What’s changing on 1 July 2024?
Clarke McEwan Accountants
What’s changing on 1 July 2024?
Here’s a summary of the key changes coming into effect on 1 July 2024:
- Tax cuts reduce personal income tax rates and change the thresholds.
- Superannuation guarantee increases from 11% to 11.5% - check the impact on any salary package arrangements.
- Superannuation caps increase from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions.
- Luxury car tax threshold increases to $91,387 for fuel-efficient vehicles and $80,567 for all others.
- Car limit for depreciation increases to $69,674.
- $300 energy relief credit for households comes into effect (credited automatically quarterly).
For business
- $325 energy relief credit for small business commences (for small businesses that meet the relevant State or Territory definition of a ‘small customer’).
- $20k instant asset write-off extended to 30 June 2025 (subject to the passage of legislation).
Podcasts are the new radio but for many business owners, there are often not enough hours in the day. Here are 9 to educate, entertain and inspire your next business move.
#smallbusiness #podcasts #businessaccountants #sunshinecoastbusiness #brisbanebusiness
You’ve sold your business! But what happens now!? We’ve outlined five potential pathways your post-sale life could take, and how they help you find new goals and lifestyles.
#exitstrategy #sellingup #businesstips #brisbanebusiness #sunshinecoastbusiness #brisbane #sunshinecoast #maroochydoreaccountants #brisbaneaccountants
A crystal ball would be handy in business. Good-quality forecasting can be just as useful, giving you an informed view of the future of your business and finances.
#forecasting #business
Happy New Year to our clients! Wishing you a very prosperous 2025 with time to focus on the things that matter most to you!
#HealthWealthHappiness #2025
What are the five big challenges your business will face in 2025? We’ve summarised five of the most significant external factors that could affect your business.
#2025 #externalthreats #businesstips
Happy Christmas! We wish you a happy Christmas and very well deserved end-of-year break. We are grateful for the opportunity to work with you and be a part of your business journey. It has been another year of hard work and challenges for our clients. We hope you will be able to take some time at Christmas to connect with family and friends to recharge and relax. Our office will be closed from Friday 20 January 2024 and reopening on Monday 6 January 2025. From all of us at Clarke McEwan Chartered Accountants and Business Advisors
Liability limited by a scheme approved under Professional Standards Legislation