Gold Medal Accounting - Tax Agents

Gold Medal Accounting - Tax Agents Public Accountants
Registered Tax Agents
Bookkeeping Service Opening September 2021

As we approach tax time and end of the financial year, we would like to update clients on several important changes affe...
26/05/2026

As we approach tax time and end of the financial year, we would like to update clients on several important changes affecting accounting firms and taxpayers across Australia.

The accounting profession is currently experiencing some of the most significant regulatory and compliance changes seen in many years, including the introduction of new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations from 1 July 2026.

At the same time, the recent Federal Budget introduced substantial proposed changes affecting companies, trusts, investors, SMSFs and business owners, resulting in an increasingly complex taxation environment for many Australians.

Many of these proposed measures are still subject to further detail, draft legislation and clarification from Government departments and the ATO. Our office is monitoring developments closely and we are already reviewing how these changes may affect our clients over the coming years.

We understand many clients may be uncertain about what these reforms could mean for them personally or for their business structures. Please be assured that we are following these developments carefully so we can provide practical guidance and assistance when the final rules and implementation details become clearer.

As a firm, we are continuing to invest heavily in:

upgraded compliance and security systems;
enhanced client identity verification procedures;
electronic signing and paperless workflow technology;
staff training and professional development;
improved advisory and tax planning services; and
systems designed to improve efficiency and client communication.
These investments are designed to ensure we continue delivering high-quality professional advice, while also meeting the increasing compliance obligations now being imposed on accounting firms Australia-wide.



Our goal is to implement these requirements as efficiently and professionally as possible while minimising inconvenience to clients.

Additional Value and Advisory Support

While compliance requirements are increasing, we also believe clients deserve greater value and proactive advice in return.

Over the coming years, many clients may require assistance with:

business structure reviews;
trust and SMSF planning;
CGT and investment planning;
PAYG and cash flow strategies;
business succession and restructuring advice; and
navigating ongoing tax law changes arising from recent Federal Budgets.
Our focus is not simply on tax return preparation, but on helping clients better understand and manage their broader financial and taxation position in an increasingly complex environment.

We thank all clients for your continued support and look forward to assisting you throughout the 2026–27 financial year.

If you have any questions, please contact our office.

Trust to Company
18/05/2026

Trust to Company

Trust vs company vs smsf
18/05/2026

Trust vs company vs smsf

CGT changes
18/05/2026

CGT changes

Negative gearing changes
18/05/2026

Negative gearing changes

Federal Budget 2026 key timeline
18/05/2026

Federal Budget 2026 key timeline

12/05/2026

πŸ“’ Federal Budget Update β€” What property investors & taxpayers need to know.

The Government has announced proposed changes across several key areas:

🏠 Negative Gearing β€” If you already own investment properties, you're largely expected to keep your current negative gearing entitlements. But from 1 July 2027, negative gearing on new purchases may only apply to newly built properties β€” not established homes.

πŸ“ˆ Capital Gains Tax β€” This one is nuanced. It may NOT be full grandfathering. Gains up to the commencement date may keep current treatment, but future gains could fall under a new indexed system. Long-term investors could still be affected. Changes take effect 1 July 2027.

🏦 Discretionary Trusts β€” One of the biggest unknowns. A proposed 30% minimum tax on distributions from 1 July 2028 is on the table, with no clear guidance yet on rollover relief, restructuring, stamp duty or CGT consequences.

πŸ‘· Individual Tax Measures
β€’ Proposed $250 Working Australians Tax Offset from 2027–28
β€’ Proposed $1,000 instant work-related expense deduction from 2026–27

🏒 Small Business β€” Loss carry-back provisions, and a permanent $20k instant asset write-off. Good news for small business owners.

πŸ“… Key dates at a glance:
β€’ 2026–27 β€” $1,000 deduction, loss carry-back, permanent $20k write-off
β€’ 1 Jul 2027 β€” CGT reform, negative gearing changes
β€’ 2027–28 β€” $250 worker tax offset
β€’ 1 Jul 2028 β€” Trust minimum tax, R&D overhaul

Our advice right now? Don't rush. Draft legislation and transitional rules haven't been released yet β€” and the details matter enormously.

We're monitoring this closely and will be in touch as more information becomes available. Feel free to reach out if you'd like to discuss how these changes may affect your situation. πŸ‘‡

16/04/2026
18/03/2026

# # 🧾 Division 296 Super Tax – What You Need to Know

The proposed Division 296 legislation has now passed the Senate (10 March 2026) and is awaiting final approval. Once enacted, it will apply from 1 July 2026, with the first affected year being 2026–27.

# # # πŸ’‘ What is it?
An additional 15% tax on earnings relating to the portion of your super balance above $3 million.

Importantly, this includes unrealised gains β€” meaning tax may apply even if assets haven’t been sold.

# # # βš™οΈ How it works (simplified)
- The ATO calculates your annual super growth
- A portion above $3M is identified
- That portion is taxed at 15%

# # # 🧾 Who calculates it?
The ATO calculates and issues the assessment. You can choose to:
- Pay personally, or
- Release the amount from your super

# # # πŸ—οΈ SMSF Update
A one-off CGT cost base reset will be available at 30 June 2026, allowing pre-1 July 2026 gains to be excluded for Division 296 purposes.

---

# # # βœ”οΈ Key takeaway
- Threshold: $3M per person
- Tax: 15% on earnings above this level
- Start date: 1 July 2026

If you’d like to understand how this may impact your super strategy, feel free to reach out β€” we’re here to hel

From 1 July 2026, the way super is paid in Australia changes significantly.Quarterly payments will effectively disappear...
25/02/2026

From 1 July 2026, the way super is paid in Australia changes significantly.

Quarterly payments will effectively disappear.

Employers will need to pay super within 7 business days of each payday.

Key implications:

β€’ Cash flow impact increases
β€’ Penalty exposure increases
β€’ Interest accrues daily from day 8
β€’ ATO can assess at any time
β€’ 60% uplift applies to shortfalls
β€’ Super calculated on broader qualifying earnings

This is not just a timing change β€” it’s a compliance shift.

Businesses should start reviewing payroll systems and cash flow planning now, not mid-2026.

Address

Burleigh Waters, QLD
4220

Opening Hours

Monday 7am - 4pm
Tuesday 7am - 5pm
Wednesday 7am - 4pm
Thursday 7am - 5pm
Friday 7am - 3pm
Saturday 7am - 10am

Telephone

+61756698922

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