The Tax Topics on Every Accountant’s Radar in June

Payday super is coming soon. Are you ready?

Starting 1 July 2026, employers will need to pay superannuation every payday instead of quarterly. This is a major payroll change, and now is the time to prepare. The ATO's payday super guidance explains payment deadlines, how to calculate qualifying earnings, and what happens if contributions are late.

If you haven't already, now is the time to:

• Review your payroll software to confirm it can process super with each pay run and handle Single Touch Payroll reporting for qualifying earnings from 1 July.
• Check your employees' fund details. Incorrect information can lead to payment failures and possible penalties.
• Assess the cash-flow impact of paying super more frequently, especially if you are used to holding those funds across the quarter.
• The Small Business Super Clearing House will close on 30 June 2026. If you use this service, you will need to switch to another clearing house before that date.

With payday super, contributions must reach the employee's fund within 7 business days of payday, or the super guarantee charge will apply. If you need help setting this up or want us to manage your payroll, please call us.

The ATO is watching social media tax advice, and so should you

The ATO has formally warned about tax misinformation, especially misleading content online. This includes tips from AI platforms, "finfluencers," and informal advice from friends or family. The ATO is seeing more claims for automatic deductions and inflated work-related expenses that do not stand up to scrutiny.

The general rule is: if a tax tip you find online sounds too good to be true, it probably is. The ATO has made it clear that taxpayers are responsible for the accuracy of their returns, no matter where the advice came from. Incorrect claims are not just disallowed; they can also lead to audits and penalties.

If you have seen something online and are wondering whether it applies to your situation, ask us first. That is exactly what we are here for.

Rental property owners: review your records now

The ATO has released the Rental Properties Guide 2026, and there are three areas in particular to pay close attention to before you lodge:

• Repairs versus improvements: general repairs can be claimed right away, but improvements must be depreciated over time. The ATO's repair and maintenance guidance explains the difference clearly, and this is an area the ATO examines closely.
• Interest deductions for mixed-purpose loans: if your loan covers both your rental property and something else, only the part related to the rental is deductible. The ATO's rental expenses page explains how to handle interest on loans used for private purposes.
• Private use apportionment: if you use a property for personal reasons at any time during the year, only the expenses related to earning income can be claimed.

Good records are your best defence here. If you would like a rental property checklist for 2026 to ensure everything is in order before we lodge, let us know, and we will send it through.

June housekeeping: what you need to do before 30 June

There are practical tasks for both business owners and individuals to complete this month.

For small business owners:

• Reconcile your payroll and superannuation before 30 June to ensure everything is accurate and up to date.
• Finalise your STP data — the ATO requires this by 14 July for the 2025–26 financial year.
• Review any asset purchases made during the year. If you bought new equipment or business assets, gather all purchase documents, including loan schedules, so they can be included in your return.

For individuals:

• For any asset purchased for more than $300 during the year, make sure you have the cost and the exact purchase date. This allows us to calculate depreciation correctly and maximise your deduction. The ATO's guidance on depreciating assets is a useful reference if you hold investment property.

If you would like to book a tax planning meeting before the end of June, now is the time to call the office and make an appointment. These sessions fill up quickly as we get closer to 30 June.