The ATO have issued a reminder that the SG rate is set to increase from 11.5% to 12% on 1 July 2025 and will need to apply for all salary and wages paid to eligible workers on and after 1 July 2025.
The Government has announced it will delay implementation of the new Aged Care Act 2024.
The new Act includes major changes to residential aged care and home care that were due to commence on 1 July 2025.
The Government is delaying the start date to 1 November 2025 to allow the sector more time to prepare and implement the changes.
Read this FirstTech Newsflash for more information.
The Governments My Aged Care site has released new tools to help estimate how much client's will need to pay for aged care services.
The new tools estimate fees under the current rules and the new rules that will apply from 1 July 2025.
- Support at Home fee estimator
The Government has announced that it intends to re-introduce its proposed Division 296 tax changes. The original Bill applied an additional 15% tax on super earnings that correspond to a member’s total superannuation balance above $3 million from the 2025–26 year.
This article explains how the tax, as outlined in the original Bill, was proposed to operate, including proposed changes to the definition of Total Superannuation Balance (TSB) which could also have broader impacts.
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The eligibility criteria to be able to make carry forward concessional contributions is relatively simple, however there are some misunderstandings as to how it works in practice.
This article looks at a range of common adviser questions the FirstTech team receive in relation to this measure.
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