2024/25 Tax Rates for Australian Residents
The Australian Taxation Office (ATO) has updated the income tax rates for Australian residents for the 2024–25 financial year (1 July 2024 to 30 June 2025), incorporating the Stage 3 tax cuts effective from 1 July 2024. These rates apply to Australian residents for tax purposes and do not include the 2% Medicare levy, which […]
ATO: Which Covid-19 Grants are Taxable?
The ATO has provided a list of all the covid-19 grants that are Non-Assessable Non-Exempt (NANE). You will need to confirm with the ATO if the grants you received are taxable or NANE. You will need to include in your tax return this financial year all income from all sources that is taxable. This may […]