Our Recent Blogs
$20,000 instant asset write-off made permanent
From 1 July 2026, the $20,000 instant asset write-off has been made permanent for small businesses.
ATO alert: $21 billion in lost super
The ATO is urging individuals to check whether they have lost or unclaimed super, with more than $21 billion waiting to be reunited with its owners.
Deductions for rental properties that double as holiday homes
The ATO has updated its guidance on rental property income and expenses from 1 July 2026, including for properties that are also used as holiday homes.
Card Surcharge Changes: What businesses need to know
From 1 October 2026, businesses can no longer add a separate surcharge for card payments, including eftpos, Visa, Mastercard and American Express. Merchant fees have not disappeared, so businesses must decide how those costs will be managed.
$1,000 standard deduction for work expenses
The ATO has recently updated its Employees guide for work expenses to remind taxpayers that the new $1,000 standard deduction cannot be claimed for the 2026 income year.
Payday Super and independent contractors
The ATO is reminding businesses that Payday Super changes when super contributions must be paid, not who is entitled to receive them.
Tips for meeting the Payday Super timeframe
Under Payday Super, contributions must be received by an employee’s super fund within seven business days after payday.
Tribunal rejects claims for self-education expenditure
The Administrative Review Tribunal recently rejected an employee's claims for self-education expenses, as they did not have a sufficient nexus with his current job and income-earning activities.
Tribunal decision regarding home office and car expenses overturned
The Full Federal Court recently allowed the ATO's appeal against an Administrative Review Tribunal decision that a taxpayer was entitled to claim deductions for home office and car expenses.
ATO wants businesses to review their GST turnover
The ATO has noticed some businesses have not updated their GST reporting and accounting methods after exceeding the relevant thresholds.
Division 7A benchmark interest rate
The ATO has published a Division 7A benchmark interest rate of 8.77% for the income year ending 30 June 2027, up from 8.37% for the previous income year.
ATO warning on property manager reports
The ATO is warning rental property owners that expenses shown in property manager reports may not always be classified correctly for income tax purposes.
Government to re-introduce loss carry back for companies
The Government has also recently introduced legislation to re-introduce the 'loss carry back' measure for companies from 1 July 2026.
ATO warning on home occupancy expense claims
The ATO has identified that some taxpayers are incorrectly claiming rent, mortgage interest and other occupancy expenses as part of their work-from-home expenses.
Changes to car thresholds from 1 July 2026
The car limit for the 2027 income year is $69,883.
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 lease the car in the 2027 income year).
Changes to SMSF limited recourse borrowing arrangements for property
The Australian Taxation Office (ATO) has announced significant changes to the rules governing Limited Recourse Borrowing Arrangements (LRBAs) for Self-Managed Super Funds (SMSFs). These changes take effect from 10 August 2026 and may impact SMSFs looking to purchase property using borrowed funds.
ASIC Payment Alert
If you receive a letter, email or notice about your company annual review or business name renewal, please take a moment to check it carefully before making payment.
Fuel Tax Credit Rates Increased 3 August 2026
Changes to Fuel tax credit rates as of 3 August 2026. Remember to use the new rates when completing your next BAS!
Government to permanently extend $20,000 instant asset write-off
The Government has recently introduced legislation that would make the $20,000 instant asset write-off permanent for small businesses (as announced in the 2026 Federal Budget).
Hybrid vehicles and FBT changes
Employers that provide plug-in hybrid electric vehicles ('PHEVs') to employees (or associates) for personal use should remember the following.