Octopus Accounting & Tax Advisory

20/10/2026

ATO scam warning

The ATO has received concerning reports of a new email impersonation scam claiming to be from the ATO.
The email states that a phone appointment with the ATO has been scheduled and includes appointment details such as the date and time.
The email claims that recipients must open an attachment included in the email to securely access relevant services or reschedule the appointment.
The attachment contains a link to a legitimate looking myGov sign-in page designed to steal usernames, passwords and other personal information.

The ATO has confirmed that it will never:
1. email an attachment containing a link to a myGov sign-in page;
2. ask recipients to access ATO services through links in unsolicited emails;
3. direct recipients to a login page that is not hosted on an official myGov or ATO website; or
4. request a myGov username, password or security code via email.
The ATO has advised recipients not to respond to the email or interact with it in any way.

13/10/2026

Director hat on: company money is not a personal wallet
ASIC has launched its Small Business Director Essentials hub, with a director roadmap, practical guidance and free learning modules.
It is a useful reminder that directors are expected to understand the company’s financial position — not just sign whatever appears at year end.

• Review overdue tax, super, suppliers and loans at least monthly.
• Know who can access the bank, payroll, ATO and ASIC records.
• Record important decisions and act early if cash flow is tightening.
• Have director or shareholder drawings reviewed before they become a Division 7A or cash-flow problem.

06/10/2026

The ATO is looking under the bonnet

The ATO’s motor vehicle registries data matching program covers the 2025–26 to 2029–30 financial years. Data can include purchase and sale details, market value, garage address, intended use, vehicle specifications and registration
information. It may be compared with GST, FBT, fuel tax credit and income tax records.

Before the records disagree with each other, check that:
• vehicle purchases, finance and disposals are recorded correctly in the accounts;
• GST treatment is supported by tax invoices and actual business use;
• logbooks, odometer records and private-use evidence are current; and
• FBT has been considered before a vehicle is treated as ‘business only’ or exempt.

OUR TAKE: Buying the vehicle through the company does not automatically make every kilometre business use. Make the tax treatment match the real use — and keep the evidence while it is easy to collect

29/09/2026

Payday Super: the seven-business-day clock is running
Since 1 July 2026, super generally needs to be received by the employee’s fund within seven business days after payday. The key word is received. Pressing ‘pay’ in the payroll system is not the finish line if the clearing house or fund later rejects the contribution.
A practical payroll routine:
• Verify fund details before the first payment using the new member verification request (MVR).
• Know your provider’s cut-off times — a Friday pay run and a public holiday can quickly eat into the seven-day window.
• Check rejection and return reports after every pay run, then correct errors immediately.
• Keep evidence of submission, acceptance and any follow-up. Good intentions are easier to show when the audit trail exists.
OWNER ACTION:
Ask your payroll provider one simple question: ‘Can our current
process prove super reached each fund on time?’ If the answer is
vague, fix the workflow now.

23/09/2026

Your September owner checklist
1. BAS cash
Estimate the September-quarter GST, PAYG withholding and PAYG instalment before the quarter ends.
2. Debtors
Review invoices over 30 days and assign a person and date for follow up.
Margins Compare gross margin with budget and last year. Sales Margins Compare gross margin with budget and last year. Sales growth is less exciting if margin is leaking.
3. Payroll
Reconcile wages, PAYG withholding and super after each pay run; clear rejected super quickly.
4. Contractors
Confirm super and reporting treatment for regular contractors.
5. Vehicles
Check logbooks, private use, finance balances and any vehicle sold or traded in.
6. Owner drawings
Reconcile director/shareholder loan accounts before deciding on dividends or repayments.
FIVE NUMBERS WORTH KNOWING BEFORE OCTOBER
You do not need a 30-page management report.
Start with available cash, tax cash set aside, debtors over 30 days, gross margin percentage and the director/shareholder loan balance. If one of those numbers is unknown, that is the first job for the next finance meeting

15/09/2026

ATO warning on property manager reports
The ATO is warning rental property owners that expenses shown in property manager reports may not always be classified correctly for income tax purposes.
Common issues identified by the ATO include:
1. capital expenses, including initial repairs, being claimed as current-year deductions;
2. expenses being grouped together without sufficient detail to determine
3. discrepancies in accounting methods used when expenses are actually incurred versus when they are paid; and
4. private expenses incorrectly included, such as costs relating to the owners’ personal use of the property.

08/09/2026

ATO warning on home occupancy expense claims
The ATO has identified that some taxpayers are incorrectly claiming rent, mortgage interest and other occupancy expenses as part of their work-from-home expenses.
To claim occupancy expenses, a taxpayer must be able to demonstrate that:
1. the area of their home they used for work purposes is a 'place of business';
2. if they are an employee, it was necessary for them to work from home because their employer did not provide an alternative 'place of business' to work from; and
3. the nature of their income-earning activities requires them to have a 'place of business'.
Factors that may indicate whether an area has the character of a 'place of business' include whether the area is:
1. clearly identifiable as a 'place of business';
2. not readily capable of private or domestic use;
3. exclusively or almost exclusively used for carrying on a business; and
4. used regularly for client or customer visits.
Taxpayers who are eligible to claim occupancy expenses can claim a portion of those expenses based on floor area, the period they worked from home, and their ownership of the property.

07/09/2026

There has been another important update to the proposed 30% minimum tax on discretionary trusts.

The latest draft introduces a new option that may allow some existing family trusts to remain as trusts and avoid the 30% minimum tax, provided they effectively lock in fixed beneficiaries and fixed distribution percentages.

That is quite different from the original impression that many trust owners may need to either accept the 30% minimum tax or restructure into another entity.

Our view

Our view is that the Government started with a fairly hard position and is now adjusting the proposal through consultation.

That is exactly why I have been telling clients not to rush into restructuring.

The policy has already changed materially, and it may change again before legislation is passed.

Today we are discussing:

a 30% minimum trust tax;
restructuring concessions;
new fixed-distribution elections;
different treatment for bucket companies; and
various exclusions.

Six months from now, some of those rules may look different again.

What does this mean for trust owners?

The important message is:

Do not panic. Do not restructure just because of a headline. But do not ignore it either.

If you operate a business or hold significant investments through a family trust, you should understand how the proposal may affect you and keep your structure under review.

There may eventually be three broad choices:

1. Keep the discretionary trust and accept the new tax rules.
2. Keep the trust but elect into a more fixed distribution arrangement.
3. Restructure into another entity.

Which one is best will depend on your business, investments, beneficiaries, succession plans and long-term objectives.

Most importantly — it is still not law

This is still a proposal.

Nothing is legislated yet.

Tax policy can change significantly between announcement, consultation, draft legislation and the final law.

So at this stage, the best strategy is to stay informed, understand your options and avoid making irreversible decisions too early.

At Octopus Accounting & Tax Advisory, we will continue following the changes and updating clients whenever there is something meaningful to know.

The 30% trust tax story is not finished yet.

Send a message to learn more

01/09/2026

The ATO is obtaining Australian electoral roll information from the Australian Electoral Commission as part of its ongoing data-matching program.
The information will be compared with the ATO’s existing records to identify non-compliance with tax and superannuation obligations.
The data collected may include registered voters’ names, residential addresses, s*x, dates of birth and occupations.
The ATO estimates it will receive records relating to approximately 18 million individuals each quarter.

25/08/2026

The ATO has published a Division 7A benchmark interest rate of 8.77% for the income year ending 30 June 2027, up from 8.37% for the previous income year.