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When was the last time you reviewed your will?Recent proposed tax changes could affect how testamentary trusts created t...
13/07/2026

When was the last time you reviewed your will?

Recent proposed tax changes could affect how testamentary trusts created through a will are taxed in the future.

While the legislation has not yet been passed, it highlights the importance of having an estate plan that is flexible enough to adapt if the rules change.

Rather than locking your beneficiaries into one structure, a well-drafted will can give your executor the flexibility to establish the most appropriate trust based on the laws in place at the time.

Estate planning isn't just about distributing assets—it's about protecting your family and preserving your options.

If it's been a while since you reviewed your will, now is an ideal time to revisit your estate plan. See more information in our latest newsletter - https://rvn.com.au/news/

From 1 July 2026, employers will no longer pay super quarterly. Instead, super contributions must be paid every payday a...
07/07/2026

From 1 July 2026, employers will no longer pay super quarterly. Instead, super contributions must be paid every payday and received by your employees' super funds within 7 business days.

This means businesses should review their:

✔ Payroll software
✔ Super clearing house arrangements
✔ Cash flow planning

Late payments can trigger the Super Guarantee Charge, with interest and significant penalties applying.

If you're currently relying on the quarterly payment schedule to manage cash flow, now is the time to adjust your processes before the new rules take effect.

Need help preparing your business? Our team can help ensure you're ready before your first payroll under the new system.

https://rvn.com.au/news/

If you run a self-managed super fund (SMSF), there are important end-of-financial-year obligations that must be complete...
29/06/2026

If you run a self-managed super fund (SMSF), there are important end-of-financial-year obligations that must be completed by 30 June 2026. Missing key deadlines can lead to unnecessary tax consequences and compliance issues.

Before the financial year ends, make sure you:

✔️ Pay the minimum pension amount if your fund is paying an account-based pension or transition to retirement income stream.
✔️ Check that all contributions are within the current concessional and non-concessional contribution caps.
✔️ Ensure all SMSF assets are valued at market value as at 30 June.
✔️ Review your investment strategy to confirm it still reflects your fund's objectives and current investments.
✔️ Update member records and confirm any binding death benefit nominations are still valid.
✔️ Organise your records so your auditor has everything needed to complete the annual audit on time.

**Also important:** If any member's super balance is approaching or exceeds $3 million, now is the time to seek advice. The new Division 296 tax applies from 1 July 2026, and for SMSFs holding illiquid assets such as property, it may have significant implications.

With the 30 June deadline fast approaching, now is the time to make sure your SMSF is compliant. If you're unsure whether you've met your obligations, contact us today - we're here to help.

**Disclaimer For External Distribution Purposes**

The information contained in this publication is for general information purposes only, professional advice should be obtained before acting on any information contained herein. The receiver of this document accepts that this publication may only be distributed for the purposes previously stipulated and agreed upon at subscription. Neither the publishers nor the distributors can accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the contents of this publication.

EOFY is the perfect time to check your business isn't just busy—but profitable.With 30 June fast approaching, now is the...
24/06/2026

EOFY is the perfect time to check your business isn't just busy—but profitable.

With 30 June fast approaching, now is the ideal time to review your business's financial performance and identify opportunities before the new financial year begins.

Here are four key areas to focus on:

Gross Profit Margin
Has your margin dropped compared to last year or your budget? Rising costs, outdated pricing, or a shift to lower-margin work could all be impacting your profitability.

Cash Flow & Debtor Days
How quickly are customers paying their invoices? Increasing debtor days can put pressure on cash flow. Review overdue accounts, tighten your invoicing process, and check that supplier payments are under control too.

Revenue vs Forecast
Compare your year-to-date revenue against your original budget. If you're behind, identify why. If you're ahead, consider whether it's time to invest in the business before 30 June.

Tax Planning
Now is also the time to review bad debts, obsolete stock, unused assets, and whether bringing forward eligible purchases or prepayments could benefit your tax position. These decisions should always be discussed with your accountant.

Businesses that regularly monitor their numbers make better decisions than those that only look at them at tax time. A simple review now can help uncover issues early, improve cash flow, and set your business up for a stronger year ahead.

If you'd like help reviewing your business performance or planning before 30 June, get in touch with our team. We're here to help you finish the financial year with confidence.

Does your private company have a loan to you or a related party? Don't overlook Division 7A before 30 June.If your priva...
15/06/2026

Does your private company have a loan to you or a related party? Don't overlook Division 7A before 30 June.

If your private company has lent money to you, a family member, a trust, or another entity you control, Division 7A may apply. If these loans aren't managed correctly, the ATO can treat them as an unfranked dividend, adding the amount to your personal taxable income with no franking credits to reduce the tax payable.

To remain compliant, Division 7A loans generally need:
• A written loan agreement that meets ATO requirements.
• Interest charged at least at the ATO benchmark rate (8.77% for 2025–26).
• Repayment within the required term (typically 7 years unsecured or up to 25 years if secured by a registered mortgage).
• The agreement in place by the company's tax return lodgement date.

Remember, Division 7A doesn't just apply to formal loans. It can also cover personal expenses paid by the company or debts that are forgiven.

**Before 30 June, make sure you:**
✅ Have made the minimum yearly repayment on existing Division 7A loans.
✅ Review any new loans made during the year and ensure the required documentation is prepared.
✅ Seek advice if repayments may create cash flow issues, as there may be legitimate planning options available.

Getting Division 7A wrong can result in unexpected tax, penalties and interest, and it's an area the ATO monitors closely.

If you're unsure whether Division 7A applies to you, or you have a loan from your company, contact us before 30 June. We'll review your arrangements, ensure repayments are up to date, and help you avoid an unexpected tax bill.

Financial Fraud Through Coerced Directorships: A Hidden Form of Economic AbuseFinancial fraud perpetrated by abusive par...
26/05/2026

Financial Fraud Through Coerced Directorships: A Hidden Form of Economic Abuse

Financial fraud perpetrated by abusive partners and family members has emerged as a deeply damaging form of economic abuse - particularly when victims are appointed as company directors without their knowledge or consent.

How It Happens
An abusive partner may register their victim as a director using personal details, forged signatures, or by coercing them into signing paperwork without explanation. In some cases, the victim has no idea they've been listed as a director until official notices about debts or penalties arrive.

The Legal Consequences
Once registered, a director becomes legally responsible for the company's obligations - tax liabilities, unpaid wages, superannuation, and corporate debts. This includes Director Penalty Notices, which make directors personally liable for unpaid GST and PAYG withholding. For an unsuspecting victim, receiving a demand for tens or hundreds of thousands of dollars for activities they never authorised can be devastating.

The Broader Impact
Victims often face financial stress, litigation costs, damaged credit ratings, and in extreme cases, bankruptcy - outcomes that can persist long after the relationship ends. The emotional toll is equally profound, as individuals confront legal battles while processing the misuse of their identity.

This fraud also undermines corporate governance. When perpetrators exploit these systems, they erode trust and create loopholes that can be abused repeatedly.

What's Being Done
Policy proposals aim to strengthen consent requirements for director appointments and expand legal defences available to victims. For those affected, early recognition and professional support are crucial. Financial counsellors and legal advisers are increasingly alert to the signs of coerced directorships and other forms of economic abuse.

As awareness grows, so does the call for stronger safeguards to protect people from this hidden form of fraud.

Are You Accurately Reporting Cash Income? The ATO Is WatchingFor businesses in hospitality, trades and personal services...
20/05/2026

Are You Accurately Reporting Cash Income? The ATO Is Watching

For businesses in hospitality, trades and personal services, income often comes in as a mix of card and cash. As your accountant, our role isn't to alarm you - it's to help you understand the risks and make sure your business is protected.

Cash Is Still Income
Whether a customer pays by EFTPOS, transfer or cash, it must be recorded and reported. Where businesses run into trouble is when cash payments aren't entered into the system, are used to pay expenses informally, or simply aren't banked. Even without dishonest intent, inconsistent records create discrepancies - and over time, those discrepancies become visible.

Why Is This A Growing Risk?
Today's compliance environment is data-driven. Reported income is compared against industry benchmarks, supplier data and lifestyle indicators. Employees, competitors and customers also sometimes report suspected under-reporting. The consequences - reassessments, penalties, interest, and the stress of an audit - can be significant, even where there was no deliberate wrongdoing.

It's Not Just About Sales
Cash income issues can also include cash wages paid without PAYG withholding, super not processed correctly, contractors paid off the books, and personal expenses drawn from business takings. These create employment law and super exposure, not just tax risk.

Practical Steps
Record every sale regardless of payment type. Keep business and personal finances completely separate. Reconcile regularly - match sales records to bank deposits and merchant reports. And if something doesn't add up, get advice early.
Accurate reporting protects the value of your business, strengthens lender credibility, and gives you reliable data to make decisions. If you'd like to review your record-keeping or cash controls, let's have that conversation.

Our 2026-27 Federal Budget Special Edition Newsletter is here.Budget night delivered some significant changes - and we'v...
13/05/2026

Our 2026-27 Federal Budget Special Edition Newsletter is here.

Budget night delivered some significant changes - and we've broken down what they mean for you, your business, and your financial future.

In this edition, we cover:

✅ The $1,000 Instant Tax Deduction
✅ $250 Working Australians Tax Offset
✅ Changes to CGT, Negative Gearing & Trust Distributions
✅ Electric Vehicle FBT Exemption updates
✅ Superannuation changes from 1 July 2026
✅ Instant Asset Write-Off - now permanent
✅ R&D Tax Incentive changes & more

Whether you're a business owner, investor, or employee - there's something in this Budget that affects you.

👉 Read the full newsletter here: https://rvn.com.au/news/

Has Your Business Been Impacted by a Natural Disaster?Natural disasters can strike with very little warning, leaving bus...
12/05/2026

Has Your Business Been Impacted by a Natural Disaster?

Natural disasters can strike with very little warning, leaving business owners dealing with physical damage, lost income, disrupted operations, and enormous stress. If your business has been affected by a declared disaster, it is important to
know that help is available and that acting quickly can make a real difference to your recovery.

If your business has been affected by a natural disaster, please do not try to manage this alone. We can help you navigate the financial and compliance implications, identify what support you may be eligible for, and help you put together the documentation you need to access grants and government assistance.

https://rvn.com.au/news/

The end of financial year can sneak up on even the most organised business owners. With June 30 just around the corner, ...
06/05/2026

The end of financial year can sneak up on even the most organised business owners. With June 30 just around the corner, here's what to action before the year closes.

Review Your Financials
Review your profit and loss position year to date. Are there deductible expenses to bring forward, income to defer, or write-offs to claim - like bad debts or obsolete stock? If your business holds inventory, conduct a stocktake. Accurately valuing your stock at year-end can directly affect your taxable income.

Check Your Super Obligations
Super guarantee contributions for the quarter ending 30 June must be received by the employee's fund - not just processed - by the due date. Late payments aren't tax-deductible and can attract the SGC and additional penalties.
Also worth noting: Payday Super begins 1 July 2026, requiring employers to pay super at the same time as wages. If your payroll systems aren't ready, now is the time to sort it.

Consider Asset Purchases
If you've been weighing up a business asset or equipment purchase, bringing it forward to before 30 June could mean an immediate deduction or accelerated depreciation - depending on your circumstances. Chat with your accountant about what applies to you.

Review Your Structure & Agreements
Check whether your business structure is still working for you, and whether trust distributions, shareholder agreements, or director loan accounts need to be reviewed or documented before 30 June. Getting these right before year-end avoids costly corrections later.

A year-end planning meeting with your accountant is one of the best investments you can make. Come in before June 30 - while there's still time to act.

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