Tax flashes

The Albanese Government has announced sweeping changes to the Australian tax system with significant adjustments to Capital Gains Tax (CGT), Negative Gearing and Discretionary Trusts. All with little benefit for the Australian taxpayer.

With Treasurer Jim Chalmers laying out some fundamental changes to our tax system, we break it all down with our 2026/2027 Federal Budget Tax Flash including how it will affect you and your business.

The holidays are nearly here and what a year it’s been! We are thrilled to have seen our client base continue to expand in 2024, which means we have also been welcoming plenty of new faces to the HSPlus team. 

Helping businesses kick their goals is always rewarding and we look forward to seeing more of this in 2025.

As we move into November, we are looking forward to a strong final few months of 2024. People are at the centre of what we do, so we love highlighting our clients where we can. Below you’ll find an insightful client profile of Zone 1 Projects. Read on to learn about the dawn of their business, their future plans and how we worked with them to dramatically change their operating structure for the better.

It’s a busy time for many businesses, so this month we have a roundup of the latest industry news and updates. Our latest tax return checklists are also now available to help you get organised, including what you need to know for your rental property, business and individual tax returns.

Welcome to this edition of Tax Flash, where we unpack the 2024/25 Federal Budget. Treasurer Jim Chalmers has forecast a second surplus for his third Federal Budget. Utilising this surplus he is seeking to provide cost-of-living relief, whilst running the tightrope of managing the current inflation. With this surplus not estimated to last into the following financial year, this government is aiming to reduce what they can in preparation for the deficit to come.