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Category: Blog

LCT Compliance: How to Safeguard Your Business from Luxury Car Tax Errors

The Luxury Car Tax (LCT) is an Australian tax applied to vehicles exceeding specific value thresholds. 

As of the 2024–25 financial year, LCT is levied at 33% on the GST-inclusive value of a car exceeding $80,567, or $91,387 for fuel-efficient vehicles with a combined fuel consumption not exceeding seven litres per 100 kilometres.

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Improving Day-to-Day Business Operations in the New Year

The start of a new year is the perfect time for businesses to reflect on their daily operations and identify areas for improvement. 

Small, consistent changes to how tasks are handled can have a significant impact on productivity, profitability, and employee satisfaction. 

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Why You Shouldn’t Dip Into Your SMSF for Christmas

The festive season is a time of joy and giving, but it can also bring financial stress. 

With the added pressure of bills and buying presents, some SMSF (Self-Managed Super Fund) members may consider accessing their superannuation early to ease the strain. While this might seem like a quick fix, dipping into your SMSF outside of strict legal conditions is not only prohibited but can lead to severe financial and legal consequences.

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