While the first budget surplus in a decade and a half is to be celebrated, the joy could be short-lived. High commodity prices and low unemployment have combined to increase government revenue higher than forecast by the Treasury. By next year’s budget, it’s expected there will be a return to deficits for the foreseeable future.

First home buyers in NSW who opted- in to the new property tax regime will soon receive their first notice of assessment. A confirmation letter will be sent out by Revenue NSW in relation to their property tax registration and payment obligations.

Are you managing your farm’s payroll on paper or spreadsheets? The FWO and ATO are actively investigating agribusiness payroll records. Talk to AKW about getting a digital system that will save time, money and make payroll record keeping easier.

The federal government has announced its intention to change tax concessional treatment of very large super account balances from 1 July 2025. Individuals with over $3 million in super will be affected.