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.
SCAN QR CODE
TO LISTEN TO
THE PODCAST