This month we look at: Stage three personal tax cuts, states move on property based taxes, Australian super funds gorge on cryptocurrency and lessons from a data breach
- To cut or not to cut? Stage three personal tax cuts:
Heading into the 2022-23 Federal Budget on 25 October, the question for the Australian Government is not whether to introduce personal income tax cuts but whether to keep, amend or repeal the cuts legislated to commence on 1 July 2024. Pages 1-2. Read More
- States move on property based taxes:
We explore the Queensland back-down on Australia wide land tax assessments, and the stamp duty or an annual property tax option for NSW first home buyers? Pages 3-4. Read More
The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics. We look at the ASIC warning on scams and the safety net considerations if your SMSF is investing in crypto. Page 5. Read More
- Lessons from a data breach:
The Optus data breach is top of mind for a lot of Australians, particularly those who have had their data breached. For business, the breach is a timely warning on the importance of understanding what data is held on your customers (and should you hold it?), how it is secured, how your systems work and the process to identify gaps and deficiencies, the appropriate actions if and when a breach occurs, and the impact on your relationship to your customer. This is not something that can be outsourced to IT but a whole of business issue. Page 6. Read More
Quote of the month:
"When something is important enough, you do it even if the odds are not in your favour."
Elon Musk
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