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Emcares Accountants

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Australia
Bella Vista, NSW
Emcares Accountants

We offer tailored Accounting and Tax Agent Services to Small Businesses, Individuals, SMSFs & Investors in Australia.

Book a free 15 minutes discovery session with our team via our website www.emcares.com.au.

03/06/2026

Second Job? Don’t Tick the Wrong Box⁠
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Working more than one job can be a great way to boost your income, but ticking the wrong box on your tax declaration form can lead to an unexpected tax bill.⁠
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When you start a new job, you’ll usually complete a Tax File Number declaration form. One important question asks whether you want to claim the tax-free threshold.⁠
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For Australian tax residents, the first $18,200 of annual income is tax-free.⁠
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But here’s the catch...⁠
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This threshold applies to your total combined income, not to each job separately.⁠
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If you claim the tax-free threshold with multiple employers, each employer may withhold tax as though they are giving you the tax-free portion. This usually means not enough tax is withheld from your pay during the year.⁠
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At tax time, the ATO adds all your income together. If insufficient tax has been withheld, you may end up with a tax bill.⁠
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To reduce the risk of a surprise debt, you should generally only claim the tax-free threshold from your main or highest-paying job.⁠
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Not sure what to tick when working multiple jobs? Speak to our team before tax time.⁠
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19/05/2026

Understanding Contractor Super and the Upcoming Payday Changes

If you hire contractors for your business, you might still be legally required to pay their superannuation, and a major change to how this is paid is coming next financial year - 1 July 2026.

Many business owners assume that if a worker has an ABN, submits invoices, or signs a contractor agreement, they are automatically exempt from super.

However, the law focuses on the nature of the work.

If you are paying someone primarily for their time, labor, skills, or personal effort rather than a specific result, they are likely treated as employees for super purposes.

While these rules themselves are not new, the timeline for payments is changing soon.

Starting 1 July 2026, the Australian Government is introducing Payday Super.

This means instead of paying super quarterly, you will need to pay it every single payday.

For contractors, the payday is typically the date you pay their invoice, and that super contribution must reach their fund within 7 business days of that date.

Figuring out worker classifications can be complicated, and getting it wrong can lead to costly penalties.

If you are unsure whether super applies to the contractors you work with, get in touch with our team today.

We can review your arrangements to keep your business compliant and prepared for the 2026 changes.

17/04/2026

If tax time keeps catching you off guard, PAYG instalments can help you stay in control.

PAYG instalments help you pay tax as you earn, instead of facing one large bill at the end of the year.

If you earn income outside your wage such as business income, investments, or contracting, you may already be paying PAYG instalments or it may be worth reviewing.

Next PAYG instalment due: 28 April.

What to know:
Instalments are based on your latest tax return or a variation.
You can choose to start PAYG instalments.
You can update them if your income changes.
They are designed to make cash flow easier to manage.

Want help reviewing your PAYG instalments or varying them before 28 April? Contact our team and ask for a PAYG check.

16/04/2026

If tax keeps catching you off guard, it is often because GST, payroll amounts, super, and income tax are all sitting in the same account as your spending money.

A simple fix is the tax buckets method.

Set aside money each week into separate buckets for GST, PAYG and super, and income tax. This helps you stay organised and makes BAS, super, and tax time far less stressful.

It is a simple habit that can make a big difference to your cash flow.

Contact our team for further guidance 🙂

10/04/2026

If you wait until 1 July 2026, you may be too late to change anything.⁠
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A lot of business owners think tax planning is something your accountant does after EOFY. The truth is most of the useful moves have to happen before 30 June.⁠
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Myth 1: I will sort it out in July⁠
Reality: By July, the year is finished. We can lodge correctly, but we may not change what happened before 30 June.⁠
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Myth 2: Tax planning is only for big businesses⁠
Reality: Tax planning is for every business. Even small changes can make a difference, like timing expenses, paying super early, or prepaying certain costs when allowed.⁠ Small businesses usually have more concessions than large businesses.⁠
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Myth 3: There is nothing I can do to reduce my tax⁠
Reality: There is usually something you can do, but only if you look early enough and do it properly.⁠
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If you want a quick EOFY check and clear next steps, contact the our team. We will tell you what to focus on before 30 June.⁠
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09/04/2026

Want to pay yourself from your company without calling it “salary”?

Dividends can be the clean option if the company has profits.

If your company makes a profit, it pays company tax first (often 25% for small business companies, if eligible). What’s left becomes retained profits and can be paid to shareholders as a fully franked dividend.

Here’s the simple idea.

Company earns profit, pays tax, then pays you a cash dividend. Because the company already paid tax on that profit, the dividend can come with a franking credit attached.

In your personal tax return, you don’t just report the cash you received. You report the dividend plus the franking credit (the “grossed up” amount). Then the franking credit is used to reduce the tax you pay personally. This is how you remove the double tax effect on company profits.

Fully franked dividends and franking credits are powerful, but they need to be done properly. Dividend minutes and resolutions matter.

If you want to know whether franked dividends make sense for your situation, contact our team and we’ll walk you through the best way to drawdown cash from your company.

07/04/2026

Got a company? You can’t just transfer money out like it’s your personal account.

If you run a Pty Ltd, there are 3 common ways to pay yourself:

1. Wages (salary)
-Shows in payroll
-Company withholds PAYG taxes
-Super is required

2. Dividends (profits paid to you)
-Paid from after-tax company profits
-No super on dividends
-You include it in your personal tax return
-You may get franking credits (tax the company already paid)

3. Loan from the company
-Risky if not set up properly
-Can trigger Division 7A and create extra tax + penalties

The right option depends on your income, goals, and cashflow.

Need help setting this up properly? Contact our team or book a consultation.

We’ll make sure you’re paying yourself the right way and staying ATO-compliant.

06/04/2026

High fuel costs are affecting more than just day-to-day expenses.

They are also putting pressure on business cash flow.

The ATO has announced temporary support for eligible businesses until 30 June 2026.
This may include flexible payment plans, possible GIC remission, penalty relief, and support to vary PAYG instalments where income has reduced.

If your business is feeling the pressure, early action matters.

Contact our team if you need help reviewing your options.

02/04/2026

If you are setting up a company purely to cap tax at 25%, you might be missing how it actually works.⁠
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A company can be powerful, but not because you magically pay 25% overall.⁠
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What matters is control and flexibility over how profits are taken out.⁠
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Here is the simple idea:⁠
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1. The business earns income and pays expenses to land on a net profit⁠
2. You can choose to pay yourself a wage, which is deductible to the company⁠
3. The company then pays tax on what is left at the company tax rate, and the after tax amount can stay inside the company as retained profit⁠
4. Your wage is taxed in your personal return at your marginal tax rates⁠
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Why this matters for business owners?⁠
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Keeping some profits in the company can help fund working capital, growth, new stock, equipment, or future investment plans, without pulling every dollar into your personal name.⁠
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The key is getting the numbers right, because wages, dividends, and what you leave inside the company all have different tax outcomes and compliance rules.⁠

Disclaimer:

“Profit retention” within a company structure may not be permitted for certain income-generating activities. You should consult your accountant for advice tailored to your specific circumstances.
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If you’re unsure whether a company structure is right for you or how to pay yourself in the most tax-effective way, get in touch with our team for personalised guidance.

27/03/2026

If you earn more, you do not suddenly pay one flat tax rate on your whole income.

Here’s what marginal tax rate actually means in Australia:

Your income is split into brackets (layers)
Each bracket is taxed at its own rate
Only the income inside the top bracket gets taxed at the top rate

Example:
If you earn over $190,000, only the amount above $190,000 is taxed at 45 percent (plus Medicare levy). The income below that is taxed across the lower brackets.

Why this matters:

It helps you understand your real average tax rate
It stops you from avoiding pay rises because you think you’ll be worse off
It helps business owners plan wages, drawings, and tax outcomes properly

Want us to estimate your actual tax rate and show you what to set aside each pay cycle? Contact our team and we’ll run the numbers.

Address

4. 09D, 5 Celebration Drive
Bella Vista, NSW
2153

Opening Hours

Monday	8:30am - 5pm
Tuesday	8:30am - 5pm
Wednesday	8:30am - 5pm
Thursday	8:30am - 5pm
Friday	8:30am - 5pm

Website

http://www.emcares.com.au/, https://emcares.com.au/appointment-page/

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