Latest News
The latest news in finance for McFillin Accounting.
Downsizer Contributions and the Main Residence Exemption
When clients sell a long-held family home, they may be able to channel part of the proceeds into superannuation by using the downsizer contribution rules.
Holiday Homes Under the Microscope
Until recently, many owners assumed they could claim most of the usual deductions for the property without much trouble, as long as appropriate apportionments were made. However, that position is now under more scrutiny than ever.
Know the Rules Before You Break Them: Why SMSF Education Matters More Than Ever
Running, or deciding to set up a self-managed super fund (SMSF) gives you control, but it also brings legal responsibilities.
Super on Payday: Fundamental Changes for Employers
If you run a business, from 1 July 2026, there’s a major change coming that will reshape how you handle superannuation contributions for staff.
Super Tax Shake-Up: Big Balances Beware
For some time now the Government has been planning to introduce targeted measures to reduce tax concessions for those with superannuation balances over $3 million. This has commonly been referred to as the Division 296 tax.
Accessing superannuation funds for medical treatment or financial hardship
While super is most commonly accessed at retirement, death or disability, there are limited situations where earlier access may be possible.
Trust Resolutions – Why Timing and Evidence Matter
A recent decision of the Administrative Review Tribunal (Goldenville Family Trust v Commissioner of Taxation [2025]) highlights the importance of documentation and evidence when it comes to tax planning and the consequences of not getting this right.
ATO Interest Charges Are No Longer Deductible – What You Can Do
Leaving debts outstanding with the ATO is now more expensive for many taxpayers. General interest charge (GIC) and shortfall interest charge (SIC) imposed by the ATO is no longer tax-deductible from 1 July 2025.
Creating a more dynamic and resilient economy
The Productivity Commission (PC) has been tasked by the Australian Government to conduct an inquiry into creating a more dynamic and resilient economy.
Ready for Straight-Talking Advice?
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Parade,
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