Blog

ATO to continue accepting credit cards until 30 June 2027 The ATO has confirmed that it will continue to accept credit card payments for tax obligations until 30 June 2027 (i.e., despite the Reserve Bank’s credit card surcharge reforms). After 30 June 2027, taxpayers who wish to continue using a credit card to meet their … Read more

ATO focus on taxpayers who vary their PAYG instalments The ATO is writing to taxpayers who have varied their PAYG instalments to nil over multiple years, reminding them that the general interest charge (‘GIC’) may apply where their instalments have been significantly understated. Where varied instalments are less than 85% of the total tax payable, … Read more

Deductions for rental properties that double as holiday homes The ATO has updated its guidance on rental property income and expenses from 1 July 2026, including for properties that are also used as holiday homes. Where a property is a holiday home, it must be used (or held for use) mainly to produce rental income … Read more

Government to permanently extend $20,000 instant asset write-off The Government has recently introduced legislation that would make the $20,000 instant asset write-off permanent for small businesses (as announced in the 2026 Federal Budget). If enacted, the changes would: permanently set the instant asset write-off threshold at $20,000 (instead of $1,000) for eligible depreciating assets first … Read more

Government’s tax reform package The Government has recently legislated several of the tax reform measures announced in the 2026 Federal Budget (and in later media releases). These include, among other things: Replacing the CGT discount with cost base indexation and a 30% minimum tax on gains accruing from 1 July 2027 (including gains on pre-CGT … Read more

2026 Budget: The Big Changes Editor: The Federal Government handed down the Federal Budget on 12 May 2026, with some of the biggest changes to the tax system in years.   Some of the main proposed changes include: Delivering a new Working Australians Tax Offset (‘WATO’) to provide a permanent annual $250 tax offset to all … Read more

Know when a new logbook is required Editor: Keeping a car logbook may be required to accurately calculate the business-use percentage of vehicle expenses (e.g., fuel, registration, insurance and depreciation) for tax deductions. Taxpayers can keep the same logbook for their car for five years, but there are circumstances where they may need a new … Read more

$20,000 instant asset write-off extended Editor: The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026. Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be able to use the instant asset write-off … Read more

Mandating cash acceptance The Government recently announced that it was delivering on its commitment “to mandate cash acceptance for essential purchases by finalising regulations that require fuel and grocery retailers to accept cash from 1 January 2026.” The changes mean that, from 1 January 2026, most food and grocery retailers must accept cash for in-person … Read more