We are pleased to supply you with the latest edition of Client Alert, which contains information on a number of important developments up to and including 25 November 2024.

The next edition will be published in February 2025. We wish you all the best for the festive season and new year.

• Understanding the Australian Government’s plan for cash and cheques – As digital payments become increasingly prevalent, the government has announced it’s taking significant steps to modernise the nation’s payment system.
• Proposed changes to HELP loans could mean lower repayments in 2025 – If you’re one of the millions of Australians with a HELP debt, you might be wondering how the government’s proposed changes loans could affect you.
• Understanding the Medicare levy and Medicare levy surcharge – Navigating the Australian tax system can be challenging, especially when it comes to understanding the Medicare levy and the Medicare levy surcharge.
• FBT and tax considerations for end-of-year parties and gifts – As the end-of-year season approaches, it’s a great time to celebrate with your employees and show appreciation for their hard work throughout the year; however, it’s essential to understand the potential tax implications.
• Managing your business’s tax debts – Facing a tax bill is a common challenge for many Australian businesses, and the ATO has recently shifted to a more active approach to debt recovery.
• Spouse contribution splitting: a strategic approach to retirement planning – As retirement approaches, couples often discover a significant imbalance in their superannuation accounts. Addressing it proactively can be beneficial for various retirement strategies.
• Super, KiwiSaver and the Trans-Tasman Retirement Savings Portability Scheme – If you’re thinking of making a permanent move between New Zealand and Australia, what do you do about your superannuation fund or KiwiSaver scheme?

Client Alert_December 2024

Explanatory Memorandum_December 2024

Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.