Nanak Accountants & Associates

Nanak Accountants & Associates Tax Strategist. Business Advisor. Media Voice.

From migrant roots to advising 10,000+ clients Australia-wide

🎙️ Featured on Accountants Daily, Accounting Times, Brokers Daily, SBS Punjabi, Smart Company, SBS Hindi, SPI

https://linktr.ee/nanakaccountant

EOFY has a way of exposing the small bookkeeping mistakes that get ignored all year.For Australian business owners, thes...
19/06/2026

EOFY has a way of exposing the small bookkeeping mistakes that get ignored all year.

For Australian business owners, these errors can mean missed deductions, ATO issues, super penalties, and unnecessary cash flow stress.

In this carousel, we cover common EOFY mistakes to check before 30 June:

✓ Keep personal and business expenses separate
✓ Reconcile super and check the current SG rate
✓ Review GST coding before BAS lodgement
✓ Check eligible asset purchases before EOFY
✓ Review PAYG instalments if your profit has changed

Tax time does not need to feel rushed or reactive. A little planning now can save a lot of stress later.

What is your biggest EOFY challenge this year?

Share this with a fellow business owner who needs a reminder.

Need help getting tax-ready? Book a free 15-minute strategy session with our team.

Our latest article on the Seniors and Pensioners Tax Offset, also known as SAPTO, has now been published as an official ...
18/06/2026

Our latest article on the Seniors and Pensioners Tax Offset, also known as SAPTO, has now been published as an official press release, helping Australian seniors, retirees and pensioners better understand how the offset may reduce tax payable in retirement.

Featuring insights from Puneet Singh of Nanak Accountants & Associates, the release explains that SAPTO is a non-refundable tax offset and that eligibility is not based on age alone.

It covers:

• What SAPTO is and how it works
• Who may be eligible for the seniors tax offset
• Why income, residency and relationship status matter
• How rebate income is calculated
• How SAPTO thresholds may reduce as income rises
• How SAPTO interacts with Medicare levy and other offsets
• Why some retirees may still need to lodge a tax return
• Common mistakes involving bank interest, dividends, superannuation income, rental income and investment losses

Many retirees assume they either automatically qualify for SAPTO or cannot qualify because they are self-funded. However, eligibility depends on the ATO’s rules, income thresholds and personal circumstances, so retirees should review their position before lodging.

Read the full press release here:
https://www.prlog.org/13152947-senior-tax-offset-guide-for-australian-retirees-in-2026.html

Common GST errors can cost small businesses time, money, and unnecessary ATO stress. Mistakes such as claiming GST on no...
17/06/2026

Common GST errors can cost small businesses time, money, and unnecessary ATO stress. Mistakes such as claiming GST on non-creditable purchases, missing tax invoices, lodging BAS late, using the wrong GST codes, or forgetting to reconcile accounts can quickly affect your cash flow and compliance.

Our Australian accounting team helps small businesses with BAS/GST lodgement, bookkeeping, GST registration, payroll, financial reporting, tax planning, and tax audit assistance. We make sure your records are accurate, your BAS is lodged on time, and your business stays ATO-compliant.

Need help avoiding costly GST mistakes? Contact us today for reliable GST and bookkeeping support.

Our latest article on the Bendel High Court decision and its impact on Division 7A UPEs has now been published as an off...
12/06/2026

Our latest article on the Bendel High Court decision and its impact on Division 7A UPEs has now been published as an official press release, helping Australian trustees, family groups, bucket companies and advisers better understand what has changed after the landmark decision.

Featuring insights from Puneet Singh of Nanak Accountants & Associates, the release explains why a trust’s unpaid present entitlement to a corporate beneficiary is not automatically treated as a Division 7A loan under section 109D(3).

It covers:
• What the High Court decided in Bendel
• Why UPEs are not automatically Division 7A loans
• What this means for family trusts and bucket companies
• How Division 7A planning changes after Bendel
• Why Subdivision EA, section 100A and Part IVA still matter
• Whether old Division 7A UPE arrangements should be reviewed
• Practical 30 June review points for trustees and accountants
• Common risks where trust funds are used by shareholders or associates

Many trustees may assume Bendel removes all Division 7A risk, but the decision only closes one specific ATO argument. Proper trust resolutions, beneficiary accounts, cash tracing, and commercial documentation remain essential to manage tax risk and avoid costly mistakes.

Read the full press release here:
https://www.prlog.org/13151750-bendel-case-explained-division-7a-upes-and-trust-distributions.html

Great service, happy clients ⭐⭐⭐⭐⭐We’re grateful to receive such positive feedback from clients who trust Nanak Accounta...
11/06/2026

Great service, happy clients ⭐⭐⭐⭐⭐

We’re grateful to receive such positive feedback from clients who trust Nanak Accountants & Associates with their tax and accounting needs.

Our goal is to make every experience simple, clear, and stress-free by providing reliable guidance, professional support, and careful attention at every step.

Thank you to our clients for your continued trust and appreciation. Your feedback motivates us to keep delivering the quality service you deserve.

Need help with your tax return or accounting matters?
Visit us today: www.nanakaccountants.com.au

11/06/2026

If I lodge my tax return for the first time, I’ll get a full tax refund.

Credit: SBS Hindi

❌ FALSE!

Lodging your tax return for the first time does NOT guarantee a full refund.

Your tax refund depends on factors such as:
✅ How much tax was withheld from your income
✅ Your eligible deductions
✅ Tax offsets and credits
✅ Your overall tax situation

Whether it’s your first tax return or your tenth, the refund amount is calculated based on your individual circumstances.

Don’t let tax myths cost you money. Get the facts before you lodge!

Have a tax question? Leave it in the comments 👇

Do you need to register for PAYG withholding? If your Australian business pays employees, directors, contractors under v...
10/06/2026

Do you need to register for PAYG withholding? If your Australian business pays employees, directors, contractors under voluntary agreements, or other workers where tax must be withheld, PAYG withholding registration may be required. Staying compliant helps you avoid ATO penalties and keeps your payroll, BAS/GST lodgement, bookkeeping, and tax reporting on track.

Our experienced accountants can help you understand your PAYG obligations, register correctly, manage payroll records, and prepare accurate BAS and business tax returns. We also support businesses with GST registration, cash flow management, tax planning, and financial reporting.

Need help with PAYG withholding or payroll compliance? Contact us today for reliable accounting and tax support.

Tax season can get stressful fast.For many Australian business owners, the real problem is not tax itself. It is leaving...
09/06/2026

Tax season can get stressful fast.

For many Australian business owners, the real problem is not tax itself. It is leaving everything until the last minute.

Before July starts, take a few simple steps to get your business EOFY-ready:

✓ Clean up your records before the ATO asks questions
✓ Check your super settings, the SG rate is now 12%
✓ Review eligible deductions, including the $20,000 instant asset write-off
✓ Check BAS, PAYG, wages and ATO payments before cash flow gets tight
✓ Create a simple 90-day cash flow forecast

Good tax planning is not about panic spending.

It is about better records, smarter decisions and fewer surprises.

Swipe through the carousel for practical steps you can take before the July rush.

What is your biggest tax-time challenge right now?

Share this with a fellow business owner who needs to get EOFY-ready.

Need help getting tax-ready? Book a free 15-minute strategy session with our team.

08/06/2026

Throwback to my interview on SBS Hindi. Credit: for the original recording.

Wishing everyone a happy King’s Birthday! May this day bring warmth, joy, and well-deserved time to celebrate with loved...
08/06/2026

Wishing everyone a happy King’s Birthday! May this day bring warmth, joy, and well-deserved time to celebrate with loved ones. 👑✨

Address

1/16 Prosperity Street
Truganina, VIC
3029

Opening Hours

Monday 9:30am - 5:30pm
Tuesday 9:30am - 5:30pm
Wednesday 9:30am - 5:30pm
Thursday 9:30am - 5:30pm
Friday 9:30am - 5:30pm
Saturday 10:30am - 3pm

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