Winter 2026

Smart tax and super planning before EOFY

Tax time is just around the corner, so now is the time to make sure you’re prepared for 30 June.

Each year, the ATO highlights its areas of focus. Taking a few minutes now to review these can help you avoid issues when lodging your return.

Work-related deductions under scrutiny

This year, the ATO is focusing on work-related deductions and income that’s not declared on tax returns.

If you are claiming work-related expenses, ensure they meet the ATO’s three golden rules:ⁱ

1. The expense must be directly related to earning your income
2. You must not have been reimbursed
3. You must have records to support your claim, such as receipts or a logbook

For working from home expenses, you can use either the actual cost method or the fixed rate method.

Instant asset write-off

The instant asset write-off remains an important tax concession for Australian small businesses in the 2025–2026 financial year. Eligible businesses with an aggregated turnover of less than $10 million can immediately deduct the business portion of eligible assets costing less than $20,000, instead of depreciating them over several years. The asset must be first used or installed ready for use between 1 July 2025 and 30 June 2026.ⁱⁱ

Don’t overlook income

The ATO is also paying close attention to undeclared income. This includes:ⁱⁱⁱ

• Cash payments
• Interest income
• Rental income
• Earnings from crypto assets

For those with a side hustle, check whether it may be considered a business. All business income, regardless of amount, is assessable and must be declared.^iv

If you intend to claim deductions for business expenses related to your side hustle, ensure they are directly connected to earning that income and are supported by receipts.

Time for a portfolio review

Recent market volatility makes this a good time to review your investment strategy.

Checking your capital gains or losses before 30 June allows you to take action where appropriate.

For example, you may consider realising capital losses to offset gains from assets such as shares, property or crypto.

Tax timing strategies

If you have regular deductible expenses, such as investment loan interest or annual costs, it may be useful for some to prepaying them before 30 June to claim a deduction for this financial year.

You may also consider the timing of income expected before 30 June. Deferring income until after the end of the financial year may help reduce your tax liability.

Tax rates are also changing for lower income earners. From 1 July 2026, the rate for income between $18,201 and $45,000 will reduce from 16 per cent to 15 per cent, with a further reduction to 14 per cent the following year.

Super contribution strategies

The end of the financial year is an ideal time to review your super contributions.

If you plan to contribute before 30 June, check when your employer will make their contributions. The introduction of Payday Super means some employers are contributing earlier, which may affect your contribution caps.

For SMSF members, make sure that:

• All contributions are received by the fund’s bank account by 30 June
• Minimum pension payments are made
• Asset valuations are up to date
• Fund records are current

Be alert for tax time misinformation

The ATO is warning taxpayers to be cautious about the growing wave of tax “tips”, shortcuts and refund claims circulating online.

Content from social media, “finfluencers” and even artificial intelligence tools can sound convincing, but it is not always accurate or relevant to Australian tax law. Acting on this kind of advice can lead to incorrect claims, delays in processing returns and, in some cases, penalties.

Larger refunds, easy deductions or so-called “loopholes” should always be checked against trusted sources.

Ultimately, you are responsible for the accuracy of everything included in your tax return, regardless of where the advice came from.

Taking a few extra minutes to verify information before you lodge can help you avoid costly mistakes and keep your return on the right side of the rules.

Please get in touch if you need any help preparing for the end of the financial year.

Source: https://www.ato.gov.au

Tax Alert June 2026

Prepare your business for tax changes and Payday Super

Recent updates from the ATO highlight a mix of proposed tax changes and compliance priorities, with new draft legislation under consideration and practical guidance released ahead of the Payday Super changes starting 1 July 2026.

Check eligibility for tech booster deduction

Small businesses are being encouraged to review their eligibility for the government’s proposed Technology Investment Boost, although the legislation is yet to be passed.ⁱ

Under the original proposal, eligible businesses could claim a bonus tax deduction of up to $2,000 for technology spending. This applies to investments exceeding $4,000 in areas such as digital systems, e-commerce platforms, cyber security and online marketing tools.

Businesses with annual turnover of up to $10 million may qualify, with eligible expenditure incurred between 1 July 2025 and 30 June 2027.

While not yet law, reviewing planned or recent technology spending may help businesses act quickly if the measure is enacted.

Standard $1,000 deduction proposal

Another proposed measure is the introduction of a standard $1,000 deduction for work-related expenses, with draft legislation released for consultation.

If implemented from 1 July 2026, the deduction would be available to taxpayers earning employment income. Taxpayers with work-related expenses below $1,000 could claim the standard deduction without detailed receipts.

Importantly, existing rules will remain available for those with higher expenses, or for individuals earning only business or investment income.

The proposed deduction would sit alongside other claims, meaning taxpayers could still separately deduct investment expenses, charitable donations, and union or professional association fees.

Preparing for Payday Super

With Payday Super due to get underway on 1 July 2026, the ATO has released checklists and guidance to help employers prepare.ⁱⁱ

The new regime will require super contributions to be paid at the same time as wages, rather than quarterly. To support the transition, the ATO has published resources covering:

• Key pre-implementation tasks
• Managing pay runs across the June–July transition period
• Single Touch Payroll reporting requirements
• Ongoing compliance under the new system

Employers are encouraged to review payroll systems, processes and cash flow implications now to ensure a smooth transition.

GST reporting thresholds in focus

The ATO is also reminding growing businesses to review their GST reporting obligations as turnover increases.ⁱⁱⁱ

Businesses that reach $10 million in GST turnover must move from Simpler BAS to full BAS reporting and adopt a non-cash (accrual) accounting method for GST.

Once turnover reaches $20 million, GST reporting must shift from quarterly to monthly lodgment.

The ATO says it’s noticed some businesses are failing to update reporting methods after crossing these thresholds and they will contact businesses directly.

Fuel tax credit rate changes

Taxpayers claiming fuel tax credits should ensure they are applying the correct rates following changes from 1 April 2026 to temporarily reduce fuel excise by 60.9 per cent.^iv

As fuel tax credits are based on the excise duty payable on fuel, there will be different rates that apply before and after that date.

In addition, the heavy vehicle road user charge has been reduced to zero for the period 1 April to 30 June 2026.

Digital lodgment for partnerships

The ATO continues to expand digital reporting requirements, with all partnerships now required to lodge Statements of Distribution (SODs) electronically.^v

This applies regardless of the size of the partnership. Lodgment can be completed through standard business reporting-enabled software or via a registered tax agent.

The digital data enables the ATO to cross-check that partners are accurately reporting their share of income in their individual tax returns.

Strengthening business security

Finally, the ATO is encouraging businesses to review access to their online accounts as part of good governance and fraud prevention.^vi

Business owners should:

• Regularly review authorised users in the Relationship Authorisation Manager
• Remove access for staff who have left or changed roles
• Check permissions for sensitive functions within ATO Online Services for Business and the Australian Business Register.

Keeping access controls up to date is a simple but effective way to reduce the risk of unauthorised activity.

Source: www.ato.gov.au

Your 30 June superannuation checklist

Five easy ways to get more into your super fund before the end of the financial year

With the end of the current financial year fast approaching, time is running out if you’re planning to boost your superannuation balance before 30 June.

Even depositing a small amount of extra money into your super account before 30 June this year could make a big difference to your overall retirement balance over the longer term, thanks to compounding investment returns.

Below are five ways you could be able to add more into your super fund account before 30 June, subject to various conditions.

Concessional (before-tax) contributions

You’re able to have up to $30,000 in concessional (pre-tax) contributions deposited into your super account each financial year, which include compulsory Superannuation Guarantee payments made by your employer and any personal contributions you choose to make. From 1 July 2026, for the next financial year, this concessional cap will increase to $32,500.

Concessional contributions are taxed at 15%, instead of your marginal tax rate.

If you’re currently below the annual limit you could take the opportunity to add personal contributions into your super account before 30 June. This can be done either from your pre-tax salary via an existing salary-sacrifice arrangement through your employer, or by using after-tax money to deposit funds directly into your account.

If you deposit after-tax money into your fund, you may be able to claim a tax deduction in your next tax return given that concessional contributions are taxed at 15%.

However, to claim a deduction, you must complete an Australian Tax Office (ATO) form advising your super fund. You must also receive an acknowledgement from your super fund. And both these things will need to happen before you lodge your next tax return.

Keep in mind that this is usually a busy time of the year for super funds, so there could be processing delays. Many super funds have a June cut-off date for processing personal super contributions, which can be one to two weeks before the end of the financial year.

Be aware that if you exceed the total annual limit of $30,000 at 30 June the ATO may require you to pay additional tax.

To avoid exceeding the annual limit it’s important to add up your employer contributions during the financial year plus any extra contributions you’ve already made and then calculate the concessional contributions balance that’s left.

Carry forward (catch-up) concessional contributions

You may have another option available that will enable you to get more concessional contributions into your super account before 30 June.

That depends on your superannuation balance and whether you’ve used up your maximum concessional contributions amount this financial year (that is, you’ve already contributed $30,000).

Individuals with a total superannuation balance below $500,000 as at 30 June of the previous financial year can carry forward and apply their unused concessional contributions for up to five financial years. Unused concessional contributions expire after five financial years, so it’s important to check which amounts are still available before contributing.

For example, if $15,000 in employer and personal concessional contributions were made into your super account in 2021-22, you may be able to take advantage of your unused $12,500 gap from that financial year (the maximum concessional contributions limit was $27,500 in 2021-22) and roll it over into this financial year’s contributions.

This $12,500 would be in addition to the maximum $30,000 in allowable concessional contributions that can be made this financial year (allowing you to contribute up to $42,500 in this example).

For many Australians the unused portion of concessional contributions available from previous financial years may add up to tens of thousands of dollars.

You can view and manage your concessional contributions and carry-forward concessional contributions by accessing the ATO’s online services by logging in to your myGov website account.

Non-concessional (after-tax) contributions

Non-concessional contributions are after-tax personal contributions you may be able to make into your super fund, which can’t be claimed as a tax deduction.

They’re separate from your annual concessional contributions and are subject to their own annual limits.

The main advantage of making non-concessional contributions is to accumulate more of your money inside the super system.

Earnings from any investments inside your super account before age 60 are taxed at 15%. After age 60, if you have stopped work and access your super as a pension income stream, your investment earnings and the payments you receive are tax free.

Typically, non-concessional contributions are made using the proceeds from larger asset sales. But there’s no minimum non-concessional contribution amount.

The non-concessional contributions maximum limit is currently $120,000 this financial year. However, under what’s known as the “three-year bring-forward rule”, you may be able to make a $360,000 non-concessional contribution this financial year. Eligibility depends on your total super balance as at 30 June of the previous financial year.

You’re then unable to make further non-concessional contributions for the next three financial years.

If you have more than $360,000 to contribute, you could use the current $120,000 annual limit before 30 June. From 1 July, the non-concessional cap increases to $130,000, allowing eligible individuals to use the three-year bring-forward rule to contribute up to $390,000, provided the bring-forward has not already been triggered before 30 June.

Speak to us if needed as there are circumstances where the “bring-forward” rule does not apply.

Home downsizer contributions

Although this option isn’t strictly tied to the financial year end, you may be able to contribute up to $300,000 into your super fund using proceeds from selling your principal place of residence if you’re aged 55 or older. Couples can contribute up to $300,000 into their super each.

A downsizer contribution forms part of the tax-free component in your super fund. It can be made in addition to non-concessional super contributions and doesn’t count towards the annual contributions cap.

Ultimately, however, any downsizer contribution you make will count towards your transfer balance cap when you eventually move your super into pension phase.

There are a range of conditions around downsizer contributions, and it’s prudent to check these on the ATO website.

You or your spouse must have owned your home for 10 years or more prior to the sale, with your ownership calculated from the date of settlement when you bought your home.

There’s also a strict definition of what constitutes a home. It must be in Australia and can’t be a caravan, houseboat, or a mobile home.

You’re unable to use the downsizer scheme to deposit funds from the sale of an investment property. These can only be done through a non-concessional (after-tax) super contribution.

A downsizer super contribution must be made within 90 days after you receive the proceeds of your home sale. The ATO will allow for a longer period due to circumstances beyond your control.

It’s prudent to check all the conditions and your eligibility on the ATO website or speak to us for help.

Spouse contributions

The ATO allows couples to split their annual employer concessional contributions, as well as additional salary sacrifice and personal super contributions.

There are two ways of contributing to your spouse’s super:

• You may be able to split contributions you have already made to your own super, by rolling them over to your spouse’s super – known as a contributions-splitting super benefit.
• You can make a super contribution directly to your spouse’s super, treated as their non-concessional contribution, which may entitle you to a tax offset.

Any splitting of contributions must be done after the end of the financial year in which the super contributions were made.

Super splitting can be done at any age, but a spouse must be either less than age 60, or between age 60 and 65 years and not retired.

Couples wanting to split their super contributions first need to check whether their super fund allows it.

The full guidelines around contributions splitting, including eligibility and the application form that needs to be completed, are available on the ATO’s website.

Contact us

Super and retirement planning is a complex area.

Take care to understand the contributions types and limits carefully as there are significant tax penalties for exceeding the applicable contributions caps.

There are also aged-based limits on contributing into super.

Before making any additional contributions to your super, it’s important to consider whether this is appropriate for your personal circumstances. Super is a long-term investment, and in most cases you won’t be able to access these funds until you meet a condition of release (such as reaching preservation age and retiring).

If you’re unsure about your super options before June 30 and need some advice, contact us for more information.

^{Important information and general advice warning}

^{Vanguard Super Pty Ltd (ABN 73 643 614 386 / AFS Licence 526270) (the Trustee) is the trustee of Vanguard Super (ABN 27923449966) and the issuer of Vanguard Super products. The Trustee has contracted Vanguard Investments Australia Ltd (ABN 72 072 881 086 / AFS Licence 227263) (VIA) to provide some services to members of Vanguard Super. Any general advice is provided by VIA. The Trustee and VIA are both wholly owned subsidiaries of The Vanguard Group, Inc. (collectively, “Vanguard”). The retirement savings tips provided above are general in nature and don’t take into account your personal financial objectives, situation or needs. You should consider your objectives, financial situation or needs, and the Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making any decision about Vanguard Super. The PDS and TMD can also be accessed free of charge by calling 1300 655 101. Before you make any financial decision regarding Vanguard Super, you may wish to seek professional advice from a suitably qualified adviser. Any past performance information is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance. The information above is current as at time of publication and was prepared in good faith and we accept no liability for any errors or omissions. ©2026 Vanguard Investments Australia Ltd. All rights reserved.}

Finding your flow in thirds the 3-3-3 productivity hack

If your workday and list of things to do often feels unrelenting, you are not alone. For years, hustle culture glorified long hours, constant motion, and sacrificing rest to prove commitment. It promised success, but left many busy professionals drained, distracted, and stuck in a cycle of busyness without progress.

Structured focus offers a smarter alternative. Instead of working harder, break your day into manageable blocks, and get more done without the chaos. It’s simple, practical, and surprisingly effective for those who need to reclaim control over their time.

Why hustle culture is out and thirds are in

Hustle culture teaches that long hours equal achievement and that success comes only through constant activity. Back-to-back meetings, late-night emails, and glorified exhaustion are all symptoms of this mindset. While it may create the illusion of productivity, the reality is often stress, fatigue, and diminishing returns. The resulting lack of productivity is the opposite of what hustle culture was trying to achieve.

Structured focus provides a more appealing alternative to the ‘nose to the grindstone’ approach and one of the easiest methods to employ is known as ‘3-3-3′.

The 3-3-3 method divides your day into thirds for focused work, shorter tasks, and maintenance activities, prioritises quality over quantity and focus over frenzy. It allows high-value work, smaller responsibilities, and upkeep to coexist without competing for attention.

The benefits of working in thirds

Dividing your day into thirds offers several key advantages. It reduces stress by providing clear boundaries between different types of work, improves productivity by dedicating time to high-value tasks, and encourages sustainable performance over the long term. Working in thirds also gives a sense of control, transforming productivity from a stressful race into a deliberate, satisfying practice.

Making the 3-3-3 method work for you

Implementing the 3-3-3 method is simple but you do need a plan. It’s important that you stick to your plan. Don’t let extra tasks sneak in and steer you off course. Three tasks shouldn’t turn in seven. If you finish your three tasks early, take a break, go for a walk or make a cup of tea and think about what you accomplished. If you start adding more tasks, you could begin to feel overwhelmed, which may eventually lead to burnout.

Consistency is key. Practicing this approach day after day turns structured focus into a habit. Adjust the timing to suit your personal rhythm, but keeping the principle of thirds ensures your workday stays organised, productive, and balanced.

Working in thirds transforms the workday from stressful chaos into a structured, rewarding practice. For busy professionals, it is a game changer – a simple, practical way to work with focus, clarity, and calm accomplishment.

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This information is provided for educational purposes. It does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. While all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither ALK Financial Group, Arthur Kyriacou & Co., ALK Wealth Pty Ltd, ALK Finance Pty Ltd, ALK Property Trust nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.