Tax-R-Us Accounting

Saving for your first home? There’s an easy way to boost your deposit by up to $50k 🤑

The First Home Super Saver (FHSS) scheme lets you make voluntary contributions to your super and withdraw them when it’s time to buy your first home.

With the scheme, any money you put in your super:
• gets taxed at a lower rate than ordinary income
• gives you a 30% tax offset when you withdraw the assessable amounts
• has associated earnings calculated based on the shortfall interest charge rate
• is kept aside until you’re ready to use it.

Less tax = more savings! 💸

When using AI, it's important to keep your private info private 🤫

If you give your TFN, bank details or any other personal info to AI, you might lose control over where that data is stored and how it‘s shared.

AI tools aren't always built to protect sensitive info, and they might not keep your details secure. The more personal info you put in, the bigger the risk it could end up somewhere unsafe.

If you don’t want it to be public, it’s best to keep it private 🔒

ATO VIDEO ON THE NEW SUPER PAYMENTS

Countdown to Payday Super - 4 months to go Deputy Commissioner Emma Rosenzweig highlights the actions employers need to take now to get ready for Payday Super and prepare for paying super each payday fro...