ABC Insight - Business Advisory & Taxation

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ABC Insight - Business Advisory & Taxation

ABC Insight provides a specialised advice on tax and business structure for small to medium businesses. We provide service on preparation of tax returns.

09/05/2026

💐 To the women who love endlessly, give selflessly, and support unconditionally — Happy Mother’s Day ❤️

Today we celebrate all the incredible mums and mother figures who make life so special 🌸✨

24/04/2026

💡 Instant Asset Write-Off Update

The ATO is reminding eligible businesses about the Instant Asset Write-Off (IAWO) — a great opportunity to reduce your tax 💰

✅ Who qualifies:
Small businesses with aggregated turnover under $10 million

💸 Deduction benefit:
Instantly write off assets under $20,000 (business-use portion)

📅 Timing requirement:
Assets must be installed or ready for use between 1 July 2025 – 30 June 2026

🔢 Per asset rule:
The $20,000 limit applies per asset, not per business

🔄 Second-hand assets:
Eligible (subject to some exclusions)

🔧 Improvements:
First improvement costs can also be written off if under $20,000 and within the same period

📊 Assets over $20,000:
Added to depreciation pool:
• 15% deduction in year 1
• 30% in following years

**The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained

17/04/2026

What is Transition to Retirement (TTR) Pension?🤔

A Transition to Retirement (TTR) pension allows individuals who have reached their preservation age (55–60 depending on DOB) to access part of their super while still working, with withdrawals limited to 4–10% per year.
-Birth Date Thresholds:
o Before 1 July 1960: 55 years
o 1 July 1960 – 30 June 1961: 56 years
o 1 July 1961 – 30 June 1962: 57 years
o 1 July 1962 – 30 June 1963: 58 years
o 1 July 1963 – 30 June 1964: 59 years
o After 30 June 1964: 60 years
If you are under preservation age, super is generally inaccessible except in limited circumstances. If you reach preservation age and fully retire before 60, you can start a pension, but payments remain taxable (with a 15% offset) until age 60.

Tax treatment depends on age and pension phase:
-Under 60: Pension payments are taxed at marginal rates with a 15% tax offset.
-60+: Pension withdrawals are generally tax-free (from taxed funds).

However, a key distinction is:
-TTR (not in retirement phase): Super fund earnings are still taxed at 15%.
-Retirement phase (after meeting a full condition of release): Fund earnings become tax-free (0%), significantly improving tax efficiency.

A common strategy is combining TTR with salary sacrifice to reduce personal tax while maintaining cash flow, though benefits are strongest for higher-income earners.

In summary, TTR pensions provide flexibility and tax planning opportunities, but the real tax advantages occur once the pension moves into retirement phase, where both withdrawals and fund earnings can be tax-free.

*The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.

14/04/2026

Happy Puthandu Vazthukal from ABC Insight🌸
May your days be peaceful 🕊️, your efforts rewarding 💫, and your year truly fulfilling 🌼

04/04/2026

Happy Easter from ABC Insight!🐣

Wishing you a wonderful Easter filled with joy, renewal, and new opportunities. May the season bring happiness and continued success to you and your family.

18/02/2026

Capital Gain Discount Reduction 📉🏡

Currently, capital gain discount at 50% of gross capital gain on sale of property held after one year applies to individual and trust. It’s 33.33% for self-managed super fund (SMSF) 🏦.

There is a proposal to reduce the discount to 25% for individual and trust.

This is not legislated yet. But there is a proposal in May 2026 budget. If this is implemented, for some time, the property market will slowdown.

For the clearer overview of how Treasurer Jim Chalmers’ proposed changes to the capital gains tax (CGT) discount could affect property investors and superannuation — focusing on practical impacts rather than just policy talk, please refer to the following links 🔗:
• https://www.accountingtimes.com.au/tax/labor-reportedly-considering-changes-to-cgt-discount-ahead-of-budget
• https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Operation_of_the_Capital_Gains_Tax_Discount

Please note the law is not paused, more clarity will be disclosed after budget night. Will it pass the senate? Would business and property ownership council will allow this to happen?

**𝘛𝘩𝘦 𝘮𝘢𝘵𝘦𝘳𝘪𝘢𝘭 𝘢𝘯𝘥 𝘤𝘰𝘯𝘵𝘦𝘯𝘵𝘴 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘥 𝘪𝘯 𝘵𝘩𝘪𝘴 𝘱𝘶𝘣𝘭𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘢𝘳𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘷𝘦 𝘪𝘯 𝘯𝘢𝘵𝘶𝘳𝘦 𝘰𝘯𝘭𝘺. 𝘐𝘵 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘵𝘦𝘯𝘥𝘦𝘥 𝘵𝘰 𝘣𝘦 𝘢𝘥𝘷𝘪𝘤𝘦 𝘢𝘯𝘥 𝘺𝘰𝘶 𝘴𝘩𝘰𝘶𝘭𝘥 𝘯𝘰𝘵 𝘢𝘤𝘵 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤𝘢𝘭𝘭𝘺 𝘰𝘯 𝘵𝘩𝘦 𝘣𝘢𝘴𝘪𝘴 𝘰𝘧 𝘵𝘩𝘪𝘴 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘢𝘭𝘰𝘯𝘦. 𝘐𝘧 𝘦𝘹𝘱𝘦𝘳𝘵 𝘢𝘴𝘴𝘪𝘴𝘵𝘢𝘯𝘤𝘦 𝘪𝘴 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘥, 𝘱𝘳𝘰𝘧𝘦𝘴𝘴𝘪𝘰𝘯𝘢𝘭 𝘢𝘥𝘷𝘪𝘤𝘦 𝘴𝘩𝘰𝘶𝘭𝘥 𝘣𝘦 𝘰𝘣𝘵𝘢𝘪𝘯𝘦𝘥.

15/01/2026

🌾 Happy Pongal 🌞
Grateful for harvests, blessings, and new opportunities.
Wishing everyone prosperity, peace, and progress ✨

31/12/2025

Welcoming 2026 with appreciation for the year that was and enthusiasm for what’s ahead.
Wishing you a successful and fulfilling year.

✨

24/12/2025

Merry Christmas! 🎄🎁
May your holidays be bright, your home be happy, and the new year bring exciting new opportunities.

19/12/2025

𝐊𝐞𝐲 𝐏𝐞𝐫𝐬𝐨𝐧 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞
Have you considered how your business would be financially impacted if a key person died unexpectedly, became totally and permanently disabled or suffered a critical illness? Please read further if you are interested.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐊𝐞𝐲 𝐏𝐞𝐫𝐬𝐨𝐧 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞?
Key Person Insurance protects a business from the financial impact caused by the unexpected loss of a key individual due to death, total and permanent disablement (TPD), or critical illness such as a heart attack, stroke, or cancer.
It typically includes Life Insurance, Trauma Insurance, and TPD Insurance.

𝐖𝐡𝐨 𝐢𝐬 𝐚 𝐊𝐞𝐲 𝐏𝐞𝐫𝐬𝐨𝐧?
A key person is anyone in your business, whose skills, experience, leadership, are essential to the business’s success such as business owner or key employees.

𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬?
1. Revenue Protection - Sales
2. Debt Protection – repay loans, business liabilities etc.
3. Equity and Ownership Protection – Business continuity

In essence, Key Person Insurance safeguards a business against the financial risks associated with the loss of an individual whose contribution is critical to its operation, profitability, and continuity.

To know more about the tax treatment, please see the attached link for the document *this link is safe, redirecting to the pdf file of this content.
https://acrobat.adobe.com/id/urn:aaid:sc:ap:6301aef6-57f5-475b-8d10-fc6852bf638e

*𝘛𝘩𝘦 𝘮𝘢𝘵𝘦𝘳𝘪𝘢𝘭 𝘢𝘯𝘥 𝘤𝘰𝘯𝘵𝘦𝘯𝘵𝘴 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘥 𝘪𝘯 𝘵𝘩𝘪𝘴 𝘱𝘶𝘣𝘭𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘢𝘳𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘷𝘦 𝘪𝘯 𝘯𝘢𝘵𝘶𝘳𝘦 𝘰𝘯𝘭𝘺. 𝘐𝘵 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘵𝘦𝘯𝘥𝘦𝘥 𝘵𝘰 𝘣𝘦 𝘢𝘥𝘷𝘪𝘤𝘦 𝘢𝘯𝘥 𝘺𝘰𝘶 𝘴𝘩𝘰𝘶𝘭𝘥 𝘯𝘰𝘵 𝘢𝘤𝘵 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤𝘢𝘭𝘭𝘺 𝘰𝘯 𝘵𝘩𝘦 𝘣𝘢𝘴𝘪𝘴 𝘰𝘧 𝘵𝘩𝘪𝘴 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘢𝘭𝘰𝘯𝘦. 𝘐𝘧 𝘦𝘹𝘱𝘦𝘳𝘵 𝘢𝘴𝘴𝘪𝘴𝘵𝘢𝘯𝘤𝘦 𝘪𝘴 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘥, 𝘱𝘳𝘰𝘧𝘦𝘴𝘴𝘪𝘰𝘯𝘢𝘭 𝘢𝘥𝘷𝘪𝘤𝘦 𝘴𝘩𝘰𝘶𝘭𝘥 𝘣𝘦 𝘰𝘣𝘵𝘢𝘪𝘯𝘦𝘥.

Address

Suite 341, Waterman Eastland, C307, Level 3, Eastland Shopping Centre, 175 Maroondah Highway
Ringwood, VIC
3134

Telephone

+61457638361

Website

http://www.abcinsight.com.au/

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