Individual News – September 2024

TaxWise What’s New? Income Tax Rates As we have previously mentioned in TaxWise, tax cuts for every taxpayer came into effect on 1 July 2024. To remind you, the new personal income tax rates are set out in the table below.  Taxable income  Tax payable  $0 – $18,200  Nil  $18,201 – $45,000  Nil + 16%… Continue reading Individual News – September 2024

Business News – September 2024

TaxWise What’s New? Tax changes from 1 July 2024 A number of income tax measures relevant to businesses apply from 1 July 2024, including:  Tip! If you think any of these measures may affect your business, talk to your tax adviser. Income Tax Rates As we have previously mentioned in TaxWise, tax cuts for every… Continue reading Business News – September 2024

Business News – June 2024

TaxWise Year End Tax Tips How to Reduce Your Tax Bill  We are getting near the end of the tax year (30 June), so you might want to consider ways to reduce your business’ tax bill.   The two simplest ways to do this are to reduce assessable income or increase deductible expenditure. Either way, the… Continue reading Business News – June 2024