Our latest eNewsletter includes information on the following topics:

Claiming the tax-free threshold: getting it right – If you’re an Australian resident for tax purposes, you don’t have to pay income tax on the first $18,200 you earn each year.

Withholding for foreign residents: an ATO focus area – Does your business make payments of interest, dividends or royalties to any foreign residents? You may be required to withhold tax.

Small business restructure roll-over: tax relief for genuine business restructures – A structured path is available for businesses to reorganise operations, allowing them to better meet financial challenges without prejudicing creditors or engaging in unethical practices.

Super guarantee a focus area for ATO business debt collection – The ATO offers a timely reminder for businesses to ensure they’re meeting their SG obligations.

New “bring-forward” contribution thresholds for 2024–2025 – The increased annual cap on non-concessional super contributions is great news for those who want to maximise their retirement savings.