BAS & Books for You

04/07/2026

To get more information or book your tax return go to www.bb4u.au or contact us on WhatsApp +61422703936

22/06/2026

New AUSTRAC legislation starting from 01 July 2026.
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13/05/2026

BB4u NEWS

The 2026-27 Federal Budget was handed down on 12 May 2026. The key tax measures are:

CGT discount replaced — from 1 July 2027, the 50% CGT discount is replaced with cost base indexation plus a 30% minimum tax on real gains. Applies to all CGT assets including pre-1985 assets, with gains accrued before 1 July 2027 grandfathered. Investors in eligible new builds can elect either system, and income support recipients are exempt from the 30% minimum tax.

Negative gearing limited to new builds — from 1 July 2027, losses on established residential property acquired after 7:30pm AEST 12 May 2026 can only be deducted against rental or residential property capital gains income. Properties held (or under contract) before that time are grandfathered.

30% minimum tax on discretionary trusts — from 1 July 2028, with exemptions for unit and widely-held trusts, complying super funds, special disability trusts, deceased estates and charitable trusts. Primary production income, certain vulnerable minor income, and income from existing testamentary trust assets are also excluded. Three-year rollover relief from 1 July 2027 to assist restructuring.

$20,000 instant asset write-off made permanent — for small businesses with turnover up to $10 million, from 1 July 2026.

Loss carry-back reinstated — companies with global turnover under $1 billion can carry losses back two years, from 1 July 2026. Separately, loss refundability for start-ups (turnover under $10 million, first two years of operation) from 1 July 2028.

$1,000 instant tax deduction — from the 2026–27 income year, individuals can claim a flat $1,000 for work-related expenses without itemising (charitable donations and professional memberships still claimable on top).

Working Australians Tax Offset — a new $250 permanent tax offset for income from work, from the 2027–28 income year, lifting the effective tax-free threshold to $19,985 (or $24,985 with LITO).

/2027

01/05/2026

Managing the changeover to Payday Super

Watch the ATO video and get prepared for the transition now.

https://tv.ato.gov.au/media/bi9or7or5xz1ux

25/04/2026

BAS 3rd Q due date is near. Don't wait till the last minute. Prepare now and book your appointment if you haven't already. Late lodgement penalties apply. Book now via Bio or contact us.

25/04/2026

Tax season is wrapping up! If you have a tax agent extension, May 15 2026, is your last chance to lodge. Book your appointment ASAP. Go to our Bio for the link to book.

05/03/2026

If you are a Individual or have a Trust and your tax liability was $20k or more on previous financial year, you must lodge your FY 2024/2025 tax return by 31 March 2026! Otherwise you will be overdue and might face penalties and interest charges from ATO.
If you need to lodge your tax go to our bio and click on link to go to Tax returns to book your appointment.

12/01/2026

Cyber Security good practice