As we approach the end of the 2024-25 financial year, now is a critical time to review your tax position and take advantage of existing opportunities before several key changes take effect. This guide outlines practical strategies to optimise your tax outcomes while also highlighting important upcoming legislative changes that may impact your future planning.
With major tax shifts on the table, this election could reshape the financial landscape for business owners and high-income earners. From Labor’s asset write-off extension to the Coalition’s bold mortgage interest deduction scheme, we break down what each party’s tax plan really means for your bottom line – and how to prepare.
If you own an investment property, tax depreciation could put serious money back in your pocket each year – yet many investors don’t realise what they can claim. With the right advice and a depreciation schedule prepared by a quantity surveyor, you could be saving thousands at tax time.
Working form home? The ATO has increased the fixed rate for home office deductions to 70c per hour. Find out what this means for your 2024-25 tax return and how to stay compliant with updated record-keeping rules.
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