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The SG rate was 9.5% on 1 July 2014, and was supposed to increase to 10% on 1 July 2018; and then increase by 0.5% each year until it reached 12% on 1 July 2022. The 2014 federal budget deferred the proposed 2018 SG rate increases by 3 years, with the 9.5% rate remaining until 30 June 2021, and is set to have five annual increases, where the SG ...
The taxable income of a superannuation fund is taxed at a flat rate of 15%; however, concessional contributions of those members whose taxable income exceeds $300,000 are subject to a rate of 30%. In the 2016 federal budget, the government proposed to reduce, effective 1 July 2017, the threshold when the tax rate of 30% comes in to members ...
From 2015/16, designated "small business entities" with an aggregated annual turnover threshold of less than $2 million were eligible for a lower tax rate of 28.5%. Since 1 July 2016, small business entities with aggregated annual turnover of less than $10 million have had a reduced company tax rate of 27.5%.
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
The small to medium business tax rate will also be lowered once again, by 1% to 27.5%, effective 1 July 2016. [ 8 ] [ 9 ] The turnover threshold in which small businesses would be eligible for this lower tax rate will be raised significantly, from $2 million to $10 million, with the expectation that it will once again be raised to $25 million ...
5/1 adjustable rate mortgage. 6.49%. ... After increasing the target interest rate 11 times from March 2022 to July 2023 in an effort to combat the ... 2024: Fed cuts rates by another quarter ...
It was the largest superannuation fund merger in Australian history. [4] On 30 April 2022, the Australia Post Superannuation Scheme (APSS) was merged into the Australian Retirement Trust. [5] In May 2022, Woolworths appointed the Australian Retirement Trust to manage its corporate superannuation services. [6]
It was subsequently reported that Cbus had hosted a "40th birthday" party in July 2024 at a cost of nearly $400,000, "attended by staff, stakeholders and industry participants, including the controversial then-boss of the CFMEU’s Victorian branch, John Setka", which had been classed as a "staff professional development" expense.