$20,000 Tax Deduction: A Win for Small Businesses

Small businesses are set to benefit from a new tax policy proposed by the Opposition ahead of the 2025 election. The initiative introduces a $20,000 tax deduction for business-related meal and entertainment expenses, offering much-needed support for small enterprises and the hospitality sector. This policy, spearheaded by the Dutton Coalition, will apply to businesses with […]

Understanding Division 7A: Exploring Tax Implications and Recent Changes

What is Division 7A? Division 7A is a provision within the Australian tax legislation designed to prevent private companies from making tax-free distributions of profits to shareholders and their associates. Essentially, Division 7A ensures that such distributions are either taxed as dividends or treated as loans that must be repaid under certain conditions.   What’s […]

The 2024-25 Australian Federal Budget

The Treasurer forecasts a 0.75% reduction in inflation due to the 2024-25 Federal Budget initiatives, which include energy relief for households, increased Commonwealth Rent Assistance, and a freeze on the maximum co-payment for the Pharmaceutical Benefits Scheme. This pre-election budget aims to provide broad relief from cost of living pressures. If the Consumer Price Index […]

Welcome to Xcel Advisory

Welcome to Xcel Advisory – It’s with immense gratitude and excitement that we finally unveil our new brand. From the depths of bookkeeping intricacies to the heights of strategic business risk management, our team has meticulously honed our skills to serve your business better. So, with humility and a deep sense of purpose, we extend […]