Candid Books Accounting and Taxation Services

Candid Books Accounting and Taxation Services CPA Certified. Expert accounting and tax solutions for businesses and individuals. Contact us on 03 9997 8710 📞 Accounting & Bookkeeping services
Tax consultants

Accounting & Bookkeeping
Tax preparation & planning
Business advisory

Save time and money with our professional, personalized approach.

23/06/2026

Small business owners this is the time to restructure
✅ The 50% active asset CGT concession threshold is rising from $2M → $10M turnover
✅ All 4 existing small business CGT concessions remain intact
✅ Change is proposed from 1 July 2027
✅ Gains accrued before that date retain the current 50% discount rules

This is significant for business owners planning a sale, succession, or retirement.

Not yet legislated — but now’s the time to review your structure and plan ahead.

DM us or book a call to understand how this affects your situation.

CapitalGainsTax AccountingAustralia

21/06/2026

Locking in your property’s value before it’s too late could save you thousands at tax time. 🏠📈

If you’re planning to sell an investment property down the track, getting a formal valuation as at 1 July 2027 could be a smart move. Here’s why:

✅ Establishes a clear cost base for future Capital Gains Tax (CGT) calculations
✅ Can help separate gains made before and after a change in the property’s use (e.g. moving from main residence to investment, or vice versa)
✅ Provides documented evidence to support your position if the ATO ever reviews your return
✅ Gives you clarity now, rather than scrambling for records years down the line

Thinking about your investment property strategy? The team at Candid Books Accounting and Taxation Services can help you plan ahead:

📞 03 9997 8710
📧 [email protected]

CandidBooks PropertyTax RealEstateTips

20/06/2026

Did you know your charitable donations could reduce your taxable income? Here’s what you need to know. 💼

To claim a tax deduction, your donation must be made to an organisation registered as a Deductible Gift Recipient (DGR) — this status is granted by the Australian Taxation Office and confirms the organisation is eligible to receive tax-deductible gifts.

✅ Donations of $2 or more to a DGR-registered charity are generally tax-deductible
✅ Keep your receipt — it’s your proof for tax time
✅ Check an organisation’s DGR status on the ABN Lookup register before donating
✅ Deductions can only be claimed in the financial year the donation was made

Giving back is rewarding in more ways than one — generosity and savvy tax planning can go hand in hand. 🤝

Need help maximising your deductions or planning your tax this EOFY? Get in touch with the team at Candid Books Accounting and Taxation Services:

📞 03 9997 8710
📧 [email protected]

*This information is general in nature. Always consult a registered tax agent or accountant for advice on your individual circumstances.

Philanthropy GivingBack CandidBooks

18/06/2026

Busting Fedral Budget Myths! Part 2

Got flooded with questions after Part 1, so let’s bust three more big myths floating around!

MYTH 1: “Negative Gearing is GONE!”

BUSTED! ❌

Negative gearing is NOT abolished. Here’s what’s actually true:

✅ Existing properties (owned or under contract before Budget night) = fully protected, no change
✅ New builds = still fully negative geared, before AND after July 2027
⚠️ Only established properties bought from 13 May 2026 onwards have restrictions - and even then, losses aren’t lost, they’re just quarantined against rental income and carried forward

None of the above changes apply to your purchase in Self Managed Superannuation Funds!

Negative gearing isn’t dead. It’s just more targeted!

MYTH 2: “I’ll Have to Pay CGT Next Year Even If I Don’t Sell!”

BUSTED! ❌

This one causes a LOT of unnecessary panic!

CGT is only triggered when you actually SELL or dispose of an asset. No sale = no CGT event = nothing to pay!

The new CGT rules (inflation-based discount + minimum 30% tax) only apply to gains arising after 1 July 2027 - and even then, ONLY when you sell.

Holding your property? You owe nothing in CGT, this year, next year, or any year you don’t sell!

MYTH 3: “Trust Distributions Are Unaffected!”

BUSTED… partially! ⚠️

This is where it gets nuanced:

❌ Most trusts ARE affected by the negative gearing changes, the same way individuals, partnerships and companies are
✅ BUT widely held trusts (like most managed investment trusts) and superannuation funds, including SMSFs, are excluded

So if you’re investing through a family trust or discretionary trust, the new rules likely apply to you. If you’re investing through your super or a large managed fund, you’re in the clear!

THE BIG TAKEAWAY:

These changes are nuanced, not blanket bans. Your specific structure, purchase date, and property type all matter!

Don’t make property decisions based on headlines, get advice based on YOUR situation!

📞 03 9997 8710
📧 [email protected]

General advice only - book a consultation for advice specific to your situation

12/06/2026

Business Summit

04/06/2026

NEGATIVE GEARING CHANGES - What You Actually Need to Know!
My phone has been blowing up with property investor questions since the budget announcement so let me clear up the confusion!
THE KEY DATE: 7:30pm, 12 May 2026 (Budget Night)
ALREADY OWN A PROPERTY? 😮‍💨 RELAX!
If you held your property or were already under contract before Budget night, you are fully grandfathered - nothing changes for you!
Negative gear as usual until you sell! ✅
BOUGHT AFTER BUDGET NIGHT? HERE’S THE CHANGE:
If you buy an existing residential property from 13 May 2026 onwards, you won’t be able to use negative gearing losses against your salary or other income.
Instead:
❌ Can’t offset losses against wages
✅ Can only offset against other rental income
✅ Can carry forward losses to future years
✅ Can offset against future capital gains
NEW BUILDS? STILL FULLY PROTECTED! 🏗️
Investors who buy new builds will still be able to deduct losses from other income - negative gearing fully applies!
CGT DISCOUNT ALSO CHANGING:
The 50% CGT discount will be replaced with an inflation-based discount from 1 July 2027, with a minimum 30% tax on gains - but only applies to gains arising AFTER 1 July 2027.
WHAT ABOUT COMMERCIAL PROPERTY & SHARES?
Changes only apply to residential property - commercial property and shares keep the existing arrangements!
QUICK SUMMARY:
🏠 Property before Budget night = No change ✅
🏠 Established property after Budget night = Losses quarantined ⚠️
🏗️ New builds = Still fully negative geared ✅
📈 Shares & commercial = No change ✅
Still confused about YOUR specific situation? This is exactly what we’re here for!
Call us before making ANY property decisions!
📞 03 9997 8710
📧 [email protected]
General advice only - book a consultation for advice specific to your situation
TaxChanges PropertyInvestor CandidBooks MelbourneAccountant PropertyTax ATO RealEstate TaxPlanning CGT PropertyStrategy

⏰ The clock is ticking!The tax return deadline is just around the corner — 12 June is coming up fast!If you’re a busines...
28/05/2026

⏰ The clock is ticking!

The tax return deadline is just around the corner — 12 June is coming up fast!

If you’re a business owner and haven’t lodged your tax return yet, now is the time to get your documents in order. Don’t leave it to the last minute and risk penalties or interest charges from the ATO.

📋 Here’s what to have ready:
✅ Income records & invoices
✅ Business expense receipts
✅ Bank statements
✅ Payroll & superannuation records
✅ Any asset purchases or disposals

Not sure if you’re on track? We’re here to help! At Candid Books, we take the stress out of tax time so you can focus on running your business. 💼

📩 DM us or visit the link in bio to book a consultation before the deadline.

⚡ Don’t wait — spots are filling up fast!

ATODeadline BusinessTax AccountingMelbourne CandidBooks MelbourneAccountant TaxHelp BookkeepingAustralia TaxSeason SmallBusinessOwner ATO

17/05/2026

🎤✨ Golden Mic moment at BNI this week — and I’m still smiling!

Being recognised at my BNI chapter is such a reminder of *why* I show up every week. The connections, the referrals, the energy in that room… it genuinely fills my cup. 🙌

For those who don’t know me yet — I’m Akshay, and I run **Candid Books**, a bookkeeping and accounting business based in Melbourne’s west. I work together to take the stress out of numbers for small and medium business owners — bookkeeping, tax, tax planning and business advisory, all under one roof. 💼📊

If your books are a mess, your BAS is overdue, or you just want someone in your corner who *gets* small business — let’s chat!

📍 Williams Landing, Melbourne
📩 DM me or visit the link in bio

SmallBusinessMelbourne Bookkeeping AccountingMelbourne WomensBusinessNetwork BNIMelbourne MelbourneWest SmallBizSupport

07/05/2026

CPA Graduation Ceremony 👨‍🎓
5 year flashback 🎉

There’s something special about sitting down with a group of incredible women and jus...
29/04/2026

There’s something special about sitting down with a group of incredible women and just... connecting. 💛
stole the show with her inspiring career story! Living example of hard work always pay off you just have to keep knocking the doors and the roght one will open up one day.
I had the loveliest time visiting the HIA Insurance building for a women’s networking lunch today. No agenda, no pressure — just genuine conversations, shared experiences, and the kind of connections that actually stick.

I walked away with new friends, fresh perspectives, and a full heart. These are the moments that remind me why showing up matters.

Thank you to everyone who was part of it — you know who you are! 🙌

Connection

Address

305/111 Overton Road, Williams Landing
Melbourne, VIC
3027

Telephone

+61399978710

Website

Alerts

Be the first to know and let us send you an email when Candid Books Accounting and Taxation Services posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Candid Books Accounting and Taxation Services:

Shortcuts

Share

Category