Tax time is here again, and the 2025–26 income year brings several important changes. Some rules have shifted, compliance scrutiny has increased, and a few widely discussed measures do not yet apply. Here is a clear, practical guide to help tax professionals prepare accurate and timely returns for their clients. Wait Before You Lodge —…
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A new financial year brings a new set of rules. From 1 July 2026, changes to income tax, superannuation, wages, government payments and business obligations take effect across Australia. Some of these changes put more money in your pocket. Others create new compliance obligations for employers and business owners. Here is what you need to…
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With the end of the 2025–26 financial year approaching, now is the right time to review your tax position. Effective tax planning is not only about preparing your tax return after 30 June. It is about making informed decisions before year-end, while there is still time to act. Good planning can help you manage tax,…
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The Australian Taxation Office has released new guidance that may affect how holiday home owners claim tax deductions. The ruling, known as TR 2026/1, explains when individuals can claim rental property deductions. It is particularly relevant for holiday homes, short-term rentals and properties used for both private stays and guest bookings. The main message is clear.…
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The Federal Budget Context: A Global Oil Shock The 2026-27 Federal Budget lands against an extraordinary backdrop. The conflict in the Middle East has disrupted roughly one-fifth of the world’s seaborne oil and gas supply — the largest oil supply disruption on record. The economic consequences are real and immediate. Headline inflation reached 4.6 per…
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The Australian Taxation Office is targeting personal services income arrangements that divert earnings away from the individual who generated them. It has made its position unmistakably clear. PCG 2025/5 is now in force, and the ATO’s compliance focus is sharper than ever. Taxpayers who operate through personal services entities must act now — not wait for the…
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The difference between a 25% and 30% company tax rate can mean thousands of dollars to your business each year. Yet many Australian companies get their tax rate wrong, either overpaying tax or facing unexpected bills when the ATO catches up with them. The Australian Taxation Office has recently reminded businesses that your company’s tax…
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If you use your car for work purposes and want to claim vehicle expenses on your Australian tax return, keeping an ATO-compliant logbook is not optional—it is essential. Yet every year, thousands of Australians either miss out on legitimate deductions or face ATO scrutiny because their logbook records are incomplete, inaccurate, or simply missing. This…
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With the end of the 2024–2025 financial year fast approaching, it’s crucial for both business owners and individuals to be aware of and act on effective tax planning strategies. Tax planning goes beyond preparing and lodging your tax return—it’s about structuring your finances to grow your wealth while legally minimising tax. With 30 June 2025…
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The Australian Taxation Office (ATO) has increased its focus on tax compliance in the legal profession. A recent review of over 250 lawyers found that 85% had overdue lodgements. Some had failed to lodge tax returns for multiple years. As a result, the ATO secured $28 million by enforcing overdue lodgements and identifying unreported income.…
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