Smart Tax & Super Planning BEFORE End of Year
Tax time is just around the corner, so now is the time to make sure you’re prepared for 30 June.
Each year, the ATO highlights its areas of focus. Click here and take a few minutes now to review these can help you avoid issues when lodging your return in the new financial year.
CGT discount - changes to apply from 1 July 2027
Individuals who hold an asset for more than 12 months often qualify for a 50% discount to reduce the taxable gain made on sale of the asset. A similar outcome can arise when a trust makes a capital gain and this is distributed to an individual beneficiary.
However, from 1 July 2027 the CGT discount will be replaced for individuals and trusts with: cost base indexation (inflation adjustment) and a 30% minimum tax on capital gains.
This change will apply across all CGT asset categories—including residential and commercial property, shares, business assets and even pre-CGT assets.
To see examples and understand the issues, click here
Negative gearing – changes to apply from 1 July 2027
The Government is planning to tighten up negative gearing on established residential properties. For properties purchased after 7:30pm AEST on 12 May 2026:
· Rental losses can only be offset against rental income or capital gains from other residential properties.
· Any remaining losses must be carried forward and applied only against future residential rental income or residential property capital gains.
To find out how these changes affect you contact us or click here for more detail
Discretionary trusts – changes to apply from 1 July 2028
The introduction of a 30% minimum tax rate on the taxable income of discretionary trusts would represent a fundamental change to the way the tax system operates at the moment.
The Government is indicating that the 30% tax would initially be paid by the trustee, with beneficiaries (other than companies) receiving a non-refundable tax credit for the tax paid at the trust level.
This measure is aimed at curbing income splitting to lower-taxed family members and corporate beneficiaries (often known as bucket companies).
To see examples and understand issues click here
Tax Planning for Primary Producers
Primary production income can vary significantly from year to year due to seasonal conditions, commodity prices and the timing of sales. A targeted year-end review can help manage those fluctuations and ensure deductions are claimed in the right year.
As 30 June approaches, primary producers should review the timing of income, deductions and capital spending. With the right planning, it may be possible to smooth taxable income, improve cash flow and claim available concessions.
Click here for a deep dive on key areas to consider.
Common scams to watch out for at EOFY
As the end of the financial year approaches, it’s a busy time for preparing your taxes, reviewing super, and getting your finances in order. Unfortunately, it’s also a peak period for scammers looking to take advantage of people and businesses who are focused on deadlines and end-of-year financial tasks.
To find out more, click here
Protecting family ties in a growing business
Around 70 per cent of small businesses are family enterprises. That is a powerful reminder of how much trust, shared values and long-term commitment drives the small business sector.
Personal history, sibling dynamics and unspoken expectations can influence decisions in subtle ways and can create conflict. When you work with relatives, you are managing more than a business. You are managing relationships that matter deeply outside the workplace too.
Harmony is possible with the right structure. Contact our advisory specialsts if you would like to review your structure and click here for more info
Payday Super Regulations: further details for SMSFs
With the Payday Super Regulations starting from 1 July 2026, take the time to see how the changes will impact your SMSF.
Click here to find out how the new Payday Super Regulations will impact SMSFs when Payday Super starts from 1 July 2026.
Fuel tax credits
Fuel tax credits provides you with a credit (in dollars) for the fuel tax (excise or customs duty) that's included in the price of fuel used in eligible business activities. Before claiming fuel tax credits, make sure
Click here for an online eligibility tool and all you need to know
Is your family trust still the right option?
Family trusts remain one of the most flexible and tax-effective structures used by Australian families and small business owners. But a trust that suited you five, 10 or 20 years ago may not be the best structure for your current circumstances. Wealth grows, family situations evolve, tax rules shift and businesses expand over time - and all of these changes can affect whether your existing trust deed is still fit for purpose.
Click here for more and contact us if you need to discuss changes to your circumstances.
Driving your tax savings for 30 June
Vehicle-related expenses remain one of the most commonly claimed tax deductions for Aussies, and it’s an area where the Australian Tax Office (ATO) frequently finds errors.
With 30 June not far away, now is a good time to check whether you have all your paperwork in place.
Common car claim mistakes
If you use your private vehicle for work-related purposes (such as visiting clients or travelling to different work locations), you are able to claim deductions for your vehicle-related expenses.
However, many taxpayers incorrectly try to claim trips from home to work, overestimate their car trips for work usage, or claim 100 per cent business use when the travel is partly private.
Other common errors include automatically claiming expenses for ineligible vehicles (such as one-tonne utes) and failing to keep proper records.
If you would like more information about preparing your vehicle deductions for 30 June, contact our office today.
Click here to find out more
Payday Super is coming soon
From 1 July 2026, employers will need to pay super at the same time as wages, rather than quarterly. This is a big change and will have cash flow, payroll and compliance impacts for many businesses.
If you’re unsure how Payday Super will affect you, or want help getting your systems ready, talk to your accountant. We can guide you through the changes and help you prepare with confidence, call 5744 1221 or email belmore@belmores.com.au
👉 click here to read our detailed article:
👉 Learn more from the ATO here:
March has arrived, and with that, the weather starts to cool; this brings a fresh chapter and a chance to set your pace for the months ahead.
Don’t miss the overlooked EOFY tasks that can reduce tax, improve compliance and protect long term wealth.
Avoid costly family trust conflicts with clearer governance, better communication and stronger succession planning frameworks.
For something a bit lighter, Warren Buffett steps back after a lifetime of investing, his career offers timely lessons on patience, discipline, and knowing when to adapt as markets change.  
Click here for our full Autumn Tax newsletter
Self-managed superannuation fund (SMSF) trustees always have a lot on their to-do lists 2026 is likely to be busier than usual.
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