Resources

The Supplement serves as a handy reference guide to key rates and thresholds relevant to the 2025 income year. It covers important information such as: Income tax rates for individuals, companies, trusts, and superannuation funds Medicare levy low-income thresholds Personal tax offset amounts Superannuation contribution limits FBT rates and thresholds for the 2025 and 2026…

The small business energy incentive aims to assist businesses in enhancing energy efficiency and reducing energy costs. Eligible businesses with an annual turnover of less than $50 million can benefit from a 20% bonus tax deduction on the cost of qualifying assets and improvements that promote more efficient energy use. This incentive covers eligible expenditures…

In recent years, both the Coalition and Labor governments have introduced income tax cuts that have been implemented in phases since 2018. Among these changes are the stage 3 tax cuts, which take effect from July 2024. These changes became law after passing through both houses of parliament on February 27, 2024. Starting from July…

The Australian Taxation Office (ATO) introduced new rules for claiming deductions for costs incurred while working from home on February 16, 2023. These rules are applicable from July 1, 2022 and are summarised below: Fixed Rate Method The revised fixed rate method, applicable from July 1, 2022 onwards, involves a fixed rate of $0.67 cents…