October 2026 – Practice Update

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,...

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September 2026 – Practice Update

June 2026 quarterly statistics highlight continued SMSF growth The ATO’s latest quarterly SMSF statistics show continued growth in the sector, with 12,264 new SMSFs established during the June 2026 quarter and total membership increasing to more than 1.24 million Australians. The figures confirm a record year for the sector, with 52,020 new SMSFs established during...

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August 2026 – Practice Update

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...

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