Significant Change To ATO Interest Charges Deductibility And A Firmer Approach To Debt Recovery
by Luke Quinnell Taxpayers that incur general interest charge (GIC) and shortfall interest charges (SIC) from 1 July 2025 will not be able to claim these expenses as a tax deduction. This means that the costs of not paying your tax debt on time will significantly increase from 1 July 2025. The current ATO GIC […]
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Tax Consequences Of Receiving A Total And Permanent Disability (TPD) Payment
by Erin Harding Are you receiving a Total and Permanent Disability (TPD) payment this financial year from your superannuation fund? If so, there may be significant tax consequences. TPD Payments TPD payments are divided into tax-free and taxable components. The tax-free component is not included in your taxable income and this amount is calculated based […]
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Tax Brackets And How They Apply – Including Explanation Of The Federal Budget Tax Cuts
by Ruby Chowdhury One fundamental but often misunderstood concept is tax brackets and how they work. Tax brackets are used for taxes on individuals however it is important to understand how they work when determining how to distribute your income if generated through a trust or company. Leading up to the end of the tax […]
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Top Ten Myths About Financial Advice – And Why They’re Costing You Money
There’s no shortage of misconceptions about financial advice. From outdated stereotypes to straight-up myths, these misunderstandings often prevent people from seeking the help they need to build wealth, protect assets, and plan for the future. In a world where financial complexity is growing, these myths could be costing Australians thousands – if not millions – […]
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Want To Elevate & Scale Up Your Small Business? Start Here
by Nick Allen Picture this, you are running a small owner-operator business, and business is booming. You want to take the next step toward scaling your enterprise, but you are at capacity. You can see opportunities for growth everywhere. You have a solid business plan and are gaining traction and a reputation in your field […]
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Contact Us
Newcastle: Level 1, 56 Hudson Street Hamilton NSW 2303
Singleton: 3/6 Castlereagh Street Singleton NSW 2330
East Gosford: Suite A & B, 78 York Street East Gosford NSW 2250
Postal: PO Box 1050 Hamilton NSW 2303
Newcastle Office (02) 4969 6600
Singleton Office (02) 5542 8165
East Gosford Office (02) 4092 4111
info@lambourne.com.au