Australia's economy grew by 0.2%, lowest since 2000. RBA's rate hikes are showing effects. ASX sectors vary, with IT leading. US markets continue record highs, with stable earnings growth and inflation moderation.
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Woolworths' record profits coincide with dissatisfaction. ASX200 flat, banks grow. Nvidia boosts tech market. Taylor Swift visit boosts local economy. S&P500 pulls back amid inflation concerns.
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Life is unpredictable, and unfortunately, unexpected events like illnesses, injuries, or mental health challenges can disrupt our lives. In such times, having insurance coverage can provide a crucial safety net, offering financial support when it's needed most.
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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.
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RBA 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.
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On 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.
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From 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.
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As 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.
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Victoria'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.
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