Custom Accounting Pty Ltd

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…

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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…

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ATO Updates EV Home Charging Rate: What It Means for You

Custom Accounting — Sun, 10 May 2026 22:55:00 +0000

The ATO has announced a significant update that will affect anyone using electric vehicles (EVs) or plug-in hybrid electric vehicles (PHEVs) for work or fleet purposes and where the vehicle is charged at the relevant individual’s home. From 1 April 2026 (for FBT purposes) or from 1 July 2026 (for income tax purposes), the ATO’s standard home-charging electricity rate will increase from 4.20…

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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…

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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…

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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.

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What the New Div 296 Tax Means for Individuals with Large Super Balances

Custom Accounting — Mon, 06 Apr 2026 22:45:00 +0000

The Better Targeted Superannuation Concessions measure (known as the Division 296 tax) is now law and takes effect from 1 July 2026. For those with large super balances, it’s important to understand what the new tax does, why it’s been introduced, and the practical steps you and your financial adviser should consider. The Purpose of the Tax Division 296 is designed to make superannuation…

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Keeping Your Self-Managed Super Fund Compliant

Custom Accounting — Sun, 22 Mar 2026 22:02:00 +0000

Self managed superannuation funds (SMSFs) can offer significant flexibility, allowing the members to make investments and enter arrangements that may not be available through retail or industry superannuation funds. However, being an SMSF trustee does come with important responsibilities to ensure that all dealings comply with superannuation law. Two critical areas to keep front of mind are…

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ATO Update on Inherited Homes: What it Means for Your Family’s Wealth

Custom Accounting — Sun, 15 Mar 2026 21:56:00 +0000

The ATO has issued a Draft Taxation Determination TD 2026/D1 which looks at how inherited family homes are treated for CGT purposes. Some industry commentators have dubbed it a “death tax by stealth”, but it is a bit more complex than this. The draft guidance focuses on a specific aspect of the rules around applying the main residence exemption to inherited properties…

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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…

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