Peninsula Tax and Accounts

11/05/2026

VICTORIAN STATE BUDGET.
Is anyone going to be watching with anticipation like we will be?

For a few weeks the media has been murmuring a few things to come into play…. The 50% CG extend T discount being removed? Hopefully grandfathered in. It maybe for investments purchased after a budget date but any prior may have a indexation formula for when the asset is sold - don’t worry 😉 we accountants will have this sorted 😭😭😭😭

Focusing on cost of living, health, education, safety and the economy.

Although we do not anticipate a huge change as there is not much in our Victorian kitty, we do hope that it does help ALL Victorians.

16/04/2026

Self Education expenses.
A tough area to ascertain if you can claim back the course fees or not.
Happy to have a chat with your inquiry on 03 59022645.

Here’s the scene: you’re a server at a restaurant.

Your boss says you should complete a commercial cookery course to get your dream job as a chef 🧑‍🍳

Fast-forward to tax time. Can you claim this as a work-related self-education expense?

02/04/2026

Happy Easter Long Weekend to all our clients.

Our office has also closed at 5.00pm today and we will reopen of the 13th of April 2026 at 9.00am.

We are looking forward to an extra week before tax time starts next quarter.

Take care over the long weekend and see you all soon.

20/03/2026

I heard this through the grapevine this week.
They are back with their surprise visits and audits on bas lodgements.

Are you behind on your lodgements?

Give us a call on 0359022645 and we can start the process to get the lodged before you start getting the calls requesting them to be lodged by the ATO.

We are found of the saying - get in before the ATO do :)

19/02/2026

Over the years we have always advised our clients to pop their GST collected on invoices away into a bank account and not touch it.
Life and business bill happens but you need to try to ensure you repay the amount you have used from the gst amounts.
It really is important that as a business owner to always put aside weekly the GST, PAYGW, Super into a seperate bank account to ensure the money is there to pay your BAS.

17/01/2026

Perfect timing as it appears the main highway to work is closed for repairs, either way now we don’t have to drive the super long way to work as we are on leave for the next two weeks for a long awaited holiday.

The Somerville office is closed and there is NO ONE manning the phones - we have gone “old school”, where we used to be able to shut the doors for leave time and family holidays and no stress or worry about work (anyone who really knows me - knows this will always be on my mind whilst holidaying).

If you have an URGENT matter our lovely Amy Condon has offered to help if she can on 0408 757 834.

We will be back 2nd February 2026 at 9.00am to catch up with emails and messages.

Other than packing and getting up at a disgusting time of 4.00am to watch our flight, this trip has been many years in waiting.l a d they whole family is super excited.

See or talk to you in two weeks.

From PTAA

20/12/2025

Why yes we do 😝

18/12/2025

Merry Christmas from the team at PTAA.

We will be closing the office tomorrow 19th December 2025 at 12.00 pm for a long wellmdeserved rest and to do some work around the house.

We all hope your wishes and your dreams come true and you get to spend the right amount of time with family with many hugs with them all.

Unwrap your gifts and eat to you are full and have a siesta and awake in time for New Year Eve party time.

We will see you all back on the 12th January 2026 at 9.00am.

With love
Paula and Amy and the team.

16/12/2025

Nothing makes us more prouder than being the treasurer of Tiny Tails Chiahuahua Rescue in Victoria.

As being part of the amazing committee we see all the back ground shenanigans, the adoptees and the adopted.

This amazing rescue have 7 internal rescues that are permanent rescues that stay at TTCR head quarters never to be adopted out due to medical and health reasons.

We have a little donation box at the Somerville office if you pop in we would be glad to lighten your po lets of change but the best part is the bsb and account details are on there as well but we will add them incase you have not reached your quota on donations for the year.

Merry Christmas’s PTAA clients and family.

( yes we also have a Christmas catch up every year for the pups who have been adopted and or just a social catch up with other chis).l ad he

05/12/2025

PRIVATE HEALTH INSURANCE!

We are noting with increases of income in particular industries and clients who HAVE private health that they have not updated their annual income/s with their private health insurance providers.
When you initially called for your chosen funds you would have been asked your taxable income/s, this is to work out your 30% rebate calculation.
Because of not informing the PHI provider, taxpayers are paying the amount in their tax returns.
Keep an eye out on your calculation sheet in your return, if there is a negative amount under private health insurance - give your provider a call and update your assessable income.