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Taxwise Australia

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Taxwise Australia

Helping you pay less tax! We have an ongoing commitment to deliver a personalised and flexible service that allows us to save you time & money.

When Taxwise Tax Accountants prepare your tax returns this year, you will benefit from our extensive tax knowledge after our 42 years as Perth’s most experienced professional specialists in MOBILE tax returns. We meet with you at your home or place of business so we can better understand your lifestyle and specific business & tax needs. This ensures you don’t miss out on any opportunities to maxim

ise your tax savings. Because we come to you, we’re also ensuring your personal & confidential records remain secure. Taxwise Tax Accountants will also be there for you all year round not only to assist with your tax preparation, but to guide you through your tax planning and ongoing tax affairs when you and your business need it most. Visit our website (www.taxwiseaustralia.com.au) to find out more or give us a call on (08) 9248 8124 to discuss your situation and obtain your obligation FREE quote for our services. And remember - all our fee's are 100% Tax Deductible, so the ATO is subsidising the entire costs for us to manage your Tax Affairs!

19/06/2026

🗓️ 𝗧𝗮𝘅 𝗧𝗶𝗺𝗲 𝗶𝘀 𝗔𝗹𝗺𝗼𝘀𝘁 𝗛𝗲𝗿𝗲! 🗓️

The 2025/2026 financial year ends on 30th June 2026, which means tax season officially begins from 1st July 2026!

Now is the perfect time to start getting organised so lodging your tax return is quick and stress-free.

Here are a few things you can do now:
• Gather your receipts and records
• Check your bank details and personal information are up to date
• Review any work-related expenses
• Keep track of investment, rental property, or crypto records
• Make sure your employer has finalised your income statement

Book in early to avoid delays with your return as appointments are already filling up!
💬 Send us a message!
📞 Call us: (08) 9248 8124
💻 Book a callback: https://www.taxwiseaustralia.com.au/bookings/

16/06/2026

📝 𝗪𝗵𝗮𝘁 𝘆𝗼𝘂 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗙𝗲𝗱𝗲𝗿𝗮𝗹 𝗕𝘂𝗱𝗴𝗲𝘁 - 𝗗𝗶𝘀𝗰𝗿𝗲𝘁𝗶𝗼𝗻𝗮𝗿𝘆 𝗧𝗿𝘂𝘀𝘁 𝗥𝗲𝗳𝗼𝗿𝗺𝘀 & 𝗡𝗲𝘄 𝗠𝗶𝗻𝗶𝗺𝘂𝗺 𝗧𝗮𝘅 𝗥𝗲𝗴𝗶𝗺𝗲 📝

The Federal Government has announced major proposed changes to the taxation of discretionary trusts — some of the biggest trust tax reforms seen in decades.

Here’s what business owners and trustees need to know:

✔️ From 1 July 2028, discretionary trusts may be subject to a new 30% minimum tax payable by the trustee.

✔️ Individual beneficiaries receiving trust distributions will receive non-refundable tax credits for tax already paid by the trust.

✔️ Corporate beneficiaries (“bucket companies”) will no longer have access to trustee-paid tax credits on distributed trust income.

✔️ Franking credits attached to dividends received by trusts must first be applied against the new minimum trust tax liability.

✔️ Certain entities will be exempt, including:
• Primary production income
• Fixed and widely held trusts
• Superannuation funds
• Charitable trusts
• Deceased estates

✔️ To assist with restructuring, expanded rollover relief and CGT concessions will be available for eligible businesses moving from discretionary trusts into companies or fixed trusts from 1 July 2027 for a three-year period.

These proposed changes could have significant implications for existing trust structures and tax planning strategies.

If you operate through a discretionary trust, now is the time to start reviewing your structure and planning ahead.
💬 Send us a message!
📞 Call us: (08) 9248 8124
💻 Book a callback: https://www.taxwiseaustralia.com.au/bookings/

12/06/2026

📣 𝗕𝗔𝗦 𝗥𝗲𝗺𝗶𝗻𝗱𝗲𝗿! 📣

If your business lodges monthly, your May 2026 BAS is due on 𝗦𝘂𝗻𝗱𝗮𝘆 𝟮𝟭𝘀𝘁 𝗝𝘂𝗻𝗲 𝟮𝟬𝟮𝟲⏰

✅ Lodge on time
✅ Pay what’s owing
✅ Avoid ATO penalties

Don’t leave it to the last minute. We can help make it stress-free!

📞 Call us: (08) 9248 8124
💻 Book a callback: https://www.taxwiseaustralia.com.au/bookings/

09/06/2026

⚠️ 𝗣𝗮𝘆𝗶𝗻𝗴 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 𝗙𝗲𝗲𝘀? 𝗗𝗼𝗻’𝘁 𝗳𝗼𝗿𝗴𝗲𝘁 𝘁𝗵𝗲 𝘀𝘂𝗽𝗲𝗿 𝗼𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀. ⚠️

Many business owners are surprised to learn that directors fees are generally treated as “salary and wages” for super purposes. That means companies must also pay the 12% Super Guarantee on those payments.

From 1 July 2026, Payday Super rules will also apply to directors fees, meaning super will need to be paid at the same time as wages.

Here’s why this matters:

✅ Directors fees may attract compulsory super
✅ Super payments will need to follow the new Payday Super timeline
✅ The ATO is increasing enforcement of Director Penalty Notices (DPNs)
✅ Unpaid super can potentially become a personal liability for directors

Our recommendation: Process directors fees through payroll rather than as lump-sum drawings to help maintain compliance and avoid unnecessary tax issues.

05/06/2026

💼 𝗕𝗶𝗴 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗮𝗿𝗲 𝗰𝗼𝗺𝗶𝗻𝗴 𝘁𝗼 𝘀𝘂𝗽𝗲𝗿 𝗳𝗿𝗼𝗺 𝟭 𝗝𝘂𝗹𝘆 𝟮𝟬𝟮𝟲! 💼

The way employers pay super is changing, with the move to “Payday Super” officially beginning next financial year.

Here’s what businesses need to know:

✅ Super must be paid at the same time as wages
✅ Contributions must reach employees’ super funds within 7 business days
✅ Cash flow planning will become more important with more frequent super payments
✅ The ATO’s Small Business Superannuation Clearing House (SBSCH) will close on 30 June 2026

If you’re still using SBSCH, now is the time to transition to compliant payroll software and prepare your systems before the deadline.

01/06/2026

💙 𝗛𝗮𝗽𝗽𝘆 𝗪𝗔 𝗗𝗮𝘆! 💙

Today we celebrate everything that makes Western Australia special: our incredible communities, beautiful landscapes, hardworking locals, and the unique spirit that makes WA home.

Whether you’re spending the long weekend relaxing with family, exploring our amazing state, or enjoying a well-earned break, we hope you have a safe and happy WA Day.

From all of us at Taxwise, thank you for being part of our WA community. 🌿☀️

29/05/2026

🎆 𝗪𝗔 𝗗𝗮𝘆 𝗛𝗼𝗹𝗶𝗱𝗮𝘆 𝗡𝗼𝘁𝗶𝗰𝗲 🎆

Taxwise will be closed on Monday 1st June for WA Day.

We’ll be back to help with all things tax from Tuesday 2nd June.

We hope you have a safe and relaxing long weekend and enjoy celebrating everything that makes Western Australia special!

26/05/2026

📝 𝗪𝗵𝗮𝘁 𝘆𝗼𝘂 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗙𝗲𝗱𝗲𝗿𝗮𝗹 𝗕𝘂𝗱𝗴𝗲𝘁 - 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗚𝗮𝗶𝗻𝘀 𝗧𝗮𝘅 (𝗖𝗚𝗧) 𝗮𝗻𝗱 𝗡𝗲𝗴𝗮𝘁𝗶𝘃𝗲 𝗚𝗲𝗮𝗿𝗶𝗻𝗴 𝗥𝗲𝗳𝗼𝗿𝗺𝘀 📝

The 2026–27 Federal Budget introduces significant changes to investment taxation that may impact existing and future investment strategies for individuals, trusts, and partnerships.

🔹 Capital Gains Tax (CGT) Changes – Effective 1 July 2027

The current 50% CGT discount will be abolished and replaced with cost base indexation linked to CPI.

In addition, a minimum 30% tax rate will apply to realised capital gains.

These reforms will apply to CGT assets held for at least 12 months, including:

• Investment properties
• Shares
• Managed investments
• Other capital assets

Importantly, the following concessions remain unchanged:

• Main residence exemption
• Small business CGT concessions

🔹 Transitional Arrangements

For assets acquired before 1 July 2027 and sold after that date:

• The existing 50% CGT discount will still apply to gains accrued up to 1 July 2027
• Transitional asset values can be determined using ATO-approved valuation methods or prescribed formulas

🔹 Negative Gearing Changes

From 1 July 2027, negative gearing deductions will be limited to newly constructed residential properties only.

Properties held at 7:30pm AEST on 12 May 2026 will retain current negative gearing treatment until disposal under grandfathering provisions.

For established residential properties acquired after 12 May 2026:

• Rental losses can only offset other residential investment income
• Excess losses must be carried forward to future property income years

Commercial property, shares, and other investment assets remain unaffected.

If you would like to discuss how these changes may affect you, please contact our team.
💬 Send us a message!
📞 Call us: (08) 9248 8124
💻 Book a callback: https://www.taxwiseaustralia.com.au/bookings/

22/05/2026

📢 𝗔𝗧𝗢 𝗥𝗲𝗺𝗶𝗻𝗱𝗲𝗿: 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗠𝘂𝘀𝘁 𝗕𝗲 𝗥𝗲𝗽𝗼𝗿𝘁𝗲𝗱 📢

If you receive government payments for delivering services under a Commonwealth program — such as healthcare, disability support, aged care, or child care — it’s important to make sure your tax obligations are up to date.

The ATO is reminding taxpayers that these payments must be:

✔️ Properly recorded
✔️ Correctly reported in your tax return

The ATO has also advised that it is contacting taxpayers and tax agents to ensure income received from programs like the Aged Care Subsidy and the National Disability Insurance Scheme (NDIS) is being reported accurately.

With updated data-matching systems now in place, the ATO is increasing its focus on identifying missing or incorrectly reported income.

If you’re unsure whether certain payments need to be included in your tax return, it’s always best to check before lodgement.
💬 Send us a message!
📞 Call us: (08) 9248 8124
💻 Book a callback: https://www.taxwiseaustralia.com.au/bookings/

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Perth, WA
6090

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