Latest Blogs
Do You Want To Claim The Tax-Free Threshold From This Payer?
What is a tax-free threshold? The tax-free threshold refers to the income amount you earn before paying tax. Most Australian residents are liable to claim a tax-free threshold on the first $18,200 of the income they earn in the income year. By claiming the tax-free...
What Expenses Can I Claim As A Sole Trader?
In this blog, we’ll discuss how you can claim running and occupancy expenses for the business use area of your home as a sole trader or partnership. Work out if your home has a ‘place of business’ You can claim the business portion of your running expenses and...
Essential Tax Responsibilities for Australian Business Owners
One of the most crucial but challenging tasks of being a small business owner is staying on top of the business’s tax obligations. While most entrepreneurs in Melbourne seek help from the most trusted accounting firm Port Melbourne to manage their tax matters, it’s...
How to Stay Tax-Ready All Year Round?
Many business owners are too dedicated to focusing on their day-to-day operations of running their business successfully that they often leave their end-of-financial-year tax planning to the last minute. This can make it difficult for them to meet compliance...
Employer Super Obligations Checklist
Meeting your super obligations as an employer ensures that you contribute towards the financial future of your workers. You need to pay super guarantee (SG) on time, at the correct rate and to the right fund. Super Guarantee Eligibility Generally, all workers qualify...
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...