From 1 April 2027, employers will no longer be able to use the ‘otherwise deductible rule’ to reduce the taxable value of an expense payment fringe benefit provided to an employee where the expense is: - work-related; - covered by the new $1,000 standard deduction; and - provided...
The ATO has highlighted several misconceptions that commonly lead to incorrect claims under the cents per kilometre method for claiming deductions for car expenses. Common errors include: - Claiming travel between home and work, which is generally private and non-deductible; - Automatically claiming 5,000 kilometres without the...
From 1 July 2026, the $20,000 instant asset write-off has been made permanent for small businesses. Businesses with an aggregated turnover of less than $10 million may be able to claim an immediate deduction for the business portion of an eligible depreciating asset costing less than...
The re-introduced ‘loss carry back’ measure has also now become law, applying to income years starting on or after 1 July 2026. Where eligible, companies will broadly be able to carry back a tax loss (revenue in nature) and apply it against tax paid in either,...
The ATO is reminding business taxpayers of recent changes they should keep in mind this Tax Time, including the following: From 1 July 2026, Payday Super applies. Employers will need to pay super to an employee's nominated super fund each payday, and it must reach the...
The Government has recently legislated several of the tax reform measures announced in the 2026 Federal Budget (and in later media releases). These include, among other things: - Replacing the CGT discount with cost base indexation and a 30% minimum tax on gains accruing from 1...
The Federal Government handed down the Federal Budget on 12 May 2026, with some of the biggest changes to the tax system in years. Some of the main proposed changes include: Delivering a new Working Australians Tax Offset ('WATO') to provide a permanent annual $250...
The ATO is providing information that employers need to know to manage the changeover from quarterly super to Payday Super from 1 July 2026 (i.e., when employers will begin paying super with each payday under the Payday Super changes). During July 2026, employers may need to...
The Small Business Superannuation Clearing House ('SBSCH') will permanently close on 1 July 2026. Therefore, employers still using it have less than a month to transition to an alternative service provider, test their new arrangements and resolve any issues before Payday Super begins. The ATO recommends...
Key BAS, tax & super deadlines — all in one simple guide A new year always brings good intentions — more balance, less stress, and feeling a little more in control. But when it comes to tax, BAS, super and payroll, it’s easy for deadlines to creep...