HMS Advisors Pty Ltd

08/05/2026

We are pleased to announce that Mark Arenson & Co has merged with HMS Advisors.

This merger brings together two established accounting practices with a shared commitment to providing personalised, practical and professional advice to our clients.

HMS Advisors is excited to welcome Mark Arenson & Co and its valued clients to the firm. Mark Arenson will continue to be actively involved during the transition period, working closely with our team to ensure continuity and a seamless experience for clients.

By combining our experience and resources, we are strengthening our ability to support clients across taxation, accounting, business advisory and superannuation services — while maintaining the responsive and personalised service our clients value.

We look forward to this exciting next chapter and to continuing to support our clients and community for many years to come.

08/05/2026

🚨 Beware of ATO Scam Calls This Tax Time 🚨

The ATO has introduced a new ‘Verify Call’ feature in the ATO app to help Australians instantly confirm whether a phone call claiming to be from the ATO is genuine.

✅ How it works:
1️⃣ Open the ATO app
2️⃣ Tap ‘Verify Call’
3️⃣ Receive instant confirmation

No confirmation? Hang up immediately.

Scam calls can lead to:
❌ Identity theft
❌ Stolen tax refunds
❌ Access to your superannuation
❌ Financial loss

📱 We recommend:
✔ Updating the ATO app
✔ Registering your device
✔ Setting your myID security level to ‘Strong’

These simple steps can help protect your personal and financial information this tax season.

If you are ever unsure about a call, email or SMS claiming to be from the ATO, contact us before responding.

HMS Advisors Pty Ltd
Chartered Accountants

06/04/2026

03/03/2026

Navigating CGT on Your Home: New ATO Clarity for Home-Based Businesses

The ATO’s updated guidance suggests that many home-based business owners won’t have access to the small business CGT concessions on sale of their home, but this always depends on the facts. Business owners need to plan proactively, rather than assume that tax relief will be available.
By understanding how your home’s business use is treated, you can make smarter decisions. For example, will the profits generated from a small business operated at home end up being wiped out by a higher CGT liability on sale of the property down the track?
After all, when it comes to CGT, every dollar you keep counts toward your next venture or your retirement nest egg.

Send a message to learn more

13/10/2025

Div 296 – Additional tax on super members with more than $3m

Jim Chalmers (Monday 13 October 2025) announced that the proposed Division 296 tax on members with superannuation balances above $3m is being revised to include:

• the start date is now 1 July 2026 (previously 1 July 2025);
• the tax will be on realised gains (previously included unrealised gains);
• a 25% tax on earning from members with more than $10m (previously 15% about $3m)
• Thus, members with balances:
- between $3m to $10m will pay up to an extra 15% on super earnings above $3m; and
- above $10m will pay up to an extra 25% on super earnings above $10m;
• the $3m and $10m thresholds will be indexed (new); and
• defined benefit members, with some exceptions, will be taxed on a similar basis.

Send a message to learn more

18/08/2025

Interest deductions: risks and opportunities
It’s worth reaching out to us before entering into any new loan arrangements. In this area, mistakes are often difficult to fix after the fact, which can lead to poor tax outcomes. That’s why getting advice from a tax professional before committing to a loan is essential. We can work alongside you and your financial adviser to ensure your loan is structured in a way that makes financial sense and protects your tax position.

Send a message to learn more

25/10/2024

The tax deadline is fast approaching.

The tax time deadline isn't just for individual taxpayers.

If you are a small business owner or individual, make sure you lodge or team up with a tax agent by 31 October 2024. If you carried on a business, you need to lodge, even if you made a loss.

HMS Advisors Pty Ltd can assist you with your tax compliance.

Send a message to learn more