June 2026 – Practice Update

2026 Budget: The Big Changes   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 eligible Australian workers.  This applies to eligible income earned from 1 July 2027 (i.e., from the 2027/28 income year). Introducing a $1,000 instant tax deduction...

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May 2026 – Practice Update

ATO responds to high fuel costs The ATO recognises that high fuel costs are affecting some businesses, and it will provide targeted support to eligible businesses that are unable to meet their payment obligations for three months, from 1 April 2026 to 30 June 2026. In particular: the ATO will provide streamlined access to more...

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Apriil 2026 – Practice Update

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...

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