Gills Accountants & Advisors

21/05/2026

📅 The 2026 Federal Budget included proposed changes to the taxation of discretionary trusts that may significantly impact many small businesses and family groups.

Under the proposal:
✔️ A new 30% minimum tax may apply to income distributed through discretionary trusts
✔️ Beneficiaries may instead receive a non-refundable tax credit for tax already paid by the trustee
✔️ Certain trusts and income types may be excluded from the new rules
✔️ A proposed 3-year restructuring rollover relief period may become available from 1 July 2027 for eligible businesses looking to transition to alternative structures

As many small businesses operate through discretionary trusts, these proposed changes may create the need to review:
🏢 Existing business and trust structures
📊 Distribution approaches and tax outcomes
📅 Long-term succession and operational considerations

While these measures are still proposed at this stage, it is important to understand how they may affect your existing structure moving forward.

If you’d like to discuss how these proposed trust changes may affect your business or family group, feel free to get in touch.

18/05/2026

📅 Proposed changes announced as part of the 2026 Federal Budget may significantly impact taxpayers, property owners and business structures over the coming years.

Some of the key proposed changes include:
✔️ Changes to the current Capital Gains Tax (CGT) discount from 1 July 2027
✔️ A proposed move toward a cost base indexation model with a minimum tax on capital gains
✔️ Proposed restrictions to negative gearing, limiting deductions to eligible new builds from 1 July 2027
✔️ Rental losses on established properties potentially no longer being offset against other income

These proposed changes may affect:
🏠 Property ownership structures
📊 Tax outcomes on future asset sales
🏢 Trust and business structures
📅 Tax planning considerations moving forward

While there is still time before these changes may commence, now is a good opportunity to review your current position and understand how these proposals could affect you.

If you’d like to discuss how these proposed changes may impact your tax position or business structure, feel free to get in touch.

Send a message to learn more

14/05/2026

📅 The 2026 Federal Budget introduced several significant changes that may impact small businesses, business owners and investors.

Some of the key measures include:
✔️ The $20,000 Instant Asset Write-Off becoming permanent for eligible businesses
✔️ New 30% minimum tax rules for discretionary trusts
✔️ Expanded loss carry-back provisions for companies
✔️ Changes to negative gearing and CGT rules from 2027

Many of these changes may create opportunities — but they may also require businesses to review structures, cash flow planning and future strategies.

If you’d like to discuss how the Federal Budget changes may affect you or your business, feel free to get in touch.

05/05/2026

Hiring staff, buying equipment, expanding — these decisions all have financial impacts.

Understanding the numbers first leads to better outcomes.

We help clients plan and assess decisions before they commit.

If you’ve got something coming up, we’re happy to talk it through.

28/04/2026

📅 A major change is coming for employers from 1 July 2026.

Under the new Payday Super rules, employers will need to pay employees’ superannuation contributions at the same time as wages, instead of quarterly. In most cases, the contribution must reach the employee’s nominated fund within 7 business days of payday.

This may create cash flow and administrative changes for many businesses, particularly those with weekly or fortnightly payrolls.

Now is the time to start planning ahead by considering:
✔️ Your payroll and accounting systems
✔️ Whether your current pay cycle still works
✔️ Cash flow impacts of more frequent super payments
✔️ Processes to ensure compliance and avoid penalties

We can help you review the impact on your business and discuss strategies to prepare — including cash flow planning and whether changes to your pay cycle may help.

24/04/2026

📢 A friendly reminder that the due date for many 2025 Income Tax Returns is fast approaching.

The deadline for lodgement is 15 May 2026, so now is a great time to start getting organised and avoid the last-minute rush.

Whether you’re an existing client or looking for assistance with your tax return this year, our team is here to help make the process simple and stress-free.

If you need help preparing or lodging your return, feel free to get in touch.

01/04/2026

Many business owners are working hard — but still don’t have a clear picture of how their business is performing.

Without accurate, up-to-date information, it’s difficult to make confident decisions or plan ahead.

That’s where the right support can make a real difference.

We work with clients to improve visibility over their numbers, strengthen cash flow, and provide practical advice that supports better decision-making.

If you’d like a clearer understanding of where your business stands, we’re always happy to have a conversation.

19/02/2026

Looking for an accountant who takes the time to understand your situation?

At Gills Accountants & Advisors, we work closely with individuals and business owners to provide clear advice, reliable support, and practical solutions.

Whether you need help with tax, business planning, or staying organised, we’re here to help make things easier.

If you’d like to have a conversation about your situation, feel free to send us a message or get in touch.

17/12/2025