Flor-Hanly

Director ID reporting requirements are changing from 1 July 2027.

While there’s nothing new to lodge just yet, now is the time to check that your company and director details are accurate.

A quick review today can help you avoid delays and compliance issues when the new ASIC reporting requirements commence.

Read what’s changing and what you should do now:
https://www.florhanly.com.au/blog/important-changes-to-director-id-obligations

ASIC Home | ASIC Fair, strong and efficient financial system for all Australians.

Parliament has passed several tax changes for businesses from 1 July 2026.

We outline the key things business owners need to know:
https://www.florhanly.com.au/blog/new-tax-reforms-pass-parliament

Pay contractors? You may need to lodge a TPAR 📨
Lodge your Taxable Payments Annual Report (TPAR) electronically as the ATO no longer accepts paper copies.

Check your records are complete and lodge online by 28 August each year to meet your reporting obligations.
https://www.ato.gov.au/businesses-and-organisations/preparing-lodging-and-paying/reports-and-returns/taxable-payments-annual-report

Learn how Australia’s new Anti-Money Laundering and Counter-Terrorism Financing laws from 1 July 2026 may affect your dealings with us, including when client identity verification may be required.

https://www.austrac.gov.au/changes-amlctf-obligations-what-you-need-do

Fuel tax credit rates updated again on 3 August ⛽️
Fuel tax credit rates are ordinarily indexed in February and August in line with CPI. However, temporary fuel excise measures have resulted in additional rate changes in recent months. Different rates may apply within the same BAS period.
https://bit.ly/fueltaxcreditratesforbusiness

Use the ATO's fuel tax credit calculator to apply the correct rates when preparing your BAS and keep appropriate records to support any claims. Call Flor-Hanly for fuel tax BAS help on 07 4963 4800.

Instant asset write-off extended permanently 🪜
The $20,000 Instant asset write-off will be permanent from 1 July 2026. Small businesses with turnover up to $10 million will be able to immediately deduct eligible assets costing less than $20,000.
https://www.ato.gov.au/about-ato/new-legislation/in-detail/businesses/20000-dollars-instant-asset-write-off

Call us for Instant asset write-off help on 07 4963 4800.

A new financial year has begun. Do you have a plan for where your business is heading?
https://www.florhanly.com.au/grow-your-business

Too many businesses spend their time reacting to challenges rather than working towards clear goals. While hard work and persistence are important, sustainable growth rarely happens by accident.

Whether your goal is improving profitability, managing cash flow, expanding operations, investing in new opportunities or creating a better lifestyle, the start of a new financial year is the perfect time to step back and review your direction.

Business planning is not about predicting the future. It is about creating focus, identifying opportunities, managing risks and making better decisions along the way.

To make the 2026-27 financial year your most successful yet, talk to the Flor-Hanly team on 07 4963 4800 about developing a practical plan for growth.

REMINDER Minimum wages increased from 1 July 📣
The Fair Work Commission increased the minimum wage by 6% for the nation’s lowest-paid workers, while the majority covered by modern awards receive an increase of 4.75%.

The new rates came into effect 1 July.
https://www.fairwork.gov.au/about-us/workplace-laws/annual-wage-review/annual-wage-review-2026

Fuel tax relief continues throughout July ⛽️
Fuel excise cuts have been extended, taking 16 cents per litre off the price of petrol and diesel from 1 July to 2 August.

The heavy vehicle road user charge is also cut by 16 cents per litre for the same period to extend relief for freight and transport operators.

Visit http://FuelPlan.gov.au for information on Australia’s fuel supply and what the government is doing.

FuelPlan.gov.au Fuel continues to flow, with additional coordination and precautionary measures in place in response to the current global situation. Read the 4-level national plan.

The Federal Government’s tax reform package has now passed Parliament, bringing significant changes to Australia’s capital gains tax rules and other tax measures.
https://www.accountantsdaily.com.au/tax-compliance/22595-controversial-cgt-changes-clear-both-houses-of-parliament-2

For business owners, investors and individuals alike, it’s important to understand what these changes could mean for your future planning and investment decisions.

We’re monitoring the details closely and will continue to share practical updates as the legislation is implemented. If you’re unsure how the reforms may affect you, speak with Flor-Hanly early.

Controversial CGT changes clear both houses of parliament Legislation to replace the 50 per cent CGT discount with cost base indexation and implement a 30 per cent minimum tax on capital gains has now passed both houses.