York Accounting Tax Advisory

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

Since July 2019, superannuation funds must cancel insurance for accounts inactive for 16 months unless members opt to ke...
01/10/2026

Since July 2019, superannuation funds must cancel insurance for accounts inactive for 16 months unless members opt to keep coverage. This commonly affects people on extended parental leave, career breaks, or experiencing unemployment. Some members discover cancellation only when making claims or reviewing annual statements. Funds send warning notices at 9, 12, and 15 months of inactivity, but only if they have current contact details. Review your accounts regularly and consider opting in to maintain coverage during planned breaks from work or extended absences.

The 2026-27 Budget introduced major personal tax changes including a new $250 working tax offset and capital gains tax r...
24/09/2026

The 2026-27 Budget introduced major personal tax changes including a new $250 working tax offset and capital gains tax reforms from 2027, while superannuation remained largely unchanged. The CGT discount will be replaced with indexation and a 30% minimum tax rate, but super funds keep their existing one-third discount. Discretionary trusts face a 30% minimum tax from 2028, and negative gearing will be limited to new builds from 2027.

Recent ASIC enforcement action against unlicensed financial influencers highlights the importance of carefully evaluatin...
17/09/2026

Recent ASIC enforcement action against unlicensed financial influencers highlights the importance of carefully evaluating online financial content. While social media can provide useful financial education, certain red flags should prompt extra caution, including promises of guaranteed returns or pressure to act quickly. Financial strategies can’t be one-size-fits-all, as individual circumstances vary significantly. For major financial decisions, consider consulting a licensed professional who can provide personal advice.

Super contributions are usually either concessional (taxed at 15% in your super fund) or non-concessional (not taxed in ...
10/09/2026

Super contributions are usually either concessional (taxed at 15% in your super fund) or non-concessional (not taxed in your superannuation fund), and each contribution type has different annual limits. Special exclusions apply for personal injury payments, downsizer contributions and CGT exempt contributions. Understanding these different types of contributions can help maximise your retirement savings while avoiding tax penalties for exceeding your annual limits.

Worried about running out of money in retirement? You’re not alone. ASIC research shows that nearly half of pre-retirees...
03/09/2026

Worried about running out of money in retirement? You’re not alone. ASIC research shows that nearly half of pre-retirees aged 50–66 are worried they’ll run out of money in retirement, and that there’s a strong need to learn more about super and retirement planning to feel confident in managing their finances in retirement. A newly launched Retirement Hub on Moneysmart, developed by ASIC, has been designed to help you develop the skills needed to plan out retirement income that meets your needs.

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.

Address

G6, 75 Tulip Street
Cheltenham, VIC
3192

Opening Hours

Monday 9:45am - 5pm
Tuesday 9:45am - 5pm
Wednesday 9:45am - 5pm
Thursday 9:45am - 5pm
Friday 9:45am - 5pm

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