Taxsmart Cafe- Casey

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Narre Warren, VIC
Taxsmart Cafe- Casey

We are a team of friendly and committed professionals with a common goal of enabling our clients succeed in their personal and business financial goals.

Services Offered:
- Individual Tax Return
- Business Taxation
- Property Investment Analysis
- Company Start up
- Bookkeeping

24/06/2026

If you are a trustee of a discretionary (family) trust, this post is critically important. Under Australian tax law, a trust's net income must be distributed to beneficiaries by June 30 each year — and crucially, the trust resolution specifying how income is distributed must also be made by June 30.

If a valid distribution resolution is not made by midnight on June 30, the trustee will be assessed on the trust's net income at the top marginal rate of 45% (plus Medicare Levy). That's an extraordinarily expensive mistake that cannot be rectified after the fact.

What does a valid trust resolution look like? It must be in writing, specify the beneficiaries and the amount or percentage each will receive, be made by the trustee (or all trustees if there are multiple), and be dated no later than June 30. It must also comply with the trust deed — distributions must be made to valid beneficiaries as defined in the deed.

In recent years, the ATO has also focused on trust distributions to adult children and associates — particularly 'circular' arrangements and section 100A anti-avoidance provisions. If your trust distributes to beneficiaries who don't actually receive or benefit from the funds, the ATO may re-characterise those distributions.

With seven days to go, TaxSmart Cafe is processing trust resolutions urgently for clients. Contact us immediately if you haven't done this.

20/06/2026

There are now just 10 days left in the financial year. This weekend is your final real opportunity to take action before the June 30 deadline. Here is your EOFY weekend action plan — ten tasks you can complete at home or on your phone in the next two days.

Action 1: Log into myGov and review your income statements — are they accurate? Action 2: Check your super balance and confirm your employer has been paying correctly. Action 3: Calculate how much concessional super cap space you have remaining and make a contribution if beneficial. Action 4: Review your investment portfolio — any losses to crystallise before June 30? Action 5: Check your charitable donation records — have you claimed DGR receipts for everything you've given? Action 6: Photograph and file all remaining receipts that you plan to claim as deductions. Action 7: Business owners: reconcile your books through June 19 and identify any year-end opportunities. Action 8: Review your income protection, health, or other insurance premiums — are they tax-deductible and are you up to date? Action 9: Check your Division 7A compliance if you have a private company. Action 10: Call or email TaxSmart Cafe to book your appointment if you haven't already.

Ten tasks, one weekend. Let's finish this financial year strong.

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.

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.

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.

15/06/2026

Behind every smooth tax season is a hardworking team.

Our team is already preparing for tax time, staying up to date with the latest changes and getting ready to help our clients lodge with confidence.

Tax season is coming—are you ready?

13/06/2026

While June 30 is the end of the financial year, the tax lodgement season officially opens on July 1. Understanding what happens between June 30 and lodgement helps you prepare properly and lodge as early as possible.

After June 30, your employer has until July 14 to finalise your income statement in the ATO's systems. Once finalised and marked 'Tax ready,' you can lodge your return. If you lodge through a registered tax agent (like TaxSmart Cafe), your lodgement deadline is typically extended to May 15 of the following year — giving you much more flexibility than the October 31 deadline for self-lodgers.

For a smooth and fast lodgement, prepare this checklist now: All income statements from employers (via myGov), interest income from banks, dividend statements, managed fund distribution statements, rental property income and expense records, records of assets bought or sold (shares, property, crypto), health insurance statements, receipts for all deductions you plan to claim, and any government payment summaries.

The fastest refunds go to people who lodge early, have complete records, and work with an experienced tax agent. TaxSmart Cafe clients typically lodge in late July and August, when all data is confirmed and returns can be processed quickly. If you're ready to get your refund as quickly as possible, register with TaxSmart Cafe Casey today.

Book: https://taxsmartcafe.com.au/book/casey/

12/06/2026

Eighteen days. That's what's left in the 2025–26 financial year. At TaxSmart Cafe, this is when our phones start ringing off the hook — and we want to help everyone who needs us. But spots are limited and demand is high, so if you've been meaning to book, today is the day.

Here's a prioritised action list based on impact and time sensitivity:

Most urgent (do this week): Super contributions — funds need time to receive and process contributions. Don't leave this to June 29. Division 7A compliance — loan agreements or repayments must be actioned before June 30. Trust distribution resolutions — must be formally documented before June 30.

High priority (do next week): Review and crystallise capital losses to offset this year's gains. Prepay deductible expenses (insurance, subscriptions, investment interest). Write off bad debts in your business.

Moderate priority (do in the final week): Organise all receipts and records for lodgement. Review your super balance and confirm employer contributions are correct. Confirm income from all sources is documented.

The earlier you act, the more options you have. If you wait until June 27 to call us about super contributions, we may not be able to guarantee the funds are processed in time. Call TaxSmart Cafe today — let's build your June 30 action plan.

11/06/2026

Tax refunds aren't luck — they're the result of good planning, thorough record-keeping, and knowing your entitlements. With 19 days left in the financial year, there are still concrete actions you can take to increase your refund or reduce your bill.

Here are the top ways to maximise your refund: Claim all legitimate work-related deductions — this is the biggest opportunity for most employees. Don't just claim what's obvious — think about every expense related to doing your job. Make a personal deductible super contribution — if you have cap space available, this is one of the most powerful moves you can make in the next 19 days. Prepay deductible expenses — if you have investment loans, income protection insurance, or other deductible costs due in the coming months, paying them before June 30 accelerates the deduction into this year. Make tax-deductible charitable donations — give to DGR-registered charities before June 30 and claim the deduction this year. Review your private health insurance status — if you don't have hospital cover and earn over the MLS threshold, getting covered before June 30 saves you the 1–1.5% surcharge.

None of these strategies are loopholes or grey areas — they're legitimate entitlements that millions of Australians are entitled to but don't fully utilise. TaxSmart Cafe Casey can identify which of these apply to your situation and help you act before the deadline.

07/06/2026

The difference between a smooth tax return and a stressful one often comes down to one thing: records. The clients who walk into TaxSmart Cafe with organised, complete records get faster service, more accurate returns, and better outcomes than those who arrive with a shoebox of receipts and a phone full of unclear photos.

This weekend, dedicate an hour to getting your records in order. Here's what to gather: your payment summaries or income statements (available via myGov), interest income statements from your bank, dividend and distribution statements from your investments, receipts for work-related purchases, records of any assets bought or sold, rental property statements and expense receipts, health insurance statements, and records of any government payments received.

Create a simple folder system — either physical or digital. Label each category clearly. If you're a business owner, ensure your accounting records are up to date, your bank accounts are reconciled, and your employee payroll is accurate.

If you've been using the ATO's myDeductions app throughout the year, export your data now and save it. If you haven't been keeping records and there are gaps, don't panic — TaxSmart Cafe can help you reconstruct records using bank statements, employer records, and other sources. But the earlier you start, the better.

Address

Suite 349, Level 2/66 Victor Crescent
Narre Warren, VIC
3805

Telephone

+61390058152

Website

https://taxsmartcafe.com.au/book/casey/

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