Beyondex Accountants

24/05/2026

Big tax changes are coming. 🚨 The Australian Federal Budget 2026–27 just announced major reforms to capital gains tax, negative gearing, and family trusts. Don't get caught off guard — read our full breakdown before it affects you. Link below 👇

https://beyondex.com.au/what-the-2026-27-federal-budget-means-for-you/

15/05/2024

Federal Budget 2024 had been handed down last night but not much reform was delivered. We highlight the key announced measures as below for your information.

✅Stage 3 personal tax cuts from 1/7/2024
✅Medicare levy the low-income thresholds increased
✅Super to be paid on Government-funded Paid Parental Leave for births and adoptions on or after 1/7/2025
✅Foreign resident CGT rules - the types of assets that foreign residents will be liable for will be clarified and broadened. The point-in-time principal asset test will be amended to a 365-day testing period. Foreign residents disposing of shares and other membership interests exceeding $20m will be required to notify the ATO prior to the transaction
✅$20k instant asset write-off for small businesses - extended to 30/06/2025 (noting that legislation for the existing instant asset write-off announced in 2023-24 budget has still not yet been passed)
✅Tax incentives for Critical Minerals and Hydrogen production - will operate from 2027-28 to 2040-41
✅Social security deeming rates - frozen for a further 12 months (until 30 June 2025)
✅HECS-HELP indexation each year will be capped at the lower of the Consumer Price Index (CPI) or the Wage Price Index (WPI), effective on a retrospective basis from 1/7/2023 ➡️ HELP debts were indexed in 2023 and are subject to indexation on 1/6/2024 will receive an indexation credit. If you paid off your student loan between 1/6/2023 and the time the new proposed legislation is passes, you will be eligible for a tax credit.
✅Every household will get a $300 rebate and eligible small businesses $325, to be paid in quarterly instalments on your electricity bill throughout 2024-25.

16/08/2023

30/07/2023

As part of the 2022–23 Budget and subsequently became law on 23 June 2023, the following boosts allow Small Businesses to deduct an additional 20% of the cost of expenses and eligible depreciating assets.⁣⁣⁣
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⁣🏭𝗪𝗵𝗼 𝗮𝗿𝗲 𝘁𝗵𝗲𝘀𝗲 𝗯𝗼𝗼𝘀𝘁𝘀 𝗳𝗼𝗿?⁣⁣⁣
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Small businesses with an aggregated annual turnover of less than $50 million.⁣⁣⁣
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⁣✅𝗪𝗵𝗮𝘁 𝗱𝗼 𝘆𝗼𝘂 𝗴𝗲𝘁?⁣⁣⁣
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An additional 20% tax deduction (A maximum $20,000 allowable) on eligible expenditure ⁣⁣⁣
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⁣🎁 𝗦𝗠𝗔𝗟𝗟 𝗕𝗨𝗦𝗜𝗡𝗘𝗦𝗦 𝗧𝗘𝗖𝗛𝗡𝗢𝗟𝗢𝗚𝗬 𝗜𝗡𝗩𝗘𝗦𝗧𝗠𝗘𝗡𝗧 𝗕𝗢𝗢𝗦𝗧⁣⁣⁣
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⁣𝗘𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗲𝘅𝗽𝗲𝗻𝗱𝗶𝘁𝘂𝗿𝗲 𝗮𝗻𝗱 𝗮𝘀𝘀𝗲𝘁𝘀⁣⁣⁣
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🔹Incurred between 7:30 pm AEDT on 29 March 2022 and 30 June 2023.⁣⁣⁣
🔹Eligible depreciating asset first used/ installed ready for use by 30 June 2023.⁣⁣⁣
already deductible for your business under taxation law⁣⁣⁣
🔹Incurred for the purposes of business digital operations or digitising its operations on business expenses and depreciating assets.⁣⁣⁣
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⁣⚠️ 𝗘𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗲𝘅𝗽𝗲𝗻𝗱𝗶𝘁𝘂𝗿𝗲 𝗺𝗮𝘆 𝗶𝗻𝗰𝗹𝘂𝗱𝗲, 𝗯𝘂𝘁 𝗶𝘀 𝗻𝗼𝘁 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 𝘁𝗼:⁣⁣⁣
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➡️ 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗲𝗻𝗮𝗯𝗹𝗶𝗻𝗴 𝗶𝘁𝗲𝗺𝘀 – computer and telecommunications hardware & equipment, software, internet costs, systems and services that form and facilitate the use of computer networks⁣⁣⁣
➡️ 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗺𝗲𝗱𝗶𝗮 𝗮𝗻𝗱 𝗺𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 – audio and visual content that can be created, accessed, stored or viewed on digital devices, including web page design⁣⁣⁣
➡️ 𝗘-𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 – goods or services supporting digitally ordered or platform-enabled online transactions, portable payment devices, digital inventory management, subscriptions to cloud-based services, and advice on digital operations or digitising operations, such as advice about digital tools to support business continuity and growth⁣⁣⁣
➡️ 𝗖𝘆𝗯𝗲𝗿 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆 – cyber security systems, backup management and monitoring services⁣⁣⁣
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⁣🎁 𝗦𝗠𝗔𝗟𝗟 𝗕𝗨𝗦𝗜𝗡𝗘𝗦𝗦 𝗦𝗞𝗜𝗟𝗟𝗦 𝗔𝗡𝗗 𝗧𝗥𝗔𝗜𝗡𝗜𝗡𝗚 𝗕𝗢𝗢𝗦𝗧⁣⁣⁣
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⁣𝗘𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗲𝘅𝗽𝗲𝗻𝗱𝗶𝘁𝘂𝗿𝗲⁣⁣⁣
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🔹 Incurred in the period commencing from 7:30 pm AEDT 29 March 2022 until 30 June 2024.⁣⁣⁣
🔹 Where the training is a component of a larger program or course of training, the enrolment or arrangement relating to the relevant expenditure must be made or entered into at or after 7:30 pm AEDT on 29 March 2022.⁣⁣⁣
🔹 For the provision of training to employees of your business, either in-person in Australia, or online.⁣⁣⁣
🔹 Already deductible for your business under taxation law.⁣⁣⁣
🔹 Charged, directly or indirectly, by a registered external training provider that is not you or an associate of yours (check for registered providers at training.gov.au)⁣⁣⁣
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CALL US TODAY TO DISCUSS HOW WE CAN MAXIMISE YOUR TAX RETURN.⁣⁣⁣
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📞 0⃣4⃣5⃣0⃣6⃣0⃣6⃣0⃣1⃣8⃣⁣⁣⁣
📧 [email protected]⁣⁣⁣
www.Beyondex.com.au⁣⁣⁣
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02/07/2023

That time of the year comes again. ATO has announced their 3 key focus areas for this tax time 2023:

• rental property deductions
• work-related expenses
• capital gains tax

𝗥𝗲𝗻𝘁𝗮𝗹 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗱𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻𝘀

You can only claim interest on a loan used to purchase a rental property to earn rental income. This means the loan was re-financed with some private purpose is non-deductible.

The ATO has sophisticated data matching capabilities which include rental property-related data and has recently implemented a new residential investment property loans data matching program.

𝗪𝗼𝗿𝗸-𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀: 𝗮𝘃𝗼𝗶𝗱 𝘁𝗵𝗲 ‘𝗰𝗼𝗽𝘆-𝗽𝗮𝘀𝘁𝗲’

There have also been some changes in calculating methods for things like working from home deductions, so DO NOT just copy and paste your prior year’s claims.

SHORT-CUT METHOD (80c per work hour) CEASED FROM 1 JULY 2022.

To claim your working from home expenses as a deduction, you can use the actual cost, or the revised fixed rate method, so long as you meet the eligibility and record-keeping requirements.

𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗴𝗮𝗶𝗻𝘀 𝘁𝗮𝘅: 𝗵𝗮𝘃𝗲 𝘆𝗼𝘂 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗲𝗱 𝗮𝗹𝗹 𝗮𝘀𝘀𝗲𝘁𝘀?

Capital gains tax (CGT) applies when you dispose of assets such as shares, crypto, managed investments or properties. You need to calculate a capital gain or capital loss for EACH asset you dispose of unless an exemption applies.

Generally, your main residence is exempt from CGT, however if All or Part of your home is used to produce income, such as being rented out, used as Airbnb or Stayz, or to run a business from home, then CGT may apply.

Source: ATO

22/10/2022

Affected by floods? There are various Government Suports available for people and communities including Businesses.

The Victorian Government has also announced a flood relief package to support Victorian businesses incurring significant direct flood damage during the Victorian flood events that commenced in October 2022. The Small Business Immediate Flood Relief Program includes one-off grants of $5000 to support thousands of businesses, with additional support available through a new dedicated Business Relief Service.

If your business is in an area that has been affected by the recent floods, find out where to go for assistance and the next steps: https://bit.ly/3yjRvGe