Federal Budget 2024-25 Update

Federal Budget 2024-25 Update

The Federal Budget, handed down on Tuesday 14 May, contained a number of tax, superannuation, tax administration and social security/cost of living proposals that may impact your clients (and their businesses) in relation to the following matters:

• Instant asset write-off 

• CGT and foreign residents 

• The training and energy efficiency boosts

• ATO discretion to offset old tax debts 

• Refund frauds and BAS refunds

• Student loans repayments 

• Super to be paid on paid parental leave

• Social security deeming rates

• Commonwealth Rent Assistance

• and more.

Contact us if you would like to discuss any of these measures.