2026 Year-End Planning Guide
With 30 June fast approaching, we thought it would be an opportune time to provide you with a Year-End Planning memorandum. This document details key dates, recent reforms and tax planning opportunities that may affect you and your business. Read our year-end planning guide here! Key summary points! Please do not hesitate to contact our […]
Federal Budget 2026 – 2027 Analysis
Click here for our full recap of the budget. On Tuesday, 12 May 2026, Treasurer Jim Chalmers handed down the 2026–27 Federal Budget. The 2026–27 Budget introduces some of the most significant changes to the Australian tax system this century. The key measures include reforms to Capital Gains Tax, negative gearing and the taxation of […]
2026 FBT: Fringe Benefits Tax
As we approach the end of the Fringe Benefits Tax (FBT) year, we would like to highlight some important developments for 2026. The ATO has been allocated a significant audit and compliance budget, and we are seeing continued focus on fringe benefits, particularly in relation to motor vehicle benefits and meal entertainment. With this increased […]
ATO Late Lodgement
The ATO is taking a stricter approach to late lodgement of activity statements, and penalties may apply where a BAS or IAS is not lodged by the due date. If we prepare your BAS or IAS, it will be uploaded to FuseSign for your review and electronic signature once it has been completed. You will […]
$3m Superannuation Tax Update
In March 2026, the Government passed the Division 296 superannuation tax measures, which are intended to apply from 1 July 2026 to individuals with a total superannuation balance above $3 million at the end of the financial year. The legislation also introduces a further reduction in tax concessions for individuals with very large balances above […]
PayDay Super
The Federal Government is introducing Payday Super, which will change how and when employers pay their employees’ superannuation. From 1 July 2026, employers will be required to pay super at the same time as salary and wages on each payday, rather than making quarterly payments. Super contributions will need to be received by the employee’s super […]
International Travel Restrictions on Unpaid ATO Tax Debts
MGI Adelaide is back on board for 2026 and ready to support you in the year ahead. As part of keeping our clients informed, we would like to highlight a recent focus area for the Australian Taxation Office (ATO). The ATO has increased its focus on debt recovery and is making greater use of Departure […]
Division 296 Super Changes Announced
Yesterday the Treasurer, Dr Jim Chalmers, announced revisions to the proposed Division 296 tax on earnings linked to very large superannuation balances. The revised settings are intended to be fairer and simpler, and the start date has been pushed back by a year. Key Changes: What this could mean for you: Most Australians will not […]
ATO Interest No Longer Tax Deductible – We have a solution!
Important Tax Update: ATO Interest Deductions Ending Soon From 1 July 2025, interest charged by the ATO on unpaid tax debts will no longer be tax deductible. This applies to general interest charges on income tax, GST, PAYG and superannuation liabilities. If you have a current payment plan with the ATO or anticipate needing one, […]
2025 Year-End Planning Guide
With 30 June fast approaching, we thought it would be an opportune time to provide you with a Year-End Planning memorandum. This document details key dates, recent reforms and tax planning opportunities that may affect you and your business. Read our year-end planning guide Key Summary Points Please do not hesitate to contact our office […]