This month we look at several tax and superannuation changes that could affect how individuals and businesses manage their finances.
The ATO’s decision to extend credit card payments until 30 June 2027 gives taxpayers more time to prepare for the withdrawal of this payment option, while proposed changes to PAYG instalments could give businesses greater flexibility over payment frequency, or require more frequent payments for those with a history of non-compliance. We examine the proposed changes to the electric vehicle FBT exemption, highlighting why vehicle value and the timing of commitments could influence the tax benefits available.
Finally, we explore proposed consumer protection reforms for superannuation and SMSFs, including stronger trustee safeguards, education requirements and potential changes to the SMSF supervisory levy and compensation scheme.
