Newsletters
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NEWSLETTER ARCHIVE
September 2025 Newsletter
As springtime kicks off, we have plenty of fresh content for you this month. Learn what came out of the Australian Government's recent Economic Reform Roundtable, as well as advice on what to do if you exceed your super contribution caps. Read more
June 2025 Newsletter
With 30 June approaching, this edition includes your 2025 tax and super checklist. Plus gain tips for getting your claims right, learn about the new tax on large super balances, and get the rundown on capital gains tax exemptions for land adjacent to a home. Read more
May 2025 Newletter
Let’s talk about how you can reduce capital gains tax and save. There are also plenty of other great tips in this edition, including whether it’s better to make additional super contributions or make mortgage repayments.
Read more
April 2025 Newsletter
The April Newsletter covers family trust updates, important information about buying or selling property, and when transitioning to a retirement pension is a smart move. You’ll also learn about the ATO’s update to the difference between employees and contractors, and effectively managing superannuation contributions.
Read more
March 2025 Newsletter
In this newsletter we explore some big topics including salary sacrifice vs personal deductible superannuation contributions, important crypto tax considerations, and more.
A handy fringe benefits tax (FBT) checklist is also included to help you identify potential FBT liabilities.
Read more
February 2025 Newsletter
As we settle into 2025, it’s the perfect time to stay informed about key tax, financial and superannuation changes that could impact you. This month’s newsletter is packed with insights to help you navigate the year ahead. Find out more about key superannuation changes, the ATO's latest rental data-matching efforts, using superannuation for financial hardship and more.
Learn more in the HSPlus Accounting & Advisory newsletter.
December 2024 Newsletter
With the festive season just around the corner (or already under way), many business owners will be gearing up for year-end celebrations with both employees and clients.
Knowing the rules around FBT, GST credits and what is or isn't tax deductible can help avoid unwelcome surprises on the tax front.
Learn more in the HSPlus Accounting & Advisory newsletter.
October 2024 Newsletter
Superannuation laws have been simplified over recent years to allow older Australians more flexibility to top up their superannuation.
Learn more about making superannuation contributions in the HSPlus October 2024 Newsletter.
September 2024 Newsletter
While Australia doesn't have a joint filing option fort married couples, there are some aspects of your individual tax assessment that depend on your spouse's income.
For example, your eligibility for the private health insurance rebate and your liability for the Medicare Levy Surcharge both take into account your spouse's income include the senior and pensioner tax offset.
Learn more about Tax Laws in the HSPlus September 2024 Newsletter.
August 2024 Newsletter
Primarily, if you are a resident of Australia for tax purposes you will be liable for tax in Australia on income you derive from all sources - including of course from overseas (eg. an overseas bank account, rental property, an interest in a foreign business, etc).
On the other hand, if you are a non-resident of Australia for tax purposes, you will only be liable for tax an income that is sourced in Australia (including capital gains on certain property such as real estate in Australia).
Learn more about The importance of "Tax Residency" in the HSPlus August 2024 Newsletter.
June 2024 Newsletter
As you approach retirement, your investment strategy objectives may start to shift. In your younger years, the main aim of superannuation is generally accumulation-focussed, which is all about growing as big a balance as possible, making regular contributions and investing for growth over the long-term.
Learn more about making your super last in retirement in the HSPlus June 2024 newsletter
May 2024 Newsletter
With the temptation for homeowner to cash in on spiralling house prices around Australia, it is important to turn your mind to whether you may only have a partial capital gains tax (CGT) main residence exemption available to you, and not a full CGT exemption (because of the way you have used your home).
Learn more about tax liability in the HSPlus February 2024 newsletter
April 2024 Newsletter
Six super strategies to consider before 30 June
With the end of financial year fast approaching, now is a great time to boost your superannuation savings and potentially save on tax. Below are six superannuation strategies to consider before 30 June 2024.
Learn more in the HSPlus Accounting & Advisory newsletter.
March 2024 Newsletter
Stage 3 tax cuts: A tax saving opportunity?
Legislation giving effect to the governments revised settings for the Stage 3 tax cuts has been passed by both houses of Parliament with the support of the Coalition.
Learn more about Stage 3 tax cuts – an opportunity for permanent tax savings
in the HSPlus March 2024 newsletter.
February 2024 Newsletter
Compensation from your bank or financial institution is it taxable?
Unfortunately our financial Institutions have not always acted as ethically as we consumers would like.
Whether you've received bad advice or paid for advice you didn't' receive at all, our supervisory and regulatory bodies have sought not only to improve the system so it won't happen again, but also to ensure that if you are on the receiving end of such bad behaviour, you could be entitled to receive financial restitution.
Learn more about taxable compensations in the HSPlus February 2024 newsletter.
December 2023 Newsletter
Give yourself the ultimate gift that doesn't cost a thing - a super to-do list which is a gift that will benefit you now and in the future.
Read more in our December 2023 edition of the newsletter.
November 2023 Newsletter
Who can I nominate as my super beneficiary?
Your superannuation death benefits must be paid to someone when you die. That somebody will usually be your estate or your nominated beneficiary (also known as your dependants).
Unlike other assets such as shares and property, your superannuation and any insurance benefits you have in superannuation do not form part of your estate. That’s because your superannuation is not held by you personally, rather it is held in trust for you by the trustee of your superannuation fund.
Learn more about super beneficiary's in the HSPlus November 2023 newsletter.
October 2023 Newsletter
Did you know you can reduce your income tax by making a large personal tax-deductible contribution from your take-home pay to your super? This strategy may be particularly useful if you will be earning more income this financial year or if you have sold an asset this year and made a large capital gain.
Learn more in the HSPlus Accounting & Advisory newsletter.
September 2023 Newsletter
Thought of registering a trademark for your new business?
The ATO has issued a reminder around trademarks! For background, a trademark legally protects your brand and helps customers distinguish your products or services in the market from others. Trademarks can be used to protect a logo, phrase, word, letter, colour, sound, smell, picture, movement, aspect of packaging or any combination of these. In short, they protect your brand, products and services.
Learn more about what you'll need to protect your business name with a trademark in the September 2023 Newsletter
August 2023 Newsletter
Trusts – are they stillworth it?
The recent ATO crackdown on trusts will no doubt have some businessowners (and even some advisors)asking themselves the question: Is this structure for business purposes still worth it?
Read more about the recent crackdown in the August 2023 newsletter.
July 2023 Newsletter
Super guarantee increases to 11%. The increase to the superannuation guarantee (SG) rate from 1 July 2023 will see more employees (and certain contractors) entitled to additional SG contributions on their pay. But what happens when income earned before 30 June is paid after 30 June 2023 - will employees be entitled to the higher SG rate of 11%?
Read more in our July 2023 edition of the newsletter.
June 2023 Newsletter
With the end of the financial year on our doorstep, the ATO has announced its three key focus areas for 2022-23 Tax Time – rental property deductions, work-related expenses, and capital gains tax(CGT). To maximise your claims in this area and protect yourself from ATO audits and adjustments, be sure to keep the appropriate records.
Learn more in the June 2023 edition of the HSPlus newsletter.
2023-24 Budget Wrap
The 2023-24 Federal Budget was handed down on 9 May. It contains changes to business and personal taxation, superannuation, social security entitlements, as well as cost of living relief. Following are some of the headline measures, many of which are subject to enabling legislation.
April 2023
Trust distribution landscape now more settled. If you carry on your business affairs through a trust structure, there is now more clarity around the law on distributions following much uncertainty throughout the year... Learn more about the trust distribution landscape, FBT exemption for electric vehicles and crypto scams in the HS Plus April 2023 newsletter.
March 2023
Are you one of the five million Australians who claim work from home deductions? If so, stricter record-keeping rules may now apply.
For this financial year and moving forward, there are now only two methods to calculate your work from home claim.
1. Revised fixed rate method (with new rules applying)
2. Actual costs method (unchanged)
The actual costs method has never been all that popular because you need to keep records of every expense incurred and depreciating asset purchased, as well as evidence to show the work-related use of the expenses and depreciating assets.
Learn more in the March 2023 edition of the HSPlus newsletter.
February 2023
Have you missed the deadline to apply for a director identification number (director ID)? If so, you can still apply! The ATO says it will take a reasonable approach with directors who are trying to do the right thing. Importantly, directors who need additional time to apply (beyond 14 December 2022), can request an extension on time by completing an Application for an extension of time to apply for a director ID.
Learn more in the February 2023 newsletter.
December 2022
Christmas is traditionally a time of giving, including employers showing gratitude to their workers for a job well done throughout the year. However, depending on the nature and value of the gift, and also who it is gifted to, such magnanimity can attract unwanted tax consequences. So how as an employer do you gift most tax-effectively this festive season?
Learn more in the December issue of the HS Plus newsletter.
November 2022
Federal Budget 2022-23. The 2022-23 federal Budget was handed down on 25 October. The confirmation of lucrative income tax cuts, and the scrapping of a tax offset for low- and middle- income earners were the big-ticket items.
October 2022
Director identification numbers...time is running out. All existing directors of a company, registered Australian body, registered foreign company, or a director of corporate trustees of an SMSF are required to apply for a director identification number (director ID) by 30 November 2022...so act now! If you are a director of an Aboriginal or Torres Strait Islander corporation (CATSI), you have an additional 12 months to apply to November 30 2023.
September 2022
In the September edition of the HS Plus monthly newsletter, we look into the tax consequences of land subdivision. It’s quite common for individuals to subdivide land they own, and then sell off one of the blocks. Depending on the circumstances, this can have capital gains tax (CGT) and GST implications. Learn more about land subdivision, superannuation for employers, and eInvoicing here.
August 2022 Issue
ATO focus on rental property income and deductions.
Income and tax deductions from rental properties is one of the four key areas that the ATO is focusing on this Tax Time.
Read more in our August 2022 Newsletter.
July 2022 Issue
During the pandemic, the ATO deliberately shifted its focus away from firmer debt collection action to help and assist businesses and the community experiencing financial challenges because of the pandemic. It took a softly-softly approach, acknowledging the financial hardship that the virus wrought on business and individuals alike. However, with the economy now opening back up, business as usual on the ATO debt collection front, has now largely resumed.
The July issue delves further into last minute trust distributions and record keeping, Super guarantee rises, and other tax news as we enter a new fiscal year.
June 2022 Issue
As we move towards the end of the 2021/22 financial year, there are a number of year-end income tax planning opportunities that may be available to optimise your tax position.
Read more tax planning news in the June edition of the HSPlus newsletter relating to:
Temporary full expensing
Capital Losses
Bad debts
May 2022 Issue
Superannuation is an investment vehicle specifically designed to help you save for retirement - this is one of the key reasons why you should take an interest in your superannuation. Whether you’re employed, self-employed or even nearing retirement, it’s never too late to build up your superannuation to boost your retirement savings.
Learn more in our May newsletter.
April 2022 Issue
March 31 marks the end of the 2021/2022 fringe benefits tax (FBT) year which commenced 1 April 2021. It’s time now for employers and their advisors to turn their attention to instances where non-cash benefits have been provided to employees, and also where private expenses have been paid on their behalf.
March 2022 Issue
On-boarding new employees. With Australia now opening back up after the COVID restrictions, unemployment is tipped to fall to the lowest rate in just over 50 years – down to under 4%. If over the coming period you hire new staff, there are certain steps you should follow to cover off on your tax, workplace, and superannuation obligations. Read more in our March 2022 Newsletter.
February 2022 Issue
In the May 2019 Federal Budget, the Government announced that Single Touch Payroll (STP) would be expanded to include additional information, building on the first stage of STP which was made compulsory for most employers from 1 July 2019. For background, the STP regime is a government initiative which is designed to reduce an employer’s burden when reporting to Government agencies such as the ATO. Under the regime, employers report employee payroll information to the ATO each time they are paid via STP-enabled software.
December 2021 Issue
Have you obtained your director ID? Make sure you do. The director identification number (director ID) regime is now in place with Australia’s newest company directors having to comply first. Director IDs are a unique 15-digit identifier that a director will apply for once and will keep forever, similar to a tax file number (TFN). A director can only have one director ID and they must use it for all relevant entities.
November 2021 Issue
A new law will level up the playing field for divorcing couples to ensure both partners have fair and equitable access to superannuation, particularly during acrimonious family court proceedings.
For many Australians, superannuation is their second biggest asset aside from the family home. In a divorce situation, it’s important that both partners, including those with lower superannuation balances who may have taken time out of the workforce to care for children, get their fair share of available super.
October 2021 Issue
Superannuation fund trustees who receive compensation from financial institutions and insurance providers must consider how receipt of these payments may impact a member’s contribution caps.
A superannuation fund may have a right to seek compensation if it entered into a legal contract or agreement with a financial services provider or insurance provider, paid the fees or premiums from the fund’s assets, allocated the cost to the members, and:
■ the financial service or advice was not provided
■ the advice was deficient, or
■ the insurance premiums for death or disability insurance cover were overcharged.
September 2021 Issue
On the road: How to treat work-related travel and living away from home costs. The ATO has released new guidance to help clarify the tax treatment of costs and allowances incurred when an employee travels – or spends time living away from home – for work.
August 2021 Issue
Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians. The Federal Government says the Your Future, Your Super reforms will help ensure superannuation works in the best financial interests of all Australians by removing unnecessary waste, increasing accountability and transparency, and providing more flexibility for families and individuals.
July 2021 Issue
As we enter tax season, millions of Australians begin to prepare their tax return before the end of October. Each year, however, countless returns are lodged incorrectly – either accidentally or intentionally by people looking to maximise their refund. As the ATO’s data matching and forensic capabilities increase, Australians need to ensure their return is lodged correctly to avoid unnecessary hassle or even criminal charges.
June 2021 Issue
The June 2021 issue discusses the superannuation guarantee to the unique tax treatment regarding cryptocurrency, and the expertise a Barrister can provide in certain situations. As we are coming into a new financial year, this is a timely reminder to our clients who may be reviewing staff salaries: the superannuation guarantee rate will increase from 9.5% to 10% on 1 July 2021. Be sure to not overlook the superannuation increase and factor this into the total cost of the salary package of your staff.
February 2021 Issue
Our first issue of 2021 covers the JobMaker Hiring credit, single touch payroll, and other updates from the ATO. The JobMaker Hiring Credit scheme was passed into law in mid November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 on the labour market.
December 2020 issue
The last Federal Budget carried with it a number of tax changes that were designed to assist the Australian economy recover from the impact of the COVID-19 pandemic. Among the changes announced was the temporary re-introduction of the loss carry back rules for corporate tax entities (it was previously briefly in force for 2012-13). The ability to carry a loss backwards simply means that a loss incurred in one year can be, effectively, claimed as a tax deduction in a prior year when tax was paid.
November 2020 issue
The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary. Businesses with aggregated annual turnover of less than $5 billion will be able to deduct the full cost of eligible capital assets acquired from 7:30pm AEDT on 6 October 2020 (Budget night) and first used or installed by 30 June 2022. Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
September 2020 issue
Payments such as JobKeeper and the cash flow boost are measures welcomed by many, however they can also bring with them some unique taxation issues. We run over what to look for. Also tackled are claiming tax losses, where vehicles stand in relation to the boosted instant asset write off, the question of liquidity and trusts under COVID-19 conditions, and how SMSFs can best cope with the outcomes from rental relief support measures. Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
August 2020 issue
The JobKeeper payment, which was originally due to run until 27 September, will now continue to be available until 28 March 2021. There will however be some changes to eligibility, as well as a tightening of payment rates. We run through the details. We also reveal a largely unforeseen danger for insurance cover in the early release of super scheme, and look at the unfamiliar territory, from a tax point of view, that COVID-19 has put property investors. Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
July 2020 Newsletter
Despite the current COVID-19 constraints, completing your tax return remains a task we can help achieve to your best advantage. We look at some tax tips for the current tax lodgement period. There is also some good news on the instant asset write-off, and a timely reminder about the importance of being covered against cyber crime. The requirement for corporate entities to hold general meetings has been helped along by allowing this to be completed remotely, and we also remind relevant taxpayers that varying of instalments, if need be, can help you out of a tight spot. Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
June 2020 Issue
The COVID-19 period in everyone’s life continues, and as time goes by more issues keep arising regarding certain tax matters. One such issue, which the ATO has realised may be a concern, is the changed rental property market, and the deductions for expenses that are and are not available. We also consider the issue of passive income and where this figures when qualifying for JobKeeper. There has also been a temporary change made to bankruptcy laws because of the economic fall-out of COVID-19. Also, as tax time does not simply disappear because of a certain virus, we offer some end-of-financial-year last minute tax tips, a warning on issues stemming from property development undertaken by SMSFs, and how resident or non-resident status affects tax outcomes. Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
May 2020 issue
The dominating factor in all our lives at the moment is of course COVID-19. We look at issues that may change the normal deductions taxpayers can make for working from home, plus examine details of the new JobKeeper scheme that both employers and employees will need to know. There is also the early release from superannuation option that may help many people get through this difficult period, and the temporary changes to the instant asset write-off rules, as well as accelerated depreciation, that are available now. Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.