KEEPING YOUR FINGER
ON THE PULSE
Shifting revenue-raising from the states to the federal government in the wake of Queensland’s misstep on land tax.
Stage 3 tax cuts have been confirmed in the federal budget. From 1 July 2024 there are scheduled to only be three personal income tax rates – 19%, 30% and 45%.
To be compliant, your SMSF assets must be acquired for the sole purpose of providing retirement benefits to members, or to their dependents if a member dies before retirement.
The 2022-23 Budget proposed a 120% tax deduction for SME expenditure on technology, or skills and training for staff. This has now been adopted by the current Government.
There are two key components at play in the sale of a business: structuring the transaction and positioning. Both are important and can significantly impact your result.
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