NEWS UPDATE
NEWS UPDATE
Startups may be able to claim greater tax concessions than initially announced in the federal budget as the government grapples with blowback to its economic reforms. Treasurer Jim Chalmers is in talks with businesses about allowing startups to keep a John Howard-era 50 per cent…
Some of Australia’s leading health and life sciences organisations are urging Treasurer Jim Chalmers to review the changes to research and development taxes proposed in his budget. Sector advocates say while they’re concerned over a number of Dr Chalmers’ latest tax initiatives, the move to…
Proposed taxes on trusts could limit the amount of money given to charities, but the minister responsible says it’s the least of the sector’s problems. With more than $5 trillion expected to pass down the generations through wills and bequests over the next two decades,…
The government super co-contribution scheme is designed to help eligible low and middle-income earners grow their retirement savings. If you make personal after-tax contributions into your super fund, the government may also contribute an additional amount to your super account, up to a maximum of…
Many people dream of starting their own business, but very few wake up one day with absolute certainty that the time is right. More often, the signs build slowly. A frustration at work. A passion that keeps pulling at you. A skill others keep asking…
Rising interest rates have been blamed for a downturn in housing approvals, but tax changes in the federal budget could lead to an uptick. Figures from the Australian Bureau of Statistics showed the total number of dwellings approved in April fell by 3.4 per cent…
The divide between people who earn income from investments and those who work for a living could be exacerbated by the artificial intelligence revolution, economists at Australia’s largest business lender warn. While the adoption of AI is expected to boost productivity, without policy intervention the…
Contentious changes to taxes on property investments won’t be the main driver of expected falls in prices, the housing minister says. As auction clearance rates hit lows not seen since the COVID-19 pandemic, Clare O’Neil said it was unclear how much the planned changes to…
Start ups and small businesses will be forced to wait longer to find out if they will get special treatment from looming tax changes, as the government looks to enact the measures within weeks. Measures in the federal budget limiting negative gearing to new properties…
From 1 July 2026, Australian employers will face one of the most important superannuation compliance changes in many years. Under the Australian Government’s Payday Super reform, employers will need to pay employee superannuation guarantee contributions in line with their regular pay cycle, rather than treating…
Changes to capital gains taxes should still be broad to ensure one issue with the housing market isn’t replaced by another, Treasurer Jim Chalmers says, despite business groups urging the reforms apply only to property. The federal government will introduce its changes to the taxes…
Investor incentives should be increased, not cut, a senior Liberal says, as Labor moves to rush its once-in-a-generation tax overhaul through parliament. Business leaders have warned the measures, laid out in the federal budget earlier in May, will lead to talent and funding moving offshore…
With the end of financial year approaching, many small business owners are thinking about tax, profit, cash flow and what the next 12 months might look like. But EOFY should not be treated as a last-minute paperwork scramble. It is one of the best opportunities…
All eyes were on the auction market to see the response to negative gearing and capital gains tax changes in the first weekend after the federal budget. The results were mixed. The volume of homes that went to auction across the capital cities fell 11…
States and territories are being urged to slash stamp duty for small businesses and families to help them handle the fallout of a contentious overhaul of tax on investments. The federal government has flagged some GST relief for Australians affected by a new 30 per…
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