Over the past couple of weeks we have been blogging about the new financial year changes. Not everything changes though.
There are a range of thresholds that did not increase on July 1, 2019.
Some prominent ones include:
- The concessional contributions cap
- The non-concessional contributions cap
- The general transfer balance cap
- The rate of SG
- The rate of social security pensions
- Low Income Tax Offset
- Low and Medium Income Tax Offset (although the 2019/20 federal budget proposals may see different rates applied in 2018/19 and beyond)
- The basic daily care fees for residential aged care
The information contained in this publication is based on the understanding KeyInvest (ABN 74 087 649 474 AFSL No. 240667) has of the relevant Australian legislation as at the date shown in this publication.
The information contained in this publication is of a general nature only and is intended for use by financial advisers and other licensed professionals only. It must not be handed to clients for their keeping nor can any copies of sections of this publication be given to clients. KeyInvest is not a registered tax agent under the Tax Agent Services Act 2009. We recommend that your client be referred to their registered tax agent or legal adviser prior to implementing any recommendations that you may make based on the information contained in this publication.