https://www.diagnosticaccounting.com.au/

Diagnostic Accounting, Level 45, 680 George Street, Sydney (2026)

27/05/2026

𝗖𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗖𝗹𝗲𝗮𝗻𝗶𝗻𝗴 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀: 𝗬𝗼𝘂𝗿 𝗧𝗣𝗔𝗥 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲 𝗶𝘀 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮𝟴.

If your business paid subcontractors this financial year and you operate in construction, building, cleaning, courier, IT, or security - you're required to lodge a Taxable Payments Annual Report with the ATO.

The TPAR requires you to report the name, ABN, address, and total gross payments made to each contractor during the year. The ATO uses this information to cross-match what contractors declare in their own tax returns - and it's been running this data matching program for years.

A few things worth knowing:

📌 If you failed to lodge in previous years, you can still lodge late - but penalties apply, and the ATO has been increasing its compliance activity in this area

📌 If a contractor you paid doesn't have an ABN, withholding rules apply and need to be documented correctly

📌 "Subcontractors" includes any individual or business you paid for services - not just formal arrangements

📌 The ATO cross-references TPAR data against income tax returns, BAS, and other third-party reporting. Discrepancies get noticed

📌 Many businesses in cleaning and construction have TPAR obligations they don't know about, or have been lodging incorrectly because their records weren't set up to capture the right information throughout the year.

📌 If you're not sure whether you need to lodge, or you want to make sure your records are in order before August 28, give us a call.

0481 557 490 | diagnosticaccounting.com.au

19/05/2026

𝗬𝗼𝘂'𝗿𝗲 𝗣𝗿𝗼𝗯𝗮𝗯𝗹𝘆 𝗔𝗹𝗹𝗼𝘄𝗲𝗱 𝘁𝗼 𝗣𝘂𝘁 𝗠𝗼𝗿𝗲 𝗶𝗻𝘁𝗼 𝗦𝘂𝗽𝗲𝗿 𝗧𝗵𝗮𝗻 𝗬𝗼𝘂 𝗧𝗵𝗶𝗻𝗸 - 𝗕𝘂𝘁 𝗬𝗼𝘂 𝗡𝗲𝗲𝗱 𝘁𝗼 𝗔𝗰𝘁 𝗕𝗲𝗳𝗼𝗿𝗲 𝗝𝘂𝗻𝗲 𝟯𝟬.
The standard concessional contributions cap for 2025-26 is $30,000. That includes everything - employer super guarantee, salary sacrifice, and personal deductible contributions combined.

But if your total super balance was under $500,000 at June 30, 2025, you may be able to contribute significantly more than that by using unused cap amounts from the previous five financial years.

Here's what makes this year different: any unused cap space from the 2020-21 financial year expires permanently on June 30, 2026. Once that date passes, those amounts cannot be carried forward or used in any future year. If you haven't been maximising contributions since 2020, a portion of that available space disappears in less than eight weeks.

Depending on your contribution history, the total you can put in this year - and claim as a tax deduction - could be well above the standard $30,000. Contributions within the cap are taxed at 15% inside super, which for most business owners is considerably lower than their marginal income tax rate.

This applies to employees and business owners alike - not just people running their own super fund.

To check your available carry-forward amount, log into myGov and look under Super, then Information, then Carry-Forward Concessional Contributions.

Then call us to run the numbers before June 30.

0481 557 490 | diagnosticaccounting.com.au

18/05/2026

𝗧𝗿𝗮𝗱𝗶𝗲𝘀: 𝗝𝘂𝗻𝗲 𝟯𝟬 𝗜𝘀 𝗮 𝗛𝗮𝗿𝗱 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲 - 𝗔𝗻𝗱 𝗧𝗵𝗶𝘀 𝗬𝗲𝗮𝗿 𝗜𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 𝗠𝗼𝗿𝗲 𝗧𝗵𝗮𝗻 𝗨𝘀𝘂𝗮𝗹.

For the 2025-26 financial year, the instant asset write-off threshold is $20,000 per asset for businesses with turnover under $10 million. That means if the asset costs less than $20,000 and you use it in your business, you may be able to deduct the full cost this financial year instead of depreciating it over several years.

A few things most tradies don't realise:

✔ The $20,000 limit applies per asset - you can write off multiple purchases in the same year as long as each is under the threshold

✔ The asset must be physically in use by June 30, not just ordered or paid for. If it arrives in July, you miss this year's deduction

✔ Both new and second-hand assets qualify

✔ Assets purchased under a chattel mortgage generally qualify - you don't need to pay cash

✔ From July 1, 2026 the legislated threshold drops to $1,000. This year is likely the last at $20,000

The business portion of the cost is what's deductible, so if you use an asset partly for private purposes, that split matters.

If you're planning a purchase before June 30, it's worth a quick conversation to confirm it qualifies and how to structure it.

Call 0481 557 490 or visit diagnosticaccounting.com.au

08/05/2026

𝗧𝗵𝗲 𝗔𝗧𝗢 𝗗𝗼𝗲𝘀𝗻'𝘁 𝗔𝘂𝗱𝗶𝘁 𝗥𝗮𝗻𝗱𝗼𝗺𝗹𝘆.

Its systems cross-reference your tax return against a wide range of external data - bank records, property registers, share registries, business income reported by platforms, and information reported by other businesses who paid you. Social media is part of that picture too.

The patterns that commonly flag a review:

📌 Lifestyle spending that doesn't match reported income - cars, renovations, travel, and assets are tracked through state registration and financial institution data

📌 Revenue from gig platforms, marketplaces, or short-term rental that appears in third-party data but not in your return

📌 Business expenses that are high relative to your industry benchmark

📌 Large or frequent cash transactions with limited documentation

📌 Subcontractor payment discrepancies between what you reported on your TPAR and what they declared

Most people assume a problem has to be deliberate to attract attention. It doesn't. Inconsistencies - even unintentional ones - can trigger a review. And once a review starts, the burden of proof sits with you.

If you're not sure what your return looks like from the ATO's perspective, that's worth understanding before they come asking.

Call or email us.
0481 557 490 | diagnosticaccounting.com.au

20/04/2026

Most business owners assume that running a Pty Ltd means their personal assets - their home, savings, investments - are safe if something goes wrong.

1️⃣ 𝗕𝗼𝗹𝗱 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝗴𝘂𝗮𝗿𝗮𝗻𝘁𝗲𝗲𝘀 𝗰𝗮𝗻𝗰𝗲𝗹 𝗼𝘂𝘁 𝘆𝗼𝘂𝗿 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲.

When you sign a lease, a bank loan, or a supplier agreement with a personal guarantee, you've stepped outside your company's protection. If the business can't pay, you're personally on the hook - regardless of your structure. Most business owners have signed several without registering the risk.

2️⃣ 𝗧𝗵𝗲 𝗔𝗧𝗢 𝗰𝗮𝗻 𝗰𝗼𝗺𝗲 𝗮𝗳𝘁𝗲𝗿 𝘆𝗼𝘂 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗹𝘆 - 𝗲𝘃𝗲𝗻 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗮 𝗣𝘁𝘆 𝗟𝘁𝗱.

Director Penalty Notices allow the ATO to pursue company directors personally for unpaid super, PAYG withholding, and GST. Your company being a separate legal entity doesn't matter. If those obligations aren't met, you are personally liable.

3️⃣ 𝗧𝗶𝗺𝗶𝗻𝗴 𝗶𝘀 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴 - 𝗮𝗻𝗱 𝗰𝗼𝘂𝗿𝘁𝘀 𝘄𝗮𝘁𝗰𝗵 𝗶𝘁 𝗰𝗹𝗼𝘀𝗲𝗹𝘆.

Asset protection only works if it's set up before problems arise. Transfer your home into a trust or your partner's name after a creditor dispute has started, and a court can reverse the transaction. Protection has to be in place well before trouble appears - not as a response to it.

4️⃣ 𝗬𝗼𝘂𝗿 𝗶𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹 𝘁𝗿𝘂𝘀𝘁𝗲𝗲 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗺𝗮𝘆 𝗯𝗲 𝗰𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗿𝗶𝘀𝗸, 𝗻𝗼𝘁 𝗿𝗲𝗱𝘂𝗰𝗶𝗻𝗴 𝗶𝘁.

If you have a family trust with an individual as trustee rather than a company, that individual's name is on every legal document. If the trust is sued, their personal assets can be exposed. A corporate trustee - a company set up solely to act as trustee - keeps that separation clean. The protection is worth far more than the setup cost.

5️⃣ 𝗦𝘂𝗽𝗲𝗿 𝗶𝘀 𝗼𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁-𝗽𝗿𝗼𝘁𝗲𝗰𝘁𝗲𝗱 𝗮𝘀𝘀𝗲𝘁𝘀 𝗶𝗻 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮.

Superannuation is generally protected from creditors. If your business ever faces serious financial difficulty, money inside your super fund is largely untouchable. Yet most business owners prioritise paying everyone else's super while their own falls years behind.

Asset protection isn't about being pessimistic. It's about making sure the years you've put into your business can't be undone by one bad outcome.

The right time to look at this is before you need it.

𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗗𝗶𝗮𝗴𝗻𝗼𝘀𝘁𝗶𝗰 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴
Sydney’s superior asset protection strategists.

📞 0481 557 490
✉️ [email protected]
🌐 diagnosticaccounting.com.au

10/04/2026

Most business owners who get knocked back by a bank think their revenue wasn't strong enough.

Usually, it's their paperwork.

The most common reasons banks decline:

❌ Books that aren't reconciled or up to date
❌ Personal and business expenses through the same account
❌ BAS lodgements running behind
❌ An unresolved ATO debt
❌ No clear purpose stated for the loan

What the bank is actually checking:

✅ Two years of tax returns, lodged and current
✅ A P&L with consistent revenue and no unexplained gaps
✅ Clean ATO account - no outstanding BAS or PAYG
✅ Bank statements that match your financials exactly
✅ Your personal credit history - yes, even for a business loan

Here's what most people don't know: every formal application goes on your credit file. Get declined by three banks and the fourth one can see it.

The businesses that get approved aren't always the most profitable. They're the most prepared.

The right time to talk to an accountant isn't the week before you apply. It's 3 to 6 months out — when there's still time to fix things.

Call or email us before you approach a bank.

07/04/2026

Most people don't know how much they can put into super before 30 June - and most people don't realise it applies to them at all.

Whether you're a business owner, a sole trader, or a regular employee - if you're paying income tax in Australia, this likely applies to you.

Here's how it works: you can make a personal contribution to your super fund before 30 June and claim every dollar as a tax deduction. Your taxable income drops. Your retirement savings grow. It's one of the most effective legitimate tax strategies available before year end - and most people walk straight past it.

The tricky part is knowing your number.

Your employer's compulsory super payments - now 12% of your earnings - already count toward the annual limit. So does anything salary sacrificed. Your personal top-up room depends on what's gone in this year, what's gone in over previous years, and the size of your super balance. If your super balance is under $500,000, you may also be able to carry forward unused amounts from past years - significantly increasing what you can claim.

Get the calculation wrong in either direction and you either leave money on the table or face a surprise tax bill. This is where an accountant earns their fee.

We pull your contribution history directly from the ATO, calculate your exact top-up room, and give you a precise figure to act on - with enough time to do it properly.

One thing most people miss: your super fund needs to receive the contribution by 30 June - not just have it sent. Allow at least 3-5 business days, so the real deadline is mid-June.

Call or email us now - before the window closes.

09/03/2026

𝗣𝗔𝗬 𝗬𝗢𝗨𝗥𝗦𝗘𝗟𝗙 𝗣𝗥𝗢𝗣𝗘𝗥𝗟𝗬

A lot of owners pay themselves last - not because they want to, but because it’s hard to know what’s actually "safe" to take.

The problem with "whatever’s left" is it creates a cycle:

⚠️You underpay yourself when cash feels tight

⚠️You overdraw when a big bill hits

⚠️GST/tax sneaks up and causes a scramble

⚠️Cash flow stays stressful, even when the business is busy

A simple owner-pay system usually includes:

✅ A consistent pay amount (weekly/fortnightly)

✅ GST/tax set-asides so you’re not caught out

✅ Clarity on what stays in the business for bills and growth

✅ A "safe to take" number you can rely on

This matters even more with irregular income (tradies, agents, project-based work, seasonal businesses). The aim is stability - for you and the business.

📞 Call 0481 557 490
👉 diagnosticaccounting.com.au

06/03/2026

𝗣𝗥𝗢𝗙𝗜𝗧 𝗩𝗦 𝗖𝗔𝗦𝗛 𝗙𝗟𝗢𝗪

This catches a lot of business owners out:

You can look “profitable” on paper and still have no breathing room in the bank account.

Why it happens (in plain terms):

You’ve made sales, but you haven’t been paid yet

GST/tax hasn’t been set aside, so your balance isn’t the real balance

Big bills land before your income does

Loan repayments and purchases affect cash even when profit looks fine

The goal isn’t complicated reporting — it’s a simple view of:
✅ what’s safe to spend
✅ what must be reserved (GST/tax)
✅ what’s coming in and when

Once you’ve got that, decisions get easier — staffing, stock, tools, marketing spend, owner pay… all without guessing.

📞 0481 557 490
🌐 diagnosticaccounting.com.au

01/03/2026

𝗕𝗔𝗦 𝗗𝗨𝗘? 𝗦𝗢𝗥𝗧𝗘𝗗.

BAS stress usually isn’t the BAS itself — it’s what the BAS reveals when the bookkeeping hasn’t been kept tidy.

Common causes of headaches:

GST collected gets spent because it wasn’t separated

PAYG instalments/withholding aren’t expected until the last minute

Expenses aren’t coded consistently (especially mixed-use items)

Sales/invoices and cash timing don’t match, so you feel squeezed

What “sorted” should actually mean:
✅ BAS lodged on time
✅ figures are accurate (so you’re not fixing it later)
✅ you understand what’s driving GST/PAYG and how it affects cash flow
✅ you know what needs to be put aside so you’re not caught short

If BAS is due and you want it handled properly (and explained clearly), we can help.

📞 0481 557 490
🌐 diagnosticaccounting.com.au

Diagnostic Accounting

27/05/2026

19/05/2026

18/05/2026

08/05/2026

20/04/2026

10/04/2026

07/04/2026

09/03/2026

06/03/2026

01/03/2026

Address

Website

Alerts

Contact The Business

Shortcuts

Share

Category