Electric vehicles (EVs) have officially shifted from a “niche” choice to a mainstream reality. By late 2025, EVs have captured over 8% of all new car sales in Australia—a massive jump fuelled largely by the Federal Government’s Electric Car Discount introduced in 2022. For many savvy business owners and employees, this policy hasn’t just been a win for the environment; it’s been a massive win for the bottom line.

However, the landscape is shifting. The government has officially launched a statutory review of these incentives. While there’s no need to panic, it is a critical moment to assess your options. Here is a breakdown of what’s happening, why the rules are under the microscope, and how you should navigate the next 12 months.

The Perks: Why Everyone is Going Electric

Currently, the “discount” isn’t a simple cash rebate. Instead, it operates through a series of powerful tax concessions that drastically lower the total cost of ownership:

• The FBT Jackpot: If a business provides an eligible EV to an employee for private use, it is exempt from Fringe Benefits Tax (FBT). Given that FBT is effectively charged at up to 47%, this exemption can slash the annual after-tax cost of a vehicle by thousands of dollars. It’s easily the most significant saving available in salary packaging today.
• The LCT “Green” Ceiling: For the 2025–26 financial year, the Luxury Car Tax (LCT) threshold for fuel-efficient vehicles is $91,387, significantly higher than the $76,950 limit for standard cars. This allows you to purchase a premium EV without triggering a 33% tax on the price difference.
• Import Duty Savings: Many eligible EVs are also exempt from the 5% customs duty, keeping the upfront acquisition price competitive with traditional engines.

Why Is the Government Reviewing the Rules?

In short: the policy was too successful. The uptake of EVs has far exceeded initial forecasts, meaning the cost to the federal budget has grown significantly.

The review is currently digging into whether the market is now strong enough to survive without subsidies, and if eligibility should be restricted to cheaper models. While public consultation is underway, the final report isn’t due until mid-2027. Any changes are likely to be “prospective,” meaning they would apply to future purchases, not the cars already on the road.

Strategy: Your Practical Move

While “review” can sound like a warning, the current rules are still legislated and very much in effect. If you are looking to update your fleet or personal vehicle, here is how to play it:

• Lock in “Grandfathering”: Historically, when tax rules change, existing contracts are “grandfathered.” By entering an arrangement now, you likely lock in the current benefits for the life of the lease, even if the laws change later (although we can’t guarantee this).
• The PHEV Deadline has Passed: Remember that as of 1 April, 2025, plug-in hybrids (PHEVs) are no longer eligible for new FBT-exempt arrangements. To get the big tax wins now, you need to go fully battery-electric or hydrogen.
• Mind the Price Limit: To qualify for the FBT exemption, the car must be below the LCT threshold at the time of purchase. Be careful with expensive optional extras—if they push you over that $91,387 mark, your FBT-free status could vanish instantly.
• Infrastructure Matters: Don’t assume your home charger is part of the deal. The tax treatment of charging infrastructure is distinct from the vehicle, so always check if it qualifies before you sign the paperwork.

The Bottom Line: The Electric Car Discount remains one of the most effective tax-saving tools in Australia. While the 2027 review introduces some long-term uncertainty, the savings today are real. If the numbers stack up for your business, there is little reason to wait.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Yvonne Shao @ Pitt Martin Tax

For many Australians, a coastal cottage or ski apartment serves two purposes. It provides a personal retreat for family getaways and, when not in use, is listed on platforms such as Airbnb or Stayz to offset holding costs.

Historically, owners often proceeded on the basis that, provided they made reasonable apportionments, most standard rental property deductions would be available. That landscape is shifting. The Australian Taxation Office has issued draft guidance in TR 2025/D1, PCG 2025/D6 and PCG 2025/D7, signalling a much firmer compliance stance on properties that mix private enjoyment with rental activity.

Although these documents remain in draft form, they clearly indicate how the ATO intends to approach holiday home claims in the near future.

The Core Issue: Investment Asset or Lifestyle Property?

At the heart of the new guidance is a distinction between properties genuinely operated with a commercial objective of maximising rental returns and properties primarily held for private lifestyle purposes, with rental income playing a secondary role.

The ATO reiterates that all rental income must be reported, regardless of whether it arises from short term stays, occasional bookings, or informal arrangements.

However, the more significant development concerns deductions. Where a property is characterised as a holiday home rather than a bona fide income producing investment, the ATO may deny deductions for holding costs such as interest on loans, council rates, land tax, insurance, and repairs and maintenance.

This denial may apply even if the property is rented at market rates for part of the year. In such cases, deductions could be restricted to certain direct expenses linked specifically to rental activity, such as cleaning or advertising.

In assessing whether a property is genuinely commercial, the ATO is likely to scrutinise factors such as whether peak holiday periods are reserved for private use, irregular or limited advertising, rental pricing that exceeds market comparables, and repeated tax losses over multiple years. These indicators may suggest that rental activity is incidental rather than the primary purpose of ownership.

Apportionment: A Fair and Reasonable Standard

Even where a property qualifies as an income producing asset, expenses must still be divided appropriately if there is mixed private and rental use.

PCG 2025/D6 emphasises that apportionment must be fair and reasonable. Common methodologies include time based allocation, for example by reference to days rented or genuinely available for rent, and area based allocation where only part of the dwelling is rented.

Accurate record keeping is essential. The ATO has increasing access to data from booking platforms and can readily reconcile advertised availability, booking calendars and reported income. Inadequate documentation or aggressive apportionment approaches will elevate audit risk.

Potential Tax Consequences

The financial implications could be substantial. Take, for example, a holiday apartment generating $30,000 annually during quieter months but reserved for personal use during peak school holiday periods. Under the proposed approach, the ATO may determine that the property is essentially a private holiday home. As a result, previously claimed deductions for interest and other holding costs could be significantly curtailed, potentially increasing taxable income by tens of thousands of dollars.

Ownership structures also warrant careful consideration. Income and expenses are generally allocated according to legal ownership interests, not according to who uses the property more frequently. Furthermore, renting to family members at discounted rates can further restrict deductibility.

Recommended Actions Before the Rules Commence

The draft guidance is proposed to apply from 1 July 2026, with transitional concessions available for certain arrangements established before 12 November 2025. Nevertheless, waiting is not advisable.

Property owners should consider whether the property is genuinely operated to maximise rental returns, including during peak seasons. Rental rates should be aligned with comparable properties in the area. Robust documentation should be maintained, including booking records, advertisements, enquiry logs and detailed evidence distinguishing private and rental use.

It is also prudent to assess whether the current ownership and operational model supports a commercial profile, while being mindful of potential CGT, stamp duty and legal implications if changes are made. If seeking to rely on transitional arrangements, contemporaneous documentation will be critical.

Final Thoughts

The ATO is not eliminating deductions for holiday properties. Rather, it is tightening the boundary between legitimate investment assets and private lifestyle holdings.

With appropriate structuring, commercial conduct and comprehensive record keeping, many owners can continue to access deductions that reflect genuine income producing use.

If you hold a holiday property, now is an opportune time to undertake a strategic review. A proactive assessment today may prevent significant adjustments and unexpected tax liabilities in the future.

Need Help?

By working with us as your professional tax accountant and mortgage broker, you can be confident that your loans are structured to protect your tax position, maximise deductions, and avoid costly mistakes, giving you greater peace of mind and more control over your financial future.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

Managing a self-managed super fund (SMSF) gives trustees more control over how their retirement savings are invested. However, this control also comes with serious legal responsibilities. Many trustees underestimate how complex the rules can be, and this lack of understanding is one of the main reasons SMSFs fall into trouble.

SMSFs are governed by the Superannuation Industry (Supervision) Act 1993 (SISA), which sets out strict rules around trustee duties, investment decisions, borrowing, benefit payments, and recordkeeping. If trustees are not familiar with these rules, it becomes difficult to identify risks or prevent mistakes. For this reason, education is not optional for SMSF trustees — it is a key part of protecting the fund and its members.

Why understanding SISA matters

Understanding SISA is essential to staying compliant. Many SMSF breaches occur because trustees are unaware of key rules, such as the sole purpose test, arm’s length dealings, and in-house asset limits. Knowing these basics helps trustees identify issues early. Early detection allows trustees to seek advice before minor errors become serious breaches. Most importantly, education protects members’ retirement savings, as breaches can lead to penalties, loss of tax concessions, and remediation costs paid from the fund itself.

The ATO’s growing focus on trustee education

The ATO has released draft Practice Statement (PS LA 2025/D2) explaining when it may issue an “education direction” to SMSF trustees under section 160 of SISA. This allows the ATO to require trustees, or directors of corporate trustees, to complete training where a lack of knowledge or behaviour is seen as a compliance risk.

While the aim is to improve standards across the SMSF sector, an education direction usually means the ATO has already identified a breach or serious concern. Trustees should not wait for this to happen. Taking steps to stay informed and educated from the outset puts trustees in a far stronger position and helps avoid unnecessary compliance issues.

Practical steps trustees can take now

There are several simple and effective ways trustees can strengthen their understanding and reduce risk.

Start with official guidance.

The ATO provides free SMSF courses that cover the full lifecycle of a fund, including how to set one up, how to run it correctly, and how to wind it up. These resources are designed specifically for trustees and are a strong foundation.

• Setting up an SMSF: https://smallbusiness.taxsuperandyou.gov.au/setting-up-a-self-managed-super-fund-smsf 
• Running an SMSF: https://smallbusiness.taxsuperandyou.gov.au/running-a-self-managed-super-fund-smsf 
• Winding up an SMSF: https://smallbusiness.taxsuperandyou.gov.au/winding-self-managed-super-fund-smsf 

Test your understanding.

The ATO also offers online knowledge checks to help trustees assess how well they understand their responsibilities. While these tests are useful, a basic pass should not be seen as enough. Trustees should aim for a high level of confidence, especially in core compliance areas.

Seek professional advice early.

If something is unclear, or if a situation feels uncertain, it’s best to ask for help straight away. Early advice can often turn a potential breach into a routine fix and may reduce the risk of penalties or enforcement action.

Keep good records.

Trustees should document training completed, advice received, and the reasons behind key decisions. Clear records demonstrate an intention to comply and can be valuable if the fund is reviewed.

Final thoughts

Being an SMSF trustee brings both opportunity and responsibility. Understanding the rules is the most practical way to protect your fund, your savings, and your peace of mind. Rather than waiting for problems to arise, investing time in education now can prevent costly mistakes later and help ensure your SMSF stays on track.

Pitt Martin Group is a CPA accounting firm, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Australian Society of Certified Practising Accountants (CPA), Australian Taxation Registered Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Angela Abejo @ Pitt Martin Tax

If you’ve taken the step to upskill — whether through an MBA, a management program or another postgraduate qualification — you’ve probably wondered whether any of those costs can be claimed at tax time.

For many workers, the answer can be yes, but only when the strict ATO conditions are met. The distinction between a legitimate claim and a non-deductible expense is often quite subtle. If you get your claim right, the tax savings can be substantial. If you get it wrong, you may face an amended assessment and possibly penalties and interest.

Below, we break down the rules using a real example and outline what you should look out for.

Case Study: Sarah’s MBA Journey

Sarah is employed by the Department of Defence and recently completed an MBA through a private education provider. Her employer supported her with a $40,000 study allowance, while her MBA tuition fees came to $18,000. She deferred these fees through the FEE-HELP loan system and reported the study allowance as taxable income.

She now wants to know:

• Can she claim a deduction for her MBA tuition?
• Does using FEE-HELP affect the deductibility?
• Does the employer-funded allowance change the tax outcome?

Understanding the Impact of Your Loan Type

The tax treatment of study costs depends heavily on how the course is funded.

HECS-HELP – no deduction available
 Courses offered under Commonwealth supported places (which include most undergraduate degrees and some postgraduate programs) fall under the HECS-HELP system. The tax law specifically blocks any deduction for these tuition amounts — even when you pay upfront, and even when the study is directly relevant to your work.

FEE-HELP – deduction might be available
 Full-fee courses, which typically use FEE-HELP, are treated differently. If the study has a strong connection to your current role or income-earning activities, the course fees may be deductible. Only the tuition fees are deductible, not the later FEE-HELP loan repayments.

Practical tip:
 Check your statement to confirm whether your enrolment is under HECS-HELP or FEE-HELP. Only FEE-HELP or privately paid fees give rise to potential deductions.

The “Nexus” Test: How the Study Connects to Your Current Role

Once the funding method is clear, the next test is purpose. The ATO only allows deductions when the study maintains or improves skills directly used in your present job, or when the qualification is likely to increase the income you earn in the same role.

If the study is undertaken as a pathway into a new occupation, the deduction will be denied.

A 2024 ATO ruling provides helpful guidance:

• Approved: A retail manager completing an MBA to enhance leadership and business management skills already used in the job.
• Rejected: A salesperson undertaking an MBA with the intention of moving into a consulting career. The link to current duties was too weak.

For Sarah, the key question is whether her MBA subjects — such as strategy, leadership or policy — enhance her existing responsibilities within the Defence department. The fact that her employer provided a study allowance supports relevance but doesn’t automatically guarantee deductibility.

It’s also possible that only parts of a course are sufficiently related. Fees for subjects directly tied to current duties may be deductible, while more general or unrelated modules may not be.

Employer-Funded Allowances and Loan Repayments

The $40,000 allowance Sarah received is treated as taxable income, similar to wages. However, that does not prevent her from claiming eligible self-education deductions for the course fees.

FEE-HELP or HELP loan repayments made in later years are not deductible. Deductions relate to when the tuition expense was incurred, not when the loan is repaid.

How to Approach Your Claim

If you’re considering claiming study expenses, keep these steps in mind:

• Confirm the loan structure – FEE-HELP and private fee payments may be deductible; HECS-HELP never is.
• Keep solid records – Save course outlines, proof of enrolment, job descriptions and emails showing how the study supports your role.
• Claim only what’s tied to your current work – Eligible items might include course fees, textbooks, equipment, and potentially travel.
• Expect possible ATO scrutiny – Large self-education claims are frequently reviewed. If the amounts are significant, consider obtaining a private ruling for certainty.

Final Thoughts

For many employees, postgraduate study — including an MBA — can deliver both professional growth and valuable tax benefits, but only when the course clearly relates to your existing role.

Handled correctly, the tax deductions can be substantial. In Sarah’s case, an $18,000 course could translate into a refund of more than $5,000.

If you are thinking about enrolling in further study, or are unsure about claiming previous expenses, reach out before you lodge. A quick discussion can ensure your next qualification delivers the best possible outcome for both your career and your tax position.

Need Help?

By working with us as your professional tax accountant and mortgage broker, you can be confident that your loans are structured to protect your tax position, maximise deductions, and avoid costly mistakes, giving you greater peace of mind and more control over your financial future.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

Running a business already means keeping several moving parts under control — paying employees correctly, managing budgets, and staying on top of compliance. From 1 July 2026, another major shift will join the mix: a new system that changes the timing of superannuation payments.

Known as Payday Super, this reform officially became law on 4 November 2025. It aims to close Australia’s $6.25 billion in unpaid super and ensure workers — particularly casual and part-time employees — receive their retirement savings consistently and on time.

What’s Changing?

Starting from 1 July 2026, employers will need to pay superannuation guarantee (SG) contributions in line with each pay run, instead of weeks or months later. You’ll have seven business days after paying wages to ensure the contributions reach employees’ super funds.

If payments don’t meet the deadline, the Superannuation Guarantee Charge (SGC) will apply. This includes the unpaid super, an interest component, and an administration fee. Once the SGC has been assessed, further interest or penalties may be charged if the liability remains unpaid.

A key difference under the new system is that SGC amounts will generally be tax-deductible, though penalties for paying SGC late won’t be deductible.

Another notable change: the ATO will retire the Small Business Superannuation Clearing House (SBSCH) on 1 July 2026 for all users, meaning businesses will need alternative ways to process super contributions.

Beyond compliance, the Government expects this shift to meaningfully improve retirement balances. Earlier contributions could increase the average worker’s super by approximately $7,700 over their working life.

Why This Can Benefit Businesses

Although it may look like an extra step at first, Payday Super can streamline your internal processes and strengthen employer credibility.

• Less administration
Aligning super with payroll removes the pressure of quarterly payment deadlines.

• Lower compliance risk
More frequent reporting and ATO data-matching means issues can be detected early, reducing the risk of accumulating penalties.

• Improved employee trust
Employees will be able to see contributions arriving regularly, potentially improving engagement and staff satisfaction.

• Better cash flow planning
Paying smaller amounts more often can be easier to manage than large, irregular quarterly payments.

For the first year of implementation, the ATO will use a risk-based approach, prioritising education and support. Businesses that consistently pay on time are likely to be considered low risk and face fewer compliance interactions.

How to Prepare

There’s still time before Payday Super becomes mandatory, but early preparation will help make the transition smoother.

1. Review your payroll software

Most major platforms (such as Xero, MYOB and QuickBooks) already support or are adapting for payday-aligned super. Check whether your system needs updates or configuration changes.

2. Review your pay cycle

Consider how frequently you pay staff and map out the seven-day window after each pay run to ensure contributions are made on time.

3. Update internal processes

Ensure your payroll team — or anyone involved in processing wages — understands the new rules. The ATO offers free learning materials and information sessions to help businesses prepare.

4. Make adjustments to cash flow planning

If you’re used to quarterly super payments, try moving toward more regular payments now to understand how this affects cash flow. Smaller, frequent payments can help reduce financial pressure.

5. Monitor contributions regularly

Set up a routine to verify that payments have been processed correctly and have cleared into employees’ super funds. Stay alert for any further guidance from the ATO as the start date approaches.

If you outsource payroll, it’s worth speaking to your provider early. Many are already building Payday Super functionality into their systems and can help you adjust your processes.

The Bottom Line

Payday Super is more than a compliance update — it presents an opportunity to streamline payroll, improve transparency, and support your employees’ long-term financial wellbeing. With the legislation now in place and just months before the new rules commence, now is the perfect time to prepare.

If you’d like support reviewing your payroll process or planning your transition to Payday Super, our team is here to help you get everything ready before the new rules take effect.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Yvonne Shao @ Pitt Martin Tax

Picture this scenario. After years of deteriorating health, you are forced to exit the workforce and rely on a Total and Permanent Disability (TPD) pension from your superannuation fund. That pension becomes your only source of income. At the same time, your medical needs escalate, and you spend tens of thousands of dollars on treatment simply to manage the condition that ended your career in the first place. It seems reasonable to think that those medical expenses should be deductible, given the disability is the reason the pension is paid. A recent tribunal decision shows the tax law does not always follow that logic. In Wannberg v Commissioner of Taxation [2025] ARTA 1561, the Administrative Review Tribunal (ART) confirmed the ATO’s stance that almost $100,000 in medical expenditure was not deductible. The case is a sobering example of how the tax system separates the act of earning income from the realities of maintaining personal health.

A Closer Look at the Wannberg Case

The taxpayer, Mr Wannberg, had withdrawn from employment due to serious physical and psychological injuries arising from long-term abuse. His TPD pension was the sole income supporting him. In 2024, he approached the ATO for a private ruling on whether approximately $98,000 of medical fees could be deducted. These included psychotherapy, residential rehabilitation programs, and extensive dental treatment. His reasoning was straightforward: the treatments were vital for stabilising his condition and effectively allowed him to continue receiving the pension. He drew parallels to the High Court’s 2010 decision in Anstis, where a student successfully claimed self-education expenses because they were sufficiently related to her Youth Allowance. However, the ATO rejected the deduction, and the tribunal upheld that decision.

Why the Medical Expenses Were Not Deductible

The entire dispute centred on section 8-1 of the Income Tax Assessment Act 1997. For an expense to qualify as a deduction, it must be incurred in the course of “gaining or producing assessable income,” and it cannot be private or domestic in character. The tribunal determined there was no necessary link between the medical treatments and the pension income. The TPD pension was payable because of the taxpayer’s disability—its continuation did not depend on undergoing medical treatment. The treatments improved his ability to cope day to day, but they did not contribute to generating the pension. Because of this lack of nexus, the expenses were categorised as private, similar to general medical bills, therapy sessions, or dental work, which are usually nondeductible regardless of their personal importance.

Key Lessons for Taxpayers

This decision provides important guidance for individuals receiving disability pensions, superannuation income streams, or other forms of support:

• The “nexus” requirement is strict: A deductible expense must be directly connected to the income you are earning. Most medical or therapeutic costs will not satisfy this test.
• Private expenses remain private: Even if treatment helps you manage a condition that affects work capacity, it generally does not convert the expense into a deductible one.
• Treatment vs assessment obligations: Some people must obtain regular medical certificates to keep a licence or accreditation needed for their job. These assessment-related costs can often be deductible. However, once it crosses into treatment, it becomes private.
• Prepare for non-deductible medical spending: Those relying on pension or disability payments should factor medical outlays into their budgeting. Explore whether private health insurance, rebates, or other concessions might ease the burden.
• Seek guidance before you spend: When large costs are involved, ask for professional advice or apply for an ATO private ruling to avoid unexpected outcomes.

Final Thoughts

The Wannberg case underscores a tough reality: tax law focuses on the connection between expenditure and income production, not the necessity of the expense for day-to-day life. Even legitimate, essential healthcare costs may fall outside the boundaries of deductibility. If you’re uncertain about whether an expense is deductible, it’s always safer to clarify the position early. Speak with us so we can help you evaluate your options, avoid pitfalls, and structure your affairs in a way that works best within the tax rules.

Need Help?

By working with us as your professional tax accountant and mortgage broker, you can be confident that your loans are structured to protect your tax position, maximise deductions, and avoid costly mistakes, giving you greater peace of mind and more control over your financial future.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

A new Bill currently before Parliament — the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025 — outlines several changes that may affect small businesses, listed companies, and the not-for-profit sector. The most widely anticipated proposal is the extension of the $20,000 instant asset write-off for an additional year, through to 30 June 2026.

Instant Asset Write-Off: Extended Support for Small Businesses

If passed, the measure would allow small businesses with an aggregated annual turnover below $10 million to continue claiming an immediate deduction for eligible assets costing less than $20,000 (excluding GST). The threshold applies on a per-asset basis, meaning businesses can claim multiple deductions as long as each item falls under the limit.

To qualify, the asset must be first used or installed ready for use by 30 June 2026. This write-off remains one of the most practical tax incentives available, as it allows the full deduction in the year of purchase rather than spreading depreciation over several years. For many businesses, this helps manage cash flow and supports investment in tools, equipment, or technology upgrades. A tradesperson replacing tools or a café acquiring kitchen equipment, for example, can claim the deduction upfront and redeploy cash into other parts of their operations.

Although the measure is still before Parliament, now is a good time to plan ahead. Businesses considering upgrades or new acquisitions should ensure that lead times, delivery schedules, and installation timing align with the proposed deadline should the Bill be enacted.

Stronger Disclosure Obligations for Listed Companies

The Bill also introduces reforms to the Corporations Act 2001 by requiring the disclosure of equity derivative interests — including options, swaps, and short positions — under the substantial holding regime. The intention is to enhance market transparency and reduce the likelihood of control interests being obscured through complex derivative arrangements.

For listed entities, these reforms will likely increase compliance requirements and may necessitate updates to internal monitoring and reporting systems. Investors with substantial positions should also review their existing arrangements to ensure they remain compliant under the proposed rules.

Greater Transparency in the Charity Sector

For not-for-profits, the Bill proposes granting the ACNC Commissioner the authority to publicly disclose certain “protected information” where a public harm test is met. This shift aims to strengthen public confidence by demonstrating that regulatory action is being taken where misconduct is identified.

For compliant and well-run charities, increased transparency can reinforce community trust. However, it also highlights the importance of robust governance, accurate record-keeping, and a clear understanding of regulatory obligations.

Changes to Oversight of Financial Regulators

The Bill would also reduce the frequency of reviews of ASIC and APRA conducted by the Financial Regulator Assessment Authority, shifting from a two-year to a five-year cycle. While largely administrative, this change reflects a move toward streamlined oversight, giving regulators more room to focus on core responsibilities rather than frequent review processes.

Planning Ahead

Although these measures are not yet law, it may be helpful to prepare early:

• Small businesses should evaluate upcoming capital expenditure and consider whether planned purchases would benefit from the instant asset write-off if the extension is enacted.
• Listed companies may want to assess whether their reporting systems can accommodate expanded disclosure requirements.
• Charities and not-for-profits should review their governance procedures to ensure they are equipped for an environment with greater transparency and potential public disclosures.

We will continue to monitor the progress of the Bill. If you would like tailored guidance on how these changes may affect your organisation or investment plans, feel free to reach out.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Yvonne Shao @ Pitt Martin Tax

If your superannuation balance is below $3 million, you can relax for now. But if your balance is nearing that amount, or already exceeds it, the Government’s proposed changes could affect how your super is taxed in the coming years.

For some time, the Government has been developing new measures to limit the generous tax concessions available to people with very large super balances. This initiative, often referred to as the Division 296 tax, aims to ensure the system remains fair and sustainable.

Recently, the proposal was updated under the Better Targeted Superannuation Concessions (BTSC) policy. The revised version keeps the same goal — reducing tax advantages for high-balance accounts — but simplifies the approach and removes some of the earlier complications that raised industry concerns.

Here’s a breakdown of what’s changing and what it could mean for you.

What’s Changing and Why

The 2023 proposal planned an additional 15% tax on earning for super balances above $3 million, including unrealised gains — meaning members could be taxed on asset growth they hadn’t cashed in.

The revised model fixes this by taxing only realised earnings, such as income and capital gains from sold assets. This change makes the system simpler, fairer, and more in line with standard tax principles.

A Tiered System for Big Balances

The new model introduces a two-tier system for people with higher balances:

• Tier 1: $3 million to $10 million – Earnings on this portion of the balance will face an extra 15% tax, bringing the total tax rate to 30%.
• Tier 2: Over $10 million – Earnings on this portion will attract an extra 25% tax, giving a total rate of 40%.

Both thresholds will increase each year in line with inflation — by $150,000 for the first tier and $500,000 for the second. This prevents “bracket creep” as balances grow over time.

The changes are planned to start on 1 July 2026, with the first tax assessments expected in 2027–28. According to Treasury, fewer than 0.5% of Australians will be affected at the $3 million level, and fewer than 0.1% will fall into the $10 million tier.

How It Works in Practice

To understand how this tax might work, here are two examples.

Example 1:
Megan has a total super balance of $4.5 million across her SMSF and an APRA-regulated fund. Her fund earns $300,000 in realised income for the year. The portion of her balance above $3 million represents one-third of her total balance, so she will pay extra tax on one-third of her earnings. Her additional Division 296 tax will be:
15% × 33.33% × $300,000 = $15,000.

Example 2:
Emma has a $12.9 million super balance in her SMSF and earns $840,000 in realised income for the year. She pays 15% on the Tier 1 portion and an additional 10% on the Tier 2 portion, bringing her total additional tax to around $115,000.

These examples show the tax increases are proportionate — only the earnings related to the amounts above the thresholds are affected.

Why It’s Better News for Most

This update will come as a welcome relief for many SMSF members, as excluding unrealised gains reduces both valuation complexities and liquidity concerns — especially for those with property or unlisted assets. On the other hand, individuals with super balances exceeding $10 million could face total tax rates of up to 40%, which may encourage a review of long-term planning. It’s important to keep in mind, however, that the legislation for this measure has not yet been introduced to Parliament, so the rules could still change before they are finalised.

Low Income Superannuation Tax Offset (LISTO)

Alongside this change, the Government has announced an increase to the LISTO.

From 1 July 2027, the LISTO income threshold will rise from $37,000 to $45,000, and the maximum payment will increase to $810. Treasury expects that affected workers will receive an average increase of around $410.

What You Should Do Now

1. Understand your total super balance (TSB)
Start by reviewing your current balance and projecting where it’s likely to sit by 2026.

2. Get professional advice early
Thoughtful planning can make a real difference. Strategies such as managing liquidity, reviewing asset allocations, and timing asset sales can help you stay flexible and tax-efficient under the new rules.

3. Stay informed
We expect draft legislation in 2026 and will keep you informed via our newsletters or online article.

Overall, the revised rules aim to simplify super for the majority, though those with larger balances may see less advantage. If your super sits near or above $3 million, taking action now will put you in the best position for what’s ahead. With the right planning, you can safeguard your wealth and move forward with confidence.

Pitt Martin Group is a CPA accounting firm, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Australian Society of Certified Practising Accountants (CPA), Australian Taxation Registered Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Angela Abejo @ Pitt Martin Tax

Unpaid ATO debts are about to become a far pricier problem for many taxpayers.

From 1 July 2025, interest charges imposed by the Australian Taxation Office — including the general interest charge (GIC) and shortfall interest charge (SIC) — will no longer be deductible for tax purposes. The rule applies to all tax debts, whether they arise from previous or future income years.

With the GIC currently at 11.17%, ATO interest ranks among the highest-cost forms of borrowing. Now that the tax deduction is off the table, those relying on ATO payment arrangements could find themselves paying a steep premium for the privilege of deferring their tax liabilities, such as arrangement of payment plan.

Refinancing ATO Debt

One way businesses can reduce the impact of these changes is by refinancing their ATO debts through a bank or other lender. Unlike the ATO’s GIC or SIC, interest on commercial loans may be deductible, provided the borrowed funds are used in connection with business activities.

For example, if the borrowing is used to pay tax liabilities directly linked to your business operations, the interest may be deductible. This could include payments for:

• Income Tax
• Goods and Services Tax (GST)
• PAYG instalments
• PAYG withholding for employees
• Fringe Benefits Tax (FBT)

However, deductibility will depend on the nature of the underlying debt and how the borrowed funds are applied. It’s important to seek advice before proceeding, as not all refinanced tax debts will result in deductible interest expenses.

Individuals

For individuals, the tax treatment of interest on loans used to pay ATO debts depends primarily on how the tax debt arose.

• Sole traders: If you are carrying on a genuine business, and the tax debt arose from that business, the interest on money borrowed to pay that tax debt is generally tax deductible.
  
• Employees or investors: If your tax debt stems from salary and wages, rental income, dividends, or other investment income, the interest on money borrowed to pay that debt is not deductible. Refinancing may still make sense to reduce your total interest cost, but it won’t provide any tax benefit.

Example:
 Sam operates a café as a sole trader and owes $30,000 in tax, entirely arising from his business profits. He borrows $30,000 to pay this debt. The interest on that loan should be fully deductible because the debt is connected with his business activity.

However, if part of Sam’s tax debt relates to his employment income from a part-time job — say $10,000 out of the $30,000 total — then only two-thirds of the interest would be deductible (reflecting the portion of the debt linked to his business).

Companies and Trusts

For companies and trusts, the rules are similar.

If a company or trust borrows to pay its own tax debts (for example, income tax, GST, PAYG withholding, or FBT liabilities), then the interest will usually be deductible, provided the debts are connected with the business.

However, if a director or beneficiary personally borrows money to pay the company’s or trust’s tax liabilities, the interest on that personal loan would not normally be deductible to them. This is because the borrowing is not incurred in producing their own assessable income.

Partnerships

The situation becomes more complex with partnerships.

If the borrowing occurs at the partnership level and is used to pay a tax debt arising from a business carried on by the partnership, then the interest should generally be deductible. This includes borrowings used to pay GST, PAYG withholding, or other business-related tax obligations.

However, the ATO has a stricter view when individual partners borrow personally to pay tax debts that relate to their share of partnership income. In such cases, the interest is typically not deductible, as it’s considered a personal expense rather than a business one — even if the partnership itself carries on a business activity.

Practical Takeaway

Leaving debts outstanding with the ATO is now more expensive than ever. With GIC and SIC no longer deductible from 1 July 2025, taxpayers can no longer rely on these interest charges being partly offset through tax savings.

If you are currently on an ATO payment plan or expect a future tax liability, it’s worth reviewing your position. Refinancing tax debts through a commercial lender could potentially offer two advantages:

1. Lower interest rates compared to ATO GIC, and
   
2. Possible tax deductibility of interest if the borrowing relates to business activities.

That said, not every refinancing arrangement will qualify for a deduction. For mixed-purpose debts (for example, partly business and partly personal), interest deductions must be apportioned.

If you’re unsure whether refinancing makes sense in your situation, it’s best to seek advice before arranging any finance. With the right structure and strategy, you can manage your tax debts more efficiently and avoid unnecessary costs.

Need Help?

By working with us as your professional tax accountant and mortgage broker, you can be confident that your loans are structured to protect your tax position, maximise deductions, and avoid costly mistakes, giving you greater peace of mind and more control over your financial future.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Zoe Ma @ Pitt Martin Tax

The Federal Government has completed its review of supermarket unit pricing — a topic that might seem purely consumer-focused but could carry real implications for businesses in the grocery supply chain.

What’s Happening

Unit pricing lets shoppers compare the cost of products using a standard measure — such as dollars per 100 grams or per litre. Since 2009, large supermarkets have been required to display these figures to help customers identify better value.

This system has operated with relatively low compliance costs and limited penalties. But that could soon change. Treasury recently consulted on strengthening the Retail Grocery Industry (Unit Pricing) Code of Conduct, with submissions open only from 1–19 September 2025 — a short window for feedback.

Why the Review

The move follows the ACCC’s supermarket inquiry, which found that while unit pricing is useful, there are still gaps. One major concern is shrinkflation — when pack sizes shrink but prices stay the same or rise.

With cost-of-living pressures still high, the Government wants pricing to be clearer and fairer, helping rebuild trust between retailers and consumers.

Possible Changes

The consultation paper proposed several reforms:

• Shrinkflation alerts – supermarkets may need to flag when a product’s size decreases without a price drop.
• Clearer displays – larger, more visible unit prices in-store and online.
• Wider coverage – applying rules to smaller retailers and online platforms.
• Standardised measures – ensuring consistent “per 100g” or “per litre” comparisons.
• Civil penalties – introducing fines for non-compliance.

Business Implications

For suppliers, packaging and labelling decisions could face greater scrutiny — especially when changing pack sizes or formats.

For retailers, new systems may be needed for shelf labels, software, or e-commerce updates. These could add costs, but they also offer an opportunity to show transparency and build consumer loyalty.

In the longer term, clearer pricing may affect how products are positioned, marketed, and priced across the sector. Businesses that prepare early can avoid disruption once the new rules are introduced.

What’s Next

Now that submissions have closed, Treasury will review feedback and the Government is expected to announce its response later this year.

Companies involved in food, grocery, or household goods should monitor the outcome closely. The upcoming reforms could shape packaging, pricing, and compliance obligations across the industry.

At Pitt Martin Tax Pty Ltd, we can help you assess potential compliance costs, evaluate financial impacts, and prepare for these regulatory changes. If your business sells or supplies to supermarkets, now is a good time to review your pricing systems and get ready for what’s next.

Pitt Martin Group is a firm of Chartered Accountants, providing services including taxation, accounting, business consulting, self-managed superannuation funds, auditing and mortgage & finance. We spend hundreds of hours each year on training and researching new tax laws to ensure our clients can maximize legitimate tax benefit. Our contact information are phone +61292213345 or email info@pittmartingroup.com.au. Pitt Martin Group is located in the convenient transportation hub of Sydney’s central business district. Our honours include the 2018 CPA NSW President’s Award for Excellence, the 2020 Australian Small Business Champion Award Finalist, the 2021 Australia’s well-known media ‘Accountants Daily’ the Accounting Firm of the Year Award Finalist and the 2022 Start-up Firm of the Year Award Finalist, and the 2023 Hong Kong-Australia Business Association Business Award Finalist.

Pitt Martin Group qualifications include over fifteen years of professional experience in accounting industry, membership certification of the Chartered Accountants Australia and New Zealand (CA ANZ), membership certification of the Australian Society of Certified Practising Accountants (CPA), Registered Australia Tax Agents, certified External Examiner of the Law Societies of New South Wales, Victoria, and Western Australia Law Trust Accounts, membership certification of the Finance Brokers Association of Australia Limited (FBAA), Registered Agents of the Australian Securities and Investments Commission (ASIC), certified Advisor of accounting software such as XERO, QUICKBOOKS, MYOB, etc.

This content is for reference only and does not constitute advice on any individual or group’s specific situation. Any individual or group should take action only after consulting with professionals. Due to the timeliness of tax laws, we have endeavoured to provide timely and accurate information at the time of publication, but cannot guarantee that the content stated will remain applicable in the future. Please indicate the source when forwarding this content.

By Yvonne Shao @ Pitt Martin Tax