BIS Cosgrove

🚨 COMPANIES BEWARE: Fake "Annual Company Review" letters 🚨

If you're a company director, you might get a letter that looks a lot like an official ASIC renewal notice. It probably isn't.

These “Annual Company Reviews” come from third party providers, and the "review fee" they're asking for is NOT a bill.

While not technically illegal, they're designed to use your real company details to incite urgency, and can be easily mistaken for an official ASIC bill.

The giveaway? A small disclaimer, usually near the bottom, saying something like "We are independent of ASIC. This is not a bill. You do not have to pay any money."

If one lands in your mailbox and you're unsure of its validity, don't pay straight away!

Contact our team to verify when your renewal actually is due, upcoming deadlines and any amounts you may have owing.

WE'RE HIRING! 👥

We're on the hunt for a superstar Client Services & Administration Assistant to join us part time (~30 hours a week) in our Palm Beach or Brookwater offices.

About you:
- You’re friendly, organised, proactive and naturally curious.
- You’re open to learning new systems and processes.
- Previous experience in public practice accounting, financial planning or other professional services is highly regarded.
- Experience with Xero, ATO Portal, ASIC Connect and Microsoft Suite.

Responsibilities include:
- Managing client accounts, enquiries and record keeping.
- Liaising with the ATO, ASIC and other agencies.
- Assisting with tax lodgement and preparation.
- Handling invoicing and accounts receivable.
- Assisting with day to day office procedures.

If this sounds like you or someone you know, we'd love to hear from you! Apply here: https://www.biscosgrove.com.au/careers/

📩 or submit your resumé to [email protected]

New Director ID rules are coming 📢

From 1 July 2027, companies will be required to formally report Director ID Numbers to ASIC as part of a push to reduce fraud and keep Australia's business registers accurate.

While there's nothing urgent to do just yet, it's worth checking that:
✅ You and any co-directors have a director ID
✅ Your company details are current
✅ Director info matches across the ASIC and ABRS registers

Read the full breakdown on our blog 👇

Director ID Requirements are Changing Director ID reporting rules are changing beginning 1 July 2027. Here’s what’s changing, what you need to know and how BISCosgrove can help you get ready.

Negative gearing rules have changed. So what does that mean for you?

Read the full breakdown on our blog 👇

Negative Gearing Changes: What You Should Know Negative gearing changes are now law, beginning 1 July 2027. Find out if your rental property is grandfathered and what the new rules mean for you.

Recently, the man behind it all, our fearless leader Brian, was honoured at the CPA Australia Membership Recognition Ceremony.

He was awarded his Recognition of Service for an incredible 50 YEARS as a Certified Practising Accountant.

We feel incredibly lucky to have him at our helm, and his experience and passion have shaped who we are as a firm. He continues to inspire us every day.

Congrats BC! We are all so proud of you! 👏💙

Turns out the biggest threat to your investment returns isn't the market... it's you. 👀

Panic selling. FOMO buying. Trying to time the market. How much is it all really costing you? 🚫

Find out how the right adviser helps you stay out of your own way and avoid common investor mistakes.

Is Hiring A Financial Adviser Worth The Cost? Is hiring a financial adviser really worth the cost? Here’s what 5 major financial institutes had to say about the value of an adviser.

ASIC has named a further 19 entities involved in lead generation that may be encouraging Australians to unnecessarily switch their superannuation, as part of an ongoing review into ethical and sustainable practices in the finance sector. 🚨

Read the full post on our blog: https://www.biscosgrove.com.au/blog/asic-exposes-19-more-superannuation-lead-generators/

The Federal Government's shock ban on new residential LRBAs in SMSFs has left many trustees wondering what comes next.

And while this might be the most significant change we've seen in years, it's NOT the end of SMSFs as we know it.

So before you panic, find out:
✔️ How the ban affects you
✔️ What's still allowed
✔️ What happens to existing LRBAs
✔️ SMSFs strategies moving forward

Read everything you need to know about the ban here: https://www.biscosgrove.com.au/blog/smsf-trustees-hit-with-shock-ban-on-residential-lrbas/

Residential LRBAS BANNED in SMSFs The Government has banned new residential SMSF LRBAs from 10 August 2026. Learn who is affected, what’s still allowed, and what your options are moving forward.

Payday Super is here! 📣

As of 1 July 2026, employers are now required to pay employee super at the same time as their wage.*

Here are the key details:
☑️ Super must reach the employee’s fund within 7 days.
☑️ Super frequency changes, but the amount does not.
☑️ Your super is processed the same time as your regular pay cycle (weekly, fortnightly, etc.)
☑️ Employers have up to 20 days for a new employee’s first super contribution.

Want to know more? Click here: https://www.biscosgrove.com.au/blog/payday-super-is-here/

*Exemptions apply for new and closely held employees

🚨 SMSF TRUSTEES: DON'T PANIC. READ THIS FIRST. 🚨

You've probably already seen the headlines about the Australian Government's ban on Limited Recourse Borrowing Arrangements (LRBA) in SMSFs.

This is one of the biggest changes to SMSFs we've seen in years, and to many, has come as a major shock.

The good news? The ban is prospective, meaning it will not affect any existing arrangements.

SMSFs will also still be able to:
✔️ Invest in residential property (just not borrow)
✔️ Borrow to invest in commercial real estate

If you're concerned about how these proposed changes may affect your SMSF, we're here to help. Get in touch with one of our SMSF Specialist Advisers on 07 5598 3800.

In the meantime, watch this space. We'll be releasing our full update soon!