Presidio Partners

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

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]

💡 Where AI can be usefulAI tools are great for general, educational questions like:• “How does compound interest work?”•...
17/04/2026

💡 Where AI can be useful

AI tools are great for general, educational questions like:
• “How does compound interest work?”
• “What is capital gains tax?”
• “What is salary sacrifice?”
• “What’s the difference between concessional and non-concessional super contributions?”
Used this way, AI can help you understand key concepts and prepare for conversations with your adviser.
⚠️ Where to be cautious
When questions become personal—like “Can I claim this deduction?” or “How much should I contribute to super?”—AI isn’t the right tool. These answers depend on your unique circumstances.
Here’s why:
• AI can be incorrect, even when it sounds confident
• It may miss key details about your situation
• It’s not licensed to provide personal financial or tax advice
🔒 Don’t forget privacy
Avoid entering sensitive information like your TFN, bank details, or myGov login into AI tools—you don’t know how that data may be used.
✅ Use AI wisely
Think of AI as a starting point—not the final answer. Always verify information with trusted sources like the ATO or Moneysmart, and seek advice from qualified professionals.
If you’re asking:
“Does this apply to me?”
“What’s the best option for my situation?”
It’s time to speak to an expert.

📩 Contact Presidio Partners for advice tailored to your needs and circumstances.
(02) 9283 1777
[email protected]

💡 Don’t miss out this year: GST credits, fuel tax credits & your BASAs 2026 gets underway, now’s the perfect time to mak...
25/03/2026

💡 Don’t miss out this year: GST credits, fuel tax credits & your BAS

As 2026 gets underway, now’s the perfect time to make sure your business isn’t leaving money on the table.

✅ GST credits
If you’re registered for GST, you can claim back the GST included in business purchases (input tax credits) on your BAS — reducing the amount you owe the Australian Taxation Office.
To claim:
• You must be GST-registered
• The purchase must be for business use (not personal)
• The supplier must have charged GST
• For purchases over $82.50 (incl. GST), you need a valid tax invoice
⏳ Don’t forget — you generally have four years from the BAS due date to claim. After that, the credits expire.

⛽ Fuel tax credits
If your business uses eligible fuel in certain vehicles, machinery or equipment, you may be able to claim fuel tax credits on your BAS.
Keep in mind:
• You must be registered for both GST and fuel tax credits
• Rates change twice a year
• Not all fuel use qualifies (for example, fuel used in passenger cars on public roads is excluded)
• The same four-year time limit applies

Starting the year with a review of your BAS, past claims and eligibility could improve your cash flow and avoid last-minute stress.

If you’re unsure what you can claim or whether you’ve missed anything, now is a great time to speak with your tax adviser.

🚨 Warning: Pump & Dump Investment Scams 🚨ASIC has reported a rise in “pump and dump” schemes targeting Australian invest...
18/03/2026

🚨 Warning: Pump & Dump Investment Scams 🚨

ASIC has reported a rise in “pump and dump” schemes targeting Australian investors, especially in small-cap stocks.
Scammers hype up little-known shares using false rumours, fake endorsements and coordinated social media posts. Once the price spikes, they sell — leaving others with heavy losses.

⚠️ Red flags to watch for:
• Urgent, unsolicited investment tips
• Sudden online buzz about unknown stocks
• “Guaranteed returns” or “inside information”
• Ads pushing you into private chat groups
• Unusual price spikes

Before investing, always verify information through official company announcements and do your own research.

If you suspect a scam, report it to Scamwatch, the Australian Taxation Office, or ReportCyber.

If it sounds too good to be true, it probably is!

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Lvl 2, 222 Pitt Street
Sydney, NSW
NSW

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