An SMSF must pay a minimum amount each year to a member who is receiving an account-based pension. The minimum amount is calculated by applying the relevant percentage factor based on the member’s age by the member’s pension account balance calculated as of 1 July 2024, or on a pro-rata basis if the pension commenced […]
With the end of the 2024/25 financial year fast approaching, it is again time to consider the rules concerning contributions made to your self-managed funds or other superannuation funds for this year. Following are some guidelines regarding current rules and ATO requirements. […] CONTINUE READING
The FBT exemption for plug-in hybrid electric vehicles (‘PHEVs’) broadly ended on 31 March 2025, so the 2025 FBT year may be the last year that employers can claim the exemption.[…] CONTINUE READING
Pay as you go (‘PAYG’) withholding Taxpayers need to withhold the right amount of tax from payments they make to their employees and other payees, and pay those amounts to the ATO. Single touch payroll (‘STP’) Employers should finalise their STP data by 14 July 2025 for the 2024/25 financial year (there may be a […]
