11/07/2025
# # 🧾 Tax Time 2025: What Small Businesses & Individuals Need to Know
Welcome to the 2025 financial year! Whether you're a sole trader, small business owner, or individual taxpayer, these updates could impact your tax position.
# # # 🔹 Super Guarantee Boost
The Super Guarantee rate has increased to **12%** from 1 July 2025. Employers must apply this rate to all salary and wage payments made on or after 1 July
# # # 🔹 Instant Asset Write-Off Extension
Small businesses can continue to claim immediate deductions for assets under **$20,000**. This measure supports cash flow and encourages investment.
# # # 🔹 Personal Tax Cuts Coming Soon
Though not effective this year, tax rates are changing in 2026 and 2027:
- Bottom rate reduces from **16% to 15%** in 2026, and to **14%** in 2027
- Designed to combat bracket creep and ease pressure on low- to middle-income earners
# # # 🔹 Medicare Levy Thresholds Increase
Updated for 2024–25:
- Singles: **$27,222**
- Couples: **$45,907** (+ $4,216 per dependent)
- Seniors/Pensioners benefit from higher thresholds under SAPTO
# # # 🔹 ATO Compliance Focus Areas
The ATO is sharpening its lens on:
- **Rental income declarations**
- **Division 7A loan arrangements**
- **Foreign resident property disposals**
Make sure your records are accurate and up-to-date.
# # # 🔹 SMSF & Retirement Planning
The **Transfer Balance Cap** increases to **$2 million** from 1 July 2025 — opening doors to greater retirement income strategies and super contributions.
# # # ✅ Leopard Accounting Tip
Lodging early isn’t always better — waiting for pre-fill data reduces errors and amendment risks. Let a registered tax agent guide you through the process for a stress-free experience.
# # # 📣 Need Support This Tax Season?
Whether you're reviewing your business structure, thinking to set up your own Self managed super fund or finalising your return — **Leopard Accounting is here to help**.
👉 **[Contact Us Today](https://www.leopardaccounting.com.au/contact)**
