C Teunissen & Associates

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C Teunissen & Associates Accounting Services C. These services are always provided in a friendly, courteous and consistent manner and with the utmost of confidentiality. At C.

Teunissen & Associates is a medium sized public CPA accountancy practice which has been successfully servicing and advising businesses since 1969. The practice is well positioned in the Norwood area and services and audits businesses from all regions of South Australia as well as interstate. Teunissen & Associates aim to provide clients with relevant, efficient and effective accountancy and audit services which are professional, valuable and pro-active. Teunissen and Associates, our friendly staff are highly qualified and well trained and offer a full range of accounting services.

13/10/2026

PERSONAL TAXATION

Personal tax rates: existing cuts for
2026–2027 and 2027–2028
unchanged.

In the Budget, the Government did not announce any
further changes to the personal tax rates. However,
the proposed new $250 working Australians tax offset
(WATO) from 1 July 2027 is expected to increase the
effective tax-free threshold for income derived from
work by nearly $1,800 to $19,985 (or up to $24,985 for
workers eligible for the low income tax offset (LITO).

The already-legislated tax cuts announced in the
2025–2026 Budget will apply from 1 July 2026 and
1 July 2027. The resident personal income tax rate for
the taxable income bracket from $18,201 to $45,000
will reduce from 16% to 15% for the 2026–2027
income year, and then to 14% for the 2027–2028 and
later income years. These changes reduce the tax
payable for resident taxpayers by up to $268 from
1 July 2026, rising to up to $536 from 1 July 2027.

Current rates
The tax rates and income thresholds for residents for
2025–2026 (unchanged) are:
• taxable income up to $18,200 – nil;
• taxable income of $18,201 to $45,000 – nil plus
16% of excess over $18,200;
• taxable income of $45,001 to $135,000 – $4,288
plus 30% of excess over $45,000;
• taxable income of $135,001 to $190,000 – $31,288
plus 37% of excess over $135,000; and
• taxable income of more than $190,001 – $51,638
plus 45% of excess over $190,000.

Rates for 2026–2027
The tax rates and income thresholds for residents for
2026–2027 are:
• taxable income up to $18,200 – nil;
• taxable income of $18,201 to $45,000 – nil plus
15% of excess over $18,200;
• taxable income of $45,001 to $135,000 – $4,020
plus 30% of excess over $45,000;
• taxable income of $135,001 to $190,000 – $31,020
plus 37% of excess over $135,000; and
• taxable income of more than $190,001 – $51,370
plus 45% of excess over $190,000.

Rates for 2027–2028
The tax rates and income thresholds for residents for
2027–2028 are:
• taxable income up to $18,200 – nil;
• taxable income of $18,201 to $45,000 – nil plus
14% of excess over $18,200;
• taxable income of $45,001 to $135,000 – $3,752
plus 30% of excess over $45,000;
• taxable income of $135,001 to $190,000 – $30,752
plus 37% of excess over $135,000; and
• taxable income of more than $190,001 – $51,102
plus 45% of excess over $190,000.

Low income tax offset (unchanged)
No changes were made to the low income tax offset
(LITO) in the 2026–2027 Budget.

For completeness, and as a reminder, while the low
and middle income tax offset (LMITO) ceased from
1 July 2022, low and middle income taxpayers remain
entitled to the LITO.

Important:
The maximum amount of the LITO is $700. The LITO
is withdrawn at a rate of 5 cents per dollar between
taxable incomes of $37,500 and $45,000 and then at a
rate of 1.5 cents per dollar between taxable incomes of
$45,000 and $66,667

14/05/2026

2026 FEDERAL BUDGET:

The major tax-related measures announced in the Budget include:

50% CGT discount abolished — to be replaced with an inflation-adjusted indexation method from 1 July 2027
(subject to transitional arrangements) for all CGT assets held by individuals, trusts and partnerships for more than 12
months. An exception will apply for new builds of residential properties.

CGT minimum 30% rate — will apply on realised gains (including for pre-1985 assets) from 1 July 2027. Income
support payment recipients, including Age Pension recipients, will be exempt from the minimum tax.

Minimum 30% tax on discretionary trusts — from 1 July 2028 a minimum tax of 30% will apply to the taxable
income of discretionary trusts. However, it will not apply to other types of trusts, including fixed and widely held trusts,
complying super funds, special disability trusts, deceased estates and charitable trusts.

Negative gearing — to be limited to new builds from 1 July 2027. Residential properties currently owned at Budget
time (7:30 pm AEST 12 May 2026) will be excluded until they are sold.

A new $250 working Australians tax offset (WATO) will apply from 1 July 2027 to all eligible Australian workers
for their income derived from work.

Personal tax rates - the Budget confirmed the already-legislated reduction in the resident personal income tax rate
from 16% to 15% (from 1 July 2026) and to 14% (from 1 July 2027) for the taxable income bracket from $18,201 to
$45,000.

$1,000 standard deduction - confirmed for work-related expenses from the 2026-27 income year.

$20,000 instant asset write-off for small businesses - permanently extended.

Loss carry-back regime - to be reintroduced from 1 July 2026 for businesses with an aggregated annual global
turnover of less than $1 billion.

FBT exemption for EVs - the full FBT exemption for electric vehicles (EVs) will be phased out and replaced with a
temporary $75,000 threshold.

Loss refundability for small start-ups - from 1 July 2028 for start-up companies with aggregated annual turnover
of less than $10m that generate a tax loss in their first 2 years.

Venture capital tax incentives - the asset size caps will be increased from 1 July 2027.

R&D tax incentive - to be overhauled.

28/04/2026

Your guide to the ATO super
clearing house closure :-

If you’re a small business owner who’s been using the
ATO’s Small Business Superannuation Clearing
House (SBSCH) to pay your employees’ super, we’ve
got some news that might make you reach for another
coffee. The free service that’s been making your life
easier is closing down, and you’ll need to find an
alternative before July 2026.

The government has announced that the SBSCH will
be shutting down as part of the new "payday super"
reforms. Here are the key dates:

• 1 October 2025: no new businesses can register
for the SBSCH;

• 30 June 2026: last day existing users can use the
service; and

• 1 July 2026: the SBSCH closes completely.

The closure coincides with new legislation that will
require employers to pay super contributions at the
same time as wages (payday super), rather than using
the current quarterly system. Under these new rules,
super contributions must reach your employees’ funds
within seven days of each payday.

The ATO is pulling the plug because the SBSCH was
designed for the old quarterly super payment system,
and it simply doesn’t fit with the new payday super
world we’re heading into.

If you’re one of the over 200,000 small businesses
currently using the SBSCH, this change will impact you
in several ways:

• You’ll need to find a new solution before the June
2026 deadline.

• Costs might increase – the SBSCH is free to use,
but many alternative solutions charge fees.

• Timeframes will be tighter – under the new rules
from 1 July 2026, super contributions must reach
funds within seven days of payday.

• Your processes will change because you’ll need to
integrate super payments into every pay run.
If you’re already using payroll software for wages,
payroll software with built-in super payments might be
your easiest transition. Many popular accounting
packages now include super payment features that let
you pay contributions directly through the same
system you use for payroll. The beauty of these
integrated solutions is that once you’ve run payroll,
paying super can be as simple as clicking a button.
Most super funds also offer free clearing house
services to employers. These typically require you to
register as an employer with that fund, but then you
can manage contributions to multiple funds in one
place. The main trade-off is that you’ll need to use a
separate web portal and either upload data from your
payroll system or enter it manually.

There are also independent commercial providers.
These tend to offer more sophisticated features and
can handle high volumes of transactions. Commercial
providers often charge fees, but they typically offer
robust compliance features and reliable processing.

The ATO recommends starting your transition early –
don’t wait until 2026. This gives you time to test your
new process and iron out any issues before the
deadline.

28/04/2026

Time’s running out for small
business super clearing house
users:-

If you’re one of the thousands of small businesses
using the Small Business Superannuation Clearing
House (SBSCH), you need to act now. The service will
permanently close on 1 July 2026. From that date, the
SBSCH will no longer process payments or allow
access to historical records. The closure is part of the
government’s payday super reforms, which aim to
modernise how employers pay superannuation.

The ATO recommends making the January to March
2026 quarter your last quarter using the SBSCH,
giving you a buffer to establish your new process.
Your immediate priorities should be:
• Choosing your alternative payment method: Check
if your existing payroll software already includes
super payment functions. Many modern payroll
systems offer integrated superannuation payments
that meet SuperStream requirements.
Alternatively, you can use commercial clearing
houses or online payment services offered by
some large super funds.

• Downloading your records before 1 July 2026: This
is crucial, because once the service closes, your
transaction history and employee details will be
permanently inaccessible. You’ll need these
records for future audits and employee queries.

• Switching early to avoid problems: By transitioning
before the deadline, you’ll have an established
process in place and reduce the risk of late
payments for the April to June 2026 quarter.

The ATO’s SuperStream Product register lists certified
payroll software and service providers that can handle
your super payments. Many offer additional features
like automated calculations, compliance reporting and
integration with your existing accounting systems.
Large super funds also often provide online payment
portals, and commercial clearing houses offer similar
services to the SBSCH but with enhanced features
and ongoing support.

Choosing the right super payment solution depends on
your business size, payroll complexity and existing
systems. The transition also presents an opportunity to
review your entire payroll and super compliance
processes.

Address

52 Queen Street
Norwood, SA
5067

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