TaxSmart Cafe

TaxSmart Cafe Accountant, NDIS Plan Manager, SMSF Specialist - We are Tax Specialists for health care professionals

Our Goal
Education is wealth and proper preparation wins half the battle! Thus we aim to educate and equip you - whether as an individual or as a business owner - in effectively managing your finances. Our experienced and customer service oriented team will support you in your journey towards achieving your financial objectives through a range of tools and services on accounting, bookkeeping, payr

oll, Xero setup and tutorials, business coaching, tax minimisation strategies, and even property investment analysis.

Mabuhay! 🇵🇭 Honoured to attend Filipino Community Council of Victoria Incorporated’s 128th Philippine Independence Day G...
19/06/2026

Mabuhay! 🇵🇭 Honoured to attend Filipino Community Council of Victoria Incorporated’s 128th Philippine Independence Day Gala Night ✨

Celebrating 128 years of independence, culture, and Filipino pride, and acknowledging FCCVI’s ongoing initiatives in cultural preservation, youth engagement, seniors support, and community settlement programs that strengthen and connect the Filipino community in Australia

🎄✨ CHRISTMAS IN JULY IS HERE! ✨🎄At TaxSmart Cafe, we believe tax time is also a time to give back.This July 2026, for ev...
19/06/2026

🎄✨ CHRISTMAS IN JULY IS HERE! ✨🎄

At TaxSmart Cafe, we believe tax time is also a time to give back.

This July 2026, for every tax return lodged with us, we’ll donate $1 to support youth participation at Ignite Conference 2026 in Brisbane. Every appointment, every tax return, and every contribution helps create opportunities for young people to grow, connect, and be inspired.

It may seem like a small amount, but together we can make a meaningful impact in our community.

Thank you for trusting TaxSmart Cafe with your tax needs while helping us support the next generation. ❤️

📅 Lodge your tax return this July and be part of something bigger.

Tax losses occur when your allowable deductions exceed your assessable income in a given year. Rather than being written...
19/06/2026

Tax losses occur when your allowable deductions exceed your assessable income in a given year. Rather than being written off entirely, tax losses in Australia can be carried forward and offset against future income — potentially saving you significant tax in a future high-income year.

Individuals can carry forward tax losses indefinitely. If your rental property produces a net loss that exceeds your other income, the excess loss is carried forward to future years. If your business makes a loss, that loss may also be available to offset future business or passive income (subject to non-commercial loss rules, which can restrict losses from activities not conducted in a genuinely commercial manner).

Capital losses are treated differently to income losses — they can only be applied against capital gains, not ordinary income. And they cannot be converted or mixed with income losses. However, they carry forward indefinitely and can be used to offset future capital gains.

For the 2025–26 year, if you're sitting on capital losses that have no gains to offset, consider whether there are any gains you could realise before June 30 to use the losses efficiently. Alternatively, assess whether there are strategies to maximise gains in a year when you have available capital losses.

TaxSmart Cafe tracks clients' carried-forward losses across years and ensures they're applied optimally in each return. Never let a carried-forward loss go to waste.

19/06/2026

📸 Meet Angelito Valdez! From a $600 camera to capturing weddings, events, and community stories. Search Angelito Valdez Jr. Photography today! Angelito Valdez Jr.

Charitable giving before June 30 is a genuinely win-win financial and social action. You support causes you care about, ...
18/06/2026

Charitable giving before June 30 is a genuinely win-win financial and social action. You support causes you care about, and you receive a tax deduction that reduces your assessable income for the 2025–26 year. With only 12 days left, now is the time to make those donations.

Remember: to claim a tax deduction, the donation must be $2 or more, made to a Deductible Gift Recipient (DGR) organisation, and must be a genuine gift (not in exchange for goods or services of significant value). You can verify DGR status at ato.gov.au/ABNLookup.

Some giving strategies to consider: make a single larger donation to a cause you're passionate about (more impact, same administrative effort); consider a workplace giving arrangement if your employer offers one (donations come directly from pre-tax salary, making them even more efficient); investigate donor-advised funds or community foundations, which allow you to make a tax-deductible donation now and direct the funds to charities over time.

For high-income earners, charitable giving can be particularly tax-efficient. If you're in the 47% tax bracket (including Medicare Levy), a $10,000 donation effectively costs you $5,300 after the tax benefit. That's a powerful way to amplify the impact of your giving.

TaxSmart Cafe can advise on structuring your charitable giving for maximum tax efficiency. Come in before June 30 and let's make the most of your generosity.

For small business owners, the Capital Gains Tax (CGT) concessions available under Division 152 of the tax law are among...
17/06/2026

For small business owners, the Capital Gains Tax (CGT) concessions available under Division 152 of the tax law are among the most valuable provisions in the entire tax code. If you're selling your business, transferring assets, or winding up a company, these concessions can dramatically reduce — or even eliminate — your CGT liability.

There are four main small business CGT concessions: the 15-year exemption (if the business is at least 15 years old, the entire capital gain is exempt), the 50% active asset reduction (a 50% reduction in the capital gain for active assets), the retirement exemption (up to $500,000 of capital gain can be exempted if contributed to super or if the taxpayer is over 55), and rollover relief (deferral of CGT on replacement assets).

To access these concessions, you must meet the basic conditions: your aggregated turnover is under $2 million, or the market value of your net business assets is under $6 million. The assets must be active assets used in carrying on a business.

These concessions require careful planning and implementation. The conditions must be met at the time of the sale event — they can't be backdated. TaxSmart Cafe works with business owners who are considering a sale to ensure they meet the conditions, time transactions correctly, and maximise the available concessions.

🏆 Congratulations to TaxSmart Cafe on being named Fastest Growing Accounting Firm of the Year at the Australian Accounti...
16/06/2026

🏆 Congratulations to TaxSmart Cafe on being named Fastest Growing Accounting Firm of the Year at the Australian Accounting Awards 2026!

This achievement reflects the dedication, expertise, and commitment of the entire team in helping businesses and individuals achieve financial success. Thank you to every client, partner, and supporter who has been part of this incredible journey.

Here's to continued growth, innovation, and making smart money moves together! 🎉

Read it here: https://www.accountingtimes.com.au/profession/winners-unveiled-for-australian-accounting-awards-2026?fbclid=IwY2xjawSdqatleHRuA2FlbQIxMABicmlkETJiR1lacnk3WktlRWY4ekNsc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHsWEXU8ulQHjnXEGUuhTwCVvly9NV8xtqJcFwJvGmCGkdMXMVm7xDoxl84nE_aem_FXoufbGYilRl-d7YbIjOpg

The distinction between being an employee and an independent contractor is one of the most contested and consequential c...
16/06/2026

The distinction between being an employee and an independent contractor is one of the most contested and consequential classifications in Australian tax law. Getting it wrong — in either direction — can result in significant liability for both the worker and the engaging business.

The ATO uses a multi-factor test to determine whether a worker is an employee or contractor. Key factors include: how the work is done (employee follows direction; contractor has autonomy), who provides equipment and tools, whether the worker can subcontract, whether the worker has an ABN, and whether the payment is for time or results.

For workers: if you're classified as a contractor but the facts suggest you're actually an employee, you may be missing out on super contributions, annual leave, sick leave, and other entitlements. You're also potentially at risk of having your income reclassified, with back-taxes and penalties.

For businesses: engaging workers as contractors when they should be classified as employees is a major compliance risk. The ATO, Fair Work Commission, and state WorkCover authorities all scrutinise this classification. The 'sham contracting' rules can result in significant penalties for businesses that misclassify employees as contractors to avoid employment obligations.

TaxSmart Cafe regularly assists both workers and businesses with employment classification assessments. If you're uncertain about your status, seek advice before June 30 — the stakes are too high to guess.

When growing doesn’t just mean in numbers, but also in learning, experience, laughter and partnerships 🌱
15/06/2026

When growing doesn’t just mean in numbers, but also in learning, experience, laughter and partnerships 🌱

15/06/2026

🏆 Congratulations to TaxSmart Cafe on being named Fastest Growing Firm of the Year at the Australian Accounting Awards 2026!

This incredible achievement reflects the team's dedication, innovation, and commitment to helping clients make smarter financial decisions. What started as a vision has grown into an award-winning firm making a real impact in the accounting industry.

Here's to continued growth, success, and helping even more individuals and businesses thrive. 🎉

Address

Suite 218, 480 Collins Street Melbourne
Melbourne, VIC
3000

Opening Hours

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

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