Presidio Partners

Presidio Partners is acknowledged as an innovative boutique accounting firm, that provides exceptional professional services to clients, through considered advice and planning.

💡 Tax Deductions vs Tax Offsets – What's the Difference?With recent Budget announcements introducing a proposed $1,000 s...
15/07/2026

💡 Tax Deductions vs Tax Offsets – What's the Difference?

With recent Budget announcements introducing a proposed $1,000 standard work-related deduction and a $250 Working Australians Tax Offset, it's a great time to understand how these two tax benefits actually work.

✅ Tax deductions reduce your taxable income. The amount you save depends on your tax rate.
✅ Tax offsets reduce the tax you owe, dollar for dollar, making them potentially more valuable.
For example:
• A $1,000 deduction could save you between $160 and $450, depending on your income.
• A $250 tax offset reduces your tax bill by the full $250 (provided you have enough tax payable).
⚠️ Keep in mind these Budget measures are proposed for future financial years and won't apply to your current tax return.
Not sure what deductions or offsets you're entitled to? We're here to help you maximise your tax position and make sure you don't miss out.

📞 Get in touch with the Presidio Partners team today.

💼 Federal Budget: Business tax relief announcedThe latest Federal Budget includes a range of proposed measures aimed at ...
08/07/2026

💼 Federal Budget: Business tax relief announced

The latest Federal Budget includes a range of proposed measures aimed at helping businesses invest, grow and plan with greater certainty.

📌 Key highlights include:
✅ The $20,000 instant asset write-off is set to become permanent for eligible small businesses (turnover under $10 million)
✅ Tax loss carry-back rules to return for eligible companies from 1 July 2026
✅ Proposed changes to FBT concessions for electric vehicles, phased in over coming years
✅ Enhanced R&D Tax Incentive from 1 July 2028 to encourage innovation
✅ Optional monthly PAYG instalments for small and medium businesses from 1 July 2027
✅ Proposed changes to discretionary trust taxation from 1 July 2028
While many of these measures are still subject to legislation and won't take effect immediately, they could have a significant impact on business tax planning.

📞 If you'd like to understand how these proposed changes may affect your business, get in touch with our team.

💰 Federal Budget Update: Personal tax relief on the way!The 2026–27 Federal Budget includes several proposed tax changes...
01/07/2026

💰 Federal Budget Update: Personal tax relief on the way!

The 2026–27 Federal Budget includes several proposed tax changes that could affect individuals and investors over the coming years.

📌 Key highlights:
✅ A new $250 Working Australians Tax Offset (WATO) from 1 July 2027
✅ Previously announced personal income tax cuts remain on track
✅ Proposed changes to Capital Gains Tax (CGT) from 1 July 2027
✅ Superannuation remains largely unchanged, with complying super funds continuing to receive concessional tax treatment on long-term capital gains
✅ Proposed changes to discretionary trusts and negative gearing from 1 July 2027
While many of these measures are still proposed and won't take effect immediately, they could have a significant impact on future tax and investment strategies.
📞 If you're wondering how these changes could affect your personal finances or investments, we're here to help you plan ahead.

01/06/2026

Thankyou for your patience everyone!
The phones are up and running again 🙏

01/06/2026

Good morning everyone!
Please note that our phones are currently not working due to technical difficulties.
Please email [email protected] if you wish to reach out to us at this time.
Apologies for any inconvenience this has caused to anyone.

💰 Payday super is coming — and cash flow planning will be criticalFrom 1 July 2026, employers must pay super every payda...
26/05/2026

💰 Payday super is coming — and cash flow planning will be critical

From 1 July 2026, employers must pay super every payday instead of quarterly, with contributions needing to reach employee funds within 7 business days.

⚠️ July 2026 could create a major cash flow squeeze for businesses because employers may need to:
• Pay the final quarterly super payment for April–June by 28 July 2026
AND
• Start making payday super payments for July payrolls at the same time

📌 Key things to know:
• Super paid late for the June quarter may trigger the Super Guarantee Charge
• Contributions must reach funds by 30 June 2026 to remain tax deductible for the 2025–2026 year
• The new rules mean payment timing becomes more important than ever

✅ The ATO recommends reviewing your July 2026 pay cycles now and planning ahead for the transition.

Businesses that prepare early will be in a much stronger position when payday super begins.

Need help reviewing your payroll processes or cash flow planning? We’re here to help.

💰 Could the proposed $1,000 instant tax deduction benefit you?The Federal Government has proposed a new $1,000 standard ...
19/05/2026

💰 Could the proposed $1,000 instant tax deduction benefit you?

The Federal Government has proposed a new $1,000 standard tax deduction that would allow eligible taxpayers to claim work-related expenses without receipts — replacing the current $300 no-receipt limit.

⚠️ Important: this is still only a proposal and hasn’t passed Parliament yet. If approved, it would apply from the 2026–2027 financial year.

📌 The deduction would cover common work expenses such as:
• Home office costs
• Work clothing and uniforms
• Tools and equipment
• Work-related car expenses
• Stationery and supplies

💡 But bigger isn’t always better:
The ATO says the average Australian already claims more than $1,000 in work-related expenses. If you usually claim above that amount, you may still be better off keeping receipts and claiming your actual expenses.

✅ Some deductions could still be claimed separately, including:
• Charitable donations
• Union fees
• Income protection insurance
• Investment-related expenses

Before making any decisions, it’s important to understand what works best for your personal situation.

Need help maximising your tax deductions? Contact us for tailored advice.

📢 Major super tax changes are now lawNew legislation has passed, introducing significant changes to Australia’s superann...
06/05/2026

📢 Major super tax changes are now law

New legislation has passed, introducing significant changes to Australia’s superannuation system—particularly for high-balance accounts—while also increasing support for low-income earners.

💼 Division 296 tax – what’s changing?
From 1 July 2026, a new tax will apply to earnings on super balances over $3 million:
• 15% tax remains for balances up to $3 million
• 30% effective tax on earnings between $3M–$10M
• 40% effective tax on earnings above $10M
This will impact fewer than 0.5% of Australians (around 80,000 people), meaning most people won’t be affected.

📊 Key detail
For the first year, the tax is based on your total super balance at 30 June 2027.
🔍 Changes to total super balance (TSB)
From 1 July 2026, a new method for calculating your total super balance will apply. Each super interest will have its own value, and your total TSB will be the sum across all accounts—impacting multiple tax rules, not just Division 296.

💡 Boost for low-income earners (LISTO)
From 1 July 2027:
• Maximum LISTO increases from $500 to $810
• Eligibility threshold rises from $37,000 to $45,000
• Future adjustments will be automatically indexed

⏳ What this means for you
If you have a high super balance, there’s a window to review your strategy before 30 June 2027. For low-income earners, increased support is on the way.

📩 Need guidance?
Contact Presidio Partners to understand how these changes may impact your strategy:
📞 (02) 9283 1777
✉️ [email protected]

📊 STP penalties are under the ATO’s microscopeSingle Touch Payroll (STP) is no longer just a payroll task—it’s a critica...
28/04/2026

📊 STP penalties are under the ATO’s microscope

Single Touch Payroll (STP) is no longer just a payroll task—it’s a critical compliance obligation, and the ATO is paying close attention.
With STP data now used across tax and super systems in real time, accurate and timely reporting has never been more important.

👩‍💼 For employers: what you need to know
• Report payroll information through STP-enabled software on or before payday
• Include salaries, wages, PAYG withholding and super information
• Complete your end-of-year finalisation by 14 July
• Ensure you’re reporting in STP Phase 2 (unless exempt)

⚠️ Penalties can apply
The ATO has made it clear—failure to lodge, late reporting, or using the wrong format may result in penalties. While some leniency may apply in isolated cases, ongoing issues can trigger compliance action.

🔍 Why accuracy matters
STP data is shared across government agencies and impacts:
• Employee income statements
• Super guarantee compliance
• What employees see in myGov and their super accounts
If your payroll, STP reporting and super payments don’t align, it can quickly raise red flags.

✅ What you should do now
• Treat STP as a real-time obligation, not a year-end task
• Regularly reconcile payroll, STP and BAS data
• Ensure you’re using the correct reporting format
• Fix errors early and seek advice if needed
Staying on top of STP isn’t just about compliance—it’s about protecting your business and your employees.

📩 Need help?
Contact Presidio Partners:
📞 (02) 9283 1777
✉️ [email protected]

🚗 It’s logbook check-in timeMany people think once they’ve completed a car logbook, they’re set for five years—but that’...
22/04/2026

🚗 It’s logbook check-in time

Many people think once they’ve completed a car logbook, they’re set for five years—but that’s not always the case. Relying on an outdated logbook could mean you’re claiming the wrong amount at tax time.

📘 When your logbook may no longer be valid
You’ll need to start a new one if:
• You change jobs
• You move home or workplaces
• Your work-related driving patterns change
If your situation has changed, your logbook should reflect that too.

🚙 Multiple vehicles?
If you’re claiming expenses for more than one car, you’ll need a separate logbook for each, covering the same time period for consistency.

📝 Bought a new car?
You can sometimes rely on your previous logbook—but only if you make a written nomination before lodging your tax return.

⚠️ Important tip
If your car is provided by your employer or through a novated lease, you generally can’t claim work-related car expenses using logbook or cents per kilometre methods—because you don’t own the vehicle.

🔌 Electric & hybrid vehicles
Using the EV home charging rate? You won’t be able to claim separate commercial charging costs. Plug-in hybrids also require a specific calculation method.

✅ Stay accurate, stay compliant
Keeping your logbook up to date is key to claiming correctly and avoiding issues at tax time.
If your work, home or driving habits have changed, it might be time for a review.

📩 Contact Presidio Partners to ensure your logbook—and your claims—are on track.
(02) 9283 1777
[email protected]

Address

Lvl 2, 222 Pitt Street
Sydney, NSW
NSW

Telephone

+61292831777

Website

Alerts

Be the first to know and let us send you an email when Presidio Partners posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Presidio Partners:

Shortcuts

Share

Category