News
Common Sense Prevails in Super Tax Revisions
Breaking news out of Canberra the Federal Treasurer has announced several significant amendments to the proposed tax on superannuation
balances over $3 million.
In what many are calling a common-sense adjustment, the government has confirmed:
Accessing superannuation funds for medical treatment or financial hardship
Superannuation is one of the largest assets for many Australians and offers significant tax advantages, however, strict rules apply to when it can be accessed. While super is most commonly accessed at retirement, death or disability, there are limited situations where earlier access may be possible.
ATO Interest Charges Are No Longer Deductible – What You Can Do
Leaving debts outstanding with the ATO is now more expensive for many taxpayers. General interest charge (GIC) and shortfall interest charge (SIC) imposed by the ATO is no longer tax-deductible from 1 July 2025. This applies regardless of whether the underlying tax debt relates to past or future income years.
ASIC has issued a warning about a surge in scam emails impersonating ASIC
ASIC has issued a warning about a surge in scam emails impersonating ASIC and targeting Registry customers. These fraudulent emails attempt to trick individuals and businesses into handing over personal information and paying fees.
Congratulations, Kurt – Our Newest Qualified Financial Adviser
We’re thrilled to celebrate Kurt Resch who has officially earned his credentials as a licensed financial adviser. Kurt’s achievement represents years of dedication, study, and hands-on experience—and we couldn’t be prouder to have him on the Forsyths team.
A win for those carrying student debt
In support of young Australians and in response to the rising cost of living, the Australian Government has passed legislation to reduce student loan debt by 20% and change the way that loan repayments are determined.
Superannuation guarantee: due dates and considerations for employees and employers
On 1 July 2025 the superannuation guarantee rate increased to 12% which is the final stage of a series of previously legislated increases.
Finalist in the Outstanding Employee category
At Forsyths, we’re passionate about recognising the incredible people who shape our culture and drive our success. This month, we’re thrilled to celebrate Diane (Di) McLeod who has been named a Finalist in the Outstanding Employee category at the Tamworth Business Chamber Quality Business Awards.
Disaster Recovery Assistance – What Support is Available?
With the recent weather events and flooding across the region, it’s important to keep updated with the recovery assistance and funding available through the NSW Rural Assistance Authority (RAA).
Interest deductions: risks and opportunities
This tax season, we’ve seen a surge in questions about whether interest on a loan can be claimed as a tax deduction. It’s a great question as the way interest expenses are treated can significantly affect your overall tax position. However, the rules aren’t always straightforward. Here’s what you need to know.
Luxury cars: the impact of the modified tax rules
With the purchasing of luxury vehicles on the rise it’s important to be aware of some specific features of the tax system that can impact on the real cost of purchase. Often the tax rules provide taxpayers with a worse tax outcome if the car will be used for business or other income producing purposes compared with a non-luxury car, but this depends on the situation.
Staying One Step Ahead: Cyber Security & Fraud Protection Seminar
In today’s fast-paced digital world, cybercrime and fraud are becoming some of the greatest threats to small and medium-sized
businesses and protecting your data, finances and reputation has never been more critical.
In July, Forsyths partnered with Cloudwize, Sophos and Westpac delivered an exclusive Cyber Security & Fraud Protection Seminar at our
Tamworth office.
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