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Overview of the Federal Budget 2023 – 24
The following are all the links to the federal government's description of its 2023 Budget. At the bottom are the Budget Documents for those that love to get into the fine detail of a Budget.
2023 Federal Budget: Stronger foundations for a better future
‘Seeing our people through the hard times – and setting our country up for a better future’ “While Australia may have a lot coming at us – we have a lot going for us too” – Dr Jim Chalmers, 2023-2024 Federal Budget Speech.
The importance of SMSF succession planning
Preparing for loss of capacity or death is vital for SMSF members. It's important to ensure your trust deed is watertight.
Banks launch scam awareness campaign
The new campaign highlights the importance of customer alertness against criminal activity by scammers.
Unintended consequences of work test changes to be rectified
New draft legislation to the work test mean impacted individuals will retain their ability to claim deductions for personal contributions post 30 June 2022, says a leading adviser.
ATO warns of rise in SMSF identity fraud and investment scams
The ATO has warned SMSF members to be aware of identity fraud and investment scams.
Our investment and economic forecasts, April 2023
Our latest forecast changes include expectations for:
ATO warns SMSF on sole purpose test for property investment
Property investment by an SMSF will fail the sole purpose test if it provides pre-retirement benefit to someone such as personal use of a fund asset, warned the ATO director of the SMSF Auditors Segment.
Australian retirees face accelerating price pressures
Couples now need nearly $70,000 per year to achieve a comfortable retirement, while singles need around $50,000 according to an analysis from the ASFA Retirement Standard.