TAXATION AND BUSINESS ADVISORS

The ATO regularly highlights compliance risks that affect small businesses. One issue that continues to arise is where shareholders of private companies use company money or assets for personal purposes. If these situations are not managed properly, they can trigger Division 7A tax consequences. Understanding Division 7A Division 7A is designed to prevent shareholders of private companies from accessing company profits tax-free. The rules ensure that when a company provides f

ATO Compliance Crackdown: 5 Steps Small Businesses Should Take The Australian Taxation Office is increasing its focus on small business compliance. As Angela Allen, Assistant Commissioner at the ATO, recently noted: “Every year we see small businesses run into avoidable issues because they haven’t kept accurate records, reported all their income or managed their cashflow effectively.” For many businesses the issue is not deliberate non-compliance, but simply poor systems, wea

Compliance Focus The ATO has confirmed that outstanding SMSF lodgements are a key compliance priority in 2026 . As of 31 December 2025, more than 93,000 SMSFs had one or more overdue lodgements , including roughly 20,000 funds that have never lodged an annual return . Why Lodgement Matters The regulator emphasises that lodgement is the cornerstone of compliance . Timely reporting demonstrates that trustees are meeting their obligations and enables the ATO to monitor the integ

Demand for Control Over Super Despite ongoing discussion about superannuation policy and potential tax changes, demand for Self‑Managed Super Funds continues to grow. For many Australians, the attraction lies in control over investments, strategy and long‑term retirement planning. Strongest Growth in Years Almost 14,500 SMSFs were established in the first quarter of FY2026 alone, making it one of the strongest quarters recorded since the ATO began reporting the data in 2012.