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🏠 Selling Property in 2025? Here's What You Need to Know! 🏠

Big changes are here regarding property sales and the Foreign Resident Capital Gains Withholding (FRCGW) regime. Starting January 1, 2025:

The withholding rate has increased to 15%.
The $750,000 property value threshold has been REMOVED. This means ALL Australian tax resident sellers MUST provide a clearance certificate from the ATO.
Why is this important? Without a clearance certificate, your buyer will be required to withhold 15% of the purchase price and pay it to the ATO.

Remember:

These changes apply to contract dates, not just settlement dates.
While the ATO aims for quick processing, certificates can take up to 28 days.

Certificates are valid for 12 months, getting one early is a good idea.

Send a message to learn more

New changes from Fairwork, if you have employees, you need to read this:

Closing Loopholes - Fair Work Ombudsman Closing Loopholes Last updated 12 April 2024There have been changes to the Fair Work Act as part of the new ‘Closing Loopholes’ laws.This section provides more information about the changes and when they start.Key pointsThe Australian Government passed new workplace laws as part of its ‘Closin...

A common problem for many small businesses, here is the ATO solution for you:

Pay your tax on time and save Tips you can use to smooth out your cash flow and ensure you're on track to pay your upcoming BAS.

Small business owner to small business owner...

https://youtu.be/GYkxYM7E2SY

Tax returns delivering lower returns due to tax offset change | 7NEWS Thousands of Australian families are reeling this tax time with many taking home $1,500 less than last financial year. Some low and middle income earners are...

From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages.

Check the link here below for more info:

How often you pay super to employees is changing From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages.

Nice day at the Xero roadshow with friends working in the same field 🤓😄

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