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2026-2027 Budget first look for businesses
The 2026-2027 Federal Budget is probably the single largest betrayal of the Australian people by a government. The Albotross government not only did a 180 on the promises they made during the 2025 federal election, when the Albotross emphatically stated when asked a question on whether they intend to introduce changes to capital gains or negative gearing, “I have answered that question 50 times already and the answer is still no”. Well 51 times no, turned into the 52nd question being a big fat YES, he gave the Australia people the finger, on Tuesday night. But I suppose what can we expect from a politician.
Pay Day Super - what you need to know now!
From 1 July 2026, super must be paid every payday, at the same time as wages, and received by the employee’s fund within 7 business days. The ATO will automatically check this using payroll (STP) and super fund data.
Employers should ensure their superannuation obligation are up to date before 30 June. As unpaid obligation prior to 1 July can give you a hangover under the knew system.
Fringe benefits tax 2026: what small businesses need to know
The 2026 FBT year is a useful reminder that fringe benefits tax is often less about major rule changes and more about whether businesses have identified benefits properly and kept the right records. Vehicles, staff reimbursements, meal and entertainment spending, and electric vehicle arrangements continue to be common areas where issues arise. In many cases, the tax outcome depends on the detail and the documentation, not just the type of expense. For small businesses, the best starting point is a simple review of what was provided during the year ending 31 March 2026 and whether the supporting records are complete. We have outlined the main risk areas and some practical next steps in the full article. If you would like a simple way to work through your position, you can also use the FBT questionnaire linked in this newsletter.
Pay Day Super what’s the big hoorah!
Payday super, an employer’s new nightmare! From 1 July 2026, Payday Super will require Australian employers to pay Superannuation Guarantee (SG) contributions at the same time as wages, rather than quarterly.
Employers should begin preparing now by reviewing payroll processes, consulting software providers, and training staff
Company Solvency Resolutions
Company solvency resolutions, why: running a company in Australia comes with a host of legal and financial responsibilities. Among the most critical and often overlooked is the requirement for directors to pass an annual solvency resolution. This isn’t just a box-ticking exercise. It’s a legal obligation under the Corporations Act 2001 (Cth) and a vital tool for ensuring financial accountability and business sustainability.
The Government increases the burden on small business
The Government has removed the tax deduction for ATO General Interest Charges, from 1 JUly 2025.
The Australian Taxation Office (ATO) has recently announced a significant change that will significantly impact small businesses from July 1, 2025. From this date, General Interest Charges (GIC) will no longer be tax deductible.
This change has potential to significantly impact small business given how difficult it can be for small business to access finance. This also makes one wonder if the Government really wants to support small business, particularly given the current economic conditions and the substantial increase in small business insolvencies.
2025 Fringe Benefits Tax year
The 2025 Fringe Benefits Tax (FBT) year is coming to a close, read our article to see what employers should be doing, it is important for employers to review any fringe benefits they may have provided to employee and record vehicle odometer reading for the FBT year. FBT pertains to any non-cash benefits employers provide to their employees. The ATO have an aggressive compliance stance when it comes to FBT, employers need to be on the front foot to avoid any potential penalties.
Is your contractor an Employee!
From today there are changes to the way you determine if a contractor is an employee.
The new test: Whole of Relationship Test:
Constitutionally covered businesses use the whole of relationship test to determine if a worker is a contractor or an employee starting from 26 August 2024.
Why is my tax refund so small?
The low and middle income earners offset delivered up to $1,080 from 2018-19 to 2020-21, and up to $1,500 in 2021-22 for those earning up to $126,000, is gone. This was a significant boost for many people each tax time and bolstered the tax returns of millions of Australians. For many, the end of this offset has meant that their tax refund has reduced dramatically compared to previous years.
Important: 1 July 2023 wage increases
For employers, incorrectly calculating wages is not portrayed as a mistake, it’s “wage theft.” Beyond the reputational issues of getting it wrong, the Fair Work Commission backs it up with fines of $9,390 per breach for a corporation. In 2021-22 alone, the Fair Work Ombudsman recovered $532 million in unpaid wages recovered for over 384,000 workers.
The 120% technology and skills ‘boost’ deduction
The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions.
Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for expenditure by small and medium businesses (SME) on technology, or skills and training for their staff, is finally law.
A Broken Promise for Broken Super
OK, lets start by getting one thing clear. Saying things like “We’ve said we have no intention of making any super changes” during an election campaign, and then making changes less than 12 months later, is clearly a broken election promise.
ATO announces changes to working from home deductions
Work from home deductions changing for the 2022/23 financial year. The fixed rate amount is increasing and some of the record keeping rules are easier to comply with.
Paid - Family and Domestic Violence Leave, New Rules
Employees of non-small business employers can now access 10 days of paid family and domestic violence leave in a 12-month period.
Employees of small businesses can access the leave from 1 August 2023.
Employees have had an entitlement to unpaid family and domestic violence leave (FDVL) for some time as part of the National Employment Standards (NES). But as of 1st February this is a paid leave entitlement for employees of larger employers and 1 August 2023 for employees of small employers (fewer than 15 employees).
January PAYG withholding statement (IAS) is due on the 21st
January activity statement due on the 21st, don’t forget to lodge yours.
Am I taxed on an insurance payout?
Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and is not income assessed for tax purposes - but this is not always the case.
Do you have your Directors ID yet!
In October 2021 the Government introduced a new identification system for company directors, a Directors ID. A number of transitional measures were put in place to make it easier for existing directors to comply with the new regime. The last of those transitional measure is fast approaching on 30 November 2022. If you are a director and have not applied for your Directors ID by 30 November 2022 you could face stiff penalties.
How to sell your business
We’re often asked the best way to sell a business.
There are two key components at play in the sale of a business: structuring the transaction; and positioning the business to the market. Both elements are important and can significantly impact your result.
ATO Debt Recovery and Director Penalty Notices
The ATO has increased its activity around recovering unpaid business debts. During the pandemic, it paused debt recovery, but has now resumed its pursuit of debts.