C Teunissen & Associates

C Teunissen & Associates Accounting Services C. These services are always provided in a friendly, courteous and consistent manner and with the utmost of confidentiality. At C.

Teunissen & Associates is a medium sized public CPA accountancy practice which has been successfully servicing and advising businesses since 1969. The practice is well positioned in the Norwood area and services and audits businesses from all regions of South Australia as well as interstate. Teunissen & Associates aim to provide clients with relevant, efficient and effective accountancy and audit

services which are professional, valuable and pro-active. Teunissen and Associates, our friendly staff are highly qualified and well trained and offer a full range of accounting services.

14/05/2026

2026 FEDERAL BUDGET:

The major tax-related measures announced in the Budget include:

50% CGT discount abolished — to be replaced with an inflation-adjusted indexation method from 1 July 2027
(subject to transitional arrangements) for all CGT assets held by individuals, trusts and partnerships for more than 12
months. An exception will apply for new builds of residential properties.

CGT minimum 30% rate — will apply on realised gains (including for pre-1985 assets) from 1 July 2027. Income
support payment recipients, including Age Pension recipients, will be exempt from the minimum tax.

Minimum 30% tax on discretionary trusts — from 1 July 2028 a minimum tax of 30% will apply to the taxable
income of discretionary trusts. However, it will not apply to other types of trusts, including fixed and widely held trusts,
complying super funds, special disability trusts, deceased estates and charitable trusts.

Negative gearing — to be limited to new builds from 1 July 2027. Residential properties currently owned at Budget
time (7:30 pm AEST 12 May 2026) will be excluded until they are sold.

A new $250 working Australians tax offset (WATO) will apply from 1 July 2027 to all eligible Australian workers
for their income derived from work.

Personal tax rates - the Budget confirmed the already-legislated reduction in the resident personal income tax rate
from 16% to 15% (from 1 July 2026) and to 14% (from 1 July 2027) for the taxable income bracket from $18,201 to
$45,000.

$1,000 standard deduction - confirmed for work-related expenses from the 2026-27 income year.

$20,000 instant asset write-off for small businesses - permanently extended.

Loss carry-back regime - to be reintroduced from 1 July 2026 for businesses with an aggregated annual global
turnover of less than $1 billion.

FBT exemption for EVs - the full FBT exemption for electric vehicles (EVs) will be phased out and replaced with a
temporary $75,000 threshold.

Loss refundability for small start-ups - from 1 July 2028 for start-up companies with aggregated annual turnover
of less than $10m that generate a tax loss in their first 2 years.

Venture capital tax incentives - the asset size caps will be increased from 1 July 2027.

R&D tax incentive - to be overhauled.

28/04/2026

Your guide to the ATO super
clearing house closure :-

If you’re a small business owner who’s been using the
ATO’s Small Business Superannuation Clearing
House (SBSCH) to pay your employees’ super, we’ve
got some news that might make you reach for another
coffee. The free service that’s been making your life
easier is closing down, and you’ll need to find an
alternative before July 2026.

The government has announced that the SBSCH will
be shutting down as part of the new "payday super"
reforms. Here are the key dates:

• 1 October 2025: no new businesses can register
for the SBSCH;

• 30 June 2026: last day existing users can use the
service; and

• 1 July 2026: the SBSCH closes completely.

The closure coincides with new legislation that will
require employers to pay super contributions at the
same time as wages (payday super), rather than using
the current quarterly system. Under these new rules,
super contributions must reach your employees’ funds
within seven days of each payday.

The ATO is pulling the plug because the SBSCH was
designed for the old quarterly super payment system,
and it simply doesn’t fit with the new payday super
world we’re heading into.

If you’re one of the over 200,000 small businesses
currently using the SBSCH, this change will impact you
in several ways:

• You’ll need to find a new solution before the June
2026 deadline.

• Costs might increase – the SBSCH is free to use,
but many alternative solutions charge fees.

• Timeframes will be tighter – under the new rules
from 1 July 2026, super contributions must reach
funds within seven days of payday.

• Your processes will change because you’ll need to
integrate super payments into every pay run.
If you’re already using payroll software for wages,
payroll software with built-in super payments might be
your easiest transition. Many popular accounting
packages now include super payment features that let
you pay contributions directly through the same
system you use for payroll. The beauty of these
integrated solutions is that once you’ve run payroll,
paying super can be as simple as clicking a button.
Most super funds also offer free clearing house
services to employers. These typically require you to
register as an employer with that fund, but then you
can manage contributions to multiple funds in one
place. The main trade-off is that you’ll need to use a
separate web portal and either upload data from your
payroll system or enter it manually.

There are also independent commercial providers.
These tend to offer more sophisticated features and
can handle high volumes of transactions. Commercial
providers often charge fees, but they typically offer
robust compliance features and reliable processing.

The ATO recommends starting your transition early –
don’t wait until 2026. This gives you time to test your
new process and iron out any issues before the
deadline.

28/04/2026

Time’s running out for small
business super clearing house
users:-

If you’re one of the thousands of small businesses
using the Small Business Superannuation Clearing
House (SBSCH), you need to act now. The service will
permanently close on 1 July 2026. From that date, the
SBSCH will no longer process payments or allow
access to historical records. The closure is part of the
government’s payday super reforms, which aim to
modernise how employers pay superannuation.

The ATO recommends making the January to March
2026 quarter your last quarter using the SBSCH,
giving you a buffer to establish your new process.
Your immediate priorities should be:
• Choosing your alternative payment method: Check
if your existing payroll software already includes
super payment functions. Many modern payroll
systems offer integrated superannuation payments
that meet SuperStream requirements.
Alternatively, you can use commercial clearing
houses or online payment services offered by
some large super funds.

• Downloading your records before 1 July 2026: This
is crucial, because once the service closes, your
transaction history and employee details will be
permanently inaccessible. You’ll need these
records for future audits and employee queries.

• Switching early to avoid problems: By transitioning
before the deadline, you’ll have an established
process in place and reduce the risk of late
payments for the April to June 2026 quarter.

The ATO’s SuperStream Product register lists certified
payroll software and service providers that can handle
your super payments. Many offer additional features
like automated calculations, compliance reporting and
integration with your existing accounting systems.
Large super funds also often provide online payment
portals, and commercial clearing houses offer similar
services to the SBSCH but with enhanced features
and ongoing support.

Choosing the right super payment solution depends on
your business size, payroll complexity and existing
systems. The transition also presents an opportunity to
review your entire payroll and super compliance
processes.

Merry Christmas from the Team at Teunissens 🎄
19/12/2025

Merry Christmas from the Team at Teunissens 🎄

18/11/2025

$20,000 instant asset write-off due
for extension to 30 June 2026:-

Are you a small business owner planning to invest in
new equipment or technology? The government is
planning to extend the $20,000 instant asset write-off
by a further 12 months until 30 June 2026.
This measure was announced by the Treasurer as an
election commitment on 4 April 2025 and is contained
in a recently introduced Bill, so It’s not yet law.
Once this Bill is passed, the $20,000 threshold will
apply until 30 June 2026. Without this amendment, the
threshold would have dropped back to the ongoing
legislated level of $1,000 from 1 July 2025.
The extension would apply to eligible depreciating
assets costing less than $20,000 each; eligible
amounts included in the second element of an asset’s
cost (cost additions); and general small business pools
(enabling full write-off where the pool balance is below
$20,000 at year end).
Small businesses that use the simplified depreciation
rules and have an aggregated turnover of less than
$10 million can continue to immediately deduct the
business portion of the cost of eligible assets first used
or installed ready for use by 30 June 2026. The writeoff
can apply to multiple assets, provided each
individual asset is under the $20,000 limit.

22/08/2025

HECS/HELP debt reduction Bill introduced :-

On 23 July, the Labor government introduced
legislation aimed at enacting its election promise to
reduce student debt by 20%. The Bill proposes to:
• provide a one-off 20% reduction to Higher
Education Loan Program (HELP) debts and certain
other student loans that are incurred on or before
1 June 2025;
• increase the minimum repayment threshold from
$54,435 in 2024–2025 to $67,000 in 2025–2026;
and
• introduce a marginal repayment system where
compulsory student loan repayments are
calculated only on income above the new $67,000
threshold rather than having it based on a
percentage of the repayment income.
This complements measures enacted in the last
Parliament which cap the level of indexation of student
loans to the lower amount of either the consumer price
index (CPI) or the wage price index (WPI). This is
designed to ensure that loans will never be indexed by
more than wages growth. Accordingly, the new
threshold of $67,000 will be indexed for 2026–2027
and following years, but will never be increased by a
rate exceeding wages growth.

24/06/2025

Working out your Working From Home expenses this tax time :-

To be eligible to claim working from home (WFH) expenses, you need to be genuinely working from home to fulfil your employment duties, not just checking emails or taking occasional calls. You must also incur additional running expenses because of your WFH arrangement. These additional costs can typically include energy expenses for heating, cooling and lighting, home and mobile internet or data, phone expenses, and stationery or office supplies.
When it comes to calculating your deductions, you can choose the “fixed rate method” or the “actual cost method”. For both methods, you’ll need records that accurately track your WFH hours. You can keep a diary or timesheets covering a representative four-week period showing your usual work pattern, or you can maintain a record of your entire year’s WFH hours. You’ll also need documentation showing you’ve incurred additional expenses, such as receipts and bills, and be able to demonstrate the proportion that relates to work.

Fixed rate method: This approach simplifies your calculations by applying a set rate for each hour you work from home. For the 2024–2025 income year, this rate is 70 cents per hour. To calculate your deduction, simply multiply your total WFH hours by 70 cents. Remember, if you choose this method, you can’t claim additional separate deductions for expenses already covered under the fixed rate method, such as stationery supplies.

Actual cost method: This approach requires you to keep detailed records of all additional costs incurred while working from home. You’ll need to track your WFH hours and maintain comprehensive records for all your WFH expenses.
It’s important to understand what you can’t claim when working from home. This includes items your employer might provide at the office, such as tea or coffee or other general household items. You also can’t make a claim for employer-provided laptops or mobile phones, or expenses which your employer has reimbursed.

26/03/2025

FEDERAL BUDGET 2025 SOME KEY POINTS :-

Personal tax rates cut from 1 July 2026 and 2027:
The Government has proposed to cut the personal income tax rate for the income threshold ($18,200 to $45,000) from 16% to 15% (from 1 July 2026) and 14% (from 1 July 2027).

Reduction of HELP debts:
The measure will reduce outstanding student debts by 20% before indexation is applied on 1 June 2025 (subject to the passage of legislation). The salary threshold for compulsory payments will also be raised from about $54,000 to $67,000, and rates of repayment will also be lowered for most graduates.

Energy bill rebate extended small business included:
The Government will extend its energy bill rebate until the end of 2025 by providing a further two instalments of $75 (for a total of an additional $150) for households and small businesses.

Medicare levy low-income thresholds for 2024–2025:
For the 2024–2025 income year, the Medicare levy low-income threshold for singles has been increased to $27,222 for 2024–2025 (up from $26,000 for 2023–2024). For couples with no children, the family income threshold is $45,907 (up from $43,846 for 2023–2024). The additional amount of threshold for each dependent child or student is $4,216 (up from $4,027).

Instant asset write-off: Bill still before Parliament:
One of the Government’s key tax measures that is currently still outstanding is the proposed extension of the instant asset write-off measures for 2024–2025, ie. ending on the 30th June 2025 - but this measure has not been extended past this date.

Note: This post is for informational purposes only and should not be taken as professional advice.

We would like to wish all of our clients a safe and Merry Christmas and New Years.A bit of promising news for those of y...
17/12/2024

We would like to wish all of our clients a safe and Merry Christmas and New Years.

A bit of promising news for those of you with HELP debts :-

Proposed changes to HELP loans could mean lower repayments in 2025
If you're one of the millions of Australians with a Higher Education Loan Program (HELP) debt, you might be wondering how the government's proposed changes to HELP loans could affect you. These changes are subject to the passage of legislation, but are proposed to take effect by 1 June 2025.
One of the most significant aspects of the proposed changes is a one-off 20% reduction in all HELP debts. This reduction would be automatically applied by the ATO before the annual indexation on 1 June 2025. For example, if you have a HELP balance of $27,600, you could expect a reduction of approximately $5,520 in your debt.
From 1 July 2025, the minimum income threshold for making compulsory HELP repayments is proposed to increase from $54,435 to $67,000. This means you’ll only start repaying your HELP debt once your income exceeds $67,000. The new repayments will be calculated only on the income above this threshold, but the rates will be higher compared to the current system. Here are the proposed new marginal repayment rates:
• income below $67,000: no repayment required;
• income between $67,001 and $124,999: 15 cents for each dollar over $67,000; and income above $125,000: $8,700, plus 17 cents for each dollar over $125,000.
Another crucial change is the proposed capping of the HELP indexation rate. Once the legislation is passed, the indexation rate will be the lower of either the consumer price index (CPI) or the wage price index (WPI). This adjustment will be backdated on all existing HELP, VET student loans, and other similar accounts from 1 June 2023. This means that if your HELP balance was indexed based on the CPI in 2023 and 2024, the ATO will adjust your account to reflect the lower indexation, potentially providing a refund if your balance falls below zero.

Address

52 Queen Street
Norwood, SA
5067

Website

Alerts

Be the first to know and let us send you an email when C Teunissen & Associates posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to C Teunissen & Associates:

Shortcuts

Share

Category