Tag: Tax

https://lombardipartners.com.au/app/uploads/Super-tax-flash.mp4   The Treasurer and Prime Minister confirmed today that the government will tax earnings on super balances over $3 million at 30 per cent from 1 July 2025. Currently, earnings from superannuation in the accumulation phase are taxed at a concessional rate of up to 15 per cent. This will continue for all superannuation accounts with balances below $3 million. From 2025‑26, the concessional tax rate applied to future earnings for balances…  Read more

Small Business Technology Investment Boost Small businesses are able to deduct an additional 20% of the expenditure they incur for the purpose of digitising business operations. This may include portable payment devices, cyber security systems and cloud-based service subscriptions. The concession ends 30 June 2023 and has a cap of $100,000.  Small Business Skills and Training Boost  Small businesses are able to deduct an additional 20% of the expenditure that…  Read more