After several years of consultation and amendment, Division 296 — commonly referred to as the “$3 million super tax” — is now law. The legislation passed Parliament in March 2026 and applies from 1 July 2026, introducing a new layer of tax for Australians with very large superannuation balances. This article explains: The facts —…
From 1 July 2026, Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws will expand in a way that many businesses and individuals will begin to notice. These changes, referred to as the AML Tranche 2 reforms, are not aimed at everyday transactions. However, if you engage professional services such as accounting, legal, property or business…
We have all been there. A new strategy or project is developed with good intent, yet the transition from concept to implementation becomes frustrating. The process can feel overly complex, disjointed, time-consuming and more costly than expected. Very few strategy implementations or projects involve only one person. It is therefore reasonable to conclude that successful…
If you own a holiday home that is also rented out, whether through Airbnb, Stayz or a local agent, the Australian Taxation Office has clarified how the tax rules apply to these arrangements. The updated guidance may affect your ability to claim deductions such as interest, council rates, insurance and maintenance expenses. The focus is…
International Women’s Day is an opportunity to recognise the leadership, resilience and contribution of women across the business community. Many small businesses are built through partnership, persistence and a willingness to step into roles that evolve over time. Simone from Gerbino’s Italian Bakery is a strong example of that journey. Gerbino’s is a well-known Brisbane…
The Australian Taxation Office (ATO) continues to prioritise compliance with fringe benefits tax (FBT), using data-matching and risk-based reviews to reduce the FBT gap and correct non-compliance. Employers should be aware that vehicle benefits and related documentation are key areas of scrutiny going into the 2026 FBT year. The ATO’s own guidance highlights the importance…
From 1 July 2026, Payday Super will require employers to pay superannuation at the same time as wages. This replaces the current system, where super can be paid monthly or quarterly. For employers who already make monthly super contributions, the change is unlikely to have a significant impact. However, for businesses that currently pay super…
With the end of the FBT year fast approaching on 31 March 2026, now is the time for employers to review benefits, confirm records, and plan any last‑minute actions. Careful planning can help ensure you achieve the best outcome. Review employee benefits FBT can apply to a wide range of benefits provided to employees or…
Meeting your QBCC financial covenants specifically Net Tangible Assets (NTA) and Current Ratio has never been more crucial for builders and construction businesses in Queensland. The Queensland Building and Construction Commission (QBCC) uses these metrics to assess the financial viability and compliance of your business with its licensing conditions. For Categories 1 to 7 licence holders,…
Voice for Victims Foundation grew out of a grassroots movement started by Ben Cannon in 2021, after he was himself the victim of a violent crime. That movement sought to highlight shortcomings in a system that too often appeared to prioritise the rights of offenders over the needs of victims. Working with, and standing alongside, so many victims also…
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