News

Practice Update November 2026 covers following points: ATO to continue accepting creditcards until 30 June 2027 ATO focus on omitted income, private expenses and GST Work cars: Are employers overlooking private use? ATO highlights common rental property deduction errors ATO targets promoters of early release of super schemes Incorrect claims of repairs vs capital works […]

Practice Update October 2026 covers following points: ATO focus on taxpayers who vary their PAYG instalments FBT changes for salary sacrificed work-related benefits $20,000 instant asset write-off made permanent Loss carry back is now law ATO busts common myths under the cents per kilometre method More Australians making use of downsizer contributions ATO extends data-matching […]

Practice Update September 2026 covers following points: Deductions for rental properties that double as holiday homes ATO alert: $21 billion in lost super Tips for meeting the Payday Super timeframe ASIC launches new digital hub for small business directors ATO motor vehicle registries datamatching program Payday Super and independent contractors $1,000 standard deduction for work […]

Practice Update August 2026 covers following points: Government to permanently extend $20,000 instant asset write-off Government to re-introduce loss carry back for companies ATO warning on home occupancy expense claims ATO warning on property manager reports Division 7A benchmark interest rate ATO electoral roll data-matching program New restrictions on LRBAs ATO scam warning Click here […]

Practice Update July 2026 covers following points: Government’s tax reform package Changes to car thresholds from 1 July 2026 Check for ATO-held super ATO app alerts and super verification What’s new for Small Business? Fuel excise relief extended for July Dental clinic liable for super guarantee charge Click here for Practice Update July 2026

Practice Update June 2026 covers following points: 2026 Budget: The Big Changes ATO says: “Don’t delay: act now to transition from the SBSCH”! ATO warns of Tax Time misinformation and focus areas Payday Super: How to manage super during the changeover New ATO guidance for rental property owners Click here for Practice Update June 2026

Practice Update March 2026 covers following points: ATO is ‘clearing up’ some common Payday Super myths Tribunal decision regarding home office and car expenses overturned ATO responds to high fuel costs ATO wants businesses to review their GST turnover Tribunal rejects claims for self-education expenditure ATO launches new app feature to stop scam calls Click […]

Practice Update March 2026 covers following points: Know when a new logbook is required Keeping a car logbook may be required to accurately calculate the business-use percentage of vehicle expenses (e.g., fuel, registration, insurance and depreciation) for tax deductions. Taxpayers can keep the same logbook for their car for five years, but there are circumstances […]

Practice Update March 2026 covers following points: $20,000 instant asset write-off extended Editor: The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026. Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be […]

Practice Update January-February 2026 covers following points: Mandating cash acceptance The Government recently announced that it was delivering on its commitment “to mandate cash acceptance for essentialpurchases by finalising regulations that require fuel and grocery retailers to accept cash from 1 January 2026.” The changes mean that, from 1 January 2026, most food and grocery […]

Christmas Parties & Gifts December 2025 following points: Year-end (and other) staff parties Editor: With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. However, there are important issues to consider, including the possible FBT and income tax implications of providing […]

Practice Update December 2025 covers following points: Alternative providers to the SBSCH Employers should start preparing for the permanent closure of the Small Business Superannuation Clearing House (‘SBSCH’) on 1 July 2026. By acting now to find an alternative service, employers will have an established process in place to pay super guarantee (‘SG’) for the […]

Practice Update November 2025 covers following points: Dual cab utes and FBT The ATO wishes to dispel the ‘common myth’ that dual cab utes are automatically exempt from fringe benefits tax (‘FBT’). If an employer provides dual cab utes to staff to complete their duties and the vehicle is available for personal use, then the […]

Practice Update September 2025 covers following points: Employees incorrectly treated as independent contractors The ATO is warning businesses that if they incorrectly treat an employee as an independent contractor, then they risk receiving penalties and charges, including: PAYG withholding penalty for failing to deduct tax from worker payments and send it to the ATO. Super […]

Practice Update September 2025 covers following points: ATO to include tax ‘debts on hold’ in taxpayer account balances From August 2025, the ATO is progressively including ‘debts on hold’ in relevant taxpayer ATO account balances. Editor: A ‘debt on hold’ is an outstanding tax debt where the ATO has previously paused debt collection actions. Tax […]

Practice Update August 2025 covers following points: Paid parental leave changes have now commenced As from 1 July 2025, the amount of Paid Parental Leave available to families increased to 24 weeks, and the amount of Paid Parental Leave that parents can take off at the same time has also increased from two weeks to […]

Practice Update July 2025 covers following points: Changes to car thresholds from 1 July The car limit for the 2026 income year is $69,674. This is the highest value that a taxpayer can use to calculate depreciation on a car where they use the car for work or business purposes and they first use or […]

Practice Update June 2025 covers following points: ‘Wild’ tax deduction attempts The ATO recently revealed some of the ‘wild’ work related expense tax claims people have tried to “put past” the ATO, including the following: A mechanic tried to claim an air fryer, microwave, two vacuum cleaners, a TV, gaming console and gaming accessories as […]

Practice Update March 2025 covers following points: How to manage business day-to-day transactions? The ATO has the following tips for small business owners “that can make your tax life easier”: They should keep an eye on upcoming expenses, and regularly update their books and reconcile their accounts. They should set aside the GST they collect […]

Practice Update March 2025 covers following points: ATO’s new focus for small business ‘specific risk areas’, where it is concerned “small businesses are getting it wrong”: Contractors omitting income — with a focus on data matching to ensure all income is reported. Quarterly to monthly BAS reporting for GST purposes — The ATO will move […]