The Kelly+Partners Post - Issue 5 - July 2024

In issue 5 of The Kelly+Partners Post, Louise Cordina offers her insights on leading The Cordina Group, a fourth-generation poultry empire. She shares valuable lessons on the importance of differentiation, innovation through adversity, effective family business management, strategic succession planning and more. We also provide practical tools and tips to enhance your well-being, productivity, and health while working from home, courtesy of our friends at EQ Minds. Additionally, we recap the highlights from the Australian Federal Budget, offer tips for investment portfolio diversification, and share timeless wisdom from the king of advertising, David Ogilvy, plus much more.

ISSUE 5

KEY TAKEAWAYS

FROM THE AUSTRALIAN FEDERAL

BUDGET 2024-2025

Page 9

BE BETTER OFF SHOW

In this edition of the Be Better Off

Show, join us as host Brett Kelly

and the Kelly+Partners Tax team,

Tony Nunes and Lishi Huang,

unpack the key takeaways for

your personal, business and

private wealth finances.

Changes to individual

tax rates

These changes give a break

to low and middle-income

earners by lowering the tax

on their income.

Small business instant

asset write-of

Extension of the $20,000

instant asset write-of

scheme for businesses

with a turnover of less than

$10 million.

Further support for the

ATO tax compliance

program

Continuation of several

successful ATO tax

compliance programs. 

Changes to the CGT

regime for non-

residents

Non-residents that have

CGT gains on shares

exceeding $20 million have

to notify the ATO. 

Increased scrutiny on

royalties paid to non-

residents

Significant Global Entities that

have mischaracterised or

undervalued royalty payments

may be subject to penalties. 

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