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 […]
Life changes — and your financial goals should change with it. The financial goals you set a few years ago may have made perfect sense at the time. But since then, you may have changed jobs, started a family, bought a property, taken on new financial commitments, or simply changed what you want from life. […]
The Australian Taxation Office has finalised new guidance on the tax treatment of rental properties, with particular attention being given to holiday homes that are also rented out. The new guidance follows draft material released late last year and is particularly relevant to owners of coastal, country, ski-area or short-stay accommodation properties that are used […]
With the introduction of Payday Super from 1 July 2026, employers face stricter deadlines for paying employee superannuation. Under the new rules, Super Guarantee (SG) contributions must generally be received by an employee’s nominated super fund within seven business days of each payday. While the new system is designed to improve the timeliness of super […]
A major change to Australia’s superannuation system has officially arrived. From 1 July 2026, employers are now required to pay superannuation contributions at the same time they pay employees’ wages. Known as Payday Super, the reform is designed to ensure employees receive their super contributions more regularly, improving transparency and helping Australians grow their retirement […]
Whether you’re working a second job, juggling multiple part-time roles, driving for a rideshare service, or earning extra income through a side hustle, having multiple income streams has become increasingly common. While earning more income is a positive step, it’s important to understand how Australia’s tax system works. Without the right planning, many people are […]