Wholistic Financial Solutions

If the ATO has put you on Pay As You Go (PAYG) instalments, it means you’ll be making advance payments toward your expected tax bill based on your last tax return. The idea? Spread the load during the year so you’re not hit with one big bill at tax time.

Common traps:

• Not varying instalments when income changes
• Underestimating tax → ATO interest charges

What to do:

• Review your income regularly
• Set aside tax in a separate account
• Vary instalments via myGov, Business Portal, or through us if your income has changed

Need help understanding your PAYG obligations? Contact our team today.

Here's a quick reminder of what's due this September📅

• 21 September: August monthly BAS / IAS due.

• 30 September: End-of-year STP finalisation due for closely held payees.

Key superannuation thresholds and caps for the 2026-27 financial year:

• Concessional contributions cap: $32,500 (all ages)
• Non-concessional contributions cap: $130,000 (bring-forward up to $390,000 if eligible)
• Transfer Balance Cap: $2.1m from 1 July 2026 (impacts how much can move into retirement phase)
• Super Guarantee rate: 12%

Not sure which cap applies to you or whether you can use bring‑forward?

We can help you check and plan ahead.

Got your Super Statement? Don't just file it away!

Your super statement is a snapshot of how your super is tracking. It shows key information including:

✅ Your super balance
✅ Contributions received from your employer
✅ Any voluntary contributions you've made
✅ Fees and costs associated with your account

A quick check can help you:

✅ Understand how your super is tracking
✅ Make sure contributions are the right amount and going to the right account
✅ Spot anything that doesn't look right

And don't forget to keep your contact details up to date so you receive important information about your super and stay on track for the future.

If your business pays contractors for certain services, you may need to lodge a Taxable Payments Annual Report (TPAR) by 28 August 2026.

TPAR commonly applies to businesses in industries such as:

• Building & Construction
• Cleaning Services
• Courier & Road Freight
• Information Technology
• Security Services
• Labour Hire

Before lodging, make sure you:

✅ Review your contractor payments for 1 July 2025 to 30 June 2026
✅ Confirm ABNs are correct and active
✅ Check payment information is complete and accurate

Getting organised early can help reduce stress, avoid reporting errors, and keep your business compliant.

The best time to prepare your TPAR is right now.

Need help with your TPAR obligations? Contact our office today.

Cryptocurrency leaves a digital trail, especially when it connects with the real world through exchanges.

Exchanges share information through data-matching programs, which means activity can often be traced.

And when you sell, swap, or dispose of crypto, a Capital Gains Tax (CGT) event may occur.

That means you may need to report a capital gain or loss in your tax return.

✅ Keep accurate records

✅ Understand your tax obligations

✅ Don't get caught out at tax time

Unsure how your crypto activity affects your tax return? Contact our office for help.

Claiming a work-related expense this tax time? 📋

Before claiming a deduction, remember the ATO's 3 golden rules:

✅ You must have spent the money yourself and not been reimbursed.

✅ The expense must directly relate to earning your income.

✅ You must have a record to prove it, such as a receipt or invoice.

Keeping accurate records throughout the year makes tax time easier and helps support your claims if the ATO ever asks questions.

Not every expense is deductible, so it's important to understand what you can and can't claim before lodging your return.

Need help working out your eligible deductions? Contact our office before tax time.

Here's a quick breakdown:

👉 Medicare Levy
Most Australians pay this amount to help fund the Medicare system, even if you have private health insurance.

👉 Medicare Levy Surcharge (MLS)
This is an additional charge that may apply if:
✔️ Your income exceeds certain thresholds, and
✔️ You and your family don't have appropriate private hospital cover.

Both are calculated when you lodge your tax return, so you may see one or both included in the calculation of your tax payable or refund.

The amount payable depends on your income and personal circumstances.

Not sure whether the Medicare Levy Surcharge applies to you? Contact our office before lodging your return.

Did you know an ATO audit or review can happen even when you've done everything right?

Responding to requests from the ATO or other government revenue authorities can require significant professional time and expertise, which can result in unexpected accounting fees.

Audit Shield helps protect individuals, businesses, and SMSFs by covering the professional fees incurred when responding to an audit, review, investigation, or other compliance activity.

Gain peace of mind knowing you're protected if an audit activity arises.

Contact our team to learn more about Audit Shield.

Here's a quick reminder of what's due this August 📅

• 21 August: July monthly BAS / IAS due.

• 25 August: Quarter 4 (April–June) Agent Date
• Registered Agent Due Date: Extended final deadline for lodgement and payment of Q4 BAS if your business is registered with a tax agent.

• 28 August: Taxable Payments Annual Report (TPAR) due.