PAYG instalments don’t have to catch you off guard each quarter. When managed effectively, they support more consistent cash flow and help businesses stay on top of their tax obligations throughout the year.
The Division 296 superannuation tax has now become law, with several key changes from the original proposal. Commencing from 1 July 2026, the new rules apply to individuals with total superannuation balances over $3 million and include revised thresholds, tax rates and calculation methods.
Queensland’s recent flooding has placed enormous pressure on rural and regional communities, with significant damage across North, North West and Central Queensland. New funding of $26.6 million has been released to help primary producers and local businesses recover, offering grants for clean up, reinstatement and ongoing operational support through QRIDA.
With major ATO changes on the horizon and increasing compliance requirements, businesses are rethinking their accounting software. Xero is leading the way with smart features that simplify payroll, superannuation, and reporting. Could now be the right time for you to make the switch?
The ATO is cracking down on income earned from personal skills, especially when routed through companies or trusts and shared with family members. New guidelines on Personal Services Income (PSI) set out compliance risks and tests for genuine business activity. Contractors and consultants should review their structures now to avoid penalties.
Fuel tax credits can offer valuable savings for businesses, but they’re also a common source of ATO scrutiny. With changing rates, strict eligibility rules, and the need for solid documentation, it’s easy to make mistakes.
Starting from 1 July 2025, significant changes will take effect regarding the deductibility of interest charges imposed by the Australian Taxation Office (ATO). Read more here.
We wish to warn our valued clients and taxpayers of an increase in MyGov account breaches through targeted efforts by hackers. Read more here.
