Several changes come into effect 1 July 2026 that affect businesses and individuals including tax rate decrease and payday super.
Blog / Tax Returns
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.
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...
Are you missing out on your Franking Credit refund?
As seen in Woopi News November 2024 Recently we met with a couple of retirees to discuss a capital gains tax matter. The couple hadn’t needed to lodge tax returns for 15 years, as their investment income was under the tax-free threshold for senior Australians. After...
Tax Time | Be aware of ATO Scams
As seen in Woopi News August 2024 Scammers often pretend to be from trusted organisations such as the ATO and will try to trick you into paying money or giving out your personal information. In the digital world that we now live in people need to be aware of the...
2024 Tax traps as we approach 30 June
As seen in Woopi News May 2024 As we approach the end of financial year, people tend to start thinking about ways to save tax but as I say every year, if you don’t need it, don’t buy it just to save tax. If you spend $100 and claim that item, you are not getting the...
How to prepare for your Tax Appointment and communicate effectively with your Accountant
When preparing to do your Tax Return whether you do it yourself or have an accountant prepare it for you, it’s important to store your records in an appropriate manner.
Residential Investment property – ATO Data matching and increased Audit focus
The Australian Taxation Office have released data that 90% of Tax Returns containing a residential property rental schedule have contained at least one error.
Why does your accountant know so much about you, without having to ask?
In recent years Online Services for Agents (aka the Tax Agent Portal) continues to be expanded. A lot of this information is also available on your MyGov account, if you have one setup.
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5/66 River St, Woolgoolga
NSW 2456
Australia
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For all your individual tax return, bookkeeping, business tax or SMSF needs, contact StaySharp Accounting.
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