News

The Senate has passed amendments to the instant asset write-off which are effective for purchases of business assets from 1 July 2023 to 30 June 2024 as follows:  When the amendment bill passes through Parliament and receives Royal Assent, businesses with an aggregated turnover of less than $50 million can immediately write off eligible depreciating …

Instant Asset Write-Off Changes Read More »

As most of you are aware, I have been diagnosed with Stage 4 cancer. March is Colorectal Cancer Awareness Month and this year the team at Coeus Advisers has partnered with the GI Cancer Institute to raise funds and awareness for this disease.  Colorectal cancer, also known as bowel cancer, is projected to become the fourth …

Coeus Advisers & GI Cancer Fundraiser Read More »

Superannuation Contribution Limits From 1 July 2024: Superannuation Guarantee Charge The compulsory superannuation guarantee charge will increase from 11% to 11.5% with effect from 1 July 2024.  Most payroll systems will automatically accommodate this however please review your systems to ensure this has been updated.  All businesses should be budgeting for this additional cost. Revised …

Superannuation & Tax Changes – 1 July 2024 Read More »

It has been a busy year for us at Coeus Advisers our practice has continued to grow thanks to the support of our clients and business partners.  This year we welcomed Lynlea Carrodus as a new employee to the firm.  Lynlea previously worked with me approximately 10 years ago and her specialist superannuation and tax …

Merry Christmas and Thank You Read More »

For those of you seeking some guidance on where to best place your investments for this year’s Melbourne Cup we once again provide you with our resident expert Brad Ryan’s tips for the race that stops a nation.  Over to you Brad… Whilst the weather forecast in Melbourne is for a possible thunderstorm late afternoon …

The Melbourne Cup – 2023 Read More »

Please be advised that we are seeing the Australian Taxation Office significantly increase the level of its compliance and collection enforcement activities.  The areas that the Tax Office are focusing on include: We remind all of our clients to continue to be vigilant in ensuring they are up to date with their lodgments and payments …

Tax Office – Compliance and Collection Activity Ramps Up Read More »

The Federal Government during COVID provided businesses with generous tax concessions for the purchase of equipment and vehicles used for business purposes.  The effect of these measures (known as either the instant asset write-off or temporary full expensing) was that the business would receive a deduction in the year of acquisition for the entire cost …

Vehicle Trade-Ins – A Taxing Time Read More »

Whilst the property market continues to remain strong and prices make it seem difficult for first home buyers there are a number of concessions and schemes aimed at making it easier for first home buyers to realise their dream.  We detail below the various assistance available. First Home Guarantee Scheme Under this scheme eligible home …

Practical Assistance for First Home Buyers Read More »

For people or entities that have borrowed from their related companies under complying Division 7a loan terms there has been a significant increase in the interest rate required to be charged under the terms of those loan agreements from 4.77% to 8.27%. The impact of these changes are as follows: Note that where the borrowed …

Division 7A Loans – Significant Interest Rate Increase 2023-24 Read More »

In response to COVID-19, the Federal government temporarily reduced superannuation minimum drawdown requirements for account-based pensions and similar products by 50% for 2019–20, 2020–21, 2021–22 and 2022–23 financial years. For the 2023–24 financial year, the 50% reduction in the minimum pension drawdown rate will no longer apply. This means that on 1 July 2023 when you …

Minimum Pensions to Increase for New Financial Year Read More »