Small Business Superannuation Clearing House is closing
The Small Business Superannuation Clearing House (‘SBSCH’) will close on 1 July 2026. Editor: The SBSCH is a free online service provided by the Australian Government through the ATO. The SBSCH can be used by employers to pay superannuation for all their employees through a single payment. The SBSCH will then distribute the money to […]
Getting the main residence exemption right
The ATO has the following tips for taxpayers in relation to the CGT main residence exemption. They should consider if they have bought or disposed of property in the past income year. If they have sold property, were they using it solely as their primary place of residence, earning income from it (rental or business), […]
Bill to reduce student debt now law
Legislation has recently been enacted which delivers on the 2025/26 Federal Budget announcement to reduce student debts. Pursuant to this legislation: there is a one-off 20% reduction to Higher Education Loan Program debts and other student loans that were incurred on or before 1 June 2025; the minimum repayment threshold is increased from $54,435 in […]
ATO to include tax ‘debts on hold’ in taxpayer account balances
From August 2025, the ATO is progressively including ‘debts on hold’ in relevant taxpayer ATO account balances. Editor: A ‘debt on hold’ is an outstanding tax debt where the ATO has previously paused debt collection actions. Tax debts will generally be placed on hold where the ATO decides it is not cost effective to collect […]
Rise in the minimum wage: the impact for your business
On 3 June 2025, the Fair Work Commission’s Expert Panel announced the National Minimum Wage and award wages will increase by 3.5% from 1 July 2025. This wage increase follows on from the 2024-25 Annual Wage Review and its recommendations. This increase in basic pay is great news for Australian workers, especially with the country […]
Energy Bill Relief Fund: How do you claim relief?
Back in March 2025, the Albanese Government announced an extension to the Energy Bill Relief Fund for every Australian household, and around 1 million eligible small businesses. This rebate on your energy costs takes effect from 1 July, with a $1.8 billion extension of the Energy Bill Relief Fund for the six months leading up […]
NSW Budget 2025: the impact for your small business
NSW Budget 2025 was delivered on 24 June, with NSW Treasurer, The Hon Daniel Mookhey MLC, making several announcements that will impact NSW-based businesses. Among more wide-reaching announcements about cost-of-living measures, infrastructure and education investment, the Treasurer outlined what this Budget delivered for business: “For the workers, managers, entrepreneurs, innovators, investors and businesses wanting to […]
How to claim tax deductible expenses as an individual
As an individual taxpayer, you know it’s mandatory to submit your annual tax return to the Australian Taxation Office (ATO) at the end of each financial year (ending each June). Did you know that you claim expenses against some of your work and personal expenses? Let’s look at what expenses you can claim and […]
Increasing your mental health support for employees
As a business owner, there’s a big emphasis on taking care of the physical health and safety of your employees. But what about the mental health and wellbeing of your team? A recent study by Peninsula surveyed 79,000 small to medium-sized businesses clients globally. The study spoke to 30,500 clients across Australia and New Zealand, […]
Keeping your tax and expenses in check when you are self-employed
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential […]