Delay in Div 296 tax ‘no surprise’: SMSFA
The recent speculation surrounding the potential postponement of the Division 296 tax has elicited no surprise from the Self-Managed Superannuation Fund (SMSF) Association. Peter Burgess, the Chief Executive, conveyed that he had “heard through informal channels” about increasing concerns and opposition within the Labor party, with several members expressing apprehension about possible political repercussions. “It […]
Important updates in superannuation for both employees and employers
On 1 July 2025, the superannuation guarantee rate increased to 12%, marking the final stage of a series of previously legislated increases. Employers are currently required to make superannuation guarantee (SG) contributions for their employees by 28 days after the end of each quarter (28 October, 28 January, 28 April, and 28 July). There is […]
The Consequences of Dying Without a Will
A Cautionary Tale from the Picasso Case The aftermath of Picasso’s passing resulted in a lengthy six-year legal struggle, costing over $30 million and causing rifts within his family. Unfortunately, the turmoil extended beyond the courtroom, as unresolved issues regarding copyrights and licensing continued to cloud his legacy. Failing to create a will does not […]
Non-compete clauses
In March of this year, the Government announced its intention to ban non-compete clauses for low- and middle-income employees and consult on the use of non-compete clauses for those on higher incomes. The Government has indicated that the reforms in this area will take effect from 2027. This didn’t come as a complete surprise as […]
Corporate tax reform
The PC notes that business investment has declined notably over the past decade, and that the corporate tax system plays a significant role in addressing this decline. The PC is basically suggesting that the existing corporate tax system needs to be updated to move towards a more efficient mix of taxes. The first stage of […]
Creating a more dynamic and resilient economy
The Productivity Commission (PC) has been tasked by the Australian Government to conduct an inquiry into creating a more dynamic and resilient economy. The PC was tasked with identifying priority reforms and developing actionable recommendations. The PC has now released its interim report, which presents some draft recommendations that are focused on two key areas: […]
A win for those carrying student debt
To support young Australians amid rising living costs, the Australian Government has introduced legislation to reduce student loan debt by 20% and update the method for determining repayments. This approach aims to provide substantial, practical support. 20% reduction in student debt The reduction is expected to benefit more than 3 million Australians and remove over […]
RBA Dropped Rates to 3.60%: What this means for your business strategy
The Reserve Bank of Australia (RBA) cut the cash rate by 25 basis points to 3.60 percent at its August 2025 meeting. This was the third reduction so far this year, bringing the official cash rate down from its 2024 peak of 4.35 percent to today’s level. Potential impacts Most major banks passed on the […]
Dying without a will: Make a will
The Homes à Court case In 1990, Australia’s first billionaire, Robert Holmes à Court, died suddenly at 53—leaving behind a $2 billion empire and, crucially, no signed will. Despite his business brilliance, he never formalised his wishes, reportedly carrying a draft will in his briefcase for years. The Takeaway Don’t leave it until tomorrow, as […]
Superannuation rates and thresholds updates
Super guarantee rate now 12%: what it means for employers From 1 July 2025, the superannuation guarantee (SG) rate officially rose to 12% of ordinary time earnings (OTE). This is the final step in the gradual increase legislated under previous reforms. What’s changed? Old rate: 11.5% (up to 30 June 2025)New rate: 12% (from 1 […]