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Navigating the Tax Landscape: Key Changes for Australians in 2023/24
Navigating Tax Landscape: Key Changes for Australians in 2023/24At Plus 1 Group, a leading accounting firm in Shepparton, Victoria, we understand navigating tax changes can be complex. Here's a breakdown of key tax changes for Australians in the 2023/24 financial year...
Stage 3 tax cuts
Learn about the Stage 3 tax cuts effective from July 1, 2024, in Australia: Discover how the new tax rates and brackets will impact your income and tax payments.
New indexed superannuation contribution caps from 1st July 2024
Starting in 2024, all employees in Australia can sue employers for not meeting the 11% superannuation guarantee. This update extends rights, introducing penalties for non-compliance but includes exemptions for high-income earners. Understand the critical changes affecting employers and employees.
The case for a growing income stream
Exploring the importance of a growing income stream in investment portfolios, focusing on dividends, rental income, and the essential growth of assets for financial stability.
Practice Update March 2024
March edition of the Practice Update relating to ATO news and updates. Make sure you’re informed of any news that might affect you.
Superannuation March Quarter – Ensure you pay before Apr 28th
Your employee’s super contribution is only considered ‘paid’ on the date it’s received by the super fund. Significant penalties will apply for late payments.
Latest Fuel Tax Credit Rates for Businesses: July 2023 – June 2024 Update
Unlock smarter investment strategies in 2024 with insights on franking credits, fee impacts, tax advantages, and retirement planning to enhance your financial returns. Explore how subtle shifts can significantly influence your investment’s growth.
Investment returns – some other considerations
Unlock smarter investment strategies in 2024 with insights on franking credits, fee impacts, tax advantages, and retirement planning to enhance your financial returns. Explore how subtle shifts can significantly influence your investment’s growth.
Victorian company and its director issued $264,352 total penalty for engaging unlicensed labour hire providers
The Victorian Government imposes a $264,352 fine on a company and its director for engaging unlicensed labor hire, underscoring strict enforcement of licensing laws in 2024. The case reflects ongoing efforts to combat exploitation in the labor market, emphasizing the legal necessity for businesses to verify labor hire licenses.
When is an employer exempt from making superannuation contributions?
Starting in 2024, all employees in Australia can sue employers for not meeting the 11% superannuation guarantee. This update extends rights, introducing penalties for non-compliance but includes exemptions for high-income earners. Understand the critical changes affecting employers and employees.
Practice Update January/February 2024
January/February edition of the Practice Update relating to ATO news and updates. Make sure you’re informed of any news that might affect you.
Grants Update – On Farm Connectivity Program
This program aims to assist primary producers to take advantage of digital agribusiness solutions to boost productivity and improve safety. It forms part of the $656 million Better Connectivity Plan which is improving mobile and broadband connectivity and resilience in communities across the country.
It’s a New Year, Start 2024 with a Financial Plan & Start Growing Your Wealth
From fluctuating fuel prices to managing cash flow and planning for retirement, Plus 1 Group has helped countless truckies, couriers, and logistics professionals take control of their finances and drive towards a secure future.
Key Insights into Australian Financial Planning for 2023
Discover essential facts and figures in Australian financial planning for 2023. Learn about Centrelink Age Pension, superannuation benefits, investment opportunities, and more to make informed financial decisions.
Grants Update – NSW Farmer Drought Ready and Resilient Fund
Discover the NSW Government’s new $250 million Drought Ready and Resilient Fund, offering low-interest loans to support NSW farmers in enhancing drought resilience. Learn about eligible activities, loan details, and the refocused Farm Innovation Fund now known as the Drought Infrastructure Fund.
Practice Update December 2023
December edition of the Practice Update relating to ATO news and updates. Make sure you’re informed of any news that might affect you.
Understanding New Employment Regulations: Fixed Term Contracts and Wage Theft
Explore the latest changes in employment laws effective from December 2023, focusing on new rules for fixed term contracts and the criminalization of wage underpayment in Victoria. Learn about entitlement definitions, examples of wage theft, and compliance tips for employers.
Australian Government Proposes New Tax on High-Value Super Balances
Explore the latest update on Australian superannuation: the government’s draft legislation proposing a 30% tax rate on super balances exceeding $3 million, effective from 1 July 2025. Stay informed on how this change affects SMSF clients.
How the Trusted Accountants from Plus 1 Group in Shepparton – Can Assist You With Your Self-Managed Super Fund
In the complex world of self-managed super funds (SMSF), ensuring the success of your super – demands expertise and experience.
Prepare for surge in GST audits, ATO warns tax agents
The ATO intensifies GST audits to address a collection discrepancy. This article outlines the audit selection criteria, best practices for bookkeepers, and the importance of accurate record-keeping. Stay informed and compliant.
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