As 30 June fast approaches, the focus usually shifts towards ensuring strategies relating to managing taxation outcomes and superannuation are implemented before the end of financial year arrives. However, it is also important to look ahead, with some superannuation contribution rules changing from 1 July 2022. These changes could create new opportunities which may benefit … Continued
Following is a recap of the announcements delivered by Treasurer, Josh Frydenberg, in the 2022-23 Federal Budget on Tuesday 29 March 2022. Updates include personal tax changes, changes affecting business taxpayers, and changes to superannuation. 1. Personal tax changes 1.1 Increase to low and middle income tax offset (‘LMITO’) The Government has announced a once-off $420 ‘cost … Continued
Are you approaching retirement? Chances are the funding of your lifestyle in retirement may be on your mind. It’s important to take steps now to avoid getting caught short on retirement income and live the retirement lifestyle you want. The qualifying age is increasing by six months every two years until it reaches 67 in … Continued