If you have worked in Australia, your employer is required to pay Superannuation Guarantee (SG) contributions into your nominated superannuation fund. The current minimum SG rate for FY2026 and FY2027 is 12%. When you permanently depart Australia, eligible temporary residents may apply to have their superannuation released through the Departing Australia Superannuation Payment (DASP) process. How Much Will You Receive? Visa Type Approximate Amount Received Tax Deducted Workin

Managed funds have become one of the most accessible and widely used investment vehicles in Australia, appealing to both new and experienced investors seeking professionally managed and diversified portfolios. By pooling money from multiple investors, managed funds allow individuals to access a broad range of assets—such as shares, bonds, property, and cash—without needing to select or monitor each investment themselves. This structure has contributed to long‑term wealth crea

With the significant tax reforms proposed in the 2026 Federal Budget, there may be more limited opportunities for new investors to use traditional property-based tax strategies. For a summary of the proposed 2026 Budget tax changes, including CGT, negative gearing, discretionary trusts and SMSF borrowing, please refer to our article below: https://www.aytaxfinancial.com/post/budget-2026-tax-reform-cgt-negative-gearing-trust-tax-changes-and-smsf-borrowing-banned Turning Home L

Budget Night 2026 (as of "12 May 2026 at 7.30pm") introduces the most significant tax reforms in decades, targeting capital gains tax (CGT), negative gearing, and discretionary trust taxation. These changes will reshape how Australians invest in property, manage portfolios, and structure family wealth. This measure is not yet law. However, it is expected Capital Gains Tax (CGT) Reform – Effective 1 July 2027 Residential Property Condition Relevant Timing Proposed Tax Treatmen

With the current employment market becoming increasingly challenging, many taxpayers are seeking additional income through platforms such as Uber, Menulog, DoorDash, AirTasker and similar services, including starting their own small business or entrepreneurial activities. If you earn other income from any of these sources, please ensure you provide us with your business income and expense records. This allows us to accurately report your earnings and review any eligible deduc

Exchange-Traded Fund (ETF) is investment fund has been one of the most attractive investment for new-entry or beginner investor due to the easy access and manage investment. Noticing that the history in the past decades have been creating millionaires in the world, it has been sought after investment. We understand that vast majority of our client has been investing in ETFs. Hence, we would like to assist you to make your life easier to report your income distribution and cap

With the rapid growth of digital assets worldwide, many taxpayers including our clients are now actively involved in cryptocurrency trading. As participation continues to rise, it is essential to understand how these transactions are treated for tax purposes, particularly when calculating profits/losses and/or capital gains/losses. In the current market environment, where prices remain highly volatile and subject to sharp fluctuations, retail investor (taxpayer) activity has

A wash sale occurs when an investor sells an asset — such as shares or cryptocurrency to intentionally create a capital loss to offset capital gains made during the financial year, and then repurchases the same or a substantially similar asset shortly after. The primary purpose of this arrangement is often to reduce tax. The ATO may deny the capital loss if the transaction is carried out mainly to obtain a tax benefit, especially where there is no genuine commercial purpose b

With markets experiencing sharp and frequent fluctuations, retail investors have become increasingly active. This heightened volatility has created opportunities that many traders have capitalised on, resulting in profitable outcomes for some. Whenever a gain or loss arises from the disposal of shares—whether through share trading or long‑term shareholding—the ATO requires taxpayers to report these results in their tax return. To support this obligation, we have prepared this

Since 2024, the ATO has begun data‑matching taxpayers who claim the Medicare Levy Exemption (MLE). Please note that holding a Medicare Entitlement Statement (MES) Certificate does not automatically entitle you to an exemption. Your MES must cover the exact period you are claiming, and your dependants—including your spouse or partner, where applicable—must also be ineligible for Medicare benefits. The ATO may deny your claim if: you do not have a valid MES; or the number of ex

The Australian Taxation Office (ATO) has introduced a new feature called “verify call” in its mobile app to help taxpayers stay safe from scam calls. With scam activity increasing, especially during tax season, this feature gives individuals a quick and simple way to check if a call claiming to be from the ATO is actually legitimate. In practice, if you receive a call from someone saying they are from the ATO, you can open the app, log in, and tap the “verify call” option. Wi

On 12 May 2026, as part of the 2026–27 Federal Budget, the Government announced it will introduce the $1,000 instant tax deduction. This measure is not yet law. This means you may be able to claim $1,000 as a tax deduction without needing to list all your work expenses. If this passes, it is expected to start from the 2027 financial year. For example, if your tax rate is 30%, a $1,000 deduction does not give you $1,000 back. Instead, it reduces your taxable income by $1,000,

For an individual (the “Taxpayer”), tax return deadline depends on whether they engage a tax agent service or lodge their own tax return. If the taxpayer lodge their own tax return, the due date is 31 October. However, if the taxpayer engages with registered tax agent and being on appointed them prior to 31 October, the taxpayer will move up their due date to 15 May the following year. However, if the taxpayer has an overdue tax return in the prior year, the due date for th

Penting untuk mengetahui bahwa sebagian besar institusi perbankan tidak langsung melaporkan penghasilan bunga ke Australian Taxation Office (ATO) pada awal tahun keuangan baru (1 Juli). Akibatnya, penghasilan bunga Anda mungkin belum muncul di data pre-fill ATO saat Anda mulai menyiapkan pelaporan pajak di awal musim pelaporan. Namun, untuk menghindari keterlambatan yang tidak perlu dan agar dapat menyiapkan pelaporan pajak lebih awal, sebagian besar bank menyediakan fasilita

It is important to note that the majority of banking institutions do not immediately report interest income to the Australian Taxation Office (ATO) at the beginning of the new financial year (1 July). As a result, your bank interest may not yet appear in the ATO prefill data when preparing your tax return early in the season. However, to avoid unnecessary delays and to prepare your tax return earlier, most banks provide the ability for customers to download their own interest

We all know that during and after COVID-19, ATO improved its system digitally for audit, security, and privacy purposes. However, I will be focusing on the audit areas that ATO has been pursuing. As the tax time approaches, ATO has announced that they will be taking a closer look at the few common errors being made by taxpayers: Overclaiming work-related expenses (i.e. WFH expenses); Overclaiming deduction for rental properties (i.e. incorrect apportionment of interest on loa

The Government has confirmed the tax cut starting 1 July 2024 (i.e. 2025 financial year). The idea is to provide more cashflow for the taxpayer (i.e. you) to ease cost-of-living pressures for Australian, as the living costs in Australia have significantly increased due to inflation. As such, the tax cut (lower tax) being introduced is merely helping you get more money on each paycheck (i.e., weekly, fortnightly, or monthly, depending on your circumstances). Question of asked:

Welcome to our Referral Credit Reward Program 💰 AY Tax and Financial is excited to introduce this program for our valued and loyal clients. This program is ongoing and available to all clients. Referral Credit Reward ("RCR") The RCR structured as follows: Number of New Referrals RCR Amount (in accumulation) First (1st) $10 Second (2nd) $20 Third (3rd) $40 From the fourth (4th) for each new referral $20 How to be eligible in participating: You (the "Referrer") must introduce

The Federal Budget 2023 has ABOLISHED the $1,500 Low Middle Income Tax Offset ("LMITO"). This will be the most significant factor that...

It was a nice gesture from the Federal Government to give out up to $750 each week from Centrelink for most taxpayers that went through a...