Ruddicks Chartered Accountants

31/08/2026

If you're thinking about purchasing or leasing a vehicle for your business in the new financial year, it's worth understanding the updated car thresholds that apply from 1 July 2026.

While these limits may seem technical, they can have a practical impact on the amount you can claim for tax depreciation deductions, the GST credits that are available, and whether luxury car tax (LCT) could apply.

Knowing how these rules work before signing a contract can help you make a more informed decision and potentially improve your overall tax and cash flow position. More information below.

If you're thinking about purchasing or leasing a vehicle for your business in the new financial year, it's worth understanding the updated car thresholds that apply from 1 July 2026. While these limits may seem technical, they can have a practical impact on the amount you can claim for tax depreciat...

28/08/2026

The High Court has recently handed down an important decision that will impact many private business groups using discretionary trusts and corporate beneficiaries.

To learn more on the case and why it matters, visit our website below.

The High Court has recently handed down an important decision that will impact many private business groups using discretionary trusts and corporate beneficiaries.

25/08/2026

With the start of the 2026–27 financial year, SMSF trustees should take a proactive approach to ensure funds remain compliant and well positioned.

In the link below is a concise checklist of the key legislative changes, compliance deadlines and practical steps trustees should prioritise.

https://ruddicks.com.au/advice/get-ready-for-2026-27-practical-steps-smsf-trustees-must-take-now

24/08/2026

For a number of years, Ruddicks has sponsored a prize at the University of Tasmania.

The prize is for the highest achievement in first year accounting by a student at the Launceston Campus.

This year the Ruddicks Prize for Accounting was awarded to our own Clair Russell, pictured below with Marshall Pooley.

Well Done Clair! 👏🏻

21/08/2026

The Tax Ombudsman has reported a dramatic 127% increase in complaints about the ATO this financial year (to 30 April 2026), with nearly 3,000 complaints received in the first ten months.

Debt collection, penalties, and tax debt interest charges have dominated the issues raised.

Tax Ombudsman Ruth Owen has linked the sharp rise directly to the ATO’s intensified focus on recovering outstanding debts amid tighter economic conditions. Many SME owners and individuals are feeling the pressure from cash flow challenges, rising costs, and stricter ATO enforcement.

The end of the financial year is fast approaching. For self-managed superannuation The Tax Ombudsman has reported a dramatic 127% increase in complaints about the ATO this financial year (to 30 April 2026), with nearly 3,000 complaints received in the first ten months. Debt collection, penalties, an...

18/08/2026

The ATO is sharpening its focus on how taxpayers generating income from personal services deal with that income for tax purposes. In a recent Spotlight bulletin, Small Business Assistant Commissioner Tony Poulakis highlighted the release of Practical Compliance Guideline PCG 2025/5.

This guideline clarifies the ATO’s compliance approach to the “alienation” of personal services income (PSI) — essentially, arrangements which involve routing income earned through your personal skills and efforts via a company or trust, rather than receiving it directly.

To read more, visit our website below.

The ATO is sharpening its focus on how taxpayers generating income from personal services deal with that income for tax purposes. In a recent Spotlight bulletin, Small Business Assistant Commissioner Tony Poulakis highlighted the release of Practical Compliance Guideline PCG 2025/5.

13/08/2026

Since the Federal Treasurer handed down the 2026-27 Federal Budget on 12 May 2026 there has been a significant amount of commentary on some of the more controversial proposals, including the decision to replace the Capital Gains Tax (CGT) discount with an indexation system and impose a 30% minimum tax rate on discretionary trusts.

Since our latest update in this area, the Government has announced some changes to these proposals, as well as some other areas of the tax system that weren’t initially impacted by the Budget.

You can read more below.

https://ruddicks.com.au/advice/updates-to-budget-measures-and-new-developments

01/07/2026

Celebrating 40 Years of Ruddicks! 🎉

Today marks an incredible milestone as Ruddicks celebrates 40 years in business.
On 1 July 1986, Bob Ruddick opened the doors to the firm. Four decades later, that vision has grown into a trusted firm serving generations of clients.

While much has changed over the past 40 years, our commitment to innovation, professional excellence, and client-focused service has remained constant. We're proud of the reputation we've built and grateful to our clients, team members, and community for being part of our journey.

Thank you to everyone who has been part of our first 40 years. Here's to the next 40! 🙌

19/06/2026

Last Tuesday, Ruddicks had the pleasure of attending the Launceston College Career Expo!

The Launceston College Career Expo, officially known as the LC Futures Expo, is a major annual event designed to help students and families explore future education, training, and employment pathways. It connects students directly with universities, TAFE providers, apprenticeship agencies, and industry professionals.

Thank you to Stella & Brodie (pictured) and Nick for attending the expo and sharing their knowledge with the students!

13/05/2026

Last night's Federal Budget 2026-27 delivered a significant overhaul of Australia's tax system, fundamentally reshaping how middle market businesses invest, structure and grow.

Here are some of the key changes:
- 50% CGT discount abolished, replaced with an inflation-based model and a minimum 30% CGT from 1 July 2027.
- A new minimum 30% tax on discretionary trust distributions from 1 July 2028.
- Negative gearing limited to new housing from 1 July 2027, with existing properties grandfathered.
- Instant asset write-off of $20,000 for small businesses made permanent.
- FBT exemptions for EVs to be significantly phased out.

This Budget represents a clear break from past tax settings, with potentially wide-ranging implications for how businesses operate and grow and family wealth is deployed and accumulated.

While there is time before major changes come into effect, it is critical that you act soon to understand how you may need to adapt to the new systems that are impending.

As always, we are here to help wade through the detail as it evolves and to optimise your business and personal outcomes.

To see an overview or full breakdown of last night's Budget and what that means for you, visit our website below.

The Federal Treasurer, Dr Jim Chalmers, handed down the 2026–27 Federal Budget at 7:30pm (AEST) on 12 May 2026.