Tax Cuts Passed

The Government’s revised Stage 3 tax cuts have passed.

Effective 1st July, 2024, there are changes to a number of thresholds and tax brackets.

What does this mean for you?

  • There is opportunity to make contributions to Superannuation and boost your retirement savings with the tax savings
  • Your marginal tax rate may be higher than anticipated next year and it is worth reviewing your tax minimisation strategies
  • It is important to consider the timing of any tax strategies – this financial year or next? – including;
    • Employment termination payments that may be in the works
    • Considering the timing of selling assets to manage CGT outcomes
    • Considering when to make tax deductible expenses

We encourage you to give our office a call on 1300 014 368 if you would like any information as to how the tax cuts may impact your personal situation and the impact on any strategies.


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