Australian businesses could benefit from the removal of credit card surcharges on tax payments, while property investors and households are being encouraged to rethink their financial strategies.
On Money Matters, Dr Steve Enticott of CIA Tax said the change, expected to remain in place until at least July 2027, allows businesses to earn credit card reward points without paying additional surcharges.
However, processing costs remain, potentially putting pressure on businesses to pass expenses on to consumers. Enticott also warned that the tax treatment of reward points could change in the future.
For property investors, Enticott urged a focus on future capital growth rather than negative gearing or past performance.
Properties with limited growth prospects over the next five to 10 years may warrant a reassessment, with diversification helping reduce reliance on a single asset class.
Households can also improve their finances by cancelling unused subscriptions, negotiating insurance premiums, switching to cheaper phone plans, buying essentials on sale and cooking at home instead of ordering takeaway.
For more information, visit CIA Tax
