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New 15% super tax to apply from 1 July 2025 The Government recently announced it will be imposing a 15% additional tax on individuals that have more than $3 million in superannuation. The new measure is expected to commence from 1 July 2025 (i.e., the start of the 2026 income year). The main takeaways from the information provided thus far include the following: The additional 15% tax will… Read more
With the FBT year coming to an end, this question pop ups a lot – what is FBT exemption for electric cars and how does it work? Essentially, from 1 July 2022 employers aren’t liable for FBT on eligible electric cars and associated car expenses. What are the basis rules for making your electric car FBT exempt? Car is a zero or low emissions vehicle This covers battery electric vehicle… Read more
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