Retirement planning isn’t just about how much you’ve saved — it’s also about how you turn those savings into an income you can rely on. As retirement approaches, one of the key decisions you’ll need to consider is what to do with your superannuation. An account-based pension is one option. Instead of taking your super as a lump sum, you can transfer some or all of your super into […]
Starting to draw on your super doesn’t necessarily mean you have to stop working. It’s a common misconception that once you begin receiving an income from your superannuation, there’s a limit on how much you can earn from part-time or casual employment. For many self-funded retirees, that’s generally not the case. If you’re not receiving the Age Pension or another means-tested government payment, there is generally no income […]
If your business claims fuel tax credits, using the correct rate could make a difference to your next BAS. Fuel tax credit rates changed again on 3 August 2026 following CPI indexation, marking the fourth rate movement this year after earlier changes in February, April and July. With rates changing multiple times throughout the year, businesses need to take […]
Buying and holding cryptocurrency can have tax implications — and selling it for cash isn’t the only transaction you need to think about. If you invest in cryptocurrency, it’s important to understand how the ATO generally treats your crypto assets for tax purposes. For many investors, cryptocurrency is treated as a capital gains tax (CGT) asset. This means that when you dispose […]
Taking a job overseas doesn’t automatically mean you stop being an Australian tax resident. If you’re planning to move overseas for work, it’s easy to assume that spending most of your time in another country means you’ll automatically become a foreign resident for Australian tax purposes. A recent Federal Court case involving an engineer who lived and worked in Dubai for around five years highlights […]
Receiving money from a government-funded program doesn’t automatically mean the income is tax-free. If your business provides services through a government-funded program, it can be easy to assume that payments received from the government — or through a government program — are treated differently for tax purposes. That’s not necessarily the case. The ATO has […]
The structure that was right when you started your business may not necessarily be the right structure for where you are today. When you first started your business, choosing a business structure was probably one of the many decisions you had to make quickly. You may have started as a sole trader, entered into a […]
Good news for small-business owners: the $20,000 instant asset write-off is here to stay. If you’ve been putting off equipment purchases because the instant asset write-off seemed to change from year to year, there’s now significantly more certainty when planning your business investments. As announced in the 2026–27 Federal Budget, the $20,000 instant asset write-off […]
Automatic payments are convenient — but when was the last time you checked what you’re actually paying for? Have you ever received a renewal notice, noticed the price had increased, and simply paid it anyway? You’re certainly not alone. According to the Australian Securities and Investments Commission (ASIC), many Australians don’t fully understand why their […]
Think your tax return is finished once you hit “submit”? Not necessarily. Many Australians have already lodged their 2025–26 tax return, and for some, the process is now complete. But what happens if you discover something was missed, find an important document, or receive information after you’ve lodged? The good news is that lodging your […]
Not every tax mistake starts with a scam. Sometimes, it starts with information that simply isn’t correct. Most Australians know to be cautious when they receive an unexpected text message, email or phone call claiming to be from the ATO or myGov. But scams aren’t the only online threat during tax time. The ATO is […]
Superannuation is one of the most tax-effective ways to build wealth for retirement. However, from 1 July 2026, additional tax may apply to some people with very large superannuation balances. Known as Division 296 tax, the new rules are designed to reduce the tax concessions available on very large super balances. If you have more than $3 million in super, it’s worth understanding how the new rules […]
Having a baby or welcoming an adopted child is a major life event. But taking time away from work can also mean taking a break from your usual superannuation contributions. A new government initiative is designed to help reduce that gap. From 1 July 2026, the Australian Taxation Office (ATO) has started paying the Paid Parental […]
If you have a mortgage offset account, you probably opened it with one main goal: to reduce the amount of interest you pay on your home loan. But what happens if your offset account isn’t correctly linked to your mortgage? A recent ASIC review suggests it’s worth checking. ASIC finds problems with mortgage offset accounts ASIC reviewed how eight major […]
Working from home has become a normal part of life for many Australians. But when it comes to claiming work-related expenses, it’s important to understand what you can — and can’t — claim. The ATO has identified cases where taxpayers have incorrectly claimed costs such as rent, mortgage interest and other household expenses as working-from-home deductions. The key is understanding the […]