Element Accountants and Advisors

Element Accountants and Advisors Element Accountants & Advisors is a boutique accounting and advisory firm.

2026-27 Federal Budget ReportBudget 2026-27: at a glance On Tuesday 12 May 2026 the Treasurer Jim Chalmers handed down t...
14/05/2026

2026-27 Federal Budget Report

Budget 2026-27: at a glance On Tuesday 12 May 2026 the Treasurer Jim Chalmers handed down the 2026-27 Federal Budget, framing some of the more significant announcements as part of a broader plan to help young Australians access the property market. While acknowledging that the key to housing affordability is supply, the Government clearly sees changes to negative gearing and the capital gains tax (CGT) discount as being important pieces in the housing affordability puzzle....

Budget 2026-27: at a glance On Tuesday 12 May 2026 the Treasurer Jim Chalmers handed down the 2026-27 Federal Budget, framing some of the more significant announcements as part of a broader plan t…

Superannuation contribution caps to increase from 1 July 2026Following the recent release of the December 2025 quarter a...
08/05/2026

Superannuation contribution caps to increase from 1 July 2026

Following the recent release of the December 2025 quarter average weekly ordinary times earnings (AWOTE) the annual concessional contribution (CC) cap will increase from $30,000 to $32,500 from 1 July 2026. The annual non-concessional contribution (NCC) cap will also increase to $130,000. When considering contribution opportunities some individuals may have higher caps due to the carry forward CC rules or the NCC bring forward rules, while others with higher super balances may have a reduced or nil NCC cap....

Following the recent release of the December 2025 quarter average weekly ordinary times earnings (AWOTE) the annual concessional contribution (CC) cap will increase from $30,000 to $32,500 from 1 …

New ATO ‘Verify Call’ Feature: Instant Protection Against Phone ScamsAs tax time approaches, so does the annual spike in...
08/05/2026

New ATO ‘Verify Call’ Feature: Instant Protection Against Phone Scams

As tax time approaches, so does the annual spike in scam calls pretending to be from the ATO. These calls are becoming increasingly convincing — and increasingly costly for those who get caught by them. The ATO has now launched a simple, powerful solution: the ‘verify call’ feature in the free ATO app. Rolled out in early April 2026, it allows you to confirm — instantly and in real time — whether the person calling you is genuinely from the ATO....

As tax time approaches, so does the annual spike in scam calls pretending to be from the ATO. These calls are becoming increasingly convincing — and increasingly costly for those who get caught by…

Practical Help for Businesses Impacted by Fuel DisruptionsWith global fuel supply chains still under strain from conflic...
08/05/2026

Practical Help for Businesses Impacted by Fuel Disruptions

With global fuel supply chains still under strain from conflict in the Middle East, many Australian businesses are feeling the impact through higher operating costs, delayed deliveries and pressure on cash flow. To help stabilise affected sectors, Treasurer Jim Chalmers and the ATO have announced a package designed to give businesses immediate breathing room and reduce administrative burden during a volatile period....

With global fuel supply chains still under strain from conflict in the Middle East, many Australian businesses are feeling the impact through higher operating costs, delayed deliveries and pressur…

ATO Updates EV Home Charging Rate: What It Means for YouThe ATO has announced a significant update that will affect anyo...
08/05/2026

ATO Updates EV Home Charging Rate: What It Means for You

The ATO has announced a significant update that will affect anyone using electric vehicles (EVs) or plug-in hybrid electric vehicles (PHEVs) for work or fleet purposes and where the vehicle is charged at the relevant individual’s home. From 1 April 2026 (for FBT purposes) or from 1 July 2026 (for income tax purposes), the ATO’s standard home-charging electricity rate will increase from 4.20 cents per kilometre to 5.47 s…...

The ATO has announced a significant update that will affect anyone using electric vehicles (EVs) or plug-in hybrid electric vehicles (PHEVs) for work or fleet purposes and where the vehicle is cha…

The ATO Targets FBT on Work Vehicles: Don’t Let Assumptions Cost YouThe ATO is turning up the heat on employers who prov...
10/04/2026

The ATO Targets FBT on Work Vehicles: Don’t Let Assumptions Cost You

The ATO is turning up the heat on employers who provide work vehicles for private use. Sophisticated data-matching means assumptions and shortcuts can quickly lead to audits, penalties, interest charges—and even reputational damage. You can see the latest ATO FBT audit warning here: Misreporting FBT on personal use of work vehicles | Australian Taxation Office If you provide vehicles to your team, whether to support fieldwork, boost morale, or offer a valuable perk, now is the time to ensure your FBT reporting is watertight....

The ATO is turning up the heat on employers who provide work vehicles for private use. Sophisticated data-matching means assumptions and shortcuts can quickly lead to audits, penalties, interest c…

A Wake-Up Call for Family Businesses on Fringe Benefits TaxAs Fringe Benefits Tax (FBT) lodgement season approaches, fam...
10/04/2026

A Wake-Up Call for Family Businesses on Fringe Benefits Tax

As Fringe Benefits Tax (FBT) lodgement season approaches, family businesses should carefully review the perks they provide to working directors and family members. A high-profile case involving luxury vehicles provided to three brothers who run a large business empire through a discretionary trust highlights the complexities — and potential risks — of informal arrangements. While the case initially appeared to expand FBT exposure, the latest decision handed down by the Full Federal Court offers reassurance that not all benefits provided to working owners will automatically trigger FBT....

As Fringe Benefits Tax (FBT) lodgement season approaches, family businesses should carefully review the perks they provide to working directors and family members. A high-profile case involving lu…

What the New Div 296 Tax Means for Individuals with Large Super BalancesThe Better Targeted Superannuation Concessions m...
10/04/2026

What the New Div 296 Tax Means for Individuals with Large Super Balances

The Better Targeted Superannuation Concessions measure (known as the Division 296 tax) is now law and takes effect from 1 July 2026. For those with large super balances, it’s important to understand what the new tax does, why it’s been introduced, and the practical steps you and your financial adviser should consider. The Purpose of the Tax Division 296 is designed to make superannuation tax concessions fairer and more sustainable....

The Better Targeted Superannuation Concessions measure (known as the Division 296 tax) is now law and takes effect from 1 July 2026. For those with large super balances, it’s important to understa…

Keeping Your Self-Managed Super Fund CompliantSelf-managed superannuation funds (SMSFs) can offer significant flexibilit...
09/03/2026

Keeping Your Self-Managed Super Fund Compliant

Self-managed superannuation funds (SMSFs) can offer significant flexibility, allowing the members to make investments and enter arrangements that may not be available through retail or industry superannuation funds. However, being an SMSF trustee does come with important responsibilities to ensure that all dealings comply with superannuation law. Two critical areas to keep front of mind are: The sole purpose test, and…...

Self-managed superannuation funds (SMSFs) can offer significant flexibility, allowing the members to make investments and enter arrangements that may not be available through retail or industry su…

UntitledThe ATO has issued a Draft Taxation Determination TD 2026/D1 which looks at how inherited family homes are treat...
09/03/2026

Untitled

The ATO has issued a Draft Taxation Determination TD 2026/D1 which looks at how inherited family homes are treated for CGT purposes. Some industry commentators have dubbed it a “death tax by stealth”, but it is a bit more complex than this. The draft guidance focuses on a specific aspect of the rules around applying the main residence exemption to inherited properties, potentially exposing deceased estates and beneficiaries to significant tax if not planned correctly....

The ATO has issued a Draft Taxation Determination TD 2026/D1 which looks at how inherited family homes are treated for CGT purposes. Some industry commentators have dubbed it a “death tax by steal…

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Broadmeadow, NSW
2292

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