Latest Blogs
SMSF Year-End Checklist — What to Review Before 30 June
The end of the financial year is approaching fast, and now is the right time for SMSF members and trustees to re-check their fund. Taking a few things into account before 30 June can help avoid problems later and ensure you don’t miss valuable tax and contribution...
Ending Card Surcharges: What You Need To Know Before 1 October 2026
RBA to Ban Card Payment Surcharges from October 2026 The Reserve Bank of Australia (RBA) has confirmed that from 1 October 2026, businesses will no longer be allowed to charge surcharges on credit and debit card payments made through EFTPOS, Mastercard, Visa, and...
Government to Phase Out EV FBT Exemption in Three Steps
The Government has announced that the FBT concession on EVs will be progressively reduced. This change is a response to the recommendations made in the Statutory Review of the Electric Car Discount, which was released in May 2026. The change will continue to encourage...
Key 2026–27 Federal Budget Tax Reforms: What They Mean for You
The 2026-27 Federal Budget, announced on 12 May 2026, has attracted attention because it includes major proposed changes to negative gearing, discretionary trusts, and capital gains tax (CGT). These changes could impact business owners, property investors, and...
A Complete Guide to ATO Reports and Returns for Businesses
In this guide, we’ll discuss how to report your business income and ways to claim deductions, and other yearly reports or returns you may have to file. Let’s start: Income Tax Return Lodgment for Your Business You are required to file a tax return if you run a...
A Complete Guide to Claimable Business Expenses in Australia
As a business owner, you must understand what business expenses you can claim in Australia to save more on taxes. What can you claim? You can claim a tax deduction for most business expenses you incur in carrying on your business if they are related to earning your...
Business Taxes Made Simple: Your Essential ATO Checklist
As a business owner, you need to know your tax obligations. In this guide, we’ll discuss and understand tax obligations. Register Your Business ABN Registration If you are starting a new business, you may need to apply for an Australian Business Number (ABN). Not...
GST Credits Time Limit Explained
If you qualify for a GST credit, you need to claim it within the 4-year time limit for claiming GST credits. 4-year credit time limit Your eligibility for a GST credit ceases unless it is included in an assessment prior to the end of the 4-year credit time limit. The...
ABN, GST, PAYG: The Registration Guide for Businesses
It’s crucial to know about essential business registration, including ABN, GST, and PAYG. Opting for business accountants Melbourne is a great way to ensure your business meets Australian tax and compliance requirements. Registering for GST How it works: Not every...
Apportioning Expenses Between Business and Personal
If you are a business owner, you might be looking for what business expenses can be claimed as tax deductions. For this, you need to understand what deductions you are allowed to claim, what deductions you can’t claim, and how you can apportion expenses between...
2026–27 Federal Budget: Key International Measures
2026-27 Federal Budget - Strengthening the Foreign Resident CGT regime - transitional arrangements Strengthening the Foreign Resident CGT Regime As part of the 2026–27 Budget, the Government will amend tax laws to give a time-limited concession for foreign investors...
2026–27 Federal Budget: Key Changes to Fringe Benefits Tax
2026-27 Federal Budget - Electric car discount More Sustainable FBT Treatment of Electric Cars From 1 April 2029, all electric cars valued up to the fuel-efficient luxury car tax threshold will get a permanent 25% FBT discount, applied through a 15% rate in the FBT...
2026-27 Federal Budget for Companies
2026-27 Federal Budget - Loss carry back for some companies and loss refundability for small start-up companies Loss carry back From 1 July 2026, companies with global turnover under $1 billion will be able to carry back revenue tax losses and offset them against tax...
2026-27 Federal Budget for Businesses
2026-27 Federal Budget - Making tax simpler for small and medium businesses The Government will amend the tax law to streamline the tax system for small and medium-sized businesses in relation to assets and PAYG instalments as set out below: Instant asset write-off...
2026-27 Federal Budget for Individuals
2026-27 Federal Budget - Working Australians $250 Tax Offset As part of the 2026-27 Federal Budget, the Government will introduce a $250 Working Australians Tax Offset (WATO). It will offer a permanent annual tax offset for income earned by Australian workers,...
2026–27 Federal Budget: 30% Minimum Tax for Discretionary Trusts
Proposed Minimum Tax on Discretionary Trusts The Government plans to introduce a 30% minimum tax on discretionary trusts to improve the tax system and fund new worker tax cuts. From 1 July 2028, trustees of discretionary trusts will have to pay a minimum tax of 30% on...
2026-27 Federal Budget: Key Tax Reforms and Changes to Negative Gearing & Capital Gains
From 1 July 2027, negative gearing will be limited to new residential properties, and the 50% CGT discount will be replaced with cost base indexation and a 30% minimum capital gains tax. Negative Gearing Negative gearing occurs when investment income from rental...
A Guide to Claiming Motor Vehicle Expenses for Your Business
About motor vehicle expenses When claiming a deduction for motor vehicle expenses, you are required to consider: The method you use to calculate your claim for motor vehicle expenses primarily depends on the structure of your business. If you change the structure of...
Key Tax Updates: Part IVA and Fuel Excise Explained
Part IVA on property development arrangements with long-term contracts The ATO has released draft PCG 2026/D2. It explains how the ATO will approach compliance where Part IVA may apply to property development arrangements between related parties, especially those...
Government Tax Changes: Deduction Boosts, CGT Reforms, Super Advertising Ban, and TPB Updates
$1,000 Instant Tax Deduction – Exposure Draft The Australian government has released a draft bill that would create a new $1,000 standard deduction for work-related costs starting in the 2026–27 income year. This measure is meant to make it easier for Australian tax...
Ban on Superannuation Advertising Explained
Superannuation advertising ban The Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Act 2025 received Royal Assent as Act No. 12 of 2026. The Act introduces several changes across tax and superannuation laws. It simplifies how employees...
From the Regulators: Key Tax and Superannuation Updates for 2026
Fuel Tax Credit Rate Changes from 1 April 2026 The ATO has updated the fuel tax credit rates that will apply from 1 April 2026, following a temporary 60.9% reduction in fuel excise. From 1 April to 30 June 2026, the heavy vehicle road user charge will be set to 0....
Luxury Car Tax Made Simple: How to Get Your LCT Right
Several mistakes and compliance issues have been identified in Luxury Car Tax (LCT) claims. You can use the tips given in this blog to avoid making these errors and get your obligations right. Despite this, to get your obligations right, you can also reach out to the...
5 Financial Tasks You Shouldn’t DIY as a Small Business Owner
Running a business means handling many tasks, but some tasks are better left to experts. At the same time, DIY may seem like a way to reduce extra costs, but when it comes to your business finances, doing everything yourself can result in bigger problems - higher...
Do I Need A Separate TFN for My Business?
A Tax File Number is important for Australian workers. It helps ensure you pay the right amount of tax and supports you in various other government dealings. Without a Tax File Number, certain forms of business will not qualify for an ABN. In this blog post, we’ll...
Can You Claim Car Repairs On Tax?
As a small business owner, you depend on your car to travel between sites, transport equipment and supplies, and drive to client meetings. When you drive, the chance of car wear and tear increases, which means you may have to face repair bills to keep your car in an...
A Guide to Living Away From Home Allowance Fringe Benefits
What is a Living Away From Home Allowance Fringe Benefit? An allowance you pay to an employee is considered a living-away-from-home allowance (LAFHA) fringe benefit if the following conditions apply: The employee’s responsibilities require them to live away from their...
How to Vary Your PAYG Instalments: A Simple Guide
Should you vary your PAYG Instalments? Pay As You Go (PAYG) Instalments are prepayments of your income tax for the year. If your total PAYG Instalments will be more or less than your expected income tax for the year, you can change the amount you pay. If your...
What Affects Your Eligibility for Annual GST Reporting?
GST Annual Return If you are liable to file an annual GST return, you need to file and pay any amounts owing by the date mentioned on the front of the return. You need to file and pay any GST owing by that due date. If you have received an annual GST return, this is...
What Impacts Your ATO Refund Processing Time?
When Does the ATO Hold a Refund? From 1 January 2025, the ATO has the authority to hold refunds for up to 90 days where the ATO doesn’t have your financial institution details (FID). Currently, it applies to: Income tax refunds Fringe Benefits Tax refunds. If the ATO...