Why is my tax refund so small?

Why is my tax refund so small?

The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate income tax, with...
Important: 1 July 2023 Wage Increases

Important: 1 July 2023 Wage Increases

For employers, incorrectly calculating wages is not portrayed as a mistake, it’s “wage theft.” Beyond the reputational issues of getting it wrong, the Fair Work Commission backs it up with fines of $9,390 per breach for a corporation. In 2021-22 alone, the Fair Work...
What Changed on 1 July 2023

What Changed on 1 July 2023

Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold – increased...
Backing a Winner: Digital Games Tax Break

Backing a Winner: Digital Games Tax Break

The digital games and interactive entertainment sector is the largest creative sector in the world and one of the fastest growing industries worldwide. The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021...
The 120% Technology and Skills ‘Boost’ Deduction

The 120% Technology and Skills ‘Boost’ Deduction

The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions. Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for expenditure...
2023-24 Budget Guide ‘Ace in the Hole’

2023-24 Budget Guide ‘Ace in the Hole’

Disclaimer The information contained herein is provided on the understanding that it neither represents nor is intended to be advice or that the authors or distributor is engaged in rendering legal or professional advice. Whilst every care has been taken in its...