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The Federal Government has proposed, from 1 July 2025, an additional tax of 15% on “earnings” for members who have a total superannuation balance of greater than $3 million. This additional tax will be referred to as “Division 296” tax and will be levied on the member and not the superannuation fund.
Read MoreRBA keeps cash rate at 4.35% amidst decreasing inflation. RBA Governor notes "Taylor Swift inflation" from her tour's impact on consumer spending in Australia. US stocks rebound after initial dip.
Read MoreOn 25 January 2024, the government announced proposed changes to the Individual income tax rates and thresholds from 1 July 2024. These changes are not yet law.
Read MoreFrom today (01 February 2024), Salt Financial Advisers (we, us, our) has commenced our business operations under a new authorisation from Salt Financial Group AFSL Pty Ltd. As such, our previous authorisation under Affinia Financial Advisers (Affinia) has ceased.
Read MoreAs we have passed the midpoint of the financial year, it is good time to reflect on the importance for small businesses of being able to navigate the Australian tax system effectively. Understanding the intricacies of tax laws can save you money, streamline your financial processes, and contribute to the overall success of your business.
Read MoreVictoria's new land tax, effective January 1, 2024, poses significant challenges for SMSFs holding residential properties left vacant for more than six months. However, its implications extend beyond SMSFs to encompass trusts holding similar assets.
Read MoreSuperannuation, often referred to as "super," is a long-term savings plan designed to provide financial support in retirement. It's a cornerstone of financial planning, and optimising your contributions can significantly impact the lifestyle you lead in your golden years.
Read MoreThe past year has been an impressive one for the financial markets, marked by significant resilience and growth. The ASX 200 recorded a notable 7.8% rise, its best since 2021; while the S&P 500 surged by an impressive 25%. This growth was fuelled by strong corporate earnings, reduced inflation rates, and an optimistic outlook on economic recovery.
Read MoreSound financial management is a cornerstone of running a profitable and successful business. As business owners make key decisions based on factors such as cash flow and profitability every day, it is important for businesses to have strong bookkeeping and record-keeping processes in place to ensure that the information they are basing these decisions on, is timely and accurate.
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