Key Tax Solutions

Key Tax Solutions At Key Tax Solutions we pride ourselves on knowing all our clients personally

As we near the end of the 2026 financial year, we would like to highlight several important taxation and superannuation ...
09/06/2026

As we near the end of the 2026 financial year, we would like to highlight several important taxation and superannuation changes relevant for the 2027 financial year:

• The lowest marginal tax rate will reduce from 16% to 15%, providing a modest tax saving for individual taxpayers.

• The Superannuation Concessional Contributions Cap will increase to $32,500 for the 2027 financial year.

• The Superannuation Non-Concessional Contributions Cap will increase to $130,000, with the maximum 3-year bring-forward contribution increasing to $390,000.

• The HELP repayment threshold remains at approximately $67,000. Once taxable income exceeds this level, compulsory HELP repayments apply at progressive rates, increasing further for higher income earners above approximately $125,000.

PLEASE NOTE: Importantly, the proposed $1,000 standard work-related deduction is not expected to commence until the 2027 financial year. Accordingly, this deduction will not apply to 2026 income tax returns lodged after 30 June 2026.

Ana is our reliable and dedicated office coordinator, manager and bookkeeper, who always keeps the office running smooth...
02/06/2026

Ana is our reliable and dedicated office coordinator, manager and bookkeeper, who always keeps the office running smoothly. Having been with us from the very start, Ana knows everything about Key Tax Solutions, and takes meticulous care of our administration and bookkeeping tasks, while also supporting her clients to improve their own internal financial administration systems.

With a background in marketing and mortgage finance, Ana’s people skills and commitment to customer service drive her passion to see her clients succeed. But it’s her supportive, professional and empathetic nature which set the standard of service that our clients know us for.

When she’s not at work, Ana spends her time with her two adult children and her gorgeous 12-year-old black Cavoodle. She also enjoys challenging herself to try new things, having completed the gruelling Tough Mudder course back in 2013.

With Ana’s dedication to providing an excellent client experience, you know you’re in great hands with Key Tax Solutions.

28/05/2026

📣 BNI Quantum Feature Presentation Alert

We’re excited to welcome John Reilly, Accountant, Registered Tax Agent, and Director of Key Tax Solutions, as our upcoming feature presenter at BNI Quantum.

💡 Topic: Executor Responsibilities and Taxation Issues in Deceased Estates
📍 Location: St George Motorboat Club, Sans Souci
📅 Date: Wednesday, 3 June 2026
⏰ Time: 6.45am to 8.30am

With more than 22 years of experience running his own accounting practice, John has built a strong reputation for providing honest, practical, and trusted advice to individuals, families, and small businesses.

At Key Tax Solutions, John and his team pride themselves on operating with integrity, professionalism, and transparency, believing that trust is the foundation of every strong client relationship.

In this week’s session, John will share valuable insights into the responsibilities of an executor of a deceased estate, with a focus on the taxation matters that arise following the passing of a loved one. The presentation will cover outstanding tax returns, deceased estate tax obligations, capital gains tax considerations, superannuation death benefits, and ongoing estate administration responsibilities.

BNI members and guests, this is a valuable opportunity to hear practical guidance on an important topic that many individuals and families may face at some point in life.

Join us this Wednesday morning and experience the value of connection, education, and referral based business networking at BNI Quantum.

👉 Learn more and register: https://www.eventbrite.com.au/e/bni-quantum-networking-tickets-381406295497?

Just like the Federal Government, every business should have a budget for the next financial year. Have you worked on pr...
26/05/2026

Just like the Federal Government, every business should have a budget for the next financial year. Have you worked on preparing your budget? I often hear people expressing their distaste for budgets, some people even view them as a restriction of their activity when really it’s the opposite. It should be the goal to drive your activity!

A budget is a plan - how long do you spend planning for your next holiday? Many hours probably. A plan for your business should be worked on to help pay for your next holiday. A budget should be about 50% achievable. If it’s too easy you will not have enough pressure on yourself to achieve. If it’s too hard you are likely to get discouraged and give up on your plan and lose focus.

Don’t know where to start? If you have been in business for over a year, have a look at your performance in the last 12 months. Review areas where you can improve. How much extra income can you earn with your current resources? What if you add resources, how much more can you earn? It doesn’t have to be perfect, it just needs to be done. Reach out if you need help creating a budget which will help you achieve your goals.

This has to be one of the worst experiences I have had in my 30 years as an accountant. We were approached by a sizable ...
19/05/2026

This has to be one of the worst experiences I have had in my 30 years as an accountant. We were approached by a sizable trade-based business a few years ago to help with their accounting and taxation needs. We were only involved for a short time as we started asking too many questions for their liking.

It was a business with three partners, let’s call them Huey, Dewey and Louie. We mainly dealt with one of the partners, Huey. He appeared to be controlling the money and overseeing the overall operations of the business. The other two partners, Dewey and Louie, were focused on their own areas of specialty and relied on Huey to manage the financial side of the business.

Dewey and Louie had contributed large sums of personal money to the business, while Huey had not.

Once we had visibility over the figures, the company’s solvency issues became very clear. Staff had not been paid superannuation for more than two years, and small contractors and suppliers were owed money. On top of all this, there were large amounts of suspicious withdrawals - that is, director drawings - made by Huey.

We raised our concerns with Dewey and Louie; however, they did not pay attention to our communications. As we began asking more questions of Huey, he terminated our services and lied to his partners, stating it was our decision to end the relationship.

We found the situation extremely stressful because we knew what was happening - staff were being ripped off, suppliers were not being paid, and the ATO was receiving nothing. Yet we could not do anything about it.

If you are in a partnership, transparency is essential. We treat our relationship with our clients as a partnership with clear communication and trust.

It’s planning time! You need to take action before 30 June to possibly reduce your tax bill for the 2026 financial year....
12/05/2026

It’s planning time! You need to take action before 30 June to possibly reduce your tax bill for the 2026 financial year.
If you haven’t heard from your accountant about tax planning, give them a nudge.

A couple of things to consider:
▪️ Pay your employees superannuation before 30 June.
▪️ Consider bringing expenses forward and pre-paying them.
▪️ Review new equipment you may need and buy it prior to 30 June. Note to keep it under $20k.
▪️ Can you delay income until the next financial year?
▪️ Are you feeling charitable, make some extra donations.
▪️ Make additional superannuation contributions for yourself.

It’s best to review your overall situation and not make a decision on one deduction in isolation.

Trust is built over time, and this kind of feedback means a great deal to our team.We are grateful to have supported Jan...
05/05/2026

Trust is built over time, and this kind of feedback means a great deal to our team.

We are grateful to have supported Janelle since 2007 and truly appreciate her kind words about our service and team.

Consistency, clear communication, and a reliable approach are what we aim to deliver every day, so it is always encouraging to hear this reflected in a client’s experience.

Thank you, Janelle, for your ongoing trust and support.

One of the biggest advantages I see in well-run businesses has very little to do with turnover.It comes down to three si...
28/04/2026

One of the biggest advantages I see in well-run businesses has very little to do with turnover.

It comes down to three simple habits:

▪️ They respond to their accountant quickly, even if it is just a short reply
▪️ They send through information requested early, not once it is already urgent
▪️ They act on advice while it is still relevant, not months later

None of this is complex. That is exactly why it is often overlooked.

These small actions create a real advantage. You get clearer advice, better timing on decisions, and far fewer surprises throughout the year.

From my side, it means I can be proactive rather than reactive. From your side, it means you stay in control of your numbers instead of catching up with them.

𝐏𝐚𝐲𝐝𝐚𝐲 𝐬𝐮𝐩𝐞𝐫 𝐢𝐬 𝐡𝐞𝐫𝐞From 𝟏 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟔, employers will be required to pay Superannuation Guarantee at the same time as wag...
21/04/2026

𝐏𝐚𝐲𝐝𝐚𝐲 𝐬𝐮𝐩𝐞𝐫 𝐢𝐬 𝐡𝐞𝐫𝐞

From 𝟏 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟔, employers will be required to pay Superannuation Guarantee at the same time as wages, replacing the current quarterly system.

• The ATO Small Business super clearing house will not be available from 1 July 2026.

• Payroll systems need to be able to process super with every pay run.

• Funds need to be received in your employee’s super fund within 7 business days of wages being paid.

• Increased compliance and reporting obligations mean payroll teams, bookkeepers, and accountants must ensure accurate and timely processing.

It’s important for businesses to start considering how these changes will impact payroll processes and more importantly cash flow planning.

We have a few ideas which may help, contact us for more info.

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Padstow, NSW
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