June 2026 Newsletter
Contents:
- Federal Budget 2026-27: Business outlook and tax measures
- Retiring into a property owned by your SMSF
- Cash flow pressures continue to impact Aussie businesses
- Thousands of Aussie investors risk ATO crackdown this tax time
- The $500 valuation every property-investor needs by 30 June 2027
- ATO releases finalised guidance on deductions for holiday homes
- Announcements
Federal Budget 2026-27: Business outlook and tax measures
The Federal Government has handed down its 2026–27 Budget, outlining a range of tax changes and spending measures.
The Australian Chamber of Commerce and Industry (ACCI) said the Budget is a missed opportunity to reset Australia’s economic settings and reverse a long‑running period of economic decline.
While there are some positives, such as specific tax incentives for investment and measures to ease regulation, the overall settings will increase tax and weigh down on business activity and broader investment.
Retiring into a property owned by your SMSF
Michael Hallinan, special counsel for SUPERCentral, said SMSF trustees need to devise strategies for extricating the property from a holding trust and then transferring it either to the member or a third-party buyer as revenue-efficiently as possible.
“The final stage of the SMSF evolution in Australia is the move into retirement by trustees. For some, the dream is to retire into their investment property bought and being paid off by their SMSF,” Hallinan said.
Cash flow pressures continue to impact Aussie businesses
The April Business Risk Index results from CreditorWatch shows Australian businesses are being hit by a three-way squeeze: inflation and energy costs are lifting operating expenses, higher interest rates are tightening credit as well as debt-servicing capacity, and weak consumer demand is limiting the ability to pass costs on.
The Reserve Bank of Australia’s May Statement on Monetary Policy indicates inflation remains above target, with higher fuel prices adding to inflation. There are signs that these costs are likely to have second-round effects on broader goods and services prices.
Thousands of Aussie investors risk ATO crackdown this tax time
Aussies chasing bigger refunds warned they could be in trouble this EOFY as ‘too good to be true’ tax hacks explode online, with investors and side hustlers in the firing line.
The Australian Taxation Office has sounded a warning just weeks out from the end of the financial year, warning rental income, cash jobs, work-related deductions and online side gigs were all under scrutiny.
ATO Assistant Commissioner Anita Challen said a surge in online “tips”, particularly from AI tools and so-called finfluencers, was fuelling dangerous misinformation.
The $500 valuation every property-investor needs by 30 June 2027
The 2026 Budget quietly created a tax obligation that will catch out millions of property-owning Australians. Accountants who flag it early can help protect five-figure tax outcomes per client.
Every accountant with property-investing clients should be having one specific conversation this year: do you know what your investment property will be worth on 30 June 2027? Because if the answer is no, and the client sells after 1 July 2027, the difference between a $500 registered valuation and the ATO’s default formula can run to tens of thousands of dollars in capital gains tax per property.
ATO releases finalised guidance on deductions for holiday homes
The tax ruling and practical compliance guidelines outline the ATO’s views on when expenses can be claimed for rental properties that double as holiday homes.
The Tax Office has published detailed guidance to explain how it assesses rental property income and expenses where a client has a rental property that also doubles as a holiday home.
The new taxation ruling, TR 2026/1, and practical compliance guidelines, PCG 2026/2 and PCG 2026/3, provide updated advice and guidance on when income received for the use of a rental property will be assessable income and when expenses incurred can be claimed as deductions.
Announcements:
This month we have no birthday’s to celebrate!|
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Important ATO Dates
| Lodgement Program | Date |
| April monthly activity statements | 26/05/2026 |
| May monthly activity statements | 22/06/2026 |
| End of financial year – Start preparing STP Finalisation Report, are you ready for Payday Super? | 30/06/2026 |
Other News
Quickbooks Online – Upgrade to Open Banking feeds
Is your bookkeeping ready for the “Open Banking” era? QuickBooks is currently upgrading its bank feed connections, and the legacy system you are currently using is set to be retired on 31 May 2026 now extended to August.
To ensure your data remains accurate and your bank transactions continue to flow without disruption, we recommend completing this upgrade as soon as possible.
Need a Hand with the Transition?
While QuickBooks offers their own online and phone support, we know these transitions can feel a bit “involved.” If you’d rather skip the long support queues and get straight to the solution, our team is here to help.
We can provide personalized assistance to walk you through the setup and ensure everything is mapped correctly.
Ready to upgrade? Please contact our office today to schedule a time for one of our team members to assist you with the transition.
Taxable Payments Annual Report (TPAR)
The Taxable payments reporting system applies to businesses that make payments to contractors for the following services:
- building and construction
- cleaning
- courier or road freight
- information technology (IT)
- security, investigation or surveillance.
Businesses that provide the above services and pay contractors to deliver them on their behalf may be required to report payments made to contractors by lodging a TPAR by 28 August every year.
Contractors can include subcontractors, consultants and independent contractors. They can operate as sole traders (individuals), companies, partnerships or trusts.
Xero Price Increase
From 1 July 2026, subscription prices for Xero plans are increasing in Australia.- Ignite plan increases to $37 per month
- Grow plan increases to $78 per month
- Comprehensive plan increases to $107 per month
- Ultimate 10 plan increases to $143 per month
- Ultimate 20 plan increases to $180 per month