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Tuesday 9:30am - 1pm Wednesday 9:30am - 5pm Friday 9:30am - 5pm

Wistax, Suite 40, Level 2, 23 Narabang Way Belrose, Belrose (2026)

28/08/2026

You've agreed on a price, signed the contract, and settlement is approaching but have you actually checked whether you're eligible for the margin scheme? Or are you assuming? 🏠

The margin scheme can mean the difference between GST on the full sale price and GST on a much smaller margin, sometimes tens of thousands of dollars. But a lower GST outcome doesn't make a property automatically eligible. Eligibility must be established from the facts, acquisition history, and documentation, before you sign.

✅ The margin scheme calculates GST on the margin (sale price minus acquisition amount), not 1/11 of the total sale price, potentially saving significant tax.
✅ Eligibility isn't automatic: check if the supply is taxable, how you acquired the property, and whether the previous GST treatment supports your position.
✅ You need a written agreement between seller and purchaser that the margin scheme applies, before settlement. Don't leave this until the settlement table.
✅ For GST at settlement, the withholding rate under the margin scheme is generally 7% of the contract price, make sure everyone is working from the same assumptions.
✅ Don't just focus on the GST saving, an incorrect election can create a much larger compliance and cash-flow problem.

A developer who prices a project based on margin scheme assumptions, only to discover the acquisition history doesn't support it, faces a serious problem. Pricing, cash flow, and purchaser withholding all shift. That's why we recommend treating margin scheme eligibility as a pre-contract decision, not an accounting adjustment made after the sale.

👉 Planning to sell, subdivide, or develop property? Get your GST position reviewed before the contract is signed. Read the full guide on our blog to protect your settlement.

26/08/2026

You've found the perfect overseas supplier, the price is right, and the shipment is on its way but have you actually calculated the real landed cost? 🤔

Importing goods can open doors for your Australian business, but GST on imports is where many small businesses trip up. It's not as simple as 10% of your supplier's invoice, and getting it wrong can mean cash-flow pressure, incorrect BAS reporting, and unnecessary headaches.

✅ GST is calculated on the value of the taxable importation—customs value + freight + insurance + duty + applicable w**e tax—not just the supplier invoice.
✅ The $1,000 threshold changes everything: under $1,000, GST is often collected at checkout by the overseas seller; over $1,000, it's handled at the border. Don't claim the same GST twice.
✅ Keep your import declaration and customs assessment, these are your evidence for input tax credits.
✅ Don't forget 2026 import processing and biosecurity charges, they add to your real landed cost.
✅ Consider the Deferred GST Scheme if you import regularly, it can improve your working capital position.

A small mistake on one shipment might not seem significant. But repeated errors across multiple imports can cost thousands and create reconciliation nightmares. The lesson is simple: good import accounting protects your cash flow and your profit margins, not just your compliance.

👉 Before your next shipment lands, read the full guide on our blog to get your GST on imports right, from the container to the BAS.

21/08/2026

🌏 Exporting Goods? You Could Be Missing Out on GST Credits

Selling to overseas customers can create great opportunities for Australian businesses but managing the GST side correctly is just as important.

A common misconception is that a GST-free export means there is no GST benefit to claim. In reality, qualifying exports are generally reported as GST-free sales on your BAS, while eligible GST credits from business purchases may still be claimed through the normal BAS process.

In our latest blog, we break down:
✔️ How GST-free exports work
✔️ The timing requirements for exported goods
✔️ What documents you should keep as evidence
✔️ How to claim eligible GST credits through your BAS
✔️ Common export GST mistakes to avoid
✔️ The difference between GST refunds and customs duty drawbacks
✔️ How better GST record-keeping can support your cash flow

If you're exporting products from Australia, don't wait until BAS time to discover that your records are incomplete.

👉 Read the full guide and learn how to manage your export GST obligations with greater confidence.

Export confidently. Keep the evidence. Get the GST treatment right.

14/08/2026

Company Tax Planning: Don’t Wait Until EOFY 💼💰

For many Australian business owners, tax planning starts when the financial year is almost over. But by then, some of the most important decisions may already have been made.

Company tax planning is about more than finding deductions. It’s about understanding your tax position early, protecting cash flow, staying compliant and making better business decisions throughout the year.

In our latest WISTAX blog, we explore:
✔️ How company tax planning can support cash flow
✔️ Understanding the 25% vs 30% company tax rates
✔️ Reviewing deductions and asset purchases
✔️ Why cash flow matters more than simply reducing tax
✔️ Planning for payroll and super obligations
✔️ Managing company profits and distributions
✔️ Why tax planning should happen throughout the year
✔️ What business owners should review before EOFY

With **Payday Super now in effect from 1 July 2026**, payroll and super obligations are also becoming an increasingly important part of business cash-flow planning.

The goal isn't to pay the least tax possible. It's to make the right business decisions at the right time, with your tax position and cash flow in mind.

👉 Read the full blog to learn how a proactive company tax planning strategy can help your business stay prepared and grow with confidence.

13/08/2026

Turning 40 can be a good time to take a closer look at your superannuation but there’s no single number that applies to everyone.

A commonly referenced benchmark is around $178,000 in super by age 40, while another rule of thumb suggests having around three times your annual salary. But your ideal retirement position depends on your income, lifestyle, retirement age, contributions and other assets.

If you’re below the benchmark, don’t panic, use it as a checkpoint. Your 40s can still be an important opportunity to strengthen your retirement position.

In our latest WISTAX blog, we look at:
✔️ How much super Australians typically have around 40
✔️ Why your personal target may be different
✔️ Salary sacrifice and contribution strategies
✔️ Carry-forward concessional contributions
✔️ What to check in your super fund
✔️ How to approach catching up if you're behind
✔️ Important tax considerations before making larger contributions

Your super balance at 40 matters, but the strategy you put in place now may matter even more.

👉 Read the full guide to understand where you stand and what steps you could consider next.

07/08/2026

Tax Agent vs Accountant: Who Should You Trust With Your Taxes? 🤔💰

Need help with your tax return, BAS, tax advice, or an ATO matter? You might assume an accountant is automatically the right person to call but there’s an important distinction to understand.

An accountant can help with financial reporting, budgeting, cash flow, business planning and more. A registered tax agent, on the other hand, is authorised to provide regulated tax agent services within their registration scope.

For Australian individuals, landlords and small businesses, knowing the difference can help you choose the right professional and avoid unnecessary costs or compliance issues.

Before engaging someone for tax services, ask:
✅ Are they registered with the Tax Practitioners Board (TPB)?
✅ Do they have experience with your specific situation?
✅ What services are included in their fees?
✅ Can they assist if the ATO contacts you?
✅ Do you need accounting, tax support or both?

At WISTAX Belrose, we help individuals and businesses make sense of their accounting and tax obligations with practical, straightforward advice.

📖 Read the full blog to understand the difference between a tax agent, accountant and BAS agent and how to choose the right professional for your needs.

👉 Visit the WISTAX website to read the full guide.

05/08/2026

🚨 Could Your Business Trigger an ATO Audit Without Realising It?

Most ATO audits don't begin because of fraud they often start with simple inconsistencies.
❌ Income that doesn't match reported data
❌ Unusual deductions without supporting records
❌ BAS figures that don't reconcile
❌ Mixing business and personal expenses
❌ Poor bookkeeping or late lodgements

The good news? Many of these red flags are preventable with accurate record keeping and proactive tax planning.

At WISTAX, we help small businesses across Belrose, the Northern Beaches, and Sydney stay compliant, organised, and prepared so if the ATO ever asks questions, your records are ready to provide the answers.

📖 Read our latest blog to discover the 8 common ATO audit triggers every small business owner should know and learn practical steps to reduce your compliance risk.

📞 Need help reviewing your bookkeeping or tax records? Our experienced accountants are here to help you stay one step ahead.

24/07/2026

Planning your retirement? More control over your super could mean more opportunities but also more responsibility.

A Self-Managed Super Fund (SMSF) gives you the flexibility to make your own investment decisions, whether that's shares, commercial property, ETFs, or other approved investments. But with that freedom comes legal obligations, ongoing compliance, and trustee responsibilities.

Before setting up an SMSF, it's worth asking:
✔ Is it the right fit for your retirement goals?
✔ Are you prepared to manage the compliance requirements?
✔ Will the benefits outweigh the ongoing administration?

An SMSF isn't the right choice for everyone, but with the right advice, it can become a powerful part of your long-term wealth and retirement strategy.

At WISTAX Belrose Northern Beaches, we help Australians understand their options, navigate SMSF compliance, and make informed decisions with confidence.

Read our latest blog to learn:
• What an SMSF is and how it works
• The benefits and responsibilities of being a trustee
• Common mistakes first-time trustees should avoid
• Whether an SMSF could be the right choice for you

📖 Read the full blog on our website or contact WISTAX to discuss your retirement strategy with our experienced team.

19/07/2026

🌏 Thinking about expanding your business overseas?

Winning international clients is exciting, but without the right tax strategy, global growth can bring unexpected tax obligations and costly compliance issues.

Our latest blog explains why International Tax Planning should be part of your business strategy before you expand into overseas markets.

Here's what you'll learn:
• Why Australian businesses may still need to report worldwide income.
• The four key tax questions to consider before expanding internationally.
• How tax treaties can help reduce double taxation.
• Why reviewing your business structure early can save time and money later.
• A practical international tax planning checklist for businesses going global.
• How proactive planning can protect your cash flow, improve compliance, and support sustainable growth.

Expanding internationally is about more than finding new customers it's about building a tax-efficient foundation that supports your long-term success.

📖 Read the full blog to learn how international tax planning can help your business grow globally with confidence.

👉 Visit our blog today.

15/07/2026

How much tax does a family trust actually pay? 🤔

Many business owners assume there's one fixed Trust Tax Rate in Australia. The reality is far more complex. A family trust doesn't have a single tax rate, the outcome depends on how the trust is managed, who receives the income, and whether the correct documentation is completed before 30 June.

Our latest blog explains what every trustee should know to avoid costly mistakes and make informed tax planning decisions.

Key takeaways:
• There is no single trust tax rate for discretionary or family trusts.
• Trust income generally flows through to beneficiaries, who pay tax based on their own tax position.
• Missing trustee resolutions or incorrect documentation can result in the trustee being taxed at the highest marginal tax rate.
• Effective trust planning goes beyond tax savings, it also supports asset protection, succession planning, and long-term wealth creation.
• Annual trust reviews help ensure your trust structure remains compliant and aligned with your family's financial goals.

Good trust planning isn't about chasing the lowest tax bill, it's about making smart decisions that protect your wealth while staying compliant with Australian tax law.

📖 Read the full blog to learn how family trusts are taxed and what you should review before 30 June.

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