Tax Updates - July 2024 - Personal Taxes
July 20, 2024
Personal tax changes kick in today! What is expected and what actions are needed?
Personal Income Tax ThresholdsChanges to individual personal Income Tax thresholds come into effect from 31 July 2024.Because these tax cuts are effective part way through the 2025 financial year, there will be composite rates that apply for this year.See below the new incom...
Tax Updates - July 2024 - Residential Rental Properties
July 20, 2024
Residential Rental Property Tax Changes are not static!
The most recent of tax changes that could affect you, are you aware of the changes?Residential Property Brightline TestChanges to the Brightline test to came into effect on 1 July 2024.The Brightline test period for residential property has been reduced from ten years to two...