Bay Business Solutions Group

17/06/2026

End of financial year scam red flags.

Scam activity increases at tax time, with common scams related to:
• tax refunds or outstanding tax payments
• emails or texts claiming to be from the ATO or myGov
• requests to ‘confirm’ personal or banking details.

If you receive an unexpected message about tax or government services, pause and independently verify it through official channels.

You can learn more about current scams and how to protect yourself by visiting a security hub at macquarie.com.au/security. You can also find up to date scam alerts on the Australian Government’s ScamWatch website.

If you’ve ever received an unexpected call, text or email asking you to act quickly, you’re not alone. Scammers are constantly evolving their tactics, and even the most cautious people can be caught off guard.

We all know how easy it is to make small mistakes when we’re busy or distracted – sending an email too quickly, missing a detail, or clicking a link without thinking twice.

As we approach the end of the financial year, scam activity typically increases. Right now, impersonation scams are the most common threat we’re seeing – and they’re designed to slip through in these everyday moments.

Staying informed and knowing what to watch out for is one of the most effective ways to protect yourself.

Macquarie Bank

10/06/2026

AML/CTF Reforms: AUSTRAC Clarifies Position for Bookkeepers and BAS Agents! Great news for our industry!

AML/CTF Reforms: AUSTRAC Clarifies Position for Bookkeepers and BAS Agents.The Australian Bookkeepers Association (ABA) and the Institute of Certified Bookkeepers (ICB) have provided an important update following discussions with AUSTRAC and representatives from the Minister for Home Affairs' office...

10/06/2026

The Federal Budget introduced both loss carry back arrangements for Aussie businesses and the permanent extension of the instant asset write-off. What does this mean for your business?

For your startup or small business to succeed, you need to take calculated risks – risks that may entail your business making a financial loss during periods of innovation or expansion.This spectre of financial loss can be a barrier for risk-averse business owners. But the new loss carry back arra...

08/06/2026

With only two+ weeks until 30 June, here is your final "to-do" list; prepayments, writing off bad debts and trust resolutions.

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With only two+ weeks until 30 June, here is your final "to-do" list:

- Prepayments: If you have the cash, consider prepaying rent or insurance for the next few months to bring the deduction into this year.

- Write off Bad Debts: Review your invoices; any that are truly uncollectible must be written off in your system before 30 June.

- Trust Resolutions: If you operate through a Trust, ensure your distribution minutes are signed by 30 June.

If you have any last-minute questions, please don't hesitate to reach out.

05/06/2026

July 1st 2026 sees the updated AML bill come into effect. Here is what everyone will need to know and how it will impact Accountants, BAS Agents, Bookkeepers, Solicitors, Real Estate and other professionals. These professionals will become the gatekeepers with further compliance added to their workflow.

AUSTRAC

New AML regulations are coming, and tax agents along with solicitors and real estate agents will soon have new compliance responsibilities.The Australian Taxation Office (ATO) does not set the country's Anti-Money Laundering (AML) laws; rather, the Australian Transaction Reports and Analysis Centre....

04/06/2026

Orange Man here with one you can't ignore: The ATO’s Small Business Super Clearing House (SBSCH) is being retired effective 30 June 2026.

If you have used this system to pay super for your clients' employees either now or historically, now is the time to act as once the SBSCH is closed, you will no longer have access to log in and retrieve historical data. It’s important to download any records you may need, including contribution history, payment confirmations and employee super details before the service is shut down.

What happens next?

Your clients will need to transition to an alternative super payment solution once the clearing house closes. There are a range of options available, including super payment functionality within accounting or payroll systems, as well as external clearing house providers.

This is the kind of thing that's easy to fix now and painful to fix in July.

👉 Log in. Download. Sort your alternative. Do it this week, not June 29.

04/06/2026

The end of the financial year is fast approaching on 30 June. To get the best tax outcome for your business, you should look at a few things now:

Instant Asset Write-Off:

If you’re planning to purchase equipment, ensure it is "first used or installed ready for use" by 30 June to claim it this year.

Super Contributions:

Consider making personal super contributions before 30 June to reduce your taxable income. Process your quarterly superannuation returns plus payments and any additional contributions by 15th June to allow clearance into nominated superannuation funds before 30 June.

*Key note: we suggest you process any payrolls for the month of June early (by 15 June if possible) and pay the superannuation contribution so that it has time to be received by your employees’ super funds through the clearing house in time.

Pay wages via bank when due. No need to pay early.

Failing to get the timing right can cost you and your employees an additional 15% in income tax should it exceed the capped contribution of $30,000 pa in the following financial year 2027.

Stocktake:

Plan your end-of-year stocktake for the close of business on 30 June.

Let’s book a quick chat to see which strategies will work best for you.

04/06/2026

Bay Business Solutions Group is a data security compliance company, secured using the gold standard in data security software for accounting firms: Practice Protect

https://practiceprotect.com/

03/06/2026

MYOB is phasing out offline functionality for its desktop versions.

Key changes include:

AccountRight Classic (v19 and earlier):

Decommissioned on February 28, 2026. These versions are now in "read-only" mode.

AccountRight Desktop App (PC Edition):

Starting June 17, 2026, you will no longer be able to open, edit, or save files locally.

All company files must be moved online to an active MYOB subscription to remain accessible and editable.

Server Edition: From version 2026.5 onward, Server Edition will be offline-only but will no longer receive future features or security enhancements.

If you'd like, let us know: Which specific version of MYOB you are currently using.

Whether your business has reliable internet access. We can help you look into transitioning your files online or exploring alternative workarounds for your current setup.

MYOB

03/06/2026

Xero is implementing price increases for its business and partner subscription plans in Australia, effective 1 July 2026.

The updates involve base plan increases ranging from 4% to 13%, and the removal of the multi-organisation discount.

Price Changes Breakdown (Monthly, Australia):

Business Plans:

New prices are $37 (Ignite), $78 (Grow), $107 (Comprehensive), and various Ultimate plans ranging from $143 to $300.Partner Plans: Ledger plans will increase by 7.7%, and Cashbook plans by 10%.

Key Adjustments:

The 1 July 2026 update removes the multi-organisation discount, which will increase costs for users with multiple subscriptions.