Taxation & tax advice for individuals and small businesses in Australia — practical guides, newsletters and expert tips on tax returns, CGT, trusts and estate tax compliance.
Imagine waking up to a legal notice that puts a A$1.2 million claim on your family home because of a contract dispute in your business you didn't see...
This month’s edition features articles on current tax issues such as: Payday super checklist for employers: Steps to stay compliant From 1 July 2026, employers will be required to pay superannuation guarantee (SG) contributions at the same time as salary and wages. This represents a significant shift for many businesses. We outline what the new rules mean and provide a practical checklist to help small employers prepare now. Commonwealth seniors health card (CSHC): What’s changing from 20 March 2026 The CSHC offers valuable benefits for eligible self-funded retirees, including reduced health costs and cheaper PBS medicines. However, it is [...] READ MORE
Welcome to the February edition of our client newsletter. This month, we’ve curated a selection of timely and practical articles covering important developments in tax, superannuation, and financial planning – all designed to help you stay informed, confident, and in control of your financial affairs. Click here to download our February Newsletter, where you will find invaluable information regarding: Changes to the tax treatment of holiday homes Holiday homes have long been a grey area from a tax perspective. New ATO guidance has tightened the rules around the taxation of holiday rental properties, particularly where owners rent out all [...] READ MORE
Lodging a final Deceased Estate Tax Return is one of the essential things to do when managing someone's final affairs. Dealing with the loss of a loved one is a deeply emotional and challenging time. Beyond grief and sorrow, there are often numerous administrative tasks to navigate. One of these tasks is managing the deceased person's tax return. It can seem daunting, especially if you're unfamiliar with the tax system. However, understanding the process can make it less overwhelming. We, as Accountants who specialise in this area, can help.In the Australian context, the taxation obligations of a deceased person don't [...] READ MORE
Chartered Accountants can make a difference when it comes to managing your finances, finding a good tax accountant in Melbourne At Gartly Advisory, we understand that every client’s tax situation is unique. Our experienced team of tax accountants in Melbourne provide tailored advice, ensuring that you not only meet your tax obligations but also maximise your financial potential. Whether you need a personal tax accountant in Melbourne or help with complex business tax returns, we’re here to make tax time stress-free and efficient. Why Choose Gartly Advisory as Your Melbourne Tax Accountant Hiring a Melbourne tax accountant isn’t just [...] READ MORE
Our November Newsletter features articles on the below topics: Christmas and tax – for business owners Reducing your tax bill while topping up your super Division 296 tax revisited – for super balances over $3 million Home equity access scheme (HEAS) - for older Australians Renting your holiday home - key tax rules Using your home to produce income Click here to download our November Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
This month, we bring you a selection of timely and practical articles covering key updates in tax and superannuation – all designed to keep you informed, confident, and in control of your finances. In this edition: Protecting your super from scams – with over $4 trillion in superannuation, it’s no wonder scammers see it as a target. ASIC has warned Australians to stay vigilant amid rising pushy sales tactics and false promises aimed at persuading people into risky super fund switches. Since your super is one of your most significant investments, we outline key steps to help safeguard [...] READ MORE
One asset protection strategy that is often considered is putting your home in a trust. While this may offer some asset protection benefits, it also comes with significant tax consequences, particularly the loss of the Capital Gains Tax (CGT) principal residence exemption. Before you transfer your most valuable asset into a legal structure such as a company or trust, here’s what you need to know about how family trusts work, when they do and don’t protect your home, and why CGT issues can often outweigh the protection benefits. What Is a Family Trust and How Does It Offer Asset Protection? [...] READ MORE
Here’s what’s inside our September newsletter: Economic roundtable wash up – We break down last month’s economic and productivity roundtable outcomes, with the government firmly in control of what tax policy measures might or might not be introduced down the track. Exceeding your super contribution caps – Super is a great tool for retirement savings, but annual contribution limits apply. We explain what to do if you go over the cap and how to navigate the rules effectively. CGT and off the plan purchases – Buying property off the plan? There are important CGT implications you need [...] READ MORE
What’s inside our August Newsletter? Unlocking savings: Your guide to Government concession cards Some CGT consequences of divorce and relationship breakdown The great wealth transfer: Are you ready? Self managed super funds: A suitable path to retirement control? What to expect from tax reform Tax deductibility of clothing Click here to download our August Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
As we start the New Financial Year, here's a few things you will find helpful. What’s inside the July edition? Working from home and occupancy costs Super guarantee increase to 12% New super facts and figures from 1 July 2025 Age pension means test changes – what they mean for you Changes to deductibility of interest on ATO debts Selling shares? Beware of all the CGT rules. Click here to download our July Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client [...] READ MORE
For small business owners, wages and an understanding of how to pay themselves help both their personal finances and stability, as well as the long-term health of the business. Determining an appropriate wage involves balancing profitability, cash flow, and tax efficiency while ensuring the owner is fairly compensated for their time and effort. Many small business owners struggle with whether to take a salary, drawings, or dividends, each with different tax and business sustainability implications. A well-structured owner’s wage strategy can also improve superannuation contributions and support future wealth planning. As a new business owner, you’re already accustomed to [...] READ MORE
This month we features articles on: • Good CGT records can save you money • Concessional super contributions vs mortgage paydown: what’s the smarter move? • Writing a will in a tax-effective manner • Binding death benefit nominations explained • Small-scale subdivision and property development Click here to download our May Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
As June 2025 is fast approaching, this is a friendly reminder to take advantage of the $20K Instant Asset Write-Off & EV FBT Perks before it’s too late and Politicians change their mind! 💥 Slash Your Tax Bill Instantly Eligible businesses can deduct the full cost of assets (up to $20,000 each) in the same year that they are purchased and installed—no waiting, just real-time tax savings. 💸 Free Up Cash Flow & Fuel Growth Less tax = more cash to reinvest in other parts of the business such as Hiring and upskilling staff, Marketing campaigns, Office [...] READ MORE
Our April edition features pieces on: • We may need to talk about your family trust • Selling property? Buyers must withhold and pay the ATO! • Three great reasons to start a transition to retirement pension • Employees vs contractors: what sets them apart • No CGT exemption for homes held on trust • Concessional contributions: can there be too much of a good thing? Click here to download our April Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
Below are some of the key tax, superannuation and cost of living highlights you need to know: • Personal tax cuts • Medicare Levy low income thresholds increased • Higher education loan repayment changes • The missing Instant Asset Write-Off legislation • Super Guarantee payable on payday from 1 July 2026 • Extra tax for super earnings for account balances above $3 million • Energy bill relief • Expanding bulk billing incentives • Cheaper medicines Click here to download our Budget Newsletter Please feel free to contact our office on 03 9597 9966 if you have any queries about [...] READ MORE
Soon, you will no longer be able to claim ATO interest charges. Navigating the Australian Taxation Office's (ATO) penalty and interest remission policies has become more challenging due to recent updates in their guidelines and policy being adhered to by the new ATO Commissioner. This will add substantially to the cost of the DEBT!Taxpayers seeking relief from penalties and ATO interest charges must now adhere strictly to the conditions outlined by the ATO Understanding ATO Interest Charges The ATO imposes interest charges to encourage timely tax payments and to ensure fairness among taxpayers. The primary types of interest charges include:- [...] READ MORE
Our March edition features pieces on: Salary sacrifice vs personal deductible contributions: and the winner is… Beware of Bitcoin gains! Do you own an asset that is used in your spouse’s business? FBT checklist for 2024-25 Click here to download our March Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
Our February Newsletter is packed with insights to help you navigate the year ahead, keeping you informed about key tax, financial and superannuation changes that may affect you. Articles include: Seven changes impacting your super in 2025 Rental data matching by the ATO Coalition election announcements Super and hardship: a safety net in financial difficulty ATO confirms tax deductibility of financial advice fees Click here to download our February Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
Carry Forward Concessional Contributions can assist in your tax planning strategy for 2025 . As a small business owner, navigating the tax landscape can save money and help you grow your financial future. One area worth exploring is carry-forward concessional contributions. This tax strategy enables you to boost your retirement savings while potentially reducing your tax liability, especially for those in their 50s who have not had sufficient cash flow to contribute in the past. We also use the strategy for those one of big tax bills, such as capital gains, that can sometimes help dilute your tax bill. What [...] READ MORE
Our December Newsletter is packed with helpful articles for the festive season and beyond. As year-end celebrations approach, our first article explains the tax rules around Christmas expenses for business owners. We cover FBT, GST credits, and what’s tax deductible, so you can avoid any surprises. We explore claiming self-education expenses. While these costs are usually tax deductible if they relate to your work, there are some exceptions to be aware of. We also share “12 super tips for a merry and bright retirement.” These simple steps can help you get the most out of your super and build a more secure future. For [...] READ MORE
Our November edition features pieces on: How taxable is that side hustle? The black hole of CGT and trusts What we know so far about payday super What tax receipts do I need to keep? Super on parental leave pay is now law Enjoy reading our Newsletter here: GARTLY-November-2024 Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
Our October Newsletter features pieces on: Making contributions later in life What is the right business structure? Selling a property with mixed rental and residential use Comparing SMSFs with other super funds The dangers of failing to declare income or lodge returns Our Newsletter can be found here: GARTLY-October-2024 Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
Our September Newsletter features pieces on: Who is a spouse under the tax laws, and why does it matter? Riding the market waves Take care if you sell your home after leaving Australia Separation and divorce: CGT consequences…and relief Setting up an SMSF: Who can join the fund? “Debt recycling”…flavour of the month Please read our Newsletter here: GARTLY-September-2024 Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
This month features pieces on: The importance of “tax residency” Changes to preservation age CGT and foreign residents: complex rules apply! Selling a small business operated through a company – sell the shares or sell the assets? Spouse contributions splitting Breaking up (by text) is hard to do Small business energy incentive Our Newsletter can be found here: GARTLY-August-2024 Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.
Geoff Gartly, Chartered Accountant, SMSF specialist, Business Exit Planner and Certified Business Valuebuilder Advisor, has over 35 Years of experience working with large and small businesses in accounting.
563 North Road, Ormond Victoria Australia 3204
(03) 9597 9966
admin@gartlyadvisory.com.au
Monday – Friday
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© Gartly Advisory Chartered Accountants 2024 | Privacy Policy & Website terms and conditions | Complaints Policy | Financial Services Guide
© Gartly Advisory Chartered Accountants 2024 | Privacy Policy & Website terms and conditions | Complaints Policy | Financial Services Guide
© Gartly Advisory Chartered Accountants 2024
| Privacy Policy & Website terms and conditions
| Complaints Policy | Financial Services Guide
