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The Aged Care Rules are a legislative instrument that outlines how the new Aged Care Act 2024 will be implemented from 1 November 2025.

 

Following a period of public consultation, the government has released the final draft of these rules. The Rules will come into effect once they have been signed by the Minister for Aged Care and Seniors and published on the Federal Register of Legislation.

 

The final version is subject to passage and Royal Assent of related amending legislation passing Parliament.

 

Further information regarding the key changes made to the rules following the consultation period can be found here.

The ATO has advised taxpayers that pre-filled information is now available in individual tax returns from employers, banks, government agencies and private health insurers.

 

The ATO Assistant Commissioner stated 'You’ve been patiently waiting, but now you’re good to go! Whether you lodge using a registered tax agent or lodge yourself through myTax, pre-fill information will now be available'.

 

Taxpayers are reminded to check the pre-filled data to ensure accuracy, add anything that may be missing and then include any deductions they are entitled to claim. All sources of income should be included in the tax returns, eg side-hustles, linked income from providing ride sourcing services or selling services via an app.

 

The ATO also encouraged taxpayers to use the ATO's app to help keep their personal information safe and protected.

 

Taxpayers have until 31 October to lodge their tax return or to get on the books of a registered tax agent, which may allow them more time to lodge.

The 22nd of July 2025, marked the formal opening of the 48th Parliament. 

 

A number of bills have been introduced since Pailament commenced including:

 

HECS debt 20% reduction
  • On 23 July 2025, the government introduced the Universities Accord (Cutting Student Debt by 20 Per Cent) Bill 2025 into parliament proposing two key changes:
  • One-off HELP debt reduction: A 20% reduction in debts under the Higher Education Loan Program (HELP) and other student loans governed by the Student Loans Acts, for debts incurred on or before 1 June 2025.
  • Fairer repayment system:
    • The minimum repayment threshold will increase from $54,435 in 2024–25 to $67,000 in 2025–26, with future increases tied to wage growth.
    • A new marginal repayment system will be introduced, where compulsory repayments apply only to income above the $67,000 threshold, rather than being calculated as a percentage of total repayment income.
  • The bill is currently under consideration in the Senate and has not yet become law.
Aged Care Amendments

Aged Care and Other Legislation Amendment Bill 2025 was introduced to parliament on 24/7/25.

 

The Bill introduces technical changes to the Aged Care Act 2024 and other related legislation in order to support the rollout of aged care reforms.

 

Two notable amendments include:

1. Clarification of Retention Provisions for Lump Sum Accommodation Payments

These amendments refine how retention applies to Refundable Accommodation Deposits (RADs) and Refundable Accommodation Contributions (RACs):

  • Retention Rate: Maintains the 2% rate, now explicitly calculated daily on the deposit balance.
  • Deduction Frequency: Deductions must occur regularly—no more than once a month and at least once every three months.
  • Five-Year Retention Period: Excludes any time when the individual is not a permanent resident of an aged care home.
  • Retention Period Continuity: The clock continues during:
    • Approved leave (e.g., social leave)
    • Temporary absences (e.g., hospital stays)
    • Periods when the deposit is reduced to zero and only daily payments are made
  • Retention Period Pausing: New subclauses 308(5) and (6) pause the clock during permanent breaks in care.
    • The clock resumes only when a refundable deposit is paid again—not when the individual re-enters care.
  • Trigger for Retention Period: The five-year period starts from the date a refundable deposit is paid, not the care start date.

 

2. Transitional Rule-Making Power for the Minister

To ensure smooth implementation of the new aged care system, the Bill grants the Minister a temporary power to make rules for the first 24 months after the Act commences:

  • Purpose: To maintain service continuity and address unforeseen or technical issues during the transition.
  • Scope:
    • Rules may modify provisions of both new and old legislation, but only if directly related to aged care.
    • Rules cannot impose convictions or financial penalties.
  • Conditions:
    • The Minister must be objectively satisfied that any rule is necessary or appropriate—not merely convenient.
    • All rules are subject to Parliamentary disallowance.

Time Limit: Rules automatically expire within 24 months unless repealed earlier.

 

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Tax return tips to help implement financial planning strategies successfully

Several financial planning strategies rely on the correct completion of the individual tax return.

If key items are missed or incorrectly reported, the strategy may not work as intended, and in some cases, may even trigger adverse tax consequences.

 

 

Exceeding the non-concessional cap - options

Where a client exceeds their non-concessional contributions cap, the ATO will issue a determination notice advising options to deal with the excess.   This article looks at common scenarios and the impact on the client’s super and tax positions. 

 

 

 

 

 

Company directors and the retirement condition of release

 
 

Is it possible for the director of a private company to trigger the retirement condition of release by resigning their directorship after turning age 60? 

 

 

 

 

 

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