September 2026 Newsletter

Contents:

The challenges of illiquid assets following relationship breakdowns
Huge rush to beat looming property tax hit
September changes to hit millions
New guidance on Renewable Energy compensation payments
Announcements

The challenges of illiquid assets following relationship breakdowns

There are several key issues to confront when trying to manage illiquid assets in an SMSF following a relationship breakdown, Peter Crump, senior consultant, private wealth, at BDO, said. “Sometimes you may have an investment in an SMSF that is locked, and there is a reluctance to talk about change of ownership,” Crump said.

Huge rush to beat looming property tax hit

Property investors are scrambling to lock in valuations a year ahead of schedule, as a looming tax shake-up is set to cost Australians $4.5bn. As part of what the Albanese government has called a once-in-a-generation tax reform, every investment property will have to be valued. Property valuation company Opteon says there has already been a 30 per cent spike in inquiries, as investors try to lock in a valuation ahead of the July 1, 2027 tax changes.

September changes to hit millions

With winter all but behind us, the official calendar change into spring this coming week will also bring some important changes for millions of Australians. Some potentially more welcome than others. The most notable will see Centrelink recipients on some of the country’s biggest support payments receive a solid cash boost, to the tune of more than $4 billion in the federal budget.

New guidance on Renewable Energy compensation payments

If a Renewable Energy project affects your land, you may receive compensation from the project operator for the impact on your land, your ability to use it, or lost income. This can include payments for temporary access, permanent easements and other disturbance-related matter. These payments can have different income tax and GST outcomes.

Announcements:

This month we wish a very happy birthday to Rebecca!

We also congratulate Vikki (3) on reaching a significant work milestones this month!

Important ATO Dates

Lodgement Program	Date
August monthly activity statements	21/09/2026
STP end-of-year finalisation declaration for closely held payees, for employers who have both closely held payees and arm’s length employees	30/09/2026
Annual TFN withholding report for closely-held trusts that withheld amounts from beneficiary payments in 2025–26	30/09/2026

Why We’re Asking You to Verify Your Identity: New AML Rules for Accounting Firms

If you’ve worked with our firm before, you might notice something different next time we set up a trust or company for you, or handle certain transactions on your behalf: we’ll be asking for photo ID, some extra details, and possibly a few follow-up questions we haven’t needed before.

This isn’t a new sales tactic, and it isn’t because we’ve forgotten who you are. It’s because of new anti-money laundering laws that now apply to accounting firms, and we wanted to explain exactly what’s changed and why.

What’s actually changed

Australia has had anti-money laundering and counter-terrorism financing (AML/CTF) laws for years, but until now they’ve only applied to banks, financial institutions and a handful of other regulated businesses. Accountants, along with lawyers, real estate agents and a few other professions, sat outside that regime entirely.

That changed on 1 July 2026, when a set of reforms known as “Tranche 2” came into effect. These reforms bring accountants under the same AML/CTF laws that banks have followed for years, when we provide certain types of services. The regulator overseeing all of this is AUSTRAC — the Australian Transaction Reports and Analysis Centre.

Other News

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.

Newsletter – September 2026