Accountstream Tax & Business Advisors

24/05/2026

From 1/7/27 the 50% CGT discount will be replaced by cost base indexation for assets held for more than 12 months, with a 30% minimum tax to apply on net capital gains.

Assets acquired pre 20 September 1985, currently exempt from CGT, are also affected.

From 1/7/27 the 50% CGT discount will be replaced by cost base indexation for assets held for more than 12 months, with a 30% minimum tax to apply on net capital gains. Assets acquired pre 20 September 1985, currently exempt from CGT, are also affected.

17/05/2026

2026-27 Federal Budget was ambitious, announcing significant reforms to capital gains tax and negative gearing in a bid to support home ownership and improve the fairness of the tax system.

04/05/2026

The 2025-26 fringe benefits tax year ended on 31 March. As employers gear up for FBT tax time, there are a few changes for 2025-26 that employers should be aware of, especially if you provide plug-in hybrid electric vehicles (PHEVs) to your employees.

22/02/2026

Bank reconciliations ensure the accuracy of your organisation's financial statements and helps maintain financial integrity. Get into the habit of doing it often. Putting it off can mean bad things for your business records!

Bank reconciliations ensure the accuracy of your organisation's financial statements and helps maintain financial integrity. Get into the habit of doing it often. Putting it off can mean bad things for your business records!

15/02/2026

🚨 ATO WARNING FOR CONTRACTORS 🚨

The ATO is now data-matching contractor income using Taxable Payments Annual Reports (TPAR).

If what you report in your tax return ≠ what businesses reported paying you…
👉 You WILL get contacted.

Common problems we’re seeing:
• Missing income after changing business structure
• GST not matching BAS
• Invalid ABNs used on invoices

Good news: fixing it early = lower penalties.

If you receive contractor income or pay subcontractors, now is the time to review.

Message us for a pre-audit check before the ATO does it for you.

The Australian Taxation Office (ATO) has intensified compliance activity targeting contractors after identifying growing discrepancies between reported income and third-party data. If you operate as a contractor — or you pay contractors — this update is important. The ATO is now actively cross-c...

08/02/2026

A legislative instrument now permits the Commissioner to extend the period in which foreign persons must notify the Australian Taxation Office (ATO) of acquisitions of property and other assets, as mandated under Part 7A of the Foreign Acquisitions and Takeovers Act 1975.

A legislative instrument has been made to allow the Commissioner to extend the period of time in which a foreign person must notify the ATO of acquisitions of property and other assets in Australia as required under Pt 7A of the Foreign Acquisitions and Takeovers Act 1975 (the Act). Foreign resident...

01/02/2026

The ATO has finalised new compliance guidance on how professional and service-based income is assessed, particularly where income is derived from personal exertion. Businesses that self-assess as a Personal Services Business (PSB) should revisit their structures to ensure they do not fall into higher-risk audit categories under the ATO’s new framework.

The Australian Taxation Office (ATO) has finalised its compliance approach on how Part IVA (general anti-avoidance rules) can still apply to Personal Services Businesses (PSBs), even where the Personal Services Income (PSI) rules do not apply. This guidance is set out in Practical Compliance Guideli...

26/01/2026

The federal government has introduced draft legislation to amend the tax concessional treatment of large superannuation account balances, effective from 1 July 2026. Individuals with a total superannuation balance (TSB) exceeding $3 million will face a higher tax rate on earnings above this threshold.

The federal government has released draft legislation proposing to change tax concessional treatment of large superannuation account balances. The tax concessional status will change for individual’s with over $3 million in their total superannuation balance (TSB). Effectively, the amounts held in...

15/12/2025

Happy Christmas to our valued clients and community. Wishing you good health, happiness and meaningful new beginnings in the year ahead. May 2026 bring you every success you strive for.

Happy Christmas to our valued clients. We are wishing you health, happiness, and new beginnings for your year ahead, also that 2026 brings you everything you wish.