Our Insights
General transfer balance cap to be indexed on 1 July
Indexation of the general transfer balance cap (‘TBC’) will occur on 1 July 2025.
Hope remains for $3M super tax changes
The SMSF Association remains hopeful that proposed legislation introducing a 30% tax on superannuation balances above $3 million (Division 296) may still be amended.
ATO’s fervent focus on small business
The Tax Office has announced its major areas of interest regarding small businesses, highlighting a tougher stance on compliance and GST fraud.
Increase to rate for working from home running expenses
Prefer claiming actual Working From Home expenses? You still can – just keep detailed records to back up your claim.
Understanding early access to super
Early Super Access: Know the Rules, Avoid the Risks. We explain why accessing your super early can come with serious consequences.
2025 superannuation housekeeping
Reminder for SMSFs to stay on top of super housekeeping: TBARs for the March quarter are due 28 April, and the general transfer balance cap increase from 1 July.
Division 296 Super Tax in Limbo as Federal Election Called
The future of the government’s contentious Division 296 tax has been thrown into uncertainty after Prime Minister Anthony Albanese called a federal election for 3 May 2025, before the legislation could be voted on in the Senate.
FBT record keeping and plug-in hybrid exemption changes
With the 2025 fringe benefits tax (‘FBT’) year having just ended (on 31 March), the ATO is reminding employers of some changes that might impact their FBT obligations.
Tribunal Decisions uphold ATO stance on GST and UPEs
The AAT rejected a taxpayer’s late input tax credit claim, while the Full Federal Court upheld a decision that unpaid present entitlements (UPEs) are not considered loans for Division 7A purposes.
2025-26 Federal Budget Summary
The 2025–26 Federal Budget outlines personal tax cuts, student debt relief and housing measures with minimal changes for small businesses and super, many of which remain uncertain pending the outcome of the upcoming federal election.
Not-for-profit self-review return due March
As the Not-for-profit self-review tax return is due in March, the ATO has published their Q&As ‘busting’ various NFP ‘myths’.
How to master your employer obligations in 2025
Taxpayers who employ staff should remember these important dates and obligations in 2025.
