ATO Interest No Longer Tax Deductible – We have a solution!
Important Tax Update: ATO Interest Deductions Ending Soon From 1 July 2025, interest charged by the ATO on unpaid tax debts will no longer be tax deductible. This applies to general interest charges on income tax, GST, PAYG and superannuation liabilities. If you have a current payment plan with the ATO or anticipate needing one, […]
2025 Year-End Planning Guide
With 30 June fast approaching, we thought it would be an opportune time to provide you with a Year-End Planning memorandum. This document details key dates, recent reforms and tax planning opportunities that may affect you and your business. Read our year-end planning guide Key Summary Points Please do not hesitate to contact our office […]
FBT: Fringe Benefits Tax
It’s FBT Time – What You Need to Know for 2025! The Fringe Benefits Tax (FBT) year ended on 31 March 2025, and it’s now time to assess your FBT obligations. The Australian Taxation Office (ATO) has announced that FBT compliance is a key focus for 2024–25, especially for privately owned and wealthy groups. In […]
Year End Planning Guide – June 2024
Access the full guide here. With 30 June fast approaching, we thought it would be an opportune time to provide you with a Year-End Planning memorandum. This document details key dates, recent reforms and tax planning opportunities that may affect you and your business. Should you have any questions about the information included in this […]
Federal Budget 2024 – 2025 Analysis
Read our recap of the budget in full detail here. Last night, Treasurer Jim Chalmers handed down the 2024 – 2025 Budget in Parliament House. This budget delivered a surplus for a second year in a row with a number of measures targeted at supporting Australians during a cost of living crisis. MGI Adelaide is […]
Year End Planning Guide – June 2023
With 30 June fast approaching, we thought it would be an opportune time to provide you with a Year End Planning memorandum detailing key dates, recent reforms and tax planning opportunities for you and your business.
Budget 2023 – 2024
MGI Adelaide is pleased to present our summary of the recently released federal budget and its implications for our clients.
Federal Budget Update – October 2022
This first budget of the new Labor Government delivers a reallocation of resources and a shifting of focus by the government rather than any significant new measures. This budget is aimed at buffering the impact of global uncertainty being agitated by war, floods and the pandemic. Read our full budget analysis.
Year-End Planning- June 2022
With 30 June fast approaching, we thought it would be an opportune time to provide you with a Year – End Planning memorandum detailing key dates, recent reforms and tax planning opportunities for you and your business.
Extension of the JobKeeper Payment
Between April to May 2020, JobKeeper was taken up by 920,000 organisations and around 3.5 million individuals – 30% of pre-Coronavirus private sector employment. On 21 July 2020, the Government announced an extension of the JobKeeper program to 28 March 2021 but with tighter access and reduced rates. From 28 September 2020, employers seeking to […]
