Latest News
The latest news in finance for McFillin Accounting.
Discretionary trusts and the proposed 30% minimum tax
Discretionary trusts, often referred to as family trusts, have been a popular structure for Australian families and businesses for many decades.
SMSF and property – preparing for a smooth audit
For many SMSF trustees, property is one of the most significant assets held by their SMSF. Unlike personally owned assets, there is a legal requirement that all SMSF assets are valued each 30 June.
New reasonable travel and overtime meal rates
The ATO has released its updated reasonable travel and overtime meal allowance rates for the 2026–27 income year in Taxation Determination TD 2026/4.
Changes to Self Managed Super Fund (SMSF) borrowing rules
To ensure passage of the negative gearing and CGT discount changes that were announced in the May 2026 Federal Budget the Government agreed to make amendments to the SMSF borrowing rules.
Navigating the 2026–27 Car Thresholds
If you’re thinking about purchasing or leasing a vehicle for your business in the new financial year, it’s worth understanding the updated car thresholds that apply from 1 July 2026.
High Court Brings Greater Clarity on Trust Distributions
The High Court has recently handed down an important decision that will impact many private business groups using discretionary trusts and corporate beneficiaries.
Get Ready for 2026-27: Practical Steps SMSF Trustees Must Take Now
With the start of the 2026–27 financial year, SMSF trustees should take a proactive approach to ensure funds remain compliant and well positioned. Here is a concise checklist of the key legislative changes, compliance deadlines and practical steps trustees should prioritise.
Payday Super Has Arrived – What Employers Need to Know
From 1 July 2026, Payday Super requires employers to ensure super contributions reach employee super funds within seven business days of each payday. For many businesses, this represents a major shift from a quarterly payment cycle to a more frequent, real-time obligation.
New AML/CTF Laws – What This Means for You
From 1 July 2026, the Australian Government has extended Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws to accountants, lawyers, real estate professionals, and other professional service providers.
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