Accounting Heart

15/06/2026

Many parents are helping their adult children now, rather than waiting for wealth to pass through their estate.

Often, it is to help with a property deposit.

But before making a significant gift, it is worth asking a few important questions.

Is it a gift or a loan? Could it affect your retirement? What does it mean for your estate plan? Could it create tax or asset protection issues later?

Sonia discusses what to consider before giving money to adult children in this article:

Gifting money to adult children is becoming more common. Before you write the cheque, here's what parents need to consider to protect both generations.

11/06/2026

A timely reminder as we head into tax time. Scammers impersonating the ATO are most active right now and becoming increasingly convincing.

The free ATO app lets you verify whether a call is genuinely from the ATO, alerts you instantly when changes are made to your account, and allows you to lock your account if something feels wrong. Download it and register your device.

And remember, the ATO will never contact you with an unsolicited link or ask for personal details by email or SMS. If something feels off, do not engage.

Find out more here: https://www.ato.gov.au/online-services/online-services-for-individuals-and-sole-traders/ato-app/ato-app-information-for-tax-professionals/the-ato-app-helps-keep-you-secure -Helpingyoustaysafeonline

08/06/2026

If your property settlement involves SMSF assets, don't just look at their market value. Look at their net tax value.

An SMSF holding shares worth $2M with a $500,000 cost base has a $1.5M unrealised capital gain. When those shares are eventually sold, there's a significant CGT liability.

A 50/50 split based on market value isn't actually equal if one person gets assets with embedded tax liabilities and the other doesn't.

Request a tax analysis, not just a valuation.

04/06/2026

The 2026 Federal Budget included several proposed tax changes that may affect business owners, investors, trustees and family groups.

Key areas include capital gains tax, negative gearing, discretionary trusts, the instant asset write off, PAYG instalments and increased ATO compliance activity.

Importantly, many of these measures are still proposals, so this is not the time to make rushed decisions. It is, however, a good time to understand what may be changing and whether your business, investment or family structure could be affected.

We have summarised the key points in our latest blog:

The 2026 Federal Budget includes proposed changes to CGT, negative gearing, discretionary trusts and small business tax rules. Here’s what to know.

01/06/2026

Many people believe that assets held in a family trust are protected in a property settlement. But they are not.

The trust structure, who controls it, who the appointor is, and how it has operated all affect how those assets are treated. Getting the structure of any settlement wrong can trigger tax bills that would otherwise have been avoided entirely.

This is one of the most complex areas of property settlement. And it is one where accounting advice, alongside legal advice, makes an enormous difference to the outcome.

29/05/2026

Happy 10th Birthday to Accounting Heart! 🎉

Ten years in business is something we are incredibly proud of.

Not because it has always been easy, but because it has required exactly what we encourage in our clients: clarity, resilience, good advice, careful planning and the willingness to make thoughtful decisions, even when the path ahead is not perfectly clear.

And that feels especially relevant right now.

Business is tough for many people. Costs are higher, decisions feel heavier, and there is less room for guesswork. In times like these, planning matters. The right structure matters. Having trusted people around you matters.

For the past ten years, we have had the privilege of supporting clients through growth, change, uncertainty, big decisions and new chapters. We have also lived many of those lessons ourselves.

Accounting Heart has always been about more than numbers. It is about helping people build businesses and lives with more intention, confidence and care.

Thank you to every client, team member, advisor, collaborator and supporter who has been part of our story so far.

We are proud to be celebrating 10 years, and even more grateful for the people who have made it possible.

Here’s to the next chapter. 💚💙

28/05/2026

Travel claims are one of the areas that often create confusion at tax time, especially when business and personal travel overlap.

Many business owners are surprised by what the ATO will and will not accept when reviewing travel expenses.

Generally, you may be able to claim:
✓ Flights and accommodation for overnight business travel
✓ Meals and incidentals when sleeping away from home
✓ Car hire, public transport, taxis, parking and tolls
✓ Travel between two workplaces

But expenses such as:
✗ Home to work commuting
✗ Travel insurance
✗ Family travel costs
✗ Anything already reimbursed by your employer

…are generally not deductible.

Good record keeping matters, particularly where a trip includes both business and personal components.

You can read more about travel deduction rules here:

Not sure what travel expenses you can claim on tax in Australia? We break down deductible travel costs, the evidence you need, and how to handle mixed business and personal trips.

25/05/2026

A will says who inherits your wealth.

A testamentary trust helps protect it once it is passed on.

For anyone who has built significant assets, whether through business, property, investments or years of careful planning, the structure left behind matters just as much as the wealth itself.

A testamentary trust can help protect inherited assets from creditors, relationship breakdowns and legal claims against beneficiaries. It can also create long term tax planning advantages for families and future generations.

Many people are surprised to learn how much flexibility and protection these structures can provide when they are properly established as part of an estate plan.

If your estate, including superannuation and life insurance, has grown substantially over time, this is an area worth understanding properly.

21/05/2026

Not all tax or business advice is wrong. But not all advice is right for your business, either.

Over the years, we have seen clients approached with restructuring ideas, tax strategies or business advice that sounded appealing on the surface, but did not properly take their full situation into account.

In one case, a client came to us after being referred to an advisor they had never worked with before. They had been encouraged to restructure their business to avoid tax. Had they acted on the advice without review, it could have triggered unexpected tax consequences, compliance issues and ATO scrutiny.

That is why your first conversation should usually be with the accountant or advisor who already understands your business, structure, history and long term goals.

Good advice should never exist in isolation from the bigger picture.

You can read more here:

Has someone outside your trusted adviser network promised big tax savings for your business? The team at Accounting Heart wants to ensure that the advice you receive is tailored to work best for you.

18/05/2026

An SMSF gives you a level of control over your superannuation that many retail and industry funds do not.

For some people, that flexibility is incredibly valuable.

Direct shares. Commercial property. Managed funds. Alternative investments. And for business owners, the ability to hold commercial property inside the fund and lease it back to the business can create significant long term opportunities.

But greater control also means greater responsibility.

Compliance obligations, investment strategies, record keeping, annual audits, and keeping up with changing regulations all become part of the picture. It is not a set and forget structure.

For the right person, an SMSF can be one of the most powerful tools available for building wealth in superannuation.

The key is understanding whether it is the right fit before you commit.