5 Gates Consulting Pty Ltd

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Melbourne, VIC
5 Gates Consulting Pty Ltd

We take care of your bookkeeping, payroll, BAS, IAS and super so you can focus on growing your business. Need better systems?

We help automate and streamline your processes too.

21/07/2026

Thousands of Age Pension Recipients Could Be Missing Their Tax Return Obligation

Many people believe that receiving the Age Pension means an Australian income tax return is no longer required. While this is true for many retirees, it is not true for everyone.

The requirement to lodge a tax return depends on a person's total taxable income, not simply whether an Age Pension is received. Income from part-time work, investments, rental properties, superannuation, or capital gains can all affect whether a tax return must be lodged.

Understanding these rules can help avoid unexpected tax bills, missed refunds, and unnecessary contact from the Australian Taxation Office (ATO).

If you want to have a quick understanding about the Trust Tax for Small Business, please view the PDF attached.

You can read the whole article here:
https://5gatesconsulting.com.au/thousands-of-age-pension-recipients-could-be-missing-their-tax-return-obligation/

15/07/2026

NEW TRUST TAX PROPOSAL COULD MEAN HIGHER TAX BILLS FOR THOUSANDS OF AUSTRALIAN FAMILY BUSINESSES

Owning a small business often means balancing rising costs, managing cash flow, and keeping up with changing tax rules. Even a small change to the tax system can affect profits, business planning, and future investment decisions.

A proposed change to Australia's trust taxation rules has recently attracted significant attention because it could increase the amount of income tax paid by many family-owned businesses. While the proposal has not yet become law, it has already created uncertainty for business owners who operate through a discretionary trust.

If you want to have a quick understanding about the Trust Tax for Small Business, please view the PDF attached.

You can read the whole article here:
https://5gatesconsulting.com.au/new-trust-tax-proposal-could-mean-higher-tax-bills-for-thousands-of-australian-family-businesses/

14/07/2026

Turning 60 Can Make Super Tax-Free, But Only If the Rules Are Met

Saving for retirement is one of the biggest financial goals for many people. While growing a superannuation balance is important, understanding how super is taxed can make an even bigger difference during retirement.

In Australia, turning 60 is a significant milestone because it changes the way many superannuation benefits are taxed. For most people, super withdrawals become tax-free after age 60, provided certain conditions are met.

However, not every super payment automatically becomes tax-free. The type of super fund, how the money is withdrawn, and a person's retirement status can all affect the tax outcome.

If you want to have a quick understanding about the Superannuation, please view the PDF attached.

You can read the whole article here:
https://5gatesconsulting.com.au/turning-60-can-make-super-tax-free-but-only-if-the-rules-are-met/

10/07/2026

Accessing Super Before Age 60 Can Lead to Unexpected Tax

Superannuation is designed to help people save for retirement. In most cases, super cannot be accessed until retirement or another approved event. This helps preserve retirement savings for later in life.

However, there are situations where a person may be allowed to access super before turning 60. While early access is possible, the tax treatment is very different from super withdrawals after age 60. Understanding the rules before making an early withdrawal can help avoid unexpected tax and protect long-term retirement savings.

If you want to have a quick understanding about the Superannuation, please view the PDF attached.

You can read the whole article here:
https://5gatesconsulting.com.au/accessing-super-before-age-60-can-lead-to-unexpected-tax/

09/07/2026

The June Quarterly BAS deadline is approaching. Is your BAS reporting ready for 28 July?

Many business owners leave BAS until the last minute, only to discover unexpected GST liabilities and missing records.

Our bookkeeping and BAS preparation services help keep your records accurate, your reporting compliant, and your business running smoothly.

Stay ahead of your obligations and avoid unnecessary stress.

Send us a message to discuss your BAS and bookkeeping needs.
📞 +61 479 152 252
📧 [email protected]

09/07/2026

The ATO Just Increased Late Tax Return Penalties to $1,820

Lodging a tax return on time is one of the most important responsibilities for Australian taxpayers. Missing the deadline can lead to penalties, even when little or no tax is payable.

From 1 July 2026, the Australian Taxation Office (ATO) increased the financial penalty for late lodgement. As a result, taxpayers who continue to delay lodging a tax return, Business Activity Statement (BAS) or other required tax documents may face larger fines than in previous years. Understanding how the penalty works can help people avoid unnecessary costs.

If you want to have a quick understanding about the ATO Late Filing Penalties, please view the PDF attached.

You can read the whole article here:
https://5gatesconsulting.com.au/the-ato-just-increased-late-tax-return-penalties-to-1820/

08/07/2026

New Holiday Home Tax Rules from 1 July 2026 Explained

Many Australians own a holiday home that is rented to guests for part of the year and used privately at other times. For many years, owners could usually claim tax deductions for expenses as long as the property was genuinely available for rent, even if it remained vacant for long periods.

From 1 July 2026, the Australian Taxation Office (ATO) introduced new guidance that changes how holiday home tax deductions are assessed. The new approach focuses on whether the property is mainly held to earn rental income, rather than simply being advertised for rent.

For many holiday home owners, these changes could significantly reduce the tax deductions available when preparing an income tax return.

If you want to have a quick understanding about the Holiday Home Tax, please view the PDF attached.

You can read the whole article here:
https://5gatesconsulting.com.au/new-holiday-home-tax-rules-from-1-july-2026-explained/

07/07/2026

Why a Gas Export Tax Is Back on the Agenda and Why It Matters to Australians

Australia is one of the world's largest exporters of natural gas. At the same time, many Australians continue to face high electricity and gas prices. That has led to an important question: if Australia exports so much gas, why are energy costs still high, and is the country receiving enough tax revenue from its natural resources?

These questions are now being examined through a Senate inquiry into Australia's gas taxation system.

If you want to have a quick understanding about the Gas Export Tax, please view the PDF attached.

You can read the whole article here:
https://5gatesconsulting.com.au/why-a-gas-export-tax-is-back-on-the-agenda-and-why-it-matters-to-australians/

Address

51 Springleaf Road
Melbourne, VIC
3029

Telephone

+61413024026

Website

https://5gatesconsulting.com.au/

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