Craig Baker & Associates

The Government has legislated several measures from the 2026 Federal Budget, including replacing the CGT discount with cost base indexation and a 30% minimum tax on gains from 1 July 2027, lifting the small business turnover threshold for the 50% active asset reduction from $2 million to $10 million, and introducing a $1,000 instant deduction for work-related expenses from 1 July 2026.

These changes affect how gains, small business concessions, and work-related deductions will be calculated in the years ahead. Planning ahead of the relevant start dates matters.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We're here to help!

📊 Taxes? We’ve Got This! 📊

Don’t let tax season slow you down. We’ll handle your returns with care and precision—so you can get back to doing what you love.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We’re here to help!

The ATO is reminding taxpayers they may have superannuation held on their behalf, including unclaimed super from inactive accounts, employer contributions that couldn't be paid to a fund, and certain government contributions.

It only takes a few minutes to check through myGov, ATO online services, or the ATO app, and any funds found can be consolidated into your active account.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We're here to help!

🛡️ Your Taxes, In Trusted Hands 🛡️

No more tax-time stress. Our dedicated professionals ensure your returns are filed accurately and on time—while you focus on what matters most.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We’re here to help!

The Administrative Review Tribunal recently found that an oral health therapist engaged by a dental clinic was an employee for super guarantee purposes, despite being treated as a contractor.

Key factors in the decision included how integrated she was into the practice's team, her inability to delegate the work, and the fact she couldn't practise independently of the clinic.

Getting worker classification wrong can leave a business liable for unpaid super guarantee charges, even with a contractor agreement in place.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We're here to help!

💼 Tax Returns Done Right 💼

Save time, avoid mistakes, and get the most from your return. Let our experienced team take care of your taxes so you don’t have to.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We’re here to help!

Businesses can no longer claim a deduction for general interest charge (GIC) or shortfall interest charge (SIC) incurred from the 2025-26 income year onward.

In practice, this makes staying on top of payment deadlines and lodgement accuracy more valuable than ever, these charges now land at full cost with nothing to offset them.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We're here to help!

🧾 Stress-Free Tax Season Starts Here! 🧾

Don’t sweat the numbers—we’ve got your tax returns covered. Our experts handle the paperwork so you can focus on running your business (or enjoying life). Accurate. Reliable. Hassle-free.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We’re here to help!

The car limit for the 2027 income year has been set at $69,883, the highest value a business can use to calculate depreciation on a car used for work purposes. The maximum GST credit generally claimable on a car above this limit is $6,353.

The luxury car tax threshold for 2026-27 is $91,661 for fuel-efficient vehicles and $80,809 for other vehicles.

Have questions or ready to get started? Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700. We're here to help!

📊 Taxes? We’ve Got This! 📊

Don’t let tax season slow you down. We’ll handle your returns with care and precision, so you can get back to doing what you love.

Have questions or ready to get started?

Email us at 📧 [email protected] or give us a call on ☎️ 5537 7700.

We’re here to help!