Small Business – Custom Accounting Pty Ltd

Ending card surcharges: What you need to know before 1 October 2026

Custom Accounting — Sun, 21 Jun 2026 22:48:00 +0000

The Reserve Bank of Australia (RBA) has confirmed that all surcharges on credit and debit card payments — across eftpos, Mastercard and Visa — will be banned from 1 October 2026. This represents one of the most significant updates to Australia’s payments landscape in years and will have a direct impact on businesses and consumers. Why this matters Australians pay an estimated $1.6…

Source

Key 2026–27 Federal Budget tax reforms: What they mean for you

Custom Accounting — Tue, 09 Jun 2026 22:40:00 +0000

The 2026–27 Federal Budget, released on 12 May 2026, has received more attention than most budgets in recent years. With proposed changes to negative gearing, the CGT discount and the taxation of trusts, this is a budget that has the potential to materially impact on property investors, business owners and families using discretionary trusts. However, it is important to remember that the…

Source

Practical Help for Businesses Impacted by Fuel Disruptions

Custom Accounting — Sun, 17 May 2026 22:56:00 +0000

With global fuel supply chains still under strain from conflict in the Middle East, many Australian businesses are feeling the impact through higher operating costs, delayed deliveries and pressure on cash flow. To help stabilise affected sectors, Treasurer Jim Chalmers and the ATO have announced a package designed to give businesses immediate breathing room and reduce administrative burden…

Source

Federal Budget 2026–27

Custom Accounting — Tue, 12 May 2026 23:14:27 +0000

Treasurer Jim Chalmers has handed down the 2026–27 Federal Budget, with a strong focus on housing affordability, cost-of-living pressures and economic reform. This year’s Budget includes a number of significant proposed changes impacting business owners, investors and family groups, including reforms to negative gearing, Capital Gains Tax (CGT) and discretionary trusts…

Source

The ATO Targets FBT on Work Vehicles: Don’t Let Assumptions Cost You

Custom Accounting — Mon, 27 Apr 2026 23:13:13 +0000

The ATO is turning up the heat on employers who provide work vehicles for private use. Sophisticated data-matching means assumptions and shortcuts can quickly lead to audits, penalties, interest charges—and even reputational damage. You can see the latest ATO FBT audit warning here: Misreporting FBT on personal use of work vehicles | Australian Taxation Office If you provide vehicles to your…

Source

Key Lessons from the Kilgour Case: Smarter Valuations in Business Sale Transactions

Custom Accounting — Mon, 20 Apr 2026 22:33:00 +0000

When selling a business—or even a slice of one—how you value the assets involved can have a major impact on the tax bill. A recent Full Federal Court decision, Kilgour v Commissioner of Taxation [2025] FCAFC 183, offers timely guidance on how “market value” is really determined for capital gains tax (CGT) purposes. When preparing for transactions, restructures or potential exit events…

Source

A Wake-Up Call for Family Businesses on Fringe Benefits Tax

Custom Accounting — Mon, 13 Apr 2026 14:30:00 +0000

As Fringe Benefits Tax (FBT) lodgement season approaches, family businesses should carefully review the perks they provide to working directors and family members. A high-profile case involving luxury vehicles provided to three brothers who run a large business empire through a discretionary trust highlights the complexities — and potential risks — of informal arrangements.

Source

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

Custom Accounting — Sun, 08 Mar 2026 21:50:00 +0000

Running a business from home—whether as a sole trader, freelancer, or small operator—has many perks. But when it comes to selling your home and potentially saving on tax, recent guidance from the ATO serves as a reality check. The ATO has provided its views on how home-based businesses interact with the small business capital gains tax (CGT) concessions, providing a warning on how the ATO…

Source

DPN Review: A Wake-Up Call for Business Owners on Personal Tax Risks

Custom Accounting — Sun, 01 Mar 2026 21:46:24 +0000

Running a successful business is hard work—and sometimes, despite best intentions, tax obligations slip. If the business is being operated through a company structure, then the ATO can potentially issue a Director Penalty Notice (DPN), holding company directors personally liable for unpaid taxes. In 2024–25, DPNs skyrocketed by 136%, reaching over 84,000 notices, affecting directors of around…

Source

AI Tax Tips: Helpful Shortcut or Costly Trap?

Custom Accounting — Sun, 15 Feb 2026 22:05:00 +0000

As a business owner or investor, time is always tight. So it’s no surprise many people now turn to AI tools like ChatGPT for quick answers on tax deductions, super contributions or structuring ideas. The responses sound confident, arrive instantly and cost nothing. What could go wrong? Plenty. The Australian tax and super system is complex, highly fact-specific and constantly changing.

Source