Research by Mindshop has revealed the top 5 tips leaders would give others for leveraging AI and innovative technologies in leadership for 2025 and beyond:
1. Start Small, Experiment, and Stay Curious
Leaders emphasise starting with manageable use cases to build confidence. This practical approach allows organisations to learn and adapt as they develop AI capabilities.
2. Use AI as a Tool for Augmentation, Not Replacement
AI should be used to complement human efforts by automating routine tasks, improving workflows, and enhancing strategic decision-making. This collaborative approach yields better results than replacement strategies.
3. Be Open-Minded and Embrace Change
Adopt a forward-thinking mindset. Embrace the potential of AI and other technologies to differentiate yourself, improve processes, and gain insights, but remain adaptable to evolving tools and methodologies.
4. Have a Clear Strategy and Understand the Impact of AI
Develop a well-defined plan for how AI and emerging technologies align with business goals. Organisations seeing the greatest benefits connect their AI initiatives directly to strategic objectives.
5. Invest in Skills Development and Staff Training
Leaders stressed the importance of building knowledge and skills around AI usage, including training teams on how to effectively use and prompt AI systems. This investment consistently delivers stronger returns.
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Disclaimer: This article summarises research conducted by Mindshop and provides general information about artificial intelligence trends. It is not intended as specific advice for your organisation. AI capabilities, regulations, and best practices continue to evolve rapidly. Please consult with qualified professionals regarding implementation strategies appropriate for your specific circumstances and requirements.
We’re excited to announce that Remi Dhooghe has accepted a position to stay on with Harris Black as an Undergraduate Accountant following the completion of our three-week undergraduate program.
Remi quickly impressed the team with his enthusiasm, eagerness to learn, and strong work ethic. We’re thrilled to have him on board and look forward to supporting his continued growth in the profession.
We’re delighted to introduce Ann Ferrier, our dedicated Administration Assistant who supports the Harris Black team with warmth, precision, and professionalism.
Ann joins us with prior experience at one of our Brentnalls affiliates, Cogger Gurry, and has recently relocated from Victoria to Brisbane. Her familiarity with the Brentnalls network has made her a great fit for our team from day one.
Ann has a strong appreciation for food and a love of cooking. Her ideal meal is Thai cuisine -particularly pad see ew – and at home, she enjoys preparing comforting favourites such as butter chicken, chicken noodle soup, and marinated lamb chops. Her beverage of choice for a relaxing break is a soothing Earl Grey milk tea.
Outside the office, Ann’s interests span both the creative and the active. She enjoys drawing, video games, and mystery novels, and finds peace in rowing – especially out on the water. With a background in agriculture, she brings unique knowledge to the team and could easily deliver an impromptu presentation on cattle farming.
Originally from Leeton, NSW, Ann recently relocated to Brisbane and is looking forward to welcoming her parents, who will be visiting soon.
Her ideal dinner guests would include her mother, Michael Jackson, her partner, and her cat. And if she could choose any superpower, she’d pause time – mainly to sneak in a little more rest.
Ann’s attention to detail, quiet confidence, and approachable nature make her a valued member of the Harris Black team.
Lodge 2024 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups) and are not eligible for the 5 June concession.
21 May 2025
Lodge and pay April 2025 monthly business activity statement.
Final date to add new FBT clients to your client list to ensure they receive the lodgment and payment concessions for their fringe benefits tax returns.
26 May 2025
Lodge and pay eligible quarter 3, 2024–25 activity statements if you or your client have elected to receive and lodge electronically.
28 May 2025
Lodge and pay quarter 3, 2024–25 Superannuation guarantee charge statement if the employer did not pay enough contributions on time.
The Government will deliver more tax cuts to all Australian taxpayers, with additional tax cuts in 2026 and 2027.
From 1 July 2026, the 16 per cent tax rate, which applies to taxable income between $18,201-$45,000 will reduce to 15%.
From July 2027 this rate will be reduced further to 14 per cent.
The tax saving from the tax cuts represents a maximum of $268 in the year 2026/2027 and $536 from the 2027/2028 year.
Current Tax Rates (20-24/25)
Redesigned Tax Rates – From 1 July 2026
Redesigned Tax Rates – From 1 July 2027
Medicare Levy Changes
The Government will also increase the Medicare levy low-income threshold by 4.7% for singles, families and seniors and pensioners from 1 July 2024. This change will mean over one million Australians on lower incomes will continue to be exempt from paying the Medicare Levy of pay a reduced levy rate.
Childcare Subsidy
The Government has announced from 1 January 2026 the current activity test will be removed and three days of subsidised childcare for families with young children will be available regardless of how much they work or study. The subsidy will remain income tested.
Non Compete Clauses To Be Banned
From 2027 the Government has announced that it will ban non-compete clauses for low and middle-income employees (currently considered to be those earning less than $175,000). These clauses in employment contracts prevent or restrict employees from moving to a competitor and the removal of these clauses will allow employees to start their own business or move to alternative employment.
Two-year Ban On Foreign Ownership Of Established Homes
As announced on 16 February 2025, foreign persons will be banned from purchasing established dwellings in Australia for at least two years. This measure means that foreign persons, including temporary residents and foreign-owned companies, cannot apply to buy an established dwelling in Australia unless an exception applies (such as providing housing for workers under the Pacific Australia Labour Mobility (PALM) scheme). The ban does not apply to permanent residents, New Zealand citizens and spouses of either if buying as joint tenants.
Energy Bill Relief Fund – Extension And Expansion
To help ease cost-of-living pressures, the Government has announced a new measure where eligible households and small businesses will receive a total of $150 off their energy bills. This will be provided as two quarterly rebates of $75 each, from 1 July 2025 to 31 December 2025. Like the previous energy bill relief measures, these rebates will be automatically applied to electricity bills in quarterly instalments.
Update On Measures Previously Announced
Payday Super
Starting from 1 July 2026, as outlined in the Federal Budget 2023–24, employers will be required to make superannuation payments to their employees at the same time as their salary and wages, to prevent late paid superannuation. Draft legislation and explanatory materials on this matter were recently released for consultation on 14 March 2025.
Division 296
This proposes to impose a 15% tax on earnings from the portion of an individual’s total superannuation balance that exceeds $3 million. Despite feedback given surrounding the concerns around taxing unrealised gains, the enabling bill remains unchanged, however it has not been legislated. The previous announcement had this measure commencing on 1 July 2025. Note that Budget revenues include income from this measure therefore we expect this to be a current Government position leading into the upcoming election.
Denied deduction for GIC & SIC
A proposal to disallow deductions for general interest charge (GIC) and shortfall interest charge (SIC) was introduced in the Mid-Year Economic and Fiscal Outlook 2023–24. This is now law and any GIC & SIC deductions incurred on or after 1 July 2025 are no longer deductible for all entity types.
Student Loan Reduction
The Government is looking to reduce individual’s student loans with a one-off 20% reduction. This will apply to an individual’s balance, pre indexation, on 1 June 2025. This is yet to be legislated.
Help to Buy Program Extended
This program reduces the deposit required to buy a home by providing an equity contribution by the Government. Previously, to be eligible for the program, the income threshold for an individual was $90,000 and, for joint applicants, $120,000. As announced, these thresholds will increase to $100,000 and $160,000, respectively.
$20,000 Instant Asset Write-off
The Government has reaffirmed its commitment to extend the $20,000 instant asset write-off threshold by 12 months, until 30 June 2025. This measure, initially announced in last year’s budget, was finally legislated last week. There is no announced extension of this measure for the 2025-26 financial year, therefore the threshold will reduce back down to $1,000 from 1 July 2025.
As part of our commitment to keeping you informed about important tax developments, we want to highlight a significant proposed change to the deductibility of interest charges applied by the Australian Taxation Office (ATO) on tax liabilities.
What’s Changing?
It is proposed that starting from 1 July 2025, taxpayers will no longer be able to claim tax deductions for General Interest Charges (GIC) and Shortfall Interest Charges (SIC) imposed by the ATO. These charges would be applied to late payments and underpaid tax liabilities. Historically, these interest charges have been tax-deductible, providing some relief to taxpayers when managing their tax debts.
Why the Change?
This proposed legislative amendment, introduced as part of the Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024 aims to enhance tax compliance by increasing the cost of not paying tax liabilities by the due date.
What Should You Do?
In preparation for the potential implementation of these changes, we recommend considering the following actions:
Settling Outstanding Tax Debts Before 1 July 2025.
Reviewing Payment Plans extending past 1 July 2025 and recalculating the expected cost of this debt without the associated interest deduction.
Forecast future expected tax liabilities to ensure cash flow is available to pay these liabilities as and when they fall due.
If you have any questions or would like to discuss how these proposed changes may impact you if passed, please don’t hesitate to reach out to your Harris Black team member.
How can we help you?
Today’s financial environment demands a regular review of strategy and a focus on execution.
