FEDERAL BUDGET NEWSLETTER
Personal tax rates unchanged for 2023–2024
In the Budget, the Government did not announce any personal tax rates changes. The Stage 3 tax changes commence from 1 July 2024, as previously legislated...
Small business instant asset write-off: $20,000 threshold for 2023–2024
The Government will temporarily increase the instant asset write-off threshold to $20,000 from 1 July 2023 to 30 June 2024...
TAX COMPLIANCE AND INTEGRITY
Small business lodgment penalty amnesty
The Government announced that a lodgment penalty amnesty program will be provided for small businesses with aggregate turnover of less than $10 million...
Super to be paid on payday from 1 July 2026; more action to catch non-payers
The Budget papers confirmed the Government’s intention to require all employers to pay their employees’ super guarantee amounts at...