09/03/2023

Welcome back to our Weekly Digest. Read on for the latest updates in tax, accounting and the economy.

Affordable rent is becoming rarer and rarer

The number of properties listed for rent for less than $400 per week has almost halved over the last year, with Hobart and Darwin the exceptions.

Beginning March 20, more than 4.7 million Australians will receive a cash boost to their social security payments to help them cope with the soaring cost of living.

National Party leader David Littleproud says that raising the tax rate on superannuation balances above $3 million will affect “many mum and dad businesses, ” hoping to sell up for retirement. However, Federal Treasurer Jim Chalmers reiterated, “99.5% of Australians with super accounts will continue to receive the same rate.”

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We are currently working through the February 2023 IAS.
They are due for lodgement by 21 March 2023.