Taxwise Business News - September 2025
Download the full TaxWise News Business September 2025
The September 2025 edition of TaxWise Business News highlights key 2025–26 updates for individuals, sole traders, partnerships, trusts and SMSF trustees, including unchanged car and WFH rates, reduced Division 7A interest, higher CGT improvement threshold, revised reasonable meal allowances, and a lower 4% GDP adjustment for GST/PAYG instalments.
It covers the reversion of the instant asset write-off to $1,000 from 1 July 2025 with a proposal (not yet law) to lift it to $20,000, plus how second‑element costs are affected. You’ll find Medicare levy surcharge and PHI rebate income tiers, major HELP reforms with a one‑off 20% debt reduction and simplified repayment rates from a $67,000 threshold. Super and ETP settings are updated, including a $2.0m transfer balance cap, new co‑contribution thresholds, redundancy tax‑free limits, and minimum pension drawdowns by age. Practical guides cover lodging 2024–25 returns, losses, PSI rules, car and WFH deductions, rental interest apportionment, main residence exemption tips, and compliance focus areas like Operation Protego. SMSF trustees get audit readiness pointers on ownership evidence, asset separation, bank account security, and ATO notification obligations, plus a handy calendar of key lodgment and payment dates.