There has been a lot of media coverage of late regarding the changes to the tax cuts that were to take effect from 1st July 2024 and some media reports have given the impression that high income earners are worse off.
Blog / Year: 2024
Changes to Australian Business Number’s (ABNs)
Over the last 12 months many Sole Trader ABNs have been cancelled without prior notice. Generally, this is because the ABN holder hasn’t included business income in their Individual Tax Return for a few years.
The importance of having and or updating your Binding Death Benefit Nomination with your Superannuation Fund
Did you know that your Superannuation doesn’t automatically form part of your estate when you die? It is important to nominate who you want to receive your Superannuation; this is generally your spouse or children, but not always.