Candid Books Accounting and Taxation Services

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Candid Books Accounting and Taxation Services

CPA Certified. Expert accounting and tax solutions for businesses and individuals. Contact us on 03 9997 8710 📞 Accounting & Bookkeeping services
Tax consultants

Accounting & Bookkeeping
Tax preparation & planning
Business advisory

Save time and money with our professional, personalized approach.

18/07/2026

What an amazing session we had at BNI Titan Networkers BNI Melbourne West / Geelong busting all the “FEDRAL BUDGET” myths and providing clarity to investors & business owners.

16/07/2026

Show time presentation busting all budget myths!

14/07/2026

50% CGT Discount available to investors!

07/07/2026

INTRA GROUP TRANSACTIONS

ATO wins big on related-party deductions

Commissioner of Taxation v S.N.A Group Pty Ltd [2026]:

The Full Federal Court just overturned a lower court ruling in favor of the ATO — “service fees” paid between related companies after a written agreement lapsed were held not to have been “incurred,” meaning they weren’t tax deductible.

🔑 Key takeaway: Two taxpayer companies couldn’t deduct intra-group payments for use of related-party trust assets because they couldn’t prove the inferred contracts actually existed.

⚖️ Why it matters: The Court ruled a contract needs objective evidence of mutual agreement — you can’t just infer one from what the people running the companies privately intended. The fees failed because there was no clear request for services, they were calculated retrospectively with changing amounts, and payments got mixed in with other inter-company transactions.

💡 The lesson for businesses: Without objective, contemporaneous evidence of a binding obligation, a payment might not count as “incurred” for deduction purposes — so document your intercompany arrangements before the money moves, not after.

Want me to turn this into an actual graphic/carousel for posting?

28/06/2026

CPA Member Recognition Ceremony!

It was fun to do this 360 degree video with the whole clan!

26/06/2026

Stepping onto the CPA stage is always an exhilarating experience. I recently attended the CPA Australia Member Recognition Ceremony and was thrilled to officially receive my CPA Public Practice Certificate.

This milestone means more to me than just a credential — it represents years of dedication and genuine commitment to growing as a finance professional.

More importantly it provided me all the tools to bridge the GAP between Advisory and Complaince to help our clients with right business decisions.
Whether it is forming tax effective stuctures or protecting their wealth, it is crucial for us to take a holistic approach and make timely decisions in our clients best interest.

CPA Australia has always fueled my passion to make a difference to our client’s life by achieving their goals in the shortest period of time.

It has also helped me shaping who I am as an accountant. It pushed me to think beyond the numbers and develop a deeper understanding of business, ethics, and client responsibility. The structured learning pathway provided me with the technical rigour and professional confidence to deliver the highest standard of service to my clients.

To everyone who supported me along this journey — family, mentors, colleagues — thank you. Your encouragement made every study session worthwhile.

ProudMoment

23/06/2026

Small business owners this is the time to restructure
✅ The 50% active asset CGT concession threshold is rising from $2M → $10M turnover
✅ All 4 existing small business CGT concessions remain intact
✅ Change is proposed from 1 July 2027
✅ Gains accrued before that date retain the current 50% discount rules

This is significant for business owners planning a sale, succession, or retirement.

Not yet legislated — but now’s the time to review your structure and plan ahead.

DM us or book a call to understand how this affects your situation.

CapitalGainsTax AccountingAustralia

21/06/2026

Locking in your property’s value before it’s too late could save you thousands at tax time. 🏠📈

If you’re planning to sell an investment property down the track, getting a formal valuation as at 1 July 2027 could be a smart move. Here’s why:

✅ Establishes a clear cost base for future Capital Gains Tax (CGT) calculations
✅ Can help separate gains made before and after a change in the property’s use (e.g. moving from main residence to investment, or vice versa)
✅ Provides documented evidence to support your position if the ATO ever reviews your return
✅ Gives you clarity now, rather than scrambling for records years down the line

Thinking about your investment property strategy? The team at Candid Books Accounting and Taxation Services can help you plan ahead:

📞 03 9997 8710
📧 [email protected]

CandidBooks PropertyTax RealEstateTips

20/06/2026

Did you know your charitable donations could reduce your taxable income? Here’s what you need to know. 💼

To claim a tax deduction, your donation must be made to an organisation registered as a Deductible Gift Recipient (DGR) — this status is granted by the Australian Taxation Office and confirms the organisation is eligible to receive tax-deductible gifts.

✅ Donations of $2 or more to a DGR-registered charity are generally tax-deductible
✅ Keep your receipt — it’s your proof for tax time
✅ Check an organisation’s DGR status on the ABN Lookup register before donating
✅ Deductions can only be claimed in the financial year the donation was made

Giving back is rewarding in more ways than one — generosity and savvy tax planning can go hand in hand. 🤝

Need help maximising your deductions or planning your tax this EOFY? Get in touch with the team at Candid Books Accounting and Taxation Services:

📞 03 9997 8710
📧 [email protected]

*This information is general in nature. Always consult a registered tax agent or accountant for advice on your individual circumstances.

Philanthropy GivingBack CandidBooks

18/06/2026

Busting Fedral Budget Myths! Part 2

Got flooded with questions after Part 1, so let’s bust three more big myths floating around!

MYTH 1: “Negative Gearing is GONE!”

BUSTED! ❌

Negative gearing is NOT abolished. Here’s what’s actually true:

✅ Existing properties (owned or under contract before Budget night) = fully protected, no change
✅ New builds = still fully negative geared, before AND after July 2027
⚠️ Only established properties bought from 13 May 2026 onwards have restrictions - and even then, losses aren’t lost, they’re just quarantined against rental income and carried forward

None of the above changes apply to your purchase in Self Managed Superannuation Funds!

Negative gearing isn’t dead. It’s just more targeted!

MYTH 2: “I’ll Have to Pay CGT Next Year Even If I Don’t Sell!”

BUSTED! ❌

This one causes a LOT of unnecessary panic!

CGT is only triggered when you actually SELL or dispose of an asset. No sale = no CGT event = nothing to pay!

The new CGT rules (inflation-based discount + minimum 30% tax) only apply to gains arising after 1 July 2027 - and even then, ONLY when you sell.

Holding your property? You owe nothing in CGT, this year, next year, or any year you don’t sell!

MYTH 3: “Trust Distributions Are Unaffected!”

BUSTED… partially! ⚠️

This is where it gets nuanced:

❌ Most trusts ARE affected by the negative gearing changes, the same way individuals, partnerships and companies are
✅ BUT widely held trusts (like most managed investment trusts) and superannuation funds, including SMSFs, are excluded

So if you’re investing through a family trust or discretionary trust, the new rules likely apply to you. If you’re investing through your super or a large managed fund, you’re in the clear!

THE BIG TAKEAWAY:

These changes are nuanced, not blanket bans. Your specific structure, purchase date, and property type all matter!

Don’t make property decisions based on headlines, get advice based on YOUR situation!

📞 03 9997 8710
📧 [email protected]

General advice only - book a consultation for advice specific to your situation

Address

305/111 Overton Road, Williams Landing
Melbourne, VIC
3027

Telephone

+61399978710

Website

https://www.candidbooks.com.au/

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