News
Your EOFY Strategy Starts Now
With June 30th less than seven weeks away, now is the time to shift from daily operations to strategic planning. At Forsyths, we aren’t just here to wrap up the financial year of all your hard work and lodge your return; we are here to ensure your hard work results in the best possible financial outcome for the year.
Do you know a local charity who do great work within the community?
It’s that time of year again where the Forsyths Foundation proudly donates funds to worthwhile community organisations in our region.
If you know of any organisations that make a difference in the community, please reach out to your local Forsyths office.
Superannuation contribution caps to increase from 1 July 2026
Following the recent release of the December 2025 quarter average weekly ordinary times earnings (AWOTE) the annual concessional contribution (CC) cap will increase from $30,000 to $32,500 from 1 July 2026. The annual non-concessional contribution (NCC) cap will also increase to $130,000.
New ATO ‘Verify Call’ feature: Instant protection against phone scams
As tax time approaches, so does the annual spike in scam calls pretending to be from the ATO. These calls are becoming increasingly
convincing and increasingly costly for those who get caught by them.
The ATO has now launched a simple, powerful solution: the ‘verify call’ feature in the free ATO app. Rolled out in early April 2026, it
allows you to confirm instantly and in real time whether the person calling you is genuinely from the ATO.
Practical help for businesses impacted by fuel disruptions
With global fuel supply chains still under strain from conflict in the Middle East, many Australian businesses are feeling the impact
through higher operating costs, delayed deliveries and pressure on cash flow.
To help stabilise affected sectors, Treasurer Jim Chalmers and the ATO have announced a package designed to give businesses immediate
breathing room and reduce administrative burden during a volatile period.
ATO updates EV home charging rate: What it means for you
The ATO has announced a significant update that will affect anyone using electric vehicles (EVs) or plug-in hybrid electric vehicles (PHEVs) for work or fleet purposes and where the vehicle is charged at the relevant individual’s home.
ATO relief and lending extensions - What it means for your business
In a direct response to the ongoing fuel supply disruptions and rising cost pressures, Treasurer Jim Chalmers has announced a suite of temporary relief measures designed to give Australian small businesses and farmers some much-needed breathing room.
Smarter valuations in business sale transactions
When selling a business or even a slice of one, how you value the assets involved can have a major impact on the tax bill. A recent Full Federal Court decision, Kilgour v Commissioner of Taxation [2025] FCAFC 183, offers timely guidance on how “market value” is really determined for capital gains tax (CGT) purposes.
A wake-up call for family businesses on fringe benefits tax
As Fringe Benefits Tax (FBT) lodgement season approaches, family businesses should carefully review the perks they provide to working directors and family members. A high-profile case involving luxury vehicles provided to three brothers who run a large business empire through a discretionary trust highlights the complexities and potential risks of informal arrangements
What the New Div 296 Tax Means for Individuals with Large Super Balances
The Better Targeted Superannuation Concessions measure (known as the Division 296 tax) is now law and takes effect from 1 July 2026. For those with large super balances, it’s important to understand what the new tax does, why it’s been introduced, and the practical steps you and your financial adviser should consider.
Keeping your self-managed super fund compliant
Self managed superannuation funds (SMSFs) can offer significant flexibility, allowing the members to make investments and enter arrangements that may not be available through retail or industry superannuation funds. However, being an SMSF trustee does come with important responsibilities to ensure that all dealings comply with superannuation law.
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