Tax saving strategies prior to 1 July 2023 A strategy often used to reduce taxable income (and, in turn, tax payable) in an income year is to bring forward any expected or planned deductible expenditure from a later income year.  However, any individuals with potentially reduced income for the 2023 tax season may want to…Read More

1. Income support for individuals From 27 April 2020, the Government will introduce a Coronavirus supplement of $550 per fortnight (payable to individuals currently receiving certain eligible income support payments) and will also temporarily expand access to certain income support payments, over a six-month period. The Government will also provide two separate $750 tax-free payments…Read More