Newsletter – March 2026

 

March 2026 Newsletter

  Contents:

  • Payday super: Changes for employers from 2026
  • Aussies call out tax dodgers in record numbers
  • Workplace injury: What employers need to know
  • Important Super changes from July 2026
  • Protecting your myGov account from fraudsters
  • Announcements

Payday super: Changes for employers from 2026

Australia’s superannuation system is about to undergo a shift, with new Payday Super rules taking effect from 1 July 2026. 
The reform will require employers to pay super guarantee (SG) contributions at the same time as wages, replacing the quarterly payment cycle.
The Victorian Chamber is encouraging members to consider their readiness: are you across the new payday super requirements and prepared for the transition to paying super on payday from 1 July 2026?

 

Aussies call out tax dodgers in record numbers

The Australian Taxation Office (ATO) has hit a major milestone of over 300,000 tip-offs from the community about tax avoidance and other dishonest behaviours since 1 July 2019. In the 2024–25 financial year alone, almost 50,000 red flags were raised by the community who spotted something suspicious.

 

Workplace injury: What employers need to know

A normal day at work can change quickly when someone reports an injury. Whether the injury is physical or psychological, the moment a worker notifies you, your legal responsibilities begin. 
The first 10 days are the most important period in the WorkCover process. What an employer does during this time can influence the direction of a claim, the costs involved and the support the worker receives.

Important Super changes from July 2026

The general transfer balance cap will increase from $2 million to $2.1 million on 1 July 2026 following the release of the December 2025 quarter Consumer Price Index values this week.
The TBC is the maximum amount of retirement savings that can be moved into a tax-free retirement phase account like a pension and was increased to $2 million on 1 July 2025.
 

Protecting Your myGov Account

We want to bring an important security matter to your attention regarding myGov and Services Australia.

There has been recent speculation that a significant breach occurred last year, affecting an estimated 10,000 myGov accounts. While the news has been kept relatively quiet, the impact on individuals has been very real. Here is what you need to know to stay protected.

How the Fraud Works

Hackers have been accessing compromised myGov accounts to lodge fraudulent amended tax returns. These scammers often claim up to $20,000 in false deductions.

While in most cases hackers failed to change the bank details to their own bank account, the result is often a “confused” refund process. You might experience:

  • Receiving a large, unexpected refund in your bank account.
  • Receiving an amended Notice of Assessment (NOA) for a refund you didn’t apply for.
  • An NOA stating a refund is due, but saying bank details are “unavailable.”

Important Note: If you receive an unexpected refund or an amended NOA, contact us immediately. Do not spend the money; the ATO will eventually identify the error and insist on the full amount being returned.

5 Essential Steps to Secure Your Account

To minimize the risk of your identity being compromised, we strongly recommend implementing these security measures:

  1. Switch to Passkeys: Passkeys are far more secure than traditional passwords. They link to your device’s security (like FaceID or a PIN), meaning you don’t have to remember a password, and hackers can’t “guess” their way in.
  2. Link your Digital ID: Use the myID app (formally myGovID) to sign in. Setting this to the highest identity strength is the most robust way to protect your ATO data from identity crime.
  3. Use the Official myGov App: Using the app allows you to sign in with biometrics (fingerprint or facial recognition). It also provides push notifications, which are a much safer way to receive alerts than SMS or email.
  4. Never Click on Links: This is a golden rule. myGov will never send you a text or email with a link to sign in. Always access your account by typing my.gov.au directly into your browser.
  5. Make Checking a Habit: Treat your myGov account like your bank account. Log in regularly to ensure your contact details haven’t changed and to review your inbox for any unfamiliar transaction histories.

 


Announcements:

This month Becky (1) brings up a significant work anniversaries, congratulations Becky!
 
We wish a very Happy Birthday to Linda in the Ararat office this month!
 

 
   
 

Important ATO Dates

Lodgement Program  Date
February monthly activity statements 21/03/26
FBT Odometer Readings to Watts Price (only if still applicable) 31/03/26
   

Other News

 

Payday Super is nearly here!

Is your business ready for the biggest change to payroll in decades?

From 1 July 2026, Payday Super will change how and when super is paid, how it’s reported to the ATO, and could have a noticeable impact on your cash flow if you’re not prepared.

Join us for practical guidance, expert insights, and clear next steps.

 

Why You Need to Attend

The move to “Payday Super” (PDS) isn’t just a date change—it’s a total shift in how you manage your business cashflow and compliance. We will address your main concerns around:

  • Cashflow
  • Compliance Risks
  • Tech Integration
  • Employee Reactions
     

Seminar Dates & Locations

Join us at a location near you. All sessions begin at 5:15 PM.

Date Location Venue
Wed 22 April Ararat TBC
Mon 27 April Rupanyup TBC
Wed 29 April Horsham TBC
Mon 4 May Stawell TBC

 

What we’ll be covering:

  • The Fundamental Changes: Moving from OTE (Ordinary Time Earnings) to the new “Qualifying Earnings” concept.
  • Cashflow Management: Strategies to ensure you aren’t caught short on payday.
  • SBSCH Closure: What to do before the 30 June 2026 shutdown.
  • Compliance & Penalties: Understanding the “7-Day Rule” and how to stay in the ATO’s “Low Risk” zone.
  • Readiness Checklist: Practical steps to take with your payroll software (Xero, MYOB, etc.).
  • Integration: Aligning PDS with your existing Single Touch Payroll (STP) & employer obligations.

Cost: It’s free!

More details to come soon!



Victorian Primary Producer Bushfire Recovery Grants

The Victorian Government has recently announced measures to support Victorian primary producers impacted by the January 2026 bushfires. These measures include grants of up to $75,000 to assist with the costs of clean-up and reinstatement of primary production enterprises that have suffered direct damage as a result of bushfires. 

For more information


Rupanyup Office Closure

An important update regarding our Rupanyup office. It is with mixed emotions that we announce the permanent closure of our Rupanyup office. Our last day trading from this location will be Tuesday, December 23, 2025. We want to express our deepest gratitude for the incredible support, loyalty, and friendship you have shown us since we first opened our doors here in Rupanyup.
 
Continuing Your Service
While the Rupanyup office is closing, please be assured that we remain fully committed to supporting all our clients. You will continue to receive the same dedicated service through our nearby offices:
Location Address Phone Number
Horsham 44 Wilson Street 03 5382 3001
Stawell 142 Main Street 03 5358 5066
Ararat 70 Vincent Street 03 5352 4738
 
Contact Us Please contact us at 03 5382 3001 or email mail@wattsprice.com.au to schedule your next appointment or if you have any questions about this transition. We sincerely look forward to continuing our professional relationship with you from our other offices.
 
Thank you once again, from the entire team at Watts Price Accountants.
 
P.S. The office premises at 16 Cromie Street, Rupanyup is available for sale. Interested parties should contact Peter Knights.
 

Important Reminder re Rupanyup Mail

To ensure all correspondence and documents are processed efficiently and without delay, please refrain from sending mail to our PO Box 95 Rupanyup, Victoria 3388 address.
 
Going forward, please use mailing address: PO Box 118 Horsham, VIC 3402 Please update your records with this new address.
 
The above change also affects mail you have going directly from your financial institutions to us like bank, broker, real estate statements etc.
 
We appreciate your cooperation and attention to this matter. If you have any questions, please don’t hesitate to reach out.
 
 
 
All the best from the Watts Price Team!
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