Highlight of last nights Federal Budget – How does it impact you?
Highlight of last nights Federal Budget – How does it impact you? Major changes include Super contributions cap increased Super tax for high earners increased Baby Bonus abolished Income tax cuts on hold Medicare levy increased Childcare rebate frozen Superannuation The budget essentially confirmed previous superannuation announcements and in some areas provided additional clarification. The key measures previously announced include: Concessional contributions cap increased to $35,000  As […]
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What are the proposed changes to the Government super guarantee contributions (SGC)?
What are the proposed changes to the Government super guarantee contributions (SGC)? To help grow Australian workers’ savings for retirement, it is intended the compulsory super guarantee contributions that employers are obligated to pay qualifying staff, will gradually increase from 9% to 12% over the coming years. When super payments are made by your employer based on the minimum 9% super guarantee rate, they will be required to increase this rate to 9.25% […]
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‘Tis the season to be merry, can I give my staff a tax deductible gift?
‘Tis the season to be merry, can I give my staff a tax deductible gift? This year has passed by faster than ever, and it is unbelievable we are only a week from Christmas now. Many small business owners like to thank their employees around this time of year, in the spirit of giving and appreciation. We often have  enquiries from business clients, as to how they should classify gifts […]
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Business Owners – Can I give a Christmas gift to my clients?
Business Owners – Can I give a Christmas gift to my clients? At this time of the year it is common to provide gifts to existing clients and customers as an act of goodwill and as a thank you for their custom and support of your business. As the gift is an expense to your business it is generally considered to be a tax deduction. The ATO […]
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Maddern Financial team meet Federal Finance Minister, Superannuation Minister
Maddern Financial team meet Federal Finance Minister, Superannuation Minister Several members of the Maddern Financial Advisers team recently contributed to the Association of Independently-Owned Financial Professionals onshore conference in Hobart. As part of his deep commitment to the non-aligned approach of our Advice business, Dennis sits on the board of this important association. The ideology of the event is to bring together in unity […]
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