Tax Tips
REVISED TAX CUTS BILL PASSES BOTH HOUSES

The bill to implement the Labor Government's revised tax cuts has now passed both houses of parliament.  The revised tax meaures include the following which will apply from 1 July 2024:

- Reduce the 19% tax rate to 16%;

- Reduce the 32.5% tax rate to 30% for incomes between $45,000 and a new $135,000 threshold;

- Increase the threshold at which the 37% tax rate applies from $120,000 to $135,000; and

- Increase the threshold at which the 45% tax rate applies from $180,000 to $190,000.


The Medicare Levy low-income thresholds for the 2024 income year will also be increased.


Testimonials

TESTIMONIALS

"Roy and his team have grown with Casella Family Brands and provide invaluable advice in assisting with our business success. We have relied on his expertise in consulting, advisory and taxation services to support all our needs. His team of skilled professionals has made sure that all of our companies are covered for taxation and statutory matters."
– John Casella

"We have been client of Roy Spagnolo & Associates for over 20 years. Roy and the staff have been a valuable partner to Calabria Family Wines and has always been reliable and efficient in completing all our taxation needs."
– Bill Calabria

"Roy Spagnolo is the most knowledgeable guy I know. He is there for you 24 hours a day, 7 days a week and he will go out of his way for anyone."
– Vic Lorusso

"Roy Spagnolo & Associates have been acting on our behalf for more than a decade now. The expertise, advice and work that they have provided over this time has been world class and greatly contributed to the success of our business. I would highly recommend Roy Spagnolo & Associates to anyone looking for a blue chip accounting firm."
– Menol Najdovski

"I have been working with Roy and his team for over ten years. Roy Spagnolo's have worked tirelessly with us to ensure our continued success at Serafin Ag Pro and have always provided a very professional and an outstanding level of service. I have nothing but the highest of praise for Roy and the team and highly recommend their services."
– Darryl Serafin

"We joined Roy Spagnolo and Associates four years ago and have been extremely happy with our decision. We were extremely lucky to be allocated in an accomplished team, lead in our instance by Mark Farronato. In every instance, the team has been obliging, supportive and professional. I would not hesitate to recommend them to any business that requires a strong partnership with their accountant."
– Keith Fletcher

"Having gone to Roy for a second opinion, it was refreshing and surprising to meet an accountant that cared about my business as much as I did. Roy and his team took the time to explain strategies and legislation in plain English. I strongly recommend Roy Spagnolo & Associates to any business."
– Alex Stavrakoulis

"We would highly recommend Roy, Trent and the team at Roy Spagnolo and Associates. They have been our trusted accountants since starting our business 17 years ago. Their service has always been exceptional, providing prompt replies to all our queries and explaining financial matters in terms we understand."
- Rossetto Farmcare

"The Billabong Bottleshop is proud to be a client of Roy Spagnolo & Associates. Roy and his valuable team have provided professional service towards all our business taxation needs."
- Steve Foschi - Manager

"Roy Spagnolo & Associates have been my accountants for more than 17 years. I cannot recommend Roy and all the staff highly enough. Friendly, courteous service is what you can expect every time. Simon Dickie is a most professional and knowledgeable adviser to my business, no question is too big or small."
- Greg Geltch

"Since taking over the family business in 2012, Roy, Mark and the team have helped us grow from small backyard pool builders into the large commercial building company we are today. They helped set up our business structures and continue to assist us with all our taxation needs. We would recommend Roy Spagnolo & Associates to anyone whether they are starting out or are already an established business."
- Mark McLean

"We consider Roy, Adrian and the team as family. They have played such a valuable role in building our business and giving us the confidence to grow bigger without the stress. Their expert opinions and advice reflects highly on their knowledge and expertise and always delivered proficiently."
- Joshua Vearing, Director Riverina Outbuild

"Roy and his team acknowledge that their clients are more than just numbers."
– Karl Stefanovic

"We have an international business and Roy and his team make it stress free. Nothing is ever too hard."
– Jasmine Stefanovic

 "It just makes sense to be with Roy!"
– Peter Stefanovic

"Roy and the team are committed to delivering the best possible service to their clients...and they never fail."
– Sylvia Jeffreys

"Roy and Mark are the best in the business.  Professional, committed and have genuine care for their clients.  Their guidance and personal approach has helped me immensely through my career.  I am profoundly grateful for their service."
– Jade Yarbrough

"I like their big city services at country prices."
– Cameron Williams

 "Roy Spagnolo and his team are trustworthy and reliable. That's why they are my chosen accountants."
– Mark Wilson

"Their expertise means tax time is always smooth for me."
– Ed Phillips

 "Mutual commitment, integrity and trust...I like that."
– Lauren Phillips

"Roy and his team really care about they work they do, and have gone above and beyond in helping and advising me with all my financial needs."
– Simon Pryce

"As a start up business there is a lot of unknowns, but with the advice, guidance and support from Roy and his team I feel confident that I am well on the way to making a success of it."
– Lauren Hannaford

"No matter what challenge I throw at Roy and his team, they always come out on top."
– Kris Smith

"On or off the catwalk Roy's team make me feel special."
– Laura Dundovic

"Roy and the team make tax time seamlessly simple.  They are a true blessing."
– Natalie Roser

 "Roy and his team are an absolute pleasure to work with.  I felt very well looked after from the very first call.  Caring, personal and professional.  I immediately felt at ease and in safe, trusting hands.  Considerate, present and accomodating, I would look no further."
- Courtney Allen

 "Roy and his team are just incredible!  They make the process of financial management super easy and give me so much confidence in my entertainment industry career."
- Daria Varlamova, Model, Activist and Miss Universe Australia 2021

 "Working with Roy and the team has been a game-changer. Their expertise, reliability and personalised approach make them an invaluable asset. Simply the best in the business, I highly recommend!"
- Sierra Johnson

 "I didn't know much about taxes before I met Roy & Adrian but since working with them I can thankfully say I know a lot more now and I'm super appreciative of how helpful and supportive they've been, love working with them."
- Lakota Johnson

 "We love working with Roy and his team, not only are they all lovely but they are highly professional and warm to deal with!  They have helped us a lot with setting up our company and kindly guided us through the entire process.  The team is always available when we need them, and we are very grateful.  Thank you so much Roy and the team!"
- Darcy Spinks and Petra Konyit, founders of Two Evolve and Ambition The Label

 "I'm no financial expert, so I go to someone who is. There is no problem too big for Roy & his team, they've got you!"
- Michael Brown, Michael Brown Beauty 

"Caring, personal & professional - the best in the universe."
– Jesinta Franklin

"It's always a pleasure working with Roy and the team. They are professional, friendly and service is always with a smile"
– Lance 'Buddy' Franklin

"I know I'm in good hands with Roy Spagnolo & Associates."
– James Tedesco

"I can always count on Roy to look after me off the field."
– Jack Wighton

"Roy and Mark are personable and professional when it comes to finance management. They have well exceeded my expectations." 
– Cameron Murray

"Roy, Mark and his team are super friendly, easy to talk to and have been great to deal with in sorting out my financial needs."
– Lachlan Ilias

"I needed someone I could trust in helping me with all my financial decisions and management.  Mark and his team have been nothing short of amazing and I am looking forward to working with them in the future"
– Keaon Koloamatangi

"Roy and Mark made me feel welcomed from the first meeting and I trust in them to help me with all my financial needs."
– Hame Sele

"I have great trust in Roy and Mark to manage my finances and assist me in the future."
– Liam Knight

"Ever since I have joined Roy and Mark I can honestly say they have taken so much stress out of my life. They have helped me with some huge decisions in my life and now I don’t just consider them work colleagues but I consider them mates."
– Josh Reynolds

"Roy and his team have gone above and beyond to ensure my finances are well managed. From day to day banking to advice on real estate and wealth management, I know I will always have Roy and Mark in my corner."
– Mitchell Pearce

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