ABC Insight - Business Advisory & Taxation

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ABC Insight - Business Advisory & Taxation

ABC Insight provides a specialised advice on tax and business structure for small to medium businesses. We provide service on preparation of tax returns.

24/06/2026

💰 Below information is about personal tax-deductible voluntary contribution to your super fund.

⏳ If you would like to make a personal tax-deductible voluntary contribution to your super fund, you will need to act now.

📌 For FY2026, the concessional contribution cap is $30,000. This cap includes:
✅ Employer super contributions;
✅ Any additional salary sacrifice contributions made through your employer that you intend to claim as a tax deduction; and
✅ Personal voluntary post-tax contributions that you intend to claim as a tax deduction.

📈 If you have not yet reached your contribution cap and would like to make an additional contribution, please take action as soon as possible.

🏦 If you have an SMSF and wish to make a top-up super contribution to your SMSF, you can simply transfer the amount to your SMSF bank account. Ask your adviser or accountant to assist you.

📝 If you have an industry super fund and wish to make a personal tax-deductible contribution to the industry super fund, you will need to submit a Notice of Intent to Claim a Tax Deduction to your super fund. Please ensure the contribution is received by your super fund by 30 June 2026. Super funds may take at least five business days to process the application, so please act quickly.

If you have excess cash flow and wish to contribute more than $30,000 in FY2026, you may be able to use your unused concessional contribution caps from the previous five financial years. However, there are several conditions attached to this process such as available unused balance, super fund balance under $500K per member, etc.

If you would like to consider this option, please contact your adviser or accountant for assistance.

09/05/2026

💐 To the women who love endlessly, give selflessly, and support unconditionally — Happy Mother’s Day ❤️

Today we celebrate all the incredible mums and mother figures who make life so special 🌸✨

24/04/2026

💡 Instant Asset Write-Off Update

The ATO is reminding eligible businesses about the Instant Asset Write-Off (IAWO) — a great opportunity to reduce your tax 💰

✅ Who qualifies:
Small businesses with aggregated turnover under $10 million

💸 Deduction benefit:
Instantly write off assets under $20,000 (business-use portion)

📅 Timing requirement:
Assets must be installed or ready for use between 1 July 2025 – 30 June 2026

🔢 Per asset rule:
The $20,000 limit applies per asset, not per business

🔄 Second-hand assets:
Eligible (subject to some exclusions)

🔧 Improvements:
First improvement costs can also be written off if under $20,000 and within the same period

📊 Assets over $20,000:
Added to depreciation pool:
• 15% deduction in year 1
• 30% in following years

**The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained

17/04/2026

What is Transition to Retirement (TTR) Pension?🤔

A Transition to Retirement (TTR) pension allows individuals who have reached their preservation age (55–60 depending on DOB) to access part of their super while still working, with withdrawals limited to 4–10% per year.
-Birth Date Thresholds:
o Before 1 July 1960: 55 years
o 1 July 1960 – 30 June 1961: 56 years
o 1 July 1961 – 30 June 1962: 57 years
o 1 July 1962 – 30 June 1963: 58 years
o 1 July 1963 – 30 June 1964: 59 years
o After 30 June 1964: 60 years
If you are under preservation age, super is generally inaccessible except in limited circumstances. If you reach preservation age and fully retire before 60, you can start a pension, but payments remain taxable (with a 15% offset) until age 60.

Tax treatment depends on age and pension phase:
-Under 60: Pension payments are taxed at marginal rates with a 15% tax offset.
-60+: Pension withdrawals are generally tax-free (from taxed funds).

However, a key distinction is:
-TTR (not in retirement phase): Super fund earnings are still taxed at 15%.
-Retirement phase (after meeting a full condition of release): Fund earnings become tax-free (0%), significantly improving tax efficiency.

A common strategy is combining TTR with salary sacrifice to reduce personal tax while maintaining cash flow, though benefits are strongest for higher-income earners.

In summary, TTR pensions provide flexibility and tax planning opportunities, but the real tax advantages occur once the pension moves into retirement phase, where both withdrawals and fund earnings can be tax-free.

*The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.

14/04/2026

Happy Puthandu Vazthukal from ABC Insight🌸
May your days be peaceful 🕊️, your efforts rewarding 💫, and your year truly fulfilling 🌼

04/04/2026

Happy Easter from ABC Insight!🐣

Wishing you a wonderful Easter filled with joy, renewal, and new opportunities. May the season bring happiness and continued success to you and your family.

Address

Suite 341, Waterman Eastland, C307, Level 3, Eastland Shopping Centre, 175 Maroondah Highway
Ringwood, VIC
3134

Telephone

+61457638361

Website

http://www.abcinsight.com.au/

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