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Following the release of the latest Average Weekly Ordinary Time Earnings (AWOTE) index, the anticipated increase to the contribution caps from 1 July 2024 has been confirmed. Here are the changes:- The Standard Concessional Contribution cap will increase from $27,500 to $30,000.- The Non-Concession ...

PSI:· Personal Services Income (PSI) is income produced, mainly from your personal skills or efforts as an individual. Only individuals can have PSI. It can be earned directly by a sole trader, or indirectly through an entity known as a Personal Services Entity (PSE).· Income which are more ...