SMH Accountants & Advisors

SMH Accountants & Advisors SMH Accountants & Advisors is dedicated to providing top-notch accounting and taxation services to individuals and businesses of all sizes.

04/09/2026

$1,820. That's the maximum penalty for lodging late in 2026 — and it's higher than it used to be. 📈

What waiting on your tax return actually costs:

Failure-to-lodge penalty: $364 for every 28 days overdue, capped at $1,820
General interest charge on any tax debt: 11.43% p.a., compounding daily
That interest is no longer tax-deductible — changed from 1 July 2025, so it's a straight cost now
E-lodged returns are typically processed within about 2 weeks, so lodging now means your refund lands sooner too

There's no upside to waiting until October. Only a bigger number.

📞 Book your tax return this week. Link in bio.



(tax return deadline, failure to lodge penalty, ATO general interest charge, individual tax return Australia, lodge tax return online, tax refund Melbourne, registered tax agent, income tax return 2026, ATO penalty unit, tax time Australia)

28/08/2026

The $20,000 instant asset write-off business owners have relied on could be about to shrink dramatically, and a lot of people haven't clocked it yet.

Under current law, from 1 July it drops from $20,000 down to just $1,000 per asset. That means most equipment purchases would need to be depreciated gradually over several years, rather than claimed upfront, unless the government's proposal to make the $20,000 threshold permanent actually passes. Right now, it hasn't.

If you're planning a big equipment purchase and banking on an instant deduction, your cash flow and your tax bill could end up looking very different to what you expected.

We're already helping clients time their purchases around this, so there are no surprises when it counts.

DM "STRUCTURE" and we'll help you plan your next purchase the smart way.

📞 03 9969 1247
🌐 smhaccountants.com.au



Instant asset write-off, small business tax deduction, equipment depreciation, ATO asset threshold, business tax planning, cash flow tax planning, SMH Accountants

Sole traders and contractors, there's a new wrinkle for 2026 worth knowing about.The ATO is now pre-filling your contrac...
24/08/2026

Sole traders and contractors, there's a new wrinkle for 2026 worth knowing about.

The ATO is now pre-filling your contractor and gig income directly into your tax return. Sounds convenient — but that data doesn't actually land until after 28 August. Lodge before then, and you could be filing based on incomplete information, which usually means going back and fixing things later.

The simple move: wait until the 28th has passed before you submit.

DM "TIME" and we'll let you know exactly when your return is ready to go.

📞 03 9969 1247
🌐 smhaccountants.com.au



(Sole trader tax return, contractor income ATO, gig economy tax, ATO pre-fill data, 2026 tax return, lodging early mistake, SMH Accountants)

21/08/2026

Thinking about redrawing on your investment loan for something personal? It could quietly cost you thousands down the track.

The ATO looks at what a redraw is actually used for. The moment you spend it on something personal, that portion of the interest stops being tax deductible, even if it's coming out of the same loan you use for your investment.

This is what's known as a mixed-purpose loan, and the ATO is actively matching bank data against what investors are claiming.

Here's the part most people don't realise: one personal redraw on a large loan can shrink your deduction for years, not just for that one transaction. And refinancing doesn't undo it either.

The smarter move is talking to us before you redraw, not after.

DM "AUDIT" and we'll check your loan structure first.

📞 03 9969 1247
🌐 smhaccountants.com.au



Mixed-purpose loan, investment loan redraw, interest deductibility, property investor tax, ATO data matching, loan structure advice, SMH Accountants

Property investors, here's a distinction that trips a lot of people up: repair vs. improvement.If you're restoring somet...
17/08/2026

Property investors, here's a distinction that trips a lot of people up: repair vs. improvement.

If you're restoring something back to its original condition — patching a leak, replacing a broken window — that's a repair, and it's deductible straight away. But if you're making the property better than it was — a new kitchen, an extra deck, a full renovation — that's an improvement, and it has to be claimed gradually over several years.

Get this the wrong way round on your return, and the ATO will reclassify it for you, often well after you've already lodged.

Before you submit anything, DM "INVEST" and we'll go through your property expenses with you.

📞 03 9969 1247
🌐 smhaccountants.com.au



(Property investor tax, repair vs improvement, tax deductions, capital works deduction, rental property expenses, ATO classification, SMH Accountants)

14/08/2026

Made a bit of extra money this year driving rideshare, renting out a room, or selling online? There's a good chance the ATO already knows about it.

Rideshare and short-stay platforms have been reporting data straight to the ATO since 2023, with food delivery and online marketplaces added in 2024. And if you're trading for profit, there's no minimum threshold to worry about — it all needs to be declared.

The upside: most of the costs involved in earning that income are deductible too, things like fuel, platform fees, or a portion of your car or home office running costs.

Leave it off your return, though, and it's rarely a question of if the ATO notices — just when. And penalties tend to follow.

We'll help you report it correctly the first time, so there are no surprises later.

DM "REVIEW" and let's get your side income sorted properly.

📞 03 9969 1247
🌐 smhaccountants.com.au



Side income tax, rideshare tax ATO, short-stay income declaration, online selling tax, gig economy reporting, ATO data matching, SMH Accountants

31 October isn’t always the final word on your tax return deadline. 📅 If you’re lodging your own tax return, 31 October ...
10/08/2026

31 October isn’t always the final word on your tax return deadline. 📅

If you’re lodging your own tax return, 31 October is generally the deadline. However, if you’re registered with a tax agent before the relevant cut-off and eligible for their lodgment program, you may have access to a later due date.

The key? Don’t leave it until the last minute.

Getting organised early means less stress, fewer surprises and more time to make sure your return is prepared correctly.

💬 DM “BOOK” to discuss your tax return and applicable lodgment deadline.

📞 03 9969 1247
✉️ [email protected]
🌐 smhaccountants.com.au

Eligibility and lodgment due dates depend on individual circumstances.



{tax return deadline Australia, 31 October tax deadline, registered tax agent Australia, tax return lodgment, ATO tax deadline, individual tax return Australia, tax accountant Melbourne, tax agent Melbourne, SMH Accountants, tax return help Australia}

07/08/2026

The working-from-home shortcut everyone used to rely on doesn't fly anymore.

The ATO now expects a genuine, full-year record of your hours, not a guess from memory in June.

Get the records right and 70 cents an hour adds up fast. Get them wrong, and the ATO can knock out the whole claim, not just trim it.

DM “DEDUCTIONS” and we'll work out which method - fixed rate or actual cost — actually gets you the better outcome.

📞 03 9969 1247
🌐 smhaccountants.com.au



{work-from-home deductions, ATO record-keeping, fixed-rate method, actual-cost method, tax deductions Australia, Melbourne accountant}

Tax deductions can easily be overlooked when expenses are spread across work, memberships and professional development. ...
03/08/2026

Tax deductions can easily be overlooked when expenses are spread across work, memberships and professional development.

Depending on your circumstances, you may be eligible to claim expenses such as:

✅ Income protection premiums
✅ Union or professional association fees
✅ Self-education related to your current role
✅ Work-related tools, equipment and technology
✅ Eligible working-from-home expenses

The key is knowing what qualifies and keeping the right records.

💬 DM “DEDUCTIONS” to book a consultation and make sure you are not missing legitimate claims.

📞 03 9969 1247
🌐 smhaccountants.com.au

General information only. Eligibility depends on your individual circumstances and applicable tax rules.



{tax deductions, work-related expenses, income protection, self-education expenses, working-from-home deductions, Australian accountant}

31/07/2026

The ATO's system compares your return against your employer's payroll data, your bank's interest
reports, and industry benchmarks — automatically, before a human ever looks at it.

Most flags aren't fraud. They're mismatches, over-claiming without records, or numbers that just look
unusual for your industry.

But they can still mean a delayed refund or a letter you didn't want.

DM “READY” and we'll check everything lines up before you lodge.

📞 03 9969 1247
🌐 smhaccountants.com.au

Address

82 Mount Alexander Road, Travancore , Victoria
Melbourne, VIC
3032

Opening Hours

Monday 8:30am - 7:30pm
Tuesday 8:30am - 7:30pm
Wednesday 8:30am - 7:30pm
Thursday 8:30am - 7:30pm
Friday 8:30am - 7:30pm

Website

Alerts

Be the first to know and let us send you an email when SMH Accountants & Advisors 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 SMH Accountants & Advisors:

Shortcuts

Share

Category