TSP Accountants & Business Advisors

🏠 Big changes to property investing are on the way - and if you own or are thinking about buying an investment property, you need to know about them.

The 2026–27 Federal Budget announced two major reforms that could significantly change how your investment property is taxed:

✅ Negative gearing for established properties is being restricted from 1 July 2027 - rental losses will no longer be deductible against your salary income
✅ The 50% CGT discount is being replaced with inflation indexation and a 30% minimum tax rate on gains from 1 July 2027
✅ New builds remain fully exempt from both changes

The good news for existing investors: properties you already held at Budget night (12 May 2026) are grandfathered under the old rules. 👍

Our Director Deidre Molloy has written a plain-English guide to exactly what’s changing and what to do next. 👇
https://www.tspaccountants.com.au/negative-gearing-and-capital-gains-tax/

Questions? Call us on 4926 4155 or email [email protected]. Happy to help! 💬

Negative Gearing and Capital Gains Tax Explore helpful articles from TSP’s accounting specialists. Read our Negative Gearing and Capital Gains Tax post and learn simple advice on tax, bookkeeping.

Tick Tock! ⏰

30 June is only 18 days away! 🗓️

Is your small business EOFY checklist done? ☑️

From the $20,000 instant asset write-off to getting your super contributions in on time, there's still plenty you can do before the financial year closes.

Our Director Deidre Molloy has put together a practical last-minute checklist covering everything small business owners should be looking at right now, including some important heads-up on the Budget changes coming in the new financial year.

Read the full article click below.

Or if you'd rather just pick up the phone, we're here to help. Call 4926 4155 or email [email protected]

Last-Minute EOFY Checklist Every Small Business Owner Needs Right Now EOFY checklist every small business owner need right now. Your cheat sheet to ensure you are prepared by 30 June by TSP Accountants & Business Advisors.

🚨 The Federal Budget just changed the rules on tax, trusts, and property investment - and it affects more Australians than people realise.

Treasurer Jim Chalmers handed down the 2026/27 Budget on 12 May and called it the Government's most ambitious yet. We agree. The changes are significant and some of them start as early as 1 July 2026.

We have spent the past few weeks carefully working through every measure to pull out what actually matters for our clients - because there is a lot of noise out there and we wanted to give you something genuinely useful rather than a rushed reaction.

Here is a taste of what is coming:

👩‍👩‍👧‍👧If you have a family trust, a 30% minimum tax on distributions is on its way from 1 July 2028. The flexibility that made discretionary trusts such a useful structure for income splitting is being reined in considerably.

🏠If you hold investment assets - property, shares, anything with a capital gain - the 50% CGT discount you have always relied on will be replaced from 1 July 2027 with a cost base indexation model, plus a new 30% minimum tax on gains. Pre-CGT assets are no longer exempt from that date either.

📈And for small businesses, some genuinely good news: the instant asset write-off threshold is being permanently set at $20,000 from 1 July 2026. No more guessing whether a temporary threshold will be extended.

We have pulled all of this together into a free Federal Budget whitepaper that covers every measure that matters for individuals, investors, business owners, and employers - all in plain English, no jargon.

👉 Download your free copy here:
https://www.tspaccountants.com.au/free-federal-budget-whitepaper/

No fuss, no spam - just a genuinely useful summary from the team that has been helping Newcastle and the Hunter Valley make sense of budget releases for 43 years
Questions?
Call us on (02) 4926 4155 or email [email protected]

Thinking about selling your business? There’s a recent court case every business owner should know about. 📋

The Kilgour decision, handed down by the Full Federal Court in 2025, has some important lessons for anyone who owns a minority stake in a business and is heading towards a sale. The short version? If you’re selling alongside other shareholders as part of a coordinated deal, the ATO may not accept a minority discount on your shares - and that could affect your access to valuable small business CGT concessions.

I’ve written a full breakdown on the TSP blog, including what the case means in practice and the three things I’d encourage every business owner to do before signing any agreement.

The most important one? Talk to your accountant early. The sooner we look at your structure and your eligibility for concessions, the more options we have to work with.

Read the full article at the link below, or give us a call on 4926 4155 if you’d like to chat about your situation. 📞
👉https://www.tspaccountants.com.au/kilgour-case-cgt-business-sale-valuations/

What the Kilgour Case Means for Your Business Sale | TSP The Kilgour case changed how the ATO values minority interests in business sales. Deidre Molloy explains what this means for your CGT position before you sign.

📋 Is your SMSF audit sorted for this financial year?

Every self-managed super fund must be independently audited each year - and your auditor needs to be appointed at least 45 days before your annual return is due. That deadline comes around faster than you'd think!

Our Director Deidre Molloy is a registered SMSF auditor with ASIC, and she's written a handy guide to exactly what happens during an SMSF audit - from the engagement letter through to the auditor's report.

If you're a trustee who wants to understand the process better, or if you're still looking for an auditor for this year, give us a call.

👉 Read the article: https://www.tspaccountants.com.au/smsf-annual-audit-explained/
📞 Call us: 4926 4155
📧 Email: [email protected]

Your SMSF Annual Audit Explained | TSP Accountants Newcastle Every SMSF must be audited each year by a registered SMSF auditor. TSP's Deidre Molloy explains what to expect, what you need to prepare, and why it matters.

⚠️ Is someone offering to help you access your super early?
🛑STOP and read this.

We know times can be tough, and the idea of getting your hands on your super savings might seem tempting when the bills are piling up. But here's what you need to know: in most circumstances, accessing your super early is illegal - and the consequences are very real.

The ATO is actively cracking down on "promoter schemes" where people are convinced to set up a self-managed super fund to access their super for things like paying off credit card debt or personal expenses. These schemes can cost you your retirement savings, land you with big tax penalties, and even get your name published publicly as a disqualified SMSF trustee.

If someone has approached you about this, don't sign anything, don't hand over your personal details, and contact the ATO on 13 10 20 straight away.

Unsure where you stand with your super? Our own Deidre Molloy is an SMSF specialist who has been helping Hunter Valley clients navigate exactly these questions. We're always here for a chat - no judgement, just good advice.

📖 Read Deirdre's full article on the blog:
📞 Call us on 4926 4155
📧 [email protected]

Is your work vehicle arrangement actually FBT-compliant? 🚗

The ATO is stepping up its focus on employers who provide vehicles to staff, and their data-matching capabilities are sharper than ever. That means assumptions, especially around dual-cab utes being automatically FBT-free, can be costly.

David Apps from our team has written a practical rundown of what employers need to know ahead of the 21 May FBT lodgement deadline, including records you should have in place right now.

Worth a read if you've got vehicles in your business.

👉 https://www.tspaccountants.com.au/is-your-business-vehicle-fbt-compliant-the-ato-is-watching/

Questions? Call us on 4926 4155 or email [email protected]

Is Your Business Vehicle FBT-Compliant? The ATO Is Watching. The ATO is using data-matching to crack down on FBT non-compliance for work vehicles. David Apps from TSP Accountants Newcastle explains what employers need to know before 21 May.