Journey2 Business & Personal Wealth

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Journey2 Business & Personal Wealth

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06/06/2026

King's Birthday Public Holiday Notice

Please note that the Journey2 team will be closed on Monday, June 8 in observance of the King's Birthday Public Holiday.

We will resume normal business operations on Tuesday, June 9 and look forward to assisting you with all your business advisory, accounting, taxation, and growth strategy needs.

If you require assistance, we encourage you to contact us before the public holiday or leave us a message, and we'll get back to you as soon as possible upon our return.

📞 Need business advice or support? Reach out to the Journey2 team today and let's help you navigate your next stage of growth with confidence.

Wishing everyone a safe and enjoyable long weekend!

05/06/2026

💡 Why Pay Day Super Matters

From July 1 2026, employers will need to pay Superannuation Guarantee (SG) contributions much more frequently under the new Pay Day Super rules.

Instead of paying super quarterly, contributions must be processed and received by an employee’s super fund within 7 days of each payroll run.

Whether your business pays employees weekly, fortnightly, or monthly, these changes will require updated payroll processes and closer cash flow management.

For employees, this means greater transparency, more timely super contributions, and better long-term retirement outcomes.

✅ Is your business ready for Pay Day Super?

Contact our team today to discuss how these changes may impact your payroll, compliance obligations, and cash flow planning.

📞 Get in touch to ensure you're prepared before the new rules take effect.

04/06/2026

If you've had years where you didn't fully use your concessional super cap — good news. You may be able to claim those unused amounts this financial year.

It's called the carry-forward rule, and it's one of the most underused strategies in the Australian tax system.

Here's how it works:

→ If your total super balance was below $500,000 on 30 June of the previous financial year, you're eligible
→ You can access unused concessional contributions from the past five financial years
→ In a strong income year, this can mean a significantly larger super deduction — and a significantly lower tax bill

The ATO tracks unused caps via your myGov account — but it's on you to identify the opportunity and act on it before 30 June.

This is something we check for every single client as part of our EOFY planning process. Most people don't realise they're eligible until we show them the numbers.

Save this. Share it with someone who's had a strong year. And if you're not sure whether it applies to you — reach out now.

📞 (02) 4228 4877
✉️ [email protected]
🌐 journey2.com.au/get-in-touch

General advice only. Speak with our team for advice tailored to your situation.

Could the carry-forward rule reduce your tax bill this year? Let's find out.

03/06/2026

PayDay Super starts July 1 2026.

Is your business ready?

A major change to superannuation is coming, and it affects every Australian employer. From July 1, you must pay your employees' Super Guarantee Levy within 7 days of each pay run.

1. Super contributions must reach your employee's fund within 7 days of payroll — no exceptions.
2. Penalties of up to 60% of unpaid amounts apply for late or missed payments.
3. Xero, MYOB and QuickBooks are all PayDay Super ready — make sure your software is up to date.

Call us today! (02) 4228 4877

02/06/2026

If you operate a discretionary trust, the decisions you make in the next few weeks are some of the most important of the financial year.

Here's what every trustee should have in place before June 30:

✔ Distribution resolutions — signed, before midnight June 30.

The trust's income for FY26 must be formally resolved and allocated to beneficiaries before the financial year ends. Miss this deadline, and the default under the trust deed may apply — often resulting in significantly more tax.

✔ Beneficiary eligibility reviewed.

Adult children, corporate beneficiaries, spouse entities — each needs to be assessed for their tax position before distributions are made.

✔ Loan accounts checked against Division 7A.

Any unpaid present entitlements to corporate beneficiaries must be reviewed for compliance.

✔ Trust deed reviewed.

Can the deed support the distribution strategy you're planning? This matters more than most people realise.

This is not box-ticking. For family groups running income through a trust, getting this right can be worth tens of thousands.

If you're not sure your trust is set up for the best outcome this June — we should talk now.

📞 (02) 4228 4877
✉️ [email protected]
🌐 journey2.com.au/get-in-touch

General advice only. Individual outcomes vary. Speak with our team for advice specific to your circumstances.

Is your trust ready for June 30? Let's review your distribution strategy now.

29/05/2026

If quarterly tax bills leave you scrambling, this Budget change is worth knowing about. From 1 July 2027, small and medium businesses can opt into monthly PAYG instalments instead of quarterly.

That means your tax payments actually reflect what your business is earning right now — not what it earned three months ago.

If you have a slow month, you pay less. If it's a boom month, you pay more. It moves with you. For businesses with fluctuating income, this is a real cash flow win.

DM us or CALL US TODAY to understand how this change affects your cash flow planning.

28/05/2026

Had a rough year in business?

There's something in this Budget that could actually put money back in your pocket. From 1 July 2026, the government has brought back the loss carry-back rule.

Here's how it works:

If your company made a loss this financial year, you may be able to match that loss against tax you already paid in the last two years and get a refund.
It's designed for businesses that hit a bumpy patch. Instead of waiting years to use your losses, you can get cash back now. This applies to companies with a turnover under $1 billion.

Not sure if this applies to you? Call us today!

27/05/2026

The 2026 Federal Budget has made the $20,000 instant asset write-off permanent for small businesses — and it's one of the best practical wins in this year's Budget. For businesses with annual turnover under $10 million, eligible assets costing less than $20,000 can be fully deducted in the year of purchase.

That's immediate cash flow relief on the tools, tech and equipment your business needs to grow. No depreciation schedules.

No waiting. Just a cleaner, simpler deduction. If you've been putting off a purchase, now is the time to move.

Not sure if this applies to you? Call us today and have a chat with our team!

26/05/2026

Quick self-check. Answer honestly. 👇

❓ Question 1: Do you know your projected tax liability for June — to the nearest $5,000?
❓ Question 2: Have your trust distribution resolutions been drafted and signed?
❓ Question 3: Have you reviewed your super contributions against your concessional cap?

If you answered no to any of these, you're not alone. Most business owners we speak to in May haven't addressed all three.

The good news: every single one of these is solvable before June 30. With the right information, the right advice, and enough time to act.

The bad news: "enough time" is a shrinking window.

Reply YES, PARTIALLY, or NO below — we'd love to know where you're at. And if you need help getting to a YES on all three, you know where to find us.

📞 (02) 4228 4877
✉️ [email protected]
🌐 journey2.com.au/get-in-touch

General advice only. Speak with our team for guidance specific to your situation.

✅ Not a YES on all three yet? Let's fix that — book your EOFY review today.

21/05/2026

Before you close the chapter on FY26, it helps to know what's changing on 1 July.

Here's what business owners and high-income earners should be aware of heading into FY27:

→ Concessional super cap increases to $32,500 — plan salary sacrifice and prepayment strategies from day one
→ PAYG instalments in Q1 FY27 will reflect your FY26 income — if it was a strong year, prepare for higher instalments
→ SGL rate increases to 12% from 1 July — factor this into your payroll and cash flow forecasts now
→ Any trust deed and beneficiary structure changes should be documented before distributions are made in FY27

The businesses that handle transitions like this smoothly aren't the ones scrambling in August. They're the ones who planned in May and June.

That's what we help our clients do, not just close out the year, but set up the next one with intention.

📞 (02) 4228 4877
✉️ [email protected]
🌐 journey2.com.au/get-in-touch

General advice only. Speak with our team for advice specific to your situation.
Let's set your FY27 strategy now — book a planning conversation today.

Address

Level 1, 63 Market Street
Wollongong, NSW
2500

Telephone

+61242284877

Website

http://www.journey2.com.au/

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