What's changing on 1 July?

  • Company tax rate reduces to 26% for base rate entities

  • $150k instant asset write-off scheduled to reduce back to $1,000 for small business entities and will no longer be available for entities with aggregated annual turnover of $10m or more, although accelerated depreciation rules apply to certain entities until 30 June 2021

  • Cents per km rate for work-related car expenses increase to 72 cents

  • Expected reforms to allow 66 and 67 years olds to make voluntary superannuation contributions without satisfying the work test. This reform is not yet law.

  • Age limit for making superannuation contributions to your spouse increases from 69-74. This reform is not yet law.

  • For those 67 and under, reforms will enable you to use the ‘bring forward rule’ to make up to three years of non-concessional contributions. That is, you can make non-concessional contributions of up to $300,000 from the 2020-21 financial year.

GTH COVID-19

In support of Government guidance to flatten the curve and keep our staff, clients and community safe, GTH Group has decided to move to a virtual office arrangement.

Staff are available via email, phone or video conference using Microsoft Teams, Skype or Zoom during our regular business hours, 8am-5pm.. We will have staff answering our business phone number between the hours of 8am and midday.


Client meetings will be conducted using video conferencing and we can arrange multiple staff to participate in virtual client meetings. We ask that client records are sent to our accountants electronically, via email or the document upload feature on our website. If this cannot be done please contact our office to arrange a time to drop off your documents.

GTH Group is fully committed to servicing our clients in these difficult times.

Bushfire relief from ATO obligations

The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes.

Taxpayers can also call the ATO directly to request further assistance, such as:

  • Requesting extra time to manage tax debt or lodgements

  • Help finding lost documentation such as Tax File Numbers

  • Reconstructing tax documentation

  • Fast tracking refunds, interest free periods

  • Remittance of penalties or interest charged during the crisis.