Allan Hall/Big Hill Beach Cottages team 2022

SurfAid Cup Manly 2023

Allan Hall hangs ten for SurfAid on 27 October

The anticipation is building as the Allan Hall Business Advisors surfing squad  — alongside our very good friends at Big Hill Beach Cottages in Crescent Head —prepare to hit the surf and compete in the annual SurfAid Cup contest at Manly in October. 

Our team will be surfing together again with the goal of doing us proud and taking out the championship.

Taking place at Manly Beach on Friday 27 October 2023, the SurfAid Cup raises funds for SurfAid’s Mother and Child Health Programmes. With your support, we can give families the best chance of getting ahead by providing access to healthcare, clean water and sanitation and improved nutrition.

SurfAid is a non-profit humanitarian organisation that works alongside some of the world’s most isolated and vulnerable communities to bring about positive and sustainable health and well-being changes. The organisation is dedicated to enriching lives and increasing people’s choices and possibilities for realising their potential.

The organisation relies on donations to continue improving the health, well-being and resilience of remote communities throughout the world. To find out more about SurfAid and its work, please click here.

Giving is an important part of who we are and how Allan Hall Business Advisors operates. We recognise the importance of a strong local economy that’s positive and cohesive, where people strive to help each other. Each year, SurfAid Cup Manly is a priority on the Allan Hall calendar and is an event we’re now renowned for — for being fierce competitors no matter what Mother Nature throws at us. Allan Hall Business Advisors has been taking part as SurfAid Cup competitors since 2013 and has helped fundraise over $60k to date. We hope you can help us.

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Medical and Health

Income thresholds changes to the private health insurance rebate

Changes to income thresholds

The income thresholds used to calculate the private health insurance rebate will increase from 1 July 2023.

Before this date, the threshold had remained unchanged for eight years and had remained at the 2014–15 levels during this period. This means that some individuals and families who were previously ineligible for the rebate may now be eligible, while others who were eligible may now be ineligible.

Rebate Percentage Rates

Understanding the income threshold and rebate percentage rate for the private health insurance rebate is essential for determining your entitlement.

To determine your rebate entitlement, you can use the Private Health Insurance Rebate Calculator available on the Australian Government’s Private Health Insurance Rebate webpage.

Remember, your family status on the last day of the income year (30 June) determines whether the single or family income thresholds apply to you. If you were single on 30 June but had dependent children, you are considered a family and will be income tested using the family income thresholds.

2023–24 Income thresholds

Family statusBase tierTier 1Tier 2Tier 3
Single$93,000 or less$93,001 – $108,000$108,001 – $144,000$144,001 or more
Family$186,000 or less$186,001 – $216,000$216,001 – $288,000$288,001 or more

Overall, these income thresholds play a significant role in determining the amount of tax an individual or family will be required to pay each financial year. It is important to stay informed about these thresholds to ensure that you are meeting your tax obligations and avoiding any penalties. If you have any questions or concerns about your tax obligations, it is recommended that you seek advice from a qualified tax professional.

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medicare

Medicare levy surcharge income threshold and rates 2023–24

Medicare levy surcharge income threshold and rates 2023–24

Income thresholds for the Medicare levy surcharge are changing

The income thresholds for Medicare levy surcharge purposes will increase from 1 July 2023.

The government recently announced changes to the income thresholds for the Medicare Levy Surcharge (MLS), which will take effect from 1 July 2023. The MLS is a tax that is applied to individuals and families who do not have an appropriate level of private hospital cover, and earn above a certain income threshold.

So, what exactly are these changes to the MLS income thresholds?

From 1 July 2023, the income thresholds for MLS purposes will increase, which means that more people will be exempt from the tax. The income thresholds and MLS rates for the 2023-24 income year are outlined below.

MLS Income threshold and rates 2023–24

ThresholdBase tierTier 1Tier 2Tier 3
Single threshold$93,000 or less$93,001 – $108,000$108,001 – $144,000$144,001 or more
Family threshold$186,000 or less$186,001 – $216,000$216,001 – $288,000$288,001 or more
Medicare levy surcharge0%1%1.25%1.5%

It’s important to note that if you have dependent children, the family income threshold will be increased by $1,500 for each MLS dependent child after the first child. To work out which MLS rate applies to you, you can use the MLS income threshold table above once you have determined your income for MLS purposes.

It’s also worth noting that the MLS is separate from the Medicare Levy, which is a tax that is used to fund the public health system. The Medicare Levy is a flat rate of 2% of your taxable income, and it is paid by most Australian taxpayers.

Overall, these income thresholds play a significant role in determining the amount of tax an individual or family will be required to pay each financial year. It is important to stay informed about these thresholds to ensure that you are meeting your tax obligations and avoiding any penalties. If you have any questions or concerns about your tax obligations, it is recommended that you seek advice from a qualified tax professional.

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Stethoscope

Increase to CSHC income test legislated

Cheaper healthcare more accessible for eligible self-funded retirees

Key points

  • Recent legislation will increase the Commonwealth Seniors Health Card (CSHC) income test thresholds
  • Income test limit thresholds will increase to $90,000 for a single person and $144,000 for couples (combined)
  • The CSHC provides access to valuable health concessions for older Australians.

The CSHC is a concession card that provides access to cheaper healthcare and other discounts and can be valuable in reducing the cost of living for self-funded retirees. Generally, the CSHC is accessible by persons of Age Pension age but who are not eligible for the Age Pension due to either the assets test or income test. 

The CSHC is valid for 12 months and is reissued on 1 August each year provided eligibility requirements continue to be met. The eligibility test for the CSHC is different to the Age pension in that it does not have an assets test. The Services Australia webpage identifies the criteria to get a CHSC card.

Retirees who have a partner must provide details of their partner’s income in the application as they will be assessed as a couple.

The incoming increase in income test thresholds is a material increase which the Government expects will lead to more than 44,000 additional self-funded retirees being able to access the CHSC card in the first year, increasing to 50,000 by 2026-27.

What income counts?

To meet the CSHC income test currently a retiree must earn no more than $61,284 a year for a single person and $98,054 a year for couples (combined).

  • The CSHC income test is based on adjusted taxable income (ATI), usually evidenced by the tax notice of assessment plus any other income documents required to determine the person’s ATI
  • The reference tax year used is typically the tax year immediately preceding the current tax year, except if an individual has not received their notice of assessment for that year, then the tax year immediately preceding will be used
  • For couples, both individuals must use the same tax year. 

An individual’s ATI includes a range of criteria which can be reviewed here.

What are the benefits?

The main benefit of the CSHC is that it provides access to the following valuable health concessions:

  • cheaper medicine under the Pharmaceutical Benefits Scheme (PBS)
  • bulk billed doctor visits 
  • a refund for medical costs when the Medicare Safety Net is reached.

The value of these CSHC’s health concessions to retirees depends on their individual use of Medicare and PBS medicines.

State or territory governments and local councils may also offer additional discounts to CSHC holders on other expenses such as utility bills, rates and public transport. However, these are not as widespread or significant as those for the Pensioner Concession Card (PCC) which is provided to individuals receiving an Age Pension.

The CSHC can be applied for via the Services Australia website at https://www.servicesaustralia.gov.au/how-to-claim-commonwealth-seniors-health-card.

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Safety Work Principles COVID-19

Pandemic Leave Disaster Payments extension

Pandemic Leave Disaster Payments will be extended indefinitely

The Prime Minister has confirmed that pandemic leave payments will be extended indefinitely following this week’s National Cabinet meeting.

That’s the payment to COVID-struck workers who don’t have access to sick leave and are forced to stay home under mandatory isolation periods.

The scheme was to be turned off at the end of September 2022, despite the 5-day isolation requirement remaining in place. Sick people, “whether from COVID or from other health issues”, should stay home — and there’s a responsibility for the government to cover them financially for the appropriate period which is designated,” the Prime Minister said.

Federal and states/territories are splitting the bill. At the next meeting, the National Cabinet will look at shortening the isolation period, with the Prime Minister noting other nations are “gradually moving towards COVID being treated like other health issues.”

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SurfAid Cup Manly 2022

SurfAid Cup Manly 2022

Allan Hall hangs ten for SurfAid on 11 November

The anticipation is building as the Allan Hall Business Advisors surfing squad  — alongside our very good friends at Big Hill Beach Cottages in Crescent Head —prepare to hit the surf and compete in the annual SurfAid Cup contest at Manly in November. 

Our team of Greg Anderson, Jake Somerville, and Rob and Billy Bain will be surfing together again with the goal of doing us proud and taking out the championship.

Taking place at Manly Beach on Friday 11 November 2022, the SurfAid Cup raises funds for SurfAid’s Mother and Child Health Programmes. With your support, we can give families the best chance of getting ahead by providing access to healthcare, clean water and sanitation and improved nutrition.

SurfAid is a non-profit humanitarian organisation that works alongside some of the world’s most isolated and vulnerable communities to bring about positive and sustainable health and well-being changes. The organisation is dedicated to enriching lives, and increasing people’s choices and possibilities for realising their potential.

The organisation relies on donations to continue improving the health, well-being and resilience of remote communities throughout the world. To find out more about SurfAid and its work, please click here.

Giving is an important part of who we are and how Allan Hall Business Advisors operates. We recognise the importance of a strong local economy that’s positive and cohesive, where people strive to help each other. Each year, SurfAid Cup Manly is a priority on the Allan Hall calendar and is an event we’re now renowned for — for being fierce competitors no matter what Mother Nature throws at us. Allan Hall Business Advisors has been taking part as SurfAid Cup competitors since 2013 and has helped fundraise over $50k to date. We hope you can help us.

Enjoy our 2021 photo gallery here »

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super opportunity for downsizers

New income limits for the Commonwealth Seniors Health Card

Cost of living relief for older Australians

Subject to legislation coming into effect, new income limits will start from 20 September 2022.

Ministers for the Department of Social Services

More than 50,000 additional self-funded retirees will be helped to ease their cost of living pressures with the Government taking action to enable more Australians to access the Commonwealth Seniors Health Card.

Legislation introduced into Parliament will see the income thresholds raised for the Commonwealth Seniors Health Card to provide medical and pharmaceutical concessions for those who have reached age pension or veteran pension age.

Pending the passage of legislation, the income limits for the Commonwealth Seniors Health Card will increase from $57,761 to $90,000 for singles and from $92,416 to $144,000 for couples (combined).

If passed, the increases are due to take effect from 20 September 2022.

More than 44,000 newly eligible CSHC holders are expected to benefit within the first year of implementation. This is projected to increase to an additional 52,000 card holders by 2026-27.

Minister for Social Services Amanda Rishworth said the Social Services and Other Legislation Amendment (Lifting the Income Limit for the Commonwealth Seniors Heath Card) Bill will help older Australians when they needed it most.

Importantly, the new income limits will apply to both current and future cardholders and claimants, meaning all connected to the card will benefit as they will be able to earn more and still receive concessions.

Older Australians can use their Commonwealth Seniors Health Card to access cheaper medicines under the Pharmaceutical Benefits Scheme (PBS), bulk billed doctor visits (at the discretion of the provider), and the lower thresholds of the PBS and Extended Medicare safety nets.

Eligible Australians can apply for a Commonwealth Seniors Health Card on the Services Australia website.

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Allan Hall team poses at Australian Accounting Awards

Australian Accounting Awards 2022 winners

Allan Hall Business Advisors wins Wellness Program of the Year at Australian Accounting Awards

AccountantsDaily announced the Australian Accounting Awards winners at the ninth gala event in Sydney. In a record field of 652 submissions and 297 finalists in 2022, Allan Hall Business Advisors took out one of only 14 National Group awards, winning the Wellness Program of the Year. 

Wellness Program award seal
Allan Hall named 2022 Wellness Program of the Year award winners

Demonstrating how employee initiatives enrich the understanding and importance of wellness among Australia’s accounting industry was key to being acknowledged in this award category.

Allan Hall has been actively advocating health and wellness initiatives, events and activities within the business and wider community for many years, recognising that the key to success is not only supporting clients but also the people within.

This made the award win a very special one as it provides industry recognition of the emphasis the firm places on its employees and their wellbeing.

Accepting the award, Allan Hall HR Director, Janelle Parish said, “To win this particular award would be special at any time but we are extremely proud to have won it this year, to be recognised nationally for our support of staff with our wellness initiatives over such a challenging period.”

“Our firm has a fabulous, collaborative culture with Directors and Managers who are all very supportive of employee wellbeing and any wellness initiatives put forward.”

“Promoting health and wellbeing has been an essential aspect of our HR management through our ‘Thrive’ wellbeing program which follows four pillars of mind, body, spirit and work culture. Our Thrive wellbeing committee was able to adjust our approach over the past 12 months to the challenging COVID-19 climate to ensure our employees’ physical and mental wellbeing remained a major focus.”

The Australian Accounting Awards are known as the benchmark for excellence nationally as they focus on professional development and innovation, and recognise the successes of accountants, bookkeepers, partners, superannuation specialists, thought leaders, executives, as well as rising stars of tomorrow.

In his opening address, Accountants Daily editor Philip King said the Australian Accountants Awards offer a moment to pause and honour the best of the best in the profession. View the full list of winners here »

Allan Hall Business Advisors was named Australian Accounting Awards Firm of the Year in 2021.

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SurfAid Cup 2020 Allan Hall Winners

SurfAid Cup 2021

Donate now to help make a difference to this very worthy cause

The anticipation is rising as the Allan Hall Business Advisors surfing squad (alongside our good friends at the Big Hill Beach Cottages in Crescent Head), are preparing to hit the surf and participate in the annual SurfAid Cup surfing contest. 

Our 2020 winning team of Rob Bain, Greg Anderson, Jake Somerville and Billy Bain will be surfing for us again this year with a goal of doing us proud and taking out the championship.

Taking place at Manly Beach on Friday 26 November 2021, the SurfAid Cup raises funds for SurfAid’s Mother and Child Health Programmes.

SurfAid is a non-profit humanitarian organisation that works alongside some of the world’s most isolated and vulnerable communities to bring about positive and sustainable health and well-being changes.

The organisation is dedicated to enriching lives, and increasing people’s choices and possibilities for realising their potential. If you would like to find out more about SurfAid and their work, please click here.

The organisation relies on donations to continue improving the health, wellbeing and resilience of remote communities throughout the world.

On 26 November, Allan Hall with Big Hill Beach Cottages will be competing and raising funds for SurfAid. When you support our fundraising you give people in remote communities connected to us through surfing a hand up, rather than a handout.

From all of us at Allan Hall Business Advisors, we thank you for your generous support. We understand that you would be asked to donate to a lot of fundraising drives and can’t give to all, so we truly appreciate any donation you can spare to this very worthy cause, because together we will make a difference!