Tax Deductions vs. Tax Offsets: What’s the difference?
Tax deductions and tax offsets both reduce the amount of tax you pay, but they work quite differently:
Tax Deductions: Reduce your taxable income before tax is calculated.
Tax Offsets: Directly reduce the final tax you owe, dollar for dollar.
With the recent Budget announcements of a standard work-related expenses deduction of up to $1,000 and a working Australians tax offset of up to $250, understanding this difference can help you better plan your tax affairs and prioritise strategies.
💡 Need help navigating your tax planning? Connect with our team today.
Camphin Boston
At Camphin Boston, we’re more than just accountants — we’re a team built on collaboration, growth, and genuine connection with both our people and our clients.
At Camphin Boston we have over 30 years experience, our focus has been on delivering an outstanding service, proactively identifying opportunities for our clients, responding promptly and unravelling complexity. Whether you want to grow your business, minimise tax, strengthen internal procedures and controls, navigate your way through complex laws and regulations, or simply free yourself from miles of red tape, we can help.
30/04/2026
Is your business navigating the challenges of rising input costs or global supply chain disruptions?
The Australian Government has just opened applications for the $1 Billion Economic Resilience Program.
This is a game-changer for Sydney’s manufacturing and freight hubs. Eligible businesses can now access zero interest loans to bolster their operations and build long-term resilience.
Don’t miss the 6-month window for bank-administered loans. Let’s build your business’s resilience together.
For more information visit: https://www.nrf.gov.au/what-we-do/investment-sub-funds/economic-resilience-program
20/04/2026
Big changes are coming to super… and they could make a real difference to your retirement
With over 2.5 million Australians set to retire in the next decade, the government is introducing new reforms to help you get more from your super when it matters most.
Here’s what you need to know 👇
• New Best Practice Principles to improve retirement income products
• A Retirement Reporting Framework to boost transparency and accountability
• Greater focus on helping you turn your super into a sustainable income
What does this mean for you?
✔️ Better retirement products
✔️ Clearer information
✔️ More support in making confident decisions
Super isn’t just about growing your balance anymore — it’s about how well it supports your life in retirement.
If retirement is on your radar (or already here), now’s the time to review your strategy and make sure you’re set up for what’s next.
01/04/2026
Wishing all our clients and colleagues a safe and wonderful Easter long weekend!
Please note that our office will be closed over the Easter Long Weekend.
We hope you enjoy a well-deserved break with family and friends!
30/03/2026
A little look back at our afternoon on the green last week.
A big thank you to everyone for making it such an enjoyable afternoon.
WorkLifeBalance
The ATO is officially turning up the heat on Fringe Benefits Tax (FBT) regarding work vehicles. If your team is using company cars for weekend trips or school runs, you might be accidentally misreporting.
The most common traps:
- Skipping FBT returns entirely.
- Claiming exemptions that don’t actually apply.
- Messy (or non-existent) record-keeping.
With sophisticated data analytics now in play, the ATO is catching discrepancies faster than ever. Don’t wait for a “please explain” letter to land on your desk.
12/02/2026
SMALL BIZ OWNERS: The SBSCH is closing forever. 🚨
If you use the Small Business Superannuation Clearing House, your workflow is about to change. As part of the new Payday Super reforms, the government is officially retiring the service on 1 July 2026.
Here is your “No-Panic” Transition Plan:
1️⃣ Switch by March: The ATO recommends making the Jan–March 2026 quarter your last one on the platform. Don’t wait until the June rush!
2️⃣ Download your data: After July 1, your records are GONE. Export your payment history and employee details NOW for your tax audits.
3️⃣ Check your software: Most modern payroll systems (like Xero or MYOB) already have built-in SuperStream tools. You might already have the solution at your fingertips.
Who is affected? Existing users with 19 or fewer employees or
03/02/2026
As 2026 kicks off, it’s time to ensure your business is claiming every dollar it deserves and staying ahead of the ATO.
Here is your checklist for GST, Fuel Tax Credits, and your BAS.
23/12/2025
We’re wrapping up the final day of the year with our favorite tradition: Bad Santa. From “thoughtful” gifts to “why does this exist?” gadgets, it’s been an afternoon of laughs and chaos.
Happy Holidays from our team to yours! See you in 2026.
18/12/2025
As we approach the end of a busy and successful year, the team would like to thank you for your continued trust and partnership.
Please be advised that our office will be closing for the holiday period.
Office Closing: Wednesday 24th December 2025
Office Reopening: Monday 5th January 2026
We wish you and your family a very Merry Christmas and a prosperous New Year. We look forward to working with you again in 2026.
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Level 5, 179 Elizabeth Street
Sydney, NSW
2000
Opening Hours
| Monday | 8:45am - 5:15pm |
| Tuesday | 8:45am - 5:15pm |
| Wednesday | 8:45am - 5:15pm |
| Thursday | 8:45am - 5:15pm |
| Friday | 8:45am - 5:15pm |