RBizz Corporate Accountants - Resources #ATO Rules

The Reason You Can't Take a Real Holiday Isn't Your Business. It's That You Never Built It to Run Without You.

Mon, 07 Sep 2026 10:46:55 +1000

The Reason You Can't Take a Real Holiday Isn't Your Business. It's That You Never Built It to Run Without You.

When was the last time you took two full weeks off without checking email, answering a call, or quietly logging in "just to make sure everything's fine"? If you genuinely can't remember, that's not a sign your business needs you that much. It's a sign the business was never actually built to function without you — and that's a structural problem, not a compliment.

Why This Gets Mistaken for Success

Being indispensable feels like proof the business genuinely needs you, which can feel validating. In reality, a business that can't operate without the owner physically present or reachable isn't strong — it's fragile, entirely dependent on one person's ongoing availability, with no real resilience if that person is ever genuinely unavailable, by choice or otherwise.

What's Usually Actually Missing

Why This Gets Mistaken for Success

Beyond the personal cost of never genuinely switching off, an untested dependency is also a business risk — it affects what the business is worth if you ever want to sell it, how it survives if you're unexpectedly unavailable for health reasons, and how much pressure sits entirely on one person indefinitely.

What to Actually Do

Plan a genuine, fully disconnected week away — not "working remotely," actually away — and see what breaks.
Document whatever had to be explained or handled personally during that week, since that's your actual dependency list.
Address one item on that list every month, rather than accepting the dependency as permanent.

RBizz works with owners on the systems and structure that let a business run without the owner glued to it. Get in touch if you can't remember your last genuine, disconnected break.

Federal Budget 2026-27: Key Announcements

Sat, 29 Aug 2026 23:25:12 +1000

Federal Budget 2026-27: Key Announcements

On Tuesday, 12 May 2026, Treasurer Jim Chalmers delivered what is being called the most ambitious Budget in decades. The 2026-27 Federal Budget introduces significant reforms to Capital Gains Tax (CGT) and Negative Gearing to improve housing affordability, while offering permanent relief for small businesses and targeted offsets for workers.

Support for Small Business

Permanent Instant Asset Write-Off: The $20,000 threshold is now a permanent fixture for businesses with turnover under $10 million, starting 1 July 2026.

Loss Carry-Back: Companies under $1B turnover can offset current losses against tax paid up to two years prior, providing a vital cash flow injection.

Trust Reform: A new 30% minimum tax on discretionary trusts arrives in 2028, though a three-year "rollover relief" window will open in 2027 to help businesses restructure into companies or fixed trusts.

Individual & Worker Relief

Tax Offsets: A permanent $250 Working Australians Tax Offset starts in 2027. Additionally, a $1,000 instant tax deduction for work-related expenses (with no receipts required!) begins 1 July 2026 for those with low deductions.

Rate Cuts: Legislated tax cuts will see the 16% rate drop to 15% this July (2026), and further to 14% in 2027.

Common Tax Deductions Australian Businesses Miss Every Year

Mon, 13 Jul 2026 12:21:14 +1000

Common Tax Deductions Australian Businesses Miss Every Year

Every tax season, business owners across Australia pay more tax than they need to — not because they're doing anything wrong, but because they're missing deductions they're legitimately entitled to claim.

Some of these get missed because they're easy to overlook. Others get missed because business owners assume "it's probably not deductible" and don't bother checking. Either way, the result is the same: money left on the table that could have gone back into the business.

Here are the deductions we see businesses miss most often.

1. Home Office Expenses

Equipment, vehicles, tools, and technology all lose value over time — and that loss is deductible. Businesses frequently miss:

Instant asset write-off eligibility on smaller purchases
Depreciation schedules on larger assets that were never properly set up
Software and subscription-based tools treated as an expense rather than a depreciable asset (or vice versa, depending on the accounting treatment)

An outdated or missing depreciation schedule is one of the most common gaps we find when reviewing a new client's accounts.

2. Depreciation on Assets

Partnerships and trusts sit in the middle — they lodge a tax return, but generally don't pay tax at the entity level. Instead, income flows through to partners or beneficiaries.

What applies to you:

The entity itself lodges an information return, but tax is paid by the individuals/entities receiving the distributed income.
Trust distribution resolutions must generally be finalised before 30 June — missing this can result in the trustee being taxed at the top marginal rate on undistributed income.
Partnerships need clear, documented profit-sharing arrangements, especially if they've changed during the year.
GST and PAYG withholding obligations still apply at the entity level if registered and employing staff.

What to prepare now: Confirm trust resolutions are drafted and signed before the cut-off, and review partner drawings against actual profit share to avoid surprises at tax time.

3. Professional Development & Training

Money spent upskilling yourself or your staff in a way that relates to your current business is generally deductible — including:

Industry courses and certifications
Conference and seminar costs
Relevant subscriptions, journals, and memberships

This is frequently missed because it doesn't feel like a "business cost" in the way rent or wages do.

4. Bad Debts

If a customer genuinely won't pay and you've written the debt off in your accounts before year-end, that amount may be claimable as a deduction. Many businesses either forget to formally write off the debt, or don't realise the deduction exists at all.

5. Motor Vehicle Expenses

Vehicle-related deductions are commonly under-claimed because business owners either:

Don't keep a logbook, so they default to the lower cents-per-kilometre method even when the logbook method would produce a bigger deduction
Forget to include registration, insurance, and depreciation alongside fuel costs
Mix up personal and business use without a clear record to substantiate the split

6. Superannuation Contributions (Paid on Time)

Super paid to yourself or employees is only deductible in the financial year it's actually paid — not accrued. Businesses that pay their final quarter's super slightly late (even by a few days into the new financial year) can lose the deduction for that year entirely.

7. Prepaid Expenses

Some businesses can claim a deduction in the current year for expenses prepaid for a period extending into the next financial year — such as insurance, subscriptions, or rent — depending on eligibility rules. This is a timing opportunity that's frequently missed simply because it isn't top of mind before 30 June.

Why These Get Missed

None of these deductions are obscure loopholes. They're legitimate, well-established parts of the tax system. They get missed because:

Records aren't detailed enough to substantiate the claim
Business owners aren't aware the deduction applies to their situation
There's no proactive review before lodgment — just a reactive one

The Fix Is Usually a Conversation, Not a Complication

Most of these deductions don't require a major overhaul to claim correctly — they require a proper year-end review with someone who knows what to look for.

RBizz Corporate Accountants reviews your business finances with an eye for exactly these gaps — schedule a free consultation to see what you might be missing.

Beyond the Ledger: 3 Accounting Trends Reshaping 2026

Thu, 07 May 2026 23:09:04 +1000

Beyond the Ledger: 3 Accounting Trends Reshaping 2026

As we move through May 2026, the accounting landscape in Australia is shifting from "compliance-only" to "strategic-first." While the numbers still need to balance, the tools and regulations surrounding them have evolved significantly.

1. The Rise of "Payday Super" & Real-Time Reporting

The biggest structural change for 2026 is the mandatory shift to Payday Super. Starting 1 July 2026, the ATO requires superannuation to be paid on the same day as wages. For businesses, this means the end of the quarterly "lump sum" rush.

Actionable Tip: If you are still using the Small Business Superannuation Clearing House (SBSCH), be aware it is scheduled to close by 30 June 2026. You’ll need to transition to a direct payroll-integrated solution before the July 1st deadline.

2. From "Bookkeeper" to "Strategic Advisor"

With AI and automation now handling up to 80% of manual data entry and bank reconciliations, the role of your accountant has changed. In 2026, top firms are using real-time KPI dashboards to provide:

Predictive Cash Flow: Catching a shortfall before it happens.
Gross Margin Bridges: Pinpointing exactly why your profit dropped even when sales stayed high.
Scenario Modeling: Testing the impact of a new hire or price increase before you commit.

3. ESG Reporting: Not Just for Big Business

Environmental, Social, and Governance (ESG) reporting is no longer just for the ASX top 200. In 2026, small businesses are finding that "green credentials" are required for:

Bank Lending: Banks are increasingly factoring climate risk and governance into interest rate offers.
Government Tenders: Proving your sustainability and diversity metrics is now a standard requirement for many local and state contracts.

Beyond the Ledger: 3 Accounting Trends Reshaping 2026

Tue, 05 May 2026 13:01:02 +1000

Beyond the Ledger: 3 Accounting Trends Reshaping 2026

1. The Rise of "Payday Super" & Real-Time Reporting

Actionable Tip: If you are still using the Small Business Superannuation Clearing House (SBSCH), be aware it is scheduled to close by 30 June 2026. You’ll need to transition to a direct payroll-integrated solution before the July 1st deadline.

2. From "Bookkeeper" to "Strategic Advisor"

Predictive Cash Flow: Catching a shortfall before it happens.
Gross Margin Bridges: Pinpointing exactly why your profit dropped even when sales stayed high.
Scenario Modeling: Testing the impact of a new hire or price increase before you commit.

3. ESG Reporting: Not Just for Big Business

Environmental, Social, and Governance (ESG) reporting is no longer just for the ASX top 200. In 2026, small businesses are finding that "green credentials" are required for:

Bank Lending: Banks are increasingly factoring climate risk and governance into interest rate offers.
Government Tenders: Proving your sustainability and diversity metrics is now a standard requirement for many local and state contracts.

Division 296: Does It Affect You?

Tue, 05 May 2026 12:58:13 +1000

Division 296: Does It Affect You?

From 1 July 2026, a new tax (Division 296) will be introduced to reduce concessional tax rates on superannuation earnings above $3 million. But how does Division 296 work, and are you affected?

What is Division 296?

Currently, income earned on superannuation balances is generally taxed at a headline rate of up to 15%. However, from 1 July 2026, individuals who have a total superannuation balance above $3 million will be subject to a higher tax rate on earnings in their superannuation accounts.

Broadly:

Superannuation balances between $3 million and $10 million will be taxed at 30% on the percentage of earnings between $3 million and $10 million; and
Superannuation balances above $10 million will be taxed at 40% on the percentage of earnings that exceeds $10 million.

The ATO will notify any individuals who are liable to pay any Division 296 tax, with those taxpayers given the option to either pay the tax directly or release the appropriate amount from their super fund. Remember, as Division 296 only applies from 1 July 2026, the first notices of assessment aren’t likely to be issued until the 2027-28 financial year.

So, Division 296 won’t apply to everyone?

In short, no. This new measure is expected to affect less than 0.5% of Australians with superannuation accounts in 2026-27; with the higher 40% rate for balances above $10 million estimated to affect less than 0.1% of Australians with superannuation accounts.

Importantly, this means that those with super balances lower than $3 million will keep being taxed on their super earnings at the current concessional rate of 15% (i.e. there is no change to current tax arrangements).

What happens if my super grows over time?

Both the $3 million and $10 million thresholds will now be indexed to the Consumer Price Index (CPI) each year. This means the application of Division 296 should remain relatively limited, even if your superannuation balance increases.

What if I am affected by the changes?

If you’re in scope of Division 296, or expect to have a super balance above $3 million in the near future, there are a few actions you can take ahead of 1 July. For one, you may want to speak to a qualified financial adviser to review your investment mix. You might also consider modeling how Division 296 is expected to impact your super balance over the long term.

For a more bespoke chat about your options, book some time in with our team today – we’d be happy to help.

The "Payday Super" Countdown: What You Need to Know

Mon, 04 May 2026 11:11:34 +1000

The "Payday Super" Countdown: What You Need to Know

From 1 July 2026, the way Australian employers pay superannuation is fundamentally changing. The Federal Government’s "Payday Super" reform means that Superannuation Guarantee (SG) contributions must be paid at the same time as salary and wages, rather than the current quarterly system.

Why the Change?

The shift aims to ensure employees receive their entitlements faster and to help them track their super more easily. It also prevents the "super gap" that occurs when businesses fall behind on quarterly payments.

What This Means for Your Business

Cashflow Timing: Instead of a large lump sum every three months, your cashflow will need to accommodate super payments every pay cycle (weekly, fortnightly, or monthly).
Compliance Deadlines: Contributions must reach the employee's fund within 7 business days of payday.
Software Updates: You must ensure your payroll software is configured to handle these automated, frequent transfers well before the July deadline.

Preparing for the Shift

To avoid penalties and administrative stress, businesses should use the remainder of 2026 to audit their payroll processes. Your cash reserves now to reflect "real-time" super obligations will make the transition in July 2026 much smoother.

Alternatives to the Small Business Superannuation Clearing House

Fri, 10 Apr 2026 13:42:39 +1000

Alternatives to the Small Business Superannuation Clearing House

On 1 July 2026, the Small Business Superannuation Clearing House (SBSCH) will close permanently as part of the Payday Super reforms. With only a few months left, employers still using the SBSCH need to find an alternative option, and soon.

Don’t wait until the last minute

If you currently pay your superannuation quarterly, the Australian Taxation Office (ATO) recommends that the super payment for the January-March 2026 quarter (due 28 April 2026) be the last payment you make through the SBSCH. That way, you give yourself time to find and adjust to a new provider before you need to pay super for the April-June 2026 quarter.

Remember, the April –June quarter payment (due 28 July 2026) cannot be made using the SBSCH after 30 June 2026.

Choosing a new provider

There are a lot of different options out there to replace the SBSCH:Check your existing payroll software, as it may well already have super functions that you can use to pay your employees’ super guarantee contributions.

Check other payroll software or providers that meet all SuperStream requirements.

Find a commercial clearing house or super fund that provides payment options—that might include your default super fund.

Once you’ve picked your new provider, make sure to trial it out well before 1 July 2026. That way, you can get comfortable with the new platform while also having the chance to troubleshoot any potential errors before Payday Super comes into effect.

As a reminder, Payday Super requires that employers pay their employees’ super at the same time as their salary and wages, with funds to be received into employees’ nominated funds within seven business days of payday.

Closing up your SBSCH account

After 11:59 pm AEST on 30 June 2026, you won’t be able to log in to the SBSCH to submit instructions or view records, so make sure that you’ve finalised any payments and downloaded any reports from the SBSCH before it closes for good.

Make sure you’re Payday Super ready

Need help picking an alternative to the Small Business Superannuation Clearing House, or looking for further advice about Payday Super? Get in touch with a member of our team – we’d be happy to walk you through your options, and put a plan in place to get your business ready ahead of 1 July.

Q3 Super & Easter/Anzac Hours

Tue, 31 Mar 2026 15:30:24 +1100

Q3 Super & Easter/Anzac Hours

April is a busy month with several public holidays and tax deadlines.

Office Hours: Our office will be closed for the Easter break (3–6 April) and Anzac Day (27 April observation).

Superannuation: Q3 Super payments are due by 28 April. Because of the holiday clusters, we strongly suggest processing these by 20 April to ensure they clear in time.

Quarterly BAS: Your March quarter BAS is also due on 28 April.

If you’re planning to be away over the school holidays, let’s get your numbers sorted early so you can enjoy your break without any compliance worries!

Taking Steps to Stay Compliant with ATO Rules

Tue, 24 Mar 2026 20:03:15 +1100

Taking Steps to Stay Compliant with ATO Rules

“Every year we see small businesses run into avoidable issues because they haven’t kept accurate records, reported all their income or managed their cashflow effectively”

Angela Allen, ATO Assistant Commissioner

The Australian Taxation Office (ATO) is encouraging Aussie small businesses to stay compliant. By doing so, you avoid the problems, penalties and fines that can occur when your business fails to follow the rules and compliance duties set out by the ATO.

What can you do to improve your overall tax compliance position?

ere are 5 key ways you can ensure your business stays in the ATO’s good books.

1. Stay on top of your ATO debts

The ATO wants you to proactively manage your tax debts. If you can engage early with the ATO, whether that’s to set up a payment plan or even make a prepayment, this makes the debt easier to manage and removes the need for stronger enforcement.

2. Separate accounts for separate obligations

Make sure you have dedicated bank accounts for GST and PAYG withholding. This protects your essential cashflow and stops cash from being used for operational expenses, so you always have funds available for BAS lodgements and other contributions.

3. Good records, good business

Keeping accurate records is a legal requirement for a small business. The ATO is keen for businesses to transition from manual ‘shoebox’ methods to digital systems and ATO online services. This minimises errors and helps you provide all your tax information in a digital format.

4. Prepare for Payday Super

Starting 1 July 2026, Payday Super will come into force, making it mandatory for employers to pay Superannuation Guarantee contributions on each payday. Review your payroll systems now to make sure they can manage more frequent reporting and payment requirements.

5. Closing or winding down a business

If you’re closing down your business and exiting the market, you must meet your final obligations, including cancelling ABNs and lodging your final tax returns. This prevents future compliance issues and ensures all employee entitlements are settled.

ATO Advice

The ATO advises businesses to work with registered tax practitioners. Working with a qualified tax adviser from the Tax Practitioners Board keeps you in line with all current tax laws.

Talk to our tax team and let’s make sure you’re 100% compliant with ATO rules.