Insights
Welcome to the Saab Partners blog, your one-stop source for the latest insights, trends, and expertise in the world of accounting and financial services. Join us as we navigate the ever-changing landscape of finance, empowering businesses and individuals through strategic partnerships and unparalleled expertise.
What’s ahead for 2024-25?
Will 2024-25 be another year of volatility or a return to stability?
$20k instant asset write-off passes Parliament
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end of the financial year.
Is your family home really tax free?
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s never that simple.
Earned an income from the sharing economy?
It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.
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...
5 million+ struggle with mortgage payments
New nationwide research released by ASIC’s Moneysmart reveals that 47% of Australian adults with debt, the equivalent of 5.8 million people, have struggled to make repayments in the last 12 months. Alarmingly, the research revealed that more than half surveyed,...
ATO fires warning shot on trust distributions
The ATO has warned that it is looking closely at how trusts distribute income and to who. The way in which trusts distribute income has come under intense scrutiny in recent years. Trust distribution arrangements need to be carefully considered by trustees before...
The essential 30 June guide
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. For you Opportunities Take advantage of the 1 July 2024 tax cuts by bringing forward your deductible...
Company money crackdown
The ATO is cracking down on business owners who take money or use company resources for their personal use.