Latest Blogs
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...
GST Registration Cancellation Rules and Requirements
When Can You Cancel Your GST Registration? You or your registered BAS or tax agent can cancel your GST registration within 21 days of: Closing or selling your business Changing your business structure – this includes changing from a partnership to a company, unless...
Understanding Reportable Fringe Benefits for Employees
What are Reportable Fringe Benefits? If you receive fringe benefits with a total taxable value of above $2,000 in a fringe benefits tax (FBT) year (1 April to 31 March), your employer will report this amount to the ATO. Some benefits don’t have to be reported to the...
Tips for Handling Unexpected Expenses with an Accountant
Running a business comes with various opportunities and surprises. These surprises bring unexpected expenses that can shake the most carefully balanced budgets. Whether it’s unforeseen regulatory changes, sudden equipment failure, or urgent staffing requirements,...
How Can You Reduce Your FBT Liability?
In this blog post, we’ll discuss how you can reduce your FBT liability using alternatives to fully fringe benefits or offering concessional benefits. Providing benefits eligible for employee deduction You don’t incur a fringe benefits tax (FBT) liability if you...
Practical Tips to Prepare for an ATO Audit or Review
No one likes sudden surprises when it comes to tax matters. If you are running a small business, especially with staff, the thought of an ATO audit can be a bit stressful. Proper audit preparation requires businesses to maintain organised and clear financial records,...
The Real Financial Benefits of Hiring Accountant
Small businesses have to compete with much larger and more established companies. This can make them more vulnerable to losing their hard-earned money, as they don’t have the same level of infrastructure or staff that established organisations do. This is why small...
Smartest Financial Planning Questions to Ask Your Accountant
Whether you are a startup or running a large organisation, it is essential to daily check your company’s financial status, assess your business expenses, and make logical estimations and decisions that will positively impact your business growth. Professional...
Using Business Money for Personal Use: What You Must Report
You are required to report money and assets taken from your trust or company as income on your tax return. You will understand how money taken out of your business, or using business assets for personal use, must be reported and recorded for tax purposes. It applies...
Has Your Small Business Outgrown DIY Accounting?
Startup businesses often start recording financial transactions using simple spreadsheets and DIY bookkeeping. In the starting stage, monitoring and recording transactions feels manageable, and managing the basics yourself can save money. However, when your business...
From BAS Error to Compliance: A Business Owner’s Guide
Did you know that there are many business owners who make BAS mistakes? BAS mistakes not only cost them money but can also put their business at risk. A Business Activity Statement (BAS) is a report that business owners need to file with the Australian Taxation Office...