Insights From MCA

The 2025 federal budget has been released, projecting deficits as far as the eye can see and only small tax breaks for ordinary Australians. To try and keep their promise of cheaper electricity bills, the Government will give households a quarterly payment, and student loan holders will get a little windfall. Overall, the budget spends more and doesn’t really provide Australian’s any real relief, which is disappointing.

From 1 April 2025, the ATO will be moving small businesses with a “poor compliance history” to monthly BAS’s. It’s the first time in 25 years that the ATO will enforce this rule, which is another in the long line of things that the ATO is clamping down on.

Many people involve a trust in their business or investment structures, but very few people fully understand what you need to do to maintain your trust to ensure that it not only continues to serve its purpose, but also doesn’t create headaches for you.