The ATO has recently highlighted two sectors that will be under closer scrutiny this year: construction and professional services. This includes everyone from tradies and builders through to engineers, consultants, and even accountants. The key point is straightforward: accurate, consistent reporting is essential as small errors can quickly escalate. Why These Industries Are in the Spotlight According to the ATO, these sectors are showing recurring compliance issues across: R

There's a common myth that dual cab utes are automatically exempt from fringe benefits tax (FBT). However, that's not the case. If an employer provides dual cab utes to staff to complete their duties and the vehicle is available for personal use, then the benefit may be subject to FBT. By understanding how your employees use their dual cab utes, you can work out if FBT applies. When FBT doesn't apply To qualify for an exemption, 2 conditions must be met. The dual cab ute must

The ATO has recently sharpened its focus on employers who lodge their Superannuation Guarantee Charge (SGC) statements late — and the consequences can be costly. A key risk is the Part 7 Penalty , which can impose a minimum 40% penalty  (and up to 200%) on top of the unpaid super and interest. This penalty applies even if you eventually lodge the SGC statement voluntarily , and even if the super has since been paid. The ATO’s message is clear: late is late , and employers mus

Leaving debts outstanding with the ATO is now more expensive for many taxpayers. General interest charge (GIC) and shortfall interest charge (SIC) imposed by the ATO is no longer tax-deductible from 1 July 2025. This applies regardless of whether the underlying tax debt relates to past or future income years. With GIC currently at 10.61%, this is now one of the most expensive forms of finance in the market — and unlike in the past, you won’t get a deduction to offset the cost

When it comes to your superannuation, many people assume that their Will automatically decides who receives these funds  when they die .  T his is not the case however, as super is not automatically covered by your Will .  Without proper planning, your super may not end up with the people that you intend  it to . To ensure that your balance goes to the people that you choose, there are two types of nominations that you could make regarding your member balance on your death: 1

The Government has released further detail on the proposed Division 296 tax on super balances over $3M .  While the legislation is yet to pass Parliament, the latest information provides a clearer picture of how the rules are expected to operate once implemented. The summary below reflects the details currently available and may still change as the proposal progresses. Timing The start date has been delayed to 1 July 2026 so asset values on 30 June 2026 will be important Your

From 1 July 2026 , employers will need to pay employees’ super at the same time as their wages  — instead of quarterly. This change is known as “Payday Super.” What this means Super must be paid and received by the fund within 7 days of each payday. The Small Business Superannuation Clearing House  will close from 1 October 2025  (and fully end 1 July 2026). The rules are designed to make sure employees’ super is paid regularly and on time. What you can do now Review your pa

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On 1 July 2025 the superannuation guarantee rate increased to 12% which is the final stage of a series of previously legislated...

With more people working from home, it’s important to know what expenses you can claim in your 2025 tax return. The Australian Tax Office...

The ATO has reminded businesses and individuals to be careful when changing (or “varying”) PAYG instalments. The key rule: don’t reduce...

The ATO is stepping up its efforts to make sure everyone lodges their tax documents on time and pays any outstanding debts. Lodgements:...

Revenue NSW is stepping up its efforts to make sure businesses pay the right amount of payroll tax. Using data and smart analytics, they...

When it comes to your super, many people assume that their Will automatically covers who receives these funds. However, superannuation is...

The share market never stands still, and neither should your knowledge. In this webinar hosted by Jeni Wilcock, Director at Sullivan...

At our recent Sullivan Dewing Economic Update, we were joined by Tapas Strickland, Head of Market Economics at NAB, who shared valuable...

Several important tax and financial updates came into effect on 1 July 2025 . These changes will impact employees, employers, retirees,...

The ATO are coming for blood! We’ve uncovered a nasty surprise that could be catching many unsuspecting taxpayers off guard—especially...

Division 296 super tax is a controversial Federal Government proposal to impose an extra 15% tax on some superannuation earnings for...

If you're carrying an Australian Taxation Office (ATO) debt there is a good chance that it will cost you even more from 1 July 2025...