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Trim Taxation & Accounting Trim Taxation & Accounting is a small professional accounting practice specialising in all your tax and accounting needs.

If your not-for-profit has an ABN and self-assesses as income tax exempt, you need to lodge an NFP self-review return wi...
23/10/2026

If your not-for-profit has an ABN and self-assesses as income tax exempt, you need to lodge an NFP self-review return with the ATO each year by 31 October.

The ATO has started issuing penalties to organisations that haven’t lodged their 2024–25 return, despite receiving reminders.

The good news is that if you respond to reminders and lodge your outstanding return, you can avoid penalties. However, repeatedly ignoring reminders could lead to fines or a review of your organisation’s eligibility for income tax exemption.

Therefore, ensure you:
❎Lodge your NFP self-review return between 1 July and 31 October each year.
❎Check that your organisation still qualifies for income tax exemption.
❎Keep your ABN details and contact information up to date so you don’t miss important ATO reminders.

If you’ve received a penalty notice and are worried about paying it, contact the ATO as soon as possible to discuss your options. ☝️

Keeping on top of your lodgments can save your organisation unnecessary stress and costs, so if you’re unsure what your not-for-profit needs to do, I'm always happy to help. 👋

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

If buying your first home is on your mind, the First Home Super Saver scheme could help you get there sooner. It lets el...
21/10/2026

If buying your first home is on your mind, the First Home Super Saver scheme could help you get there sooner. It lets eligible first-home buyers save for a deposit through their super, with some tax benefits along the way. 👌

Here’s how it works:

✔️Make extra contributions.
Add voluntary contributions to your super, including through a self-managed super fund.

✔️Save towards your deposit.
You may be able to withdraw up to $15,000 in eligible contributions from any one financial year, up to a total of $50,000.

✔️Receive associated earnings.
Your withdrawal can include earnings calculated using a rate set by the ATO.

✔️Enjoy tax benefits.
Eligible withdrawals receive concessional tax treatment, including a 30% tax offset on eligible amounts.

✔️Buy with your partner.
If you’re buying your first home together, you may both be able to use the scheme towards your deposit.

It’s worth checking whether you’re eligible and understanding the rules before making any decisions about your super.

For more information, visit the link below 👇:
https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/withdrawing-and-using-your-super/early-access-to-super/first-home-super-saver-scheme/about-the-fhss-scheme

A little planning today could help bring you one step closer to owning your first home 🏘️

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

28th of October is an important date, so take note of the below. 👇📍Activity statementsLodge and pay your July–September ...
19/10/2026

28th of October is an important date, so take note of the below. 👇

📍Activity statements
Lodge and pay your July–September quarterly activity statement.
Lodge and pay annual activity statements for closely held trusts where tax was withheld from beneficiary payments.

📍GST instalments
Check your GST instalment options and make any required elections or changes by the deadline. Pay your July–September GST instalment, and lodge any variation if needed.

📍GST reporting
Eligible quarterly GST reporters can elect to report GST annually by this date.

📍PAYG instalments
Eligible businesses may need to make their annual reporting election or confirm their reporting arrangements. Pay your July–September PAYG instalment and lodge any variation if required.

Not every deadline will apply to every business, so it’s worth checking which obligations are relevant to you. ☝️

If you're unsure what's due for your business, contact me via the details below.
I am here to help! 🙂

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

If your BAS is due, make sure it’s lodged and paid on time to avoid unnecessary stress, penalties or interest, and if yo...
16/10/2026

If your BAS is due, make sure it’s lodged and paid on time to avoid unnecessary stress, penalties or interest, and if you’re not sure what’s due or when, that’s what I’m here for. 🙂

Contact me via the details below, and let’s get it sorted.

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

Paying employees “cash in hand” or keeping wages off the books might seem like an easy way to save money, but the conseq...
14/10/2026

Paying employees “cash in hand” or keeping wages off the books might seem like an easy way to save money, but the consequences can be much bigger than you think. ☝️

💵When wages aren’t properly reported, employees can miss out on important entitlements, including superannuation, annual leave and other leave entitlements, public holiday entitlements and workplace protections.

💵It can also cause problems for employees when they need to prove their income for a home loan, rental application or other financial commitments. A bigger concern is that in some cases, they may discover their super hasn’t been paid when they retire.

💵For business owners, the risks can be even more serious, and deliberately avoiding your employer obligations leads to ATO audits, tax debts, penalties, interest and, in serious cases, prosecution. Company directors can also be personally responsible for certain PAYG withholding and super debts.

As an employer, make sure you:
📍Report all income, including cash payments
📍Withhold and pay PAYG withholding correctly and on time
📍Pay eligible employees their super in full and on time
📍Keep accurate records of wages, hours, super and employee details
📍Get professional advice if you’re unsure about your obligations

Paying your employees correctly helps protect them, your business and you as a business owner. If you’re unsure whether your payroll and employee payments are being handled correctly, it’s always better to ask for advice early. 🙂

If you’re not sure where you stand, get in touch with me via the contact details below.

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

Under Payday Super, super payments must be received by your employees’ super funds within 7 business days after payday. ...
12/10/2026

Under Payday Super, super payments must be received by your employees’ super funds within 7 business days after payday. ☝️

💰Check your employees’ super fund details. Before making a super payment for the first time, use the new member verification request where available. This allows your payroll software or clearing house to check that the employee’s super fund details are correct and that the fund can accept the payment. It’s also a good idea to check the details if an employee’s information changes or if a previous payment has been rejected.

💰Keep an eye on your payments. Super funds now have 3 business days to allocate or reject a payment; therefore, if a payment is rejected, check the error message, correct the details and resubmit the payment as soon as possible.

💰Know how to fix errors. Different payroll providers may show payment errors in different places, so make sure you know where to find them in your payroll system. The quicker you identify and fix an error, the sooner your super payment can be resubmitted.

Getting your payroll and super processes right will help you avoid unnecessary issues and keep your employees’ super payments on track. 👌

If you need any additional support or have any questions, feel free to contact me via the details below.

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

Reminder 📍21 October is an important date for some businesses, so if this applies to you, make sure you have:📍September ...
09/10/2026

Reminder 📍

21 October is an important date for some businesses, so if this applies to you, make sure you have:

📍September monthly activity statements lodged and paid
📍Quarter 1 PAYG instalment activity statement lodged and paid if you’re the head company of a consolidated group
📍Annual PAYG instalment notice paid by the due date

If you’re using the rate method or varying your annual PAYG instalment, this is also the final date to lodge. If you’ve already received your income tax assessment, you should not vary your annual PAYG instalment.

Don't forget!

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

If you’re closing, selling or making a big change to your business, there may be a few registrations you need to cancel ...
08/10/2026

If you’re closing, selling or making a big change to your business, there may be a few registrations you need to cancel or update, and there’s a little more to it than cancelling your ABN.

Before you cancel anything, make sure you:

📍Lodge any outstanding tax returns and activity statements
📍Pay any outstanding tax debts
📍Finalise employee obligations, including super and STP where applicable
📍Repay any refunds you weren’t entitled to

You still need to meet these obligations even if your business is closing.

Depending on your business, you may need to cancel registrations such as:

📍GST
📍PAYG withholding
📍FBT
📍Fuel tax credits
📍Luxury car tax
📍Wine equalisation tax

☝️If your ABN is staying active, you may only need to cancel the registrations you no longer require. If your business has permanently stopped trading, you’ll generally need to cancel your ABN; however, if you’re only taking a break and plan to restart your business, or you’re still using the ABN for another business activity, you may not need to cancel it.

☝️Remember, cancelling your registrations doesn’t mean your record-keeping and final lodgment obligations disappear. You may still need to lodge final tax returns and activity statements, complete employee and super reporting, and keep your business records for the required period.

If you’re closing or changing your business, don’t leave the tax side until the last minute. Speak to me first to make sure everything is properly finalised, and you’re not left with unexpected obligations later. 🙂

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

If you’re running a business on your own, being a sole trader is one of the simplest and most affordable business struct...
06/10/2026

If you’re running a business on your own, being a sole trader is one of the simplest and most affordable business structures in Australia. As a sole trader, you are the owner and controller of your business. This also means you’re personally responsible for the business, including its debts and losses. You can employ other people in your business, but you can’t employ yourself.

As a sole trader, tax still applies, and it’s important to remember:

☝️You use your individual TFN when lodging your tax return
☝️Your business income and expenses are included in your individual tax return
☝️You can have an ABN for your business activities
☝️You pay tax on your business income at your individual tax rates
☝️You may need to register for GST once your GST turnover reaches $75,000
☝️You may need to lodge BAS and make PAYG instalments, depending on your circumstances
☝️You can claim legitimate business expenses as tax deductions

You don’t have to pay the super guarantee as a sole trader; however, you can choose to make personal super contributions to help build your retirement savings. Depending on your circumstances, these contributions may also be tax-deductible. If you employ workers, you’ll need to meet your employer obligations, including paying eligible workers their super.

One important thing to remember is that money you take from your business for personal use isn’t a tax deduction. Being a sole trader can be a great option for some businesses, but it’s important to understand the responsibilities that come with it. 👌

Contact me via the details below, and let’s discuss if a sole trader structure is right for you. I’m here to help.

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

If you earn money delivering food or goods through an app like Uber Eats or DoorDash, your tax obligations can depend on...
02/10/2026

If you earn money delivering food or goods through an app like Uber Eats or DoorDash, your tax obligations can depend on whether you’re considered an employee or an independent contractor.

Here are a few things to keep in mind.

📍If you’re an employee, you generally don’t need an ABN for your employment.
If you’re working as a contractor, you’ll generally need an ABN, and if your GST turnover reaches $75,000, you’ll also need to register for GST.

📍If you’re a contractor and registered for GST, you’ll need to report the GST you collect through your BAS. It’s a good idea to put the GST you collect aside so you’re not caught short when your BAS payment is due.

📍Employees generally report their delivery income as salary and wages, whereas contractors report their business income and expenses in the business section of their tax return.

📍You may be able to claim expenses that relate to earning your delivery income, provided you meet the ATO's requirements. This could include certain vehicle, phone and other work-related expenses.

📍Just remember, if something is used for both work and personal reasons, you can generally only claim the work-related portion, and make sure to keep any receipts or records.

It’s worth getting advice before tax time so you know you’re reporting everything correctly, so contact me via the details below. I'm here to help. 🙂

Tracie 👋
Ph: 0410 133 364
Email: [email protected]

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