All of the latest tax news, views and clues for June 2025.
This Alert addresses:
- Tax and your child’s money: what parents need to know – If your child has a savings account or receives other income, you need to know how to help them manage their finances and meet their tax obligations.
- Working out your WFH expenses this tax time – Remember, to be eligible to claim WFH expenses, you need to be genuinely working from home to fulfil your employment duties, not just checking emails or taking occasional calls.
- Instant asset write-off extended to 30 June 2025 – The instant asset write-off enables eligible businesses to claim an immediate $20,000 deduction for the business portion of the cost of an asset in the year it is first used or installed ready for use.
- Playing music in your business? Get your licensing sorted – Most music is legally protected by copyright, meaning businesses need permission or a licence to play it in public settings.
- ATO warns about misinformation on super changes circulating online – Are you worried about rumours claiming your super preservation age will change from 1 June 2025? The ATO has confirmed these claims are false.
Important: This is not advice. Clients should not act solely on the basis of the material contained in this Tax Alert. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas. The Tax Alert is issued as a helpful guide to clients and for their private information. Articles in the Tax Alert are not to be republished or reproduced for further distribution without requesting permission from HLB Mann Judd. Therefore it should be regarded as confidential and not be made available to any person without our prior approval.