Quantify Accounting

29/06/2026

29/06/2026

Super contribution cap increases and planning opportunities.

29/06/2026

July 1 is almost here – Is your business ready?

The new financial year brings some significant changes that could affect your business, employees and tax planning.

Some of the biggest changes include:
✅ Payday Super
✅ Higher minimum wages
✅ Increased super contribution caps
✅ New AML/CTF obligations for accountants, lawyers and real estate agents
✅ Changes to tax deductions
✅ ASIC fee increases
✅ New SMS sender ID rules to help combat scams

Some proposed tax measures, including a permanent $20,000 Instant Asset Write-Off and the return of Loss Carry-Back, are still subject to legislation.

The new financial year is the perfect time to review your business systems and ensure you're compliant while taking advantage of available tax opportunities.

If you're unsure how these changes affect your business, contact Quantify Accounting Solutions. We're here to help you stay compliant and minimise your tax.

📞 0428 777 176
🌐 www.quantifyaccounting.com.au

27/05/2026

Here is a practical summary of the new Payday Super rules for Australian employers.

What is changing?

From 1 July 2026, employers must pay employees’ superannuation guarantee (SG) at the same time as wages are paid, rather than quarterly.

Currently, employers can pay SG quarterly (28 days after quarter end). Under the new system, super contributions must generally reach the employee’s super fund within 7 business days of payday.

Key Rules
1. Super must be paid each payday

If wages are paid:

weekly → super paid weekly
fortnightly → super paid fortnightly
monthly → super paid monthly

This applies to most employers.

2. Payments must reach the fund quickly

Super contributions and reporting data must generally be received by the super fund within:

7 business days of payday

There are limited exceptions:

new employees or changed funds generally have 20 business days for the first contribution.
3. SG rate will be 12%

From 1 July 2025 the SG rate is already 12%, and Payday Super continues using this rate.

4. “Qualifying Earnings” replaces OTE terminology

The legislation introduces a new concept called Qualifying Earnings (QE).

In practice, QE is expected to closely mirror current:

Ordinary Time Earnings (OTE)
rules.

QE generally includes:

normal earnings
salary sacrifice amounts
certain contractor payments caught under SG rules.
5. Annual Maximum Contribution Base

The maximum contribution base (MCB) will move from a quarterly limit to an annual limit.

This mainly affects higher-income employees.

Major Practical Impacts for Businesses
Cash flow pressure

Businesses lose the benefit of holding super cash until quarter end.

This will particularly affect:

labour-heavy businesses
seasonal businesses
employers already struggling with cash flow.
Payroll systems must be updated

Businesses may need to:

update payroll software
automate super clearing
improve onboarding processes
ensure fund details are correct
monitor rejected payments quickly.
ATO monitoring will become much tighter

The ATO will effectively be able to compare:

STP wage reporting
against
super fund receipt data

almost in real time.

Late or missing super will likely become much easier for the ATO to detect.

SBSCH Closing

The ATO Small Business Superannuation Clearing House (SBSCH) will close from 1 July 2026 for existing users.

Small businesses using SBSCH should start planning alternative systems now.

Penalties & Compliance Risks

Late super can trigger:

Super Guarantee Charge (SGC)
penalties
interest
loss of tax deductions
possible director penalty exposure in serious cases.

Because super becomes a payroll-by-payroll obligation, employers with poor systems or cash flow may face increased compliance risk.

What Employers Should Do Now

Recommended preparation steps:

Review payroll software compatibility
Check clearing house arrangements
Improve onboarding procedures
Tighten payroll timing controls
Review cash flow forecasting
Consider paying super with payroll now as a trial run
Educate clients/staff before 1 July 2026.
Likely Accounting Industry Impact

For accountants/bookkeepers this will probably mean:

more payroll involvement
more frequent processing
greater compliance monitoring
increased advisory around cash flow
more ATO debt issues for struggling employers

It may also significantly reduce historical unpaid super problems over time.

The official ATO Payday Super page is here:
ATO Payday Super Information

01/04/2026

🚨 Behind on Your Tax? It’s Not Too Late to Fix It

If you’ve fallen behind on your tax returns or BAS lodgements, you’re not alone — and more importantly, it’s fixable. Getting up to date with the ATO can bring immediate and long-term benefits.

✅ 1. Stop the Stress and Uncertainty

Unlodged returns can hang over you for years. Getting up to date gives you clarity on where you stand and removes that constant worry.

💰 2. Reduce or Eliminate ATO Penalties

The ATO is often more lenient when you come forward voluntarily. In many cases, we can request remission of penalties and interest, especially if you engage early.

📊 3. Get Back in Control of Your Finances

Once your lodgements are current, you can properly understand your tax position, cash flow, and obligations — critical for both individuals and small businesses.

🏦 4. Access Finance Again

Banks and lenders often require up-to-date tax returns. Whether it’s a home loan or business finance, being compliant puts you back in the game.

🔒 5. Avoid ATO Enforcement Action

The longer things are left, the higher the risk of ATO action — including default assessments, garnishee notices, or director penalties. Acting early helps avoid escalation.

📅 6. Get Back on Track Moving Forward

Once everything is lodged, we can help set up manageable payment plans and systems so you stay compliant going forward.

👩‍💼 How We Help at Quantify Accounting

At Quantify Accounting Solutions, we specialise in helping clients who are behind — sometimes years behind — including:

Individual tax returns
Small business tax returns
BAS and GST lodgements
ATO debt negotiation & payment plans
Penalty and interest remission requests

We handle the process without judgment, step-by-step, and deal directly with the ATO on your behalf.

👉 Take the First Step

The hardest part is getting started — but once you do, the relief is immediate.

📩 Message us today or book a confidential chat
[email protected]
🌐 www.quantifyaccounting.com.au

01/04/2026

🚨 GST FRAUD = JAIL TIME (Real Case) 🚨

A man has just been sentenced to 1 year and 2 months in prison after trying to claim over $100,000 in fake GST refunds.

Here’s what happened 👇
❌ Lodged false BAS statements
❌ Claimed refunds for a business that wasn’t legitimate
❌ Used fake expenses to inflate claims

👉 BUT here’s the kicker…
💡 His bank detected unusually large deposits and alerted authorities

From there:
➡️ The ATO stepped in
➡️ Investigated the activity
➡️ Criminal charges followed

⚠️ What this means for you:

The ATO is now:
✔️ Data matching in real-time
✔️ Working closely with banks
✔️ Actively targeting GST fraud

This is NOT a grey area anymore.

💡 Simple rule:

If you can’t back it up with real business activity + proper records
👉 Don’t claim it.

👩‍💼 Need help getting it right?

If you're unsure about your BAS, GST, or records — we help clients stay compliant and avoid serious penalties.

📩 Message us or book a consult
🌐 www.quantifyaccounting.com.au

01/04/2026

ATO Warning for NFPs

The Australian Taxation Office is seeing non-charitable not-for-profits (NFPs) struggle to lodge their new annual self-review return, required from 1 July 2024.

🚨 Common Issues
Outdated details on the Australian Business Register (ABR)
Not set up in Online services for business
Missing or incorrect governing documents
Trouble accessing myID and Relationship Authorisation Manager (RAM)
⚠️ Key Requirements
NFPs must lodge annually to confirm income tax exemption
Any changes to details must be reported within 28 days
New associates may need to complete NAT 2943 form with proof
💡 ATO Tips to Avoid Problems
✅ Update ABR details before lodging
✅ Ensure access to Online services (via myID + RAM)
✅ Review governing documents for required clauses
✅ Prepare answers using the ATO question guide
✅ Have ABN + reference number ready if lodging by phone

👉 If setup issues persist, NFPs can lodge via the ATO phone service — but must pass identity checks.