Several changes come into effect 1 July 2026 that affect businesses and individuals including tax rate decrease and payday super.
Blog / Woopi News
2026 Federal Budget Announcements
A breakdown of the 2026 Federal Budget Announcements and their proposed changes still to be legislated.
ATO Audit Areas of Focus 2025-26
Every year Australian Taxation Office (ATO) has key areas of focus that they target for auditing. In the 2025-2026 year the ATO has indicated some of their areas of focus which this article outlines.
The Super changes starting 1 July 2026 could trigger excess concessional contributions tax for some taxpayers
Payday super comes into effect 1 July 2026. Instead of employers being required to pay employees Superannuation Guarantee (SG) quarterly (every 3 months) they will now be required to make Super Guarantee contributions when the wages are paid.
Potential Changes to Capital Gains Tax and Negative Gearing
Capital Gains Tax (CGT) and negative gearing are often discussed, especially when housing affordability and tax reform are in the news. We should expect to hear more on this as part of the May 2026 Budget update.
Changes to AntiMoney Laundering Reporting in Australia
Australia’s antimoney laundering and counterterrorism financing (AML/CTF) framework is undergoing significant reform with changes to reporting obligations, and expansion of who must comply with AML/CTF reporting over the 2025-2026 period.
Long Service Leave for the Community Services Industry
As seen in Woopi News January 2026 Long service leave is additional leave workers may be entitled to after working for the same employer for a certain number of years. The Long Service Corporation (LSC) have been administering portable long service leave for the...
Payday Superannuation
As seen in Woopi News December 2025 In November 2025, Payday Superannuation legislation passed both houses of Parliament and received Royal Assent. The new law comes into effect as of 1 July 2026. Superannuation was previously only required to be paid on a quarterly...
Business vs Work Related Expenses
As seen in Woopi News November 2025 Do you have a side hustle? In our modern economy, a lot of people work a regular job and then run a small business as a side hustle. How you provide the income and expenses for each activity to your accountant matters. We often find...
Reimbursements verses Allowances
As seen in Woopi News October 2025 Often clients say, no I can’t claim that because I receive an allowance, but that’s not how it works. An allowance is recorded as taxable income and a deduction can be claimed for the work related portion of the expense, so long as...
Your Accountant and their lodgement deadlines
As seen in Woopi News September 2025 Many people don’t quite understand the scope of an accountant’s role. It often amuses us when people ask, so what do you do for the rest of the year, after you have done all the tax returns? Most Accountants have enough work to...
Social Media Finfluencers on the rise
As seen in Woopi News August 2025 With the prevalent use of social media for advertising, influencers are appearing everywhere, including in the realm of tax and financial advice. The Tax Practitioners Board (TPB) warns that the number of ‘finfluencers’ is on the rise...