With the budget now a week old and the noise settling down, I thought it time to provide a summary of the bits that will be most relevant to our clients. We must remember that the changes are not yet legislated, and I can’t help thinking that they may be somewhat watered down. Perhaps the… Read More Budget Thoughts 2026
Yesterday I was lucky enough to join my hubby Glenn on a Little Wings mission to collect a couple of doctors who had been doing a clinic for sick kids out West. He has been a Little Wings volunteer pilot for a couple of years now. Even won a volunteer of the year award recently… Read More Its Donation Time!
This is a reminder to our clients who are yet to send in their data to prepare their June 2025 tax returns, that the deadline looms. The deadline, as normal is the 15th May. Therefore, we have only 21 days to get the returns prepared, signed and lodged for you. Returns are prepared on a… Read More 2025 Tax Returns
No need to panic, however Turramurra Post Office recently, and rather unexpectedly, closed all its PO boxes. Therefore, we have had to change our PO Box address. Please make a note of the new address which is PO Box 3045, North Turramurra, NSW 2074 for future snail mail correspondence. Lastly, and purely for your entertainment,… Read More PO Box Change
If you are an employer, even if you are the only person on the payroll, you need to know that from 1 July 2026 there are some changes. The biggest change is that you will need to pay your employees’ super every time you pay them – i.e. on the same day. No more paying… Read More Payday Super is coming
Yesterday the Div296 legislation, which is an additional tax on the earnings of those with higher super balances, passed the Senate. The new tax will apply from 1 July 2026 ie the 2026/7 year. It will tax a proportion of earnings where an individual’s super balance is more than $3m at an additional 15%. For… Read More Div296 – has passed the Senate
After what seems like years of discussions about the proposed Div296 tax on large super balances, this week a few changes have been made which seem to address the main concerns. The good news is that the tax will no longer tax unrealised gains (this was potentially going to give some cashflow issues), and the… Read More Div296 update – Oct 25
If you are preparing your own payroll and using the Small Business Clearing House system to pay super you need to be aware it is closing soon. It will be closed to new users from 1st October 2025. Existing users will have access until 30 June 2026. This makes it a good time to transition… Read More SBCH Closing
The proposed reduction of HECs debts outstanding as at 1 June 2025 has now become law. If you had a HECs debt at 1 June 2025, it will be reduced by 20% in the coming weeks. You do not need to do anything, the reduction will happen automatically. You can check when it has been… Read More 20% off HECS
Believe it or not there is still the possibility to get some free money from the government. The superannuation co-contribution is hanging on in there for a little longer so make use of it if you can and grab up to $500 of free cash. Even better, why not pop some $ into your (working)… Read More Free Money – Co Contribution
Bridgland & Co Blog 