Timeline of Initiatives - Budget 2024-25

Measures and Start Date at a Glance

The Economy - Budget 2024-25

Key statistics: GDP; Inflation; Unemployment; Wages and Business Investment; Inflation and Cash Rate

Other Measures - Budget 2024-25

Women’s budget statement; Safe and responsible A.I.; Quantum computing capability development; 2023-24 measures not yet implemented

Government & Regulators - Budget 2024-25

Modernising digital assets and payments regulation; Extension of transitional reporting for charities; ATO counter fraud strategy; Funding ATO priority targets; Measures not proceeding

Business & Employers - Budget 2024-25

$325 energy relief for small business; $20k Small business instant asset write-off extended; The Future Made in Australia initiative; Film producer tax offset; Small business support services

Superannuation & Investors - Budget 2024-25

The Foreign Resident Capital Gains Tax (CGT) regime will be expanded.

Individuals & Families - Budget 2024-25

As previously announced, the Government has legislated permanent tax cuts for all Australian taxpayers from 1 July 2024.

Self-Employed and the Immediate vs Delayed Gratification Trap

If you are finding it difficult to stay the course to achieve your future goals it is likely you are not incorporating the cognitive behaviour of ‘delayed gratification’ into your decision making.

Accessing Money in your SMSF

The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs).