Hemisphere Accounting

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Pymble, NSW
Hemisphere Accounting

A boutique accounting practice in Sydney & London giving you personalised service and helping you bring your business into balance

Offering a tailor-made accounting service to small and medium sized businesses

17/07/2026

From 6 April 2026, UK rental income above £50,000 triggers a quarterly digital reporting obligation to HMRC under Making Tax Digital.

This is not an end-of-year filing. It is quarterly. And it applies based on your UK rental income, not where you live.

If you are an Australian-based investor with UK rental income near or above that threshold and you do not have a UK tax agent managing this, it needs attention now.

Penalties apply for late or missing submissions.

If you are unsure whether this applies to you, reach out.

https://buff.ly/aRu6NNG

16/07/2026

The Budget conversation will move on quickly. The changes will not.

Negative gearing. CGT indexation. Discretionary trust tax. Income tax cuts. Permanent instant asset write-off. Pre-CGT asset changes.

Most of these take effect from 1 July 2027. That feels like a long way away. It is not.

The clients who will be best positioned are the ones who understand their current structure now, not the ones who wait until legislation is finalised.

If you want to talk through what the 2026 Budget means for your specific situation, we are here.

https://buff.ly/24xjmXr

15/07/2026

Two measures worth knowing about if you run a start-up or invest in R&D.

1️⃣ From 1 July 2028, small start-ups in their first two years of operation can get a tax refund on losses, up to the value of FBT and withholding tax paid on employee wages. A practical measure for early-stage businesses burning cash before they are profitable.

2️⃣ The R&D Tax Incentive is also being reformed from 1 July 2028. The offset rate for core R&D expenditure is increasing, but the minimum spend to qualify rises from $20,000 to $50,000. Supporting R&D expenditure will no longer qualify.

If R&D is part of your business model, the net effect of these changes is worth understanding before 2028.

13/07/2026

The question we are hearing most this week.
Is property still worth investing in after these Budget changes?

The honest answer is: it depends on your situation, your structure, and what you are trying to achieve.

What has changed: the tax settings that made established property particularly attractive for high-income investors have been wound back.

What has not changed: property is still a legitimate long-term wealth-building asset.
New builds still attract full negative gearing and CGT concessions.
Small business CGT concessions are untouched.
Superannuation CGT treatment is unchanged.

The investors who will navigate this well are the ones who understand their current position, review their structure, and make decisions based on their own numbers.
Not headlines.

If you want to work through what the changes mean for your portfolio specifically, reach out.
https://buff.ly/24xjmXr

22/06/2026

If you or your employees have electric vehicles through salary packaging, the FBT rules are changing.

✔️ The full FBT exemption continues in its current form until 31 March 2027.

✔️ From 1 April 2027, EVs costing over $75,000 but under the luxury car tax threshold will receive a 25% FBT discount instead of a full exemption.

✔️ From 1 April 2029, all EVs under the luxury car tax threshold receive the 25% discount only.

✔️ EVs under $75,000 retain the full exemption for arrangements commencing before 1 April 2029.

✔️ Existing lease arrangements are not affected by these changes.

If you are considering entering a new EV arrangement, timing matters.

Get in touch to discuss your options.
https://buff.ly/24xjmXr

19/06/2026

Another win for business owners.

From 1 July 2026, companies with annual global turnover under $1 billion can permanently carry back a tax loss and offset it against tax paid in the prior two income years.

In practical terms, if your business has a difficult year, you can potentially get a refund of tax already paid rather than simply carrying the loss forward into an uncertain future.

✅ This applies to tax losses only, not capital losses, and is limited by your company's franking account balance.

For businesses managing cash flow through uncertain conditions, this is a meaningful and permanent measure.

Book your complimentary session with our team to start planning
https://buff.ly/24xjmXr

17/06/2026

This one is permanent. Finally.

The $20,000 instant asset write-off for small businesses has been extended year by year since 2015. From 1 July 2026 it becomes a permanent feature of the tax system.

If your business has an aggregated turnover under $10 million, you can claim an immediate deduction for any asset costing under $20,000. The threshold applies per asset, so multiple purchases under $20,000 each can all qualify in the same year.

No more uncertainty at budget time about whether the write-off will continue.

If you have been holding off on equipment or asset purchases, that uncertainty is now gone.

Want to have a look at how that affects your tax planning?
https://buff.ly/24xjmXr

16/06/2026

FBT lodgement is approaching.

For most businesses working with a tax agent, the deadline is 25 June.

By this stage, your position should be finalised. Not still being worked out.

If you haven’t yet:

• Reviewed vehicle use
• Confirmed employee benefits
• Checked car parking or reimbursements

Now is the time to do it.

Once lodged, fixing issues becomes more difficult.

A final review now gives you certainty before the deadline.

15/06/2026

Some good news from Budget night.

From 1 July 2026, the tax rate on income between $18,201 and $45,000 drops from 16% to 15%. It drops again to 14% from 1 July 2027.

📣 Also from 1 July 2026, workers can claim a $1,000 instant tax deduction for work-related expenses without keeping receipts.

📣 From 1 July 2027, a new $250 Working Australians Tax Offset applies permanently, effectively raising the tax-free threshold to just under $20,000.

If you are an employee or sole trader, these cuts add up over time.

12/06/2026

If you hold investments or run a business through a family trust, this Budget change deserves your full attention.

From 1 July 2028, a minimum 30% tax applies to discretionary trust income, collected at the trustee level. Beneficiaries receive a non-refundable credit for the tax paid.

❌ The practical effect: the strategy of distributing income to family members on lower tax rates is largely removed.

Fixed trusts, superannuation funds, deceased estates and charitable trusts are not affected.
Three years of rollover relief from 1 July 2027 will be available for those wanting to restructure out of a discretionary trust into a company or fixed trust.

If your wealth or business sits inside a family trust, now is the time to understand what this means for your structure.

Book a consult with one of our advisors to get clarity: https://buff.ly/24xjmXr

Address

Pymble, NSW
2073

Telephone

+61290565078

Website

http://www.hemisphereaccounting.com/

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