Key points from the 2023-24 Federal Budget
Federal Budgets can involve a lot of content. The following are a quick summary of the main issues. The other related article has more detail.
Holiday Home Tax
Many Australians own a holiday home, but according to the Australian Taxation Office, there
are a small number of holiday home owners who, on average claim deductions that are six
times higher than income earned from the property.
Single Touch Payroll Reporting
The fine tuning of Single Touch Payroll is now endeavouring to disguise family violence
leave.
Small business must race to beat instant asset write-off deadline
Small business will need to race to beat the cut-off date for the instant asset write-off scheme, says a tax principal at RSM Australia, or become ensnared in “significant red tape” once more onerous rules came back into force.
Small businesses need hands-on help with cyber security
Firms confront too much information but insufficient practical guidance when it comes to digital lockdown, says COSBOA.
Changes to parental and workplace sexual harassment laws
New workplace changes to paid parental leave, and workplace sexual harassment laws.
Preparing for EOFY tax scams with business and cyber resilience
Every end of financial year (EOFY) season involves a rush by Australians wanting to get their tax returns completed. Increasingly, though, this period is seen as an opportunity for bad people to take advantage of us.
Overview of the Federal Budget 2023 – 24
The following are all the links to the federal government's description of its 2023 Budget. At the bottom are the Budget Documents for those that love to get into the fine detail of a Budget.