Latest News
The latest news in finance for McFillin Accounting.
Government to wind back electric vehicle FBT exemption in three stages
The Government has announced a staged wind-back of the current Fringe Benefits Tax (FBT) exemption for electric vehicles (EVs), following recommendations from the Statutory Review of the Electric Car Discount released in May 2026.
SMSF year end reminder – what to check before 30 June
The end of the financial year is fast approaching. Here is a checklist of the things SMSF members and trustees should consider before 30 June.
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.
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. The ATO has now launched a simple, powerful solution: the ‘verify call’ feature in the free ATO app.
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.
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.
The ATO Targets FBT on Work Vehicles: Don’t Let Assumptions Cost You
The ATO is turning up the heat on employers who provide work vehicles for private use. Sophisticated data-matching means assumptions and shortcuts can quickly lead to audits, penalties, interest charges – and even reputational damage.
ATO Update on Inherited Homes: What it Means for Your Family’s Wealth
The ATO has issued a Draft Taxation Determination TD 2026/D1 which looks at how inherited family homes are treated for CGT purposes.
DPN Review: A Wake-Up Call for Business Owners on Personal Tax Risks
In 2024–25, DPNs skyrocketed by 136%. The stakes are high, and now the Tax Ombudsman is reviewing how the ATO issues and manages these notices- a development all directors should take seriously.
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