York Accounting Tax Advisory

York Accounting Tax Advisory We are happy to assist you and your business in tax issues and accounting challenges.

From 1 July 2026, employers must pay super for each payday instead of quarterly, with payments due within seven business...
27/08/2026

From 1 July 2026, employers must pay super for each payday instead of quarterly, with payments due within seven business days. July presents unique challenges as employers make final quarterly payments while beginning payday super. Employers should review pay cycles and consider setting aside additional funds for the dual payment obligations during changeover.

If you employ working holiday makers, it’s easy to assume super works differently for them, but eligible working holiday...
20/08/2026

If you employ working holiday makers, it’s easy to assume super works differently for them, but eligible working holiday makers are entitled to super guarantee just like other employees, even though they’re temporary residents. However, differences arise on how working holiday makers are taxed and how they access their super. Good onboarding, correct fund handling, timely payments and strong records are key. For tailored help, speak with your registered tax agent or licensed financial adviser.

Artificial intelligence tools are becoming increasingly popular for answering money-related questions. While they can be...
13/08/2026

Artificial intelligence tools are becoming increasingly popular for answering money-related questions. While they can be helpful for summarising information and helping you work out what to research next, convenience doesn’t equal accuracy when it comes to tax, super and financial decisions. Rules can be detailed, exceptions matter, and the right answer often depends on your own circumstances. If you act on incorrect information, the consequences can be serious. AI can be a learning tool, but it can’t replace professional advice tailored to your circumstances.

The ATO has flagged common errors some super funds are making when actioning release authorities. Those errors can affec...
11/08/2026

The ATO has flagged common errors some super funds are making when actioning release authorities. Those errors can affect you as a super member, and can delay amounts being applied to your ATO account, affect tax outcomes and, in some cases, result in illegal early access to super. For SuperStream authorities, funds generally have 10 business days to lodge an accepted Release Authority Statement and process the payment. Contact us if you have received an ATO notice or are concerned a release may not have been processed correctly.

A new ASIC review has found problems with the way some banks set up and manage mortgage offset accounts. Common issues i...
11/08/2026

A new ASIC review has found problems with the way some banks set up and manage mortgage offset accounts. Common issues include offsets that were never opened, or were opened but never linked to the home loan. With $349 billion sitting in offset accounts nationally, even small errors can add up quickly. Now is a good time to check that your offset is working as promised, and speak with your adviser about your loan structure.

Division 296 tax may apply from 2026–27 to individuals with a total superannuation balance (TSB) above $3 million. It ma...
11/08/2026

Division 296 tax may apply from 2026–27 to individuals with a total superannuation balance (TSB) above $3 million. It may apply to superannuation earnings attributable to the portion of your TSB above $3 million, with a further 10% applying to earnings attributable to the portion above $10 million. Transitional rules apply for 2026–27. If your balance is near or above these thresholds, contact our office to review your position and plan ahead for the additional tax.

If you received Parental Leave Pay in the 2025–26 financial year for a child born or adopted from 1 July 2025, the ATO w...
11/08/2026

If you received Parental Leave Pay in the 2025–26 financial year for a child born or adopted from 1 July 2025, the ATO will calculate and pay Paid Parental Leave Superannuation Contributions from the start of the 2026–27 financial year. The lump sum payment is based on the 12% superannuation guarantee rate and includes a nominal interest component. Other Parental Leave Pay changes also apply from 1 July 2026, so if you’re expecting to take paid parental leave this financial year, it’s worth planning your super contributions now.

Already lodged your tax return? Don’t assume the process is necessarily over. Sometimes additional information arrives a...
11/08/2026

Already lodged your tax return? Don’t assume the process is necessarily over. Sometimes additional information arrives after lodgment, records turn up later, or you’ll realise something may have been missed. Tax returns can be amended in certain circumstances, including where a mistake was made or something was left out. If you’re unsure whether new information affects your return, contact us before taking further action.

The ATO has found that some taxpayers are incorrectly claiming rent or mortgage interest, and other occupancy expenses, ...
11/08/2026

The ATO has found that some taxpayers are incorrectly claiming rent or mortgage interest, and other occupancy expenses, as part of their working from home expenses. If you’ve embraced remote or hybrid working from home, understanding whether you’re eligible to claim running expenses or occupancy expenses can help you get it right when you lodge your tax return.

Your business structure shapes your tax, reporting, liability and admin obligations, but the structure you chose at the ...
11/08/2026

Your business structure shapes your tax, reporting, liability and admin obligations, but the structure you chose at the start may not be the best fit today. As your business grows, whether you’re taking on staff, expanding operations or bringing in new owners, it can be worth reviewing whether your current arrangements still suit the way you operate. A structure review considers more than just tax, so professional guidance is key to making an informed decision about your next steps.

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Cheltenham, VIC
3192

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Thursday 9:45am - 5pm
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