Ward & Ilsley Partners

19/06/2026

💻How to report all income you earn online when you lodge

When earning income through digital platforms or apps, you may need to include it in your tax return.

Money you earn through digital platforms or apps, is sharing economy income and you need to report it in your tax return.

This income can include payments you receive for:

🚕ride-sourcing, taxi, limousine or delivery services
🏰short-term accommodation or property sharing
🚁renting or hiring out assets (for example, vehicles, equipment or parking)
🎙️creating or selling digital content, goods or online entertainment
👩‍🏫task-based, freelance or on-demand services arranged online.

When earning income through digital platforms or apps, you may need to include it in your tax return.

18/06/2026

Payday Super myths 🧙

The Australian Taxation Office dispel common myths about Payday Super so you can support your clients with the right information.

With only a couple of weeks left before Payday Super starts, the ATO have pulled together some of the most common myths.

https://www.ato.gov.au/tax-and-super-professionals/for-tax-professionals/tax-professionals-newsroom/payday-super-myths

17/06/2026

Payday Super update

🔍 What are “Qualifying Earnings” (QE)

Qualifying earnings are the payments employers must use to calculate super guarantee (SG) under Payday Super from 1 July 2026. QE includes:
• Ordinary time earnings (OTE) – ordinary hours, paid leave, allowances, bonuses, lump sums
• All commissions
• Salary sacrifice amounts that would have been QE if paid as salary
• Payments to independent contractors mainly providing labour (expanded employee definition)

📅 What Changes for Employers
Before 1 July 2026
• SG = 12% of OTE
• Super paid quarterly
• STP reporting: OTE and/or super liability
• Reporting contractor payments is optional
From 1 July 2026
• SG = 12% of QE
• Super must be paid on payday
• STP must report both QE and super liability for each employee
• Mandatory reporting for eligible contractors
• STP reports missing both fields will be rejected from 1 July 2027

🧾 Why Both QE and Super Liability Are Reported
• QE becomes the new base for SG calculations
• Employers may still owe additional super under awards or agreements
o These amounts may not be QE but must still be reported as super liability in STP

📘 OTE vs QE – Key Differences
The fact sheet provides a comparison of common payments. In general:
• Most OTE items become QE
• Overtime remains not QE
• Salary sacrifice amounts are QE if they would have been OTE
• Some payments (e.g., commissions outside ordinary hours) may be QE even if not OTE

https://www.ato.gov.au/businesses-and-organisations/super-for-employers/payday-super/paying-super-on-payday/what-payments-are-qualifying-earnings

16/06/2026

Preparing for Payday Super

What to do before 1 July 2026

You need to:
🔑Check with your digital service provider for
payroll services on when your software will
be ready to support improved error messaging
and the new MVR, and any changes you need
to make.

🔑Review error messages you receive from super
funds. Any payments you currently make that
receive a warning or information message could
be rejected after 1 July 2026.

🔑Review how you pay contributions. Find out
when your payroll, clearing house or super fund
will be ready to support NPP, if there are any
updates you need to make, and how long
payments will take to reach a super fund.

🔑Check your default super fund registration
details are up to date.

🔑Stay up to date – look for updates from the
ATO, your digital service provider and your
super funds.

https://www.ato.gov.au/businesses-and-organisations/small-business-newsroom/take-advantage-of-our-top-payday-super-resources

15/06/2026

Key Points from the Australian Taxation Office “Tax time toolkit” Toolkit Page

🧰 What the toolkit is
The ATO has released its Tax Time Toolkit for small business to help businesses prepare, lodge, and stay organised for tax time. It’s designed to be practical and easy to use, supporting businesses not only at tax time but throughout the year.

📚 What’s inside
It includes a directory of links to essential information, tools, calculators, and learning resources to help save time and make informed decisions.

📝 Key topics covered
The toolkit provides guidance on major small business tax areas, including:
• Home based business expenses
• Motor vehicle expenses
• Travel expenses
• Digital product expenses
• Using business money and assets
• Pausing or closing a business

Information to help small businesses at tax time and all year round.

12/06/2026

The ATO is alerting the community to a growing tax scheme involving ‘barter credits’, trade credits used in some business networks.

Promoters encourage individuals or businesses to buy barter credits and donate them to deductible gift recipients (DGRs), claiming a tax deduction for the inflated face value of those credits. This arrangement is illegal and described in TA 2025/3.

How the scheme works
• Participants pay for access to barter credits.
• The business network inflates the value of those credits.
• Donors then claim a tax deduction for the inflated amount.
• This deprives the community of essential funds and is considered fraud.

🚧Why it’s risky
Engaging in this scheme may expose individuals or businesses to:
• ATO investigation
• Repayment of tax with penalties and interest
• Potential legal action

It can also trigger investigations into the DGRs receiving the donations, even if they were unaware of the scheme.

❗Warning signs to watch for
The ATO highlights common red flags:
• Promoters who are pushy, especially around tax time
• High fees or commissions based on tax saved
• Appeals framed as supporting a good cause (e.g. arranging barter credit donations)
• Requests for secrecy

The ATO stresses: If it sounds too good to be true, it probably is.
What to do
• Reject any suspicious offers
• Report them to the ATO

https://www.ato.gov.au/businesses-and-organisations/business-bulletins-newsroom/grifting-not-gifting-avoid-dodgy-donations

11/06/2026

Top 5 EOFY Tips for Trustees

With 30 June approaching, the ATO is reminding trustees to get the essentials right to avoid higher tax, penalties, or invalid distributions.

Key takeaways include:
• Know your trust deed — Understand how income is defined and avoid common mistakes like confusing accounting profit with distributable income
• Identify the correct beneficiaries — Ensure distributions align with the deed and any family trust elections in place
• Make valid resolutions by 30 June — Timing is critical; late or invalid resolutions can trigger default beneficiary rules or top rate tax
• Keep complete records — Bank statements alone aren’t enough; maintain written evidence for expenses and losses
• Check holding period rules — Trustees and beneficiaries must meet eligibility requirements to claim franking credits

A timely reminder to review your deed, document resolutions properly, and keep your records tight as EOFY approaches.

Tips to help trustees avoid basic errors that can lead to higher tax labilities and penalties.

09/06/2026

2026 Year-End Tax Planning Guide – Part 2

Following on from Tax Planning Part 1. As the end of the financial year approaches, now is the ideal time to review your financial position.

Following on from Tax Planning Part 1. As the end of the financial year approaches, now is the ideal time to review your financial position.

08/06/2026

2026 Year-End Tax Planning Guide – Part 1

As the end of the financial year approaches, now is the ideal time to review your tax position and consider strategies that may help minimise tax and improve cash flow.

As the end of the financial year approaches, now is the ideal time to review your tax position and consider strategies that may help minimise tax and improve cash flow.

05/06/2026

SMEs to be hit hardest by new trust tax reforms

Australia’s proposed discretionary trust tax reforms could put a significant financial burden on small and family-run businesses, an advisory firm has warned.

Australia’s proposed discretionary trust tax reforms could put a significant financial burden on small and family-run businesses, an advisory firm has warned.