A bill proposing to increase the instant asset write off threshold in Div 328 of ITAA 1997 from $1,000 to $20,000 has been introduced in the Parliament and awaits approval.
A number of social security measures have been announced in the 2023 Federal budget to help Australians combat current inflation and cost of living expenses pressures.
The $450 threshold for super eligibility is removed from July 2022. This could impact payroll costs. If you rely on a pool of casual workers who earn less than $450 per month, talk to us. We can help you prepare for the increased cost.