Client Alert – Instant asset write offs and more
Working out your WFH expenses this tax time To be eligible to claim working from home (WFH) expenses, you need to be genuinely working from home to fulfil your employment duties, not just checking emails or taking occasional calls. You must also incur additional running expenses because of your WFH arrangement. These additional costs can […]
The Comeback Issue
After a little time away from your inbox, the Hurley & Co newsletter is making its return. While we’ve been quiet on the updates, we’ve been busy behind the scenes supporting our clients, growing our team, and staying across all the latest in tax, business, and compliance. We’re now back with fresh insights, practical tips, […]
Labor plans to axe super tax breaks for wealthy
Financial Services Minister Stephen Jones said Labor plans to tackle tax concessions once an objective of the superannuation system has been put into legislation. People with millions of dollars in their superannuation are receiving tax concessions that ultimately have a “real cost to the budget”, the Minister said. “The concessional taxation of superannuation is a […]
Downsizing contributions into superannuation
From 1 July 2022 the eligible age is 60 years old or older. Prior to 30 June 2022 it was 65 years old or older. Some of the eligibility criteria you must satisfy are: The home must be in Australia, have been owned by you or your spouse for at least 10 years and the disposal must be […]
ASIC Tells Australians to Actively mange their super
Warren Day has called on Australians to actively engage with their super in order to set themselves up for retirement. In a recent interview with the ABC, Mr Day stated that retirement outcomes depended significantly on when individuals begin planning and whether they have accumulated enough wealth during their working life. “While super is not […]