For SMSF trustees, property is often one of the fund's most significant assets — but unlike listed shares, valuing it each 30 June can be far more involved.

From 1 July 2026, the value of a Commonwealth penalty unit rose from $330 to $364 — a change that directly increases the cost of many ATO penalties and compliance failures. Because penalty units underpin a wide range of fines under Commonwealth law, this seemingly small adjustment affects breaches occurring on or after that date.

The ATO has released updated reasonable travel and overtime meal allowance rates for 2026–27, but these figures aren't an automatic deduction — employees can only claim what they actually spend on genuine work-related expenses. Good record-keeping remains essential, and this article outlines what qualifies as a genuine allowance, what records to keep, and practical steps to avoid ATO scrutiny.

The 2026–27 Federal Budget proposed a 30% minimum tax on discretionary trust income from 1 July 2028, aimed at aligning trust taxation with wage earners while curbing income splitting — though key exclusions apply and over 90% of small businesses aren't expected to be affected. The rules aren't yet final, but family groups, especially those distributing income to companies, should start considering how the changes might impact them.

New SMSF borrowing rules have changed the types of property that can be acquired through limited recourse borrowing arrangements.

If you're thinking about purchasing or leasing a vehicle for your business in the new financial year, it's worth understanding the updated car thresholds that apply from 1 July 2026.

The sharing economy has created new opportunities for Australians to earn additional income. However, one aspect that can sometimes come as a surprise at tax time is that this income generally needs to be declared in your tax return.

The High Court has recently handed down an important decision that will impact many private business groups using discretionary trusts and corporate beneficiaries.

With the start of the 2026–27 financial year, SMSF trustees should take a proactive approach to ensure funds remain compliant and well positioned. Included is a concise checklist of the key legislative changes, compliance deadlines and practical steps trustees should prioritise.

The Tax Ombudsman has reported a dramatic 127% increase in complaints about the ATO this financial year with nearly 3,000 complaints received in the first ten months. Debt collection, penalties, and tax debt interest charges have dominated the issues raised.

The ATO is sharpening its focus on how taxpayers generating income from personal services deal with that income for tax purposes. In a recent Spotlight bulletin, Small Business Assistant Commissioner Tony Poulakis highlighted the release of Practical Compliance Guideline PCG 2025/5.

One of the most significant changes to the Australian superannuation system in decades has now commenced. From 1 July 2026, Payday Super requires employers to ensure super contributions reach employee super funds within seven business days of each payday. For many businesses, this represents a major shift from a quarterly payment cycle to a more frequent, real-time obligation.