Abercrombie Accounting Group

Payday Super is on the way!

The ATO has released a new checklist to help employers prepare for paying super each payday from 1 July 2026. It steps through what you need to do, when to do it, and how to stay compliant.

The resources help businesses understand the changes, plan their transition, and get ready to switch to payday super.

🔔 If you currently use the Small Business Superannuation Clearing House (SBSCH), be aware this service will close on 1 July 2026.

Access the full Payday Super resources at ato.gov.au/paydayresources.

Payday Super resources Resources to help you understand and get ready for Payday Super.

PAYG Instalments: Not Just for Businesses!

📢 Tax return lodged … then a PAYG instalment notice arrives?
You’re not alone! Many people think PAYG (pay as you go) instalments are only for businesses - but individuals can be included too.

💭 Why does the ATO do this?
PAYG instalments spread your tax across the year so you don’t get hit with a large bill at tax time. The ATO estimates your tax based on previous returns and breaks it into quarterly payments that are credited against your final tax.

⚖️ Think the amount is off?
No problem! You can vary your PAYG instalments when lodging your activity statement or instalment notice.
• Paid too much? 👉 You’ll receive a refund after lodging your tax return.
• Paid too little? 👉 The shortfall will be payable.

Not sure if PAYG instalments apply to you or whether your amount is right?
📞 Contact our office - we’re happy to help!

𝗠𝗲𝗿𝗿𝘆 𝗖𝗵𝗿𝗶𝘀𝘁𝗺𝗮𝘀 𝗮𝗻𝗱 𝗛𝗮𝗽𝗽𝘆 𝗛𝗼𝗹𝗶𝗱𝗮𝘆𝘀! 🎄

Thank you to our valued Clients for their support throughout 2025.

The AAG team will be taking a short break over the festive season to rest and recharge.
Our office will 𝗰𝗹𝗼𝘀𝗲 𝗮𝘁 𝟮𝗽𝗺 𝗼𝗻 𝗙𝗿𝗶𝗱𝗮𝘆, 𝟭𝟵 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟱 and 𝗿𝗲𝗼𝗽𝗲𝗻 𝗼𝗻 𝗠𝗼𝗻𝗱𝗮𝘆, 𝟭𝟮 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝟮𝟬𝟮𝟲.

We wish you all a safe and enjoyable holiday period, and look forward to working with you in the new year.

Attention Employers: Prepare for Payday Super!

The ATO's Payday Super legislation is now law and will take effect from 1 July 2026. This means you’ll need to pay employee super contributions at the same time as wages - essentially, pay super on payday!

Many businesses are already doing this, so don’t wait until the last minute to adapt. Get ahead of the curve and ensure you’re meeting your Super Guarantee obligations.

Inheriting Assets? Know Your Tax Responsibilities.

While there’s no inheritance or estate tax in Australia, inheriting assets may still come with tax obligations. As a beneficiary, it's crucial to understand your responsibilities to avoid any unexpected tax issues.

Want to learn more? Check out the ATO’s guidelines here:

If you are a beneficiary of a deceased estate Work out if there is tax on money or assets you inherited, or are presently entitled to.

$19 billion in lost and unclaimed super – is some of it yours?

The Australian Taxation Office (ATO) has recently released new data revealing there is almost $19 billion AUD in lost and unclaimed superannuation waiting to be claimed by over 7 million Australians.

For more information, complete the ATO's 5 Step Super Health Check to help claim yours.

Super health check Use this checklist to review the health of your super in 5 simple steps.

Super obligations - are you on track?

The most recent quarterly Super Guarantee (SG) contributions were due on 28 October. If you have missed this date you can get back on track by lodging a Super Guarantee Charge (SGC) statement and paying the SGC to the ATO as soon as possible to avoid further penalties.

Flood Grants Available for Small Business and Non-Profits

Were you impacted by the recent flooding in North Queensland? Small businesses and non-profit originations that were directly impacted can now access increased Exceptional Disaster Assistance Recovery Grants of up to $50,000.

These grants were previously available to small business and non-profit organisations for up to $25,000.
For more information on eligibility and guidelines, please click on the below link.

comms.qrida.qld.gov.au

Are you looking for a new opportunity to work in a vibrant accounting firm working with clients offering Business & Taxation services and advice? We are looking for a qualified accountant to join our team!

Intermediate Accountant - Business & Taxation Services Job in Townsville, Northern QLD - SEEK Dynamic Accountant role with a vibrant accounting firm. Helping clients achieve their business goals

Do I need a Director ID?

If you want to become an executive officer of a company, a registered Australian body, a registered foreign company under the Corporations Act 2001, or an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006, you must apply for a Director ID prior to being appointed.

If you are unsure if you require a director ID, contact our office.

With the 2024/25 budget, the Australian Government announced that it will begin paying superannuation on Commonwealth government-funded Paid Parental Leave from 1 July 2025. These contributions will be based on the statutory super guarantee rate.

The crew at AAG getting into Melbourne Cup! Hope you back a winner! Have a great day!