Upcoming changes to Superannuation
The following changes to Superannuation will be implemented from 1 July 2022. Increase in Superannuation Guarantee Employers are required by law to pay the superannuation guarantee (SG) contribution. This will increase 10.5% of an employee’s regular earnings, an increase of 0.5% from 10% in the current financial year. SG contribution will continue to increase by […]
Year End Tax Planning – Business and Individuals
Small Businesses Temporary full expensing of assets purchased Until 30 June 2023, temporary full expensing allows deductions for: Business portion of the cost of new eligible assets and improvement on eligible assets for business with an aggregated turnover under $5 billion. Business portion of the cost of eligible second hand assets for business with an […]
