Accounting

May Tax Newsletter

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.

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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

April Tax Newsletter

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:

Autumn Tax Newsletter

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