECS/HELP debt reduction Bill introduced – The government has now introduced legislation aimed at enacting its election promise to reduce student debt by 20%.
• Small and medium businesses now have more time to get tax returns right – For 2024–2025 and later income years, businesses with an annual aggregated turnover of less than $50 million have up to four years to request amendments.
• ATO interest charges no longer tax-deductible for businesses – Any GIC or SIC incurred from 1 July 2025 cannot be claimed as a tax deduction, regardless of when the underlying tax debt arose.
• Protect your super from pushy sales tactics: consider the risks and don’t rush to switch – At this time of year, you’re more likely to be targeted by high-pressure campaigns to get you to switch super funds or make investments that may be unsuitable for you.
• Will your super be affected when the $3 million balance tax hits? – Before the new policy’s set in stone, if you think you may be affected it would be wise to seek advice.