CLICK HERE to read the Acumon Autumn Newsletter 2023 In this issue:WelcomeKey Dates April 2023 Working from home & what you can claim from the ATO from 1 July 2022 onwards End of the FBT year fast approaching Congratulations Phill Hall Recipe of the season Superannuation wars
1. Future earnings for super balances above $3m taxed at 30% from 2025-26 The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%. The concessional tax rate on earnings from superannuation in the accumulation phase will remain at 15% up …
Superannuation: updates, announcements & changes Read More »
The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to use a new ‘fixed rate’ method (67 …
Refreshed ‘Working from Home’ deduction calculations Read More »
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise claims: The problem is blanket claims for the holiday home regardless of …
What will the ATO be asking about your Holiday Home? Read More »
CLICK HERE to read the Acumon Connect Summer 2022 Newsletter In this issue:WelcomeMerry Christmas + 2022 / 2023 Office ClosureKey dates for January 2023Interest RatesCongratulations Callan & AshleighChristmas Budgeting + a delicious Christmas recipe
The value of cryptocurrency assets inside Australian self-managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics. While cryptocurrency is a relatively small asset class at only 0.16% of the $837bn held in SMSFs, it is a growing asset class, larger than collectibles and personal …
The Optus data breach is top of mind for a lot of Australians, particularly those who have had their data breached. For business, the breach is a timely warning on the importance of understanding what data is held on your customers (and should you hold it?), how it is secured, how your systems work and …
CLICK HERE to read the Acumon Connect Spring 2022 Newsletter In this issue:WelcomeOur new websiteLatest articlesMeet the teamSteps to Spring cleaning your finances
National Cabinet agreed to end the mandatory isolation requirements for COVID-19 effective from 14 October 2022. Each state and territory has, or will, implement the end of the isolation rules. The Pandemic Leave Disaster Payment, the payment to workers who have lost income they needed to self isolate or care for someone with COVID-19, also …
In September, amid a climate of startling interest rates, UK Chancellor Kwasi Kwarteng announced a series of tax cuts, including the reduction of the top personal income tax rate that applies to those earning more than £150,000 from 45% to 40%. Just ten days later, following market turmoil that saw the British Pound drop at …
To cut or not to cut? Stage three personal tax cuts Read More »
