Insights and articles.
Practical guidance on tax, accounting, and business strategy from the EEA Advisory team.
Director penalty notices: how a Queensland company director becomes personally liable for PAYG, GST and super
This post explains the significance of a Director Penalty Notice in Queensland and how unpaid company obligations can attach to a director personally. It outlines scenarios like missing PAYG instalments, GST, and superannuation liabilities. When a notice is issued, the ATO starts a strict twenty one day countdown before enforcing collection powers against directors. Learn how understanding this tool and acting within the short window can help protect personal assets and credit standing.
TPAR due 28 August: which Queensland businesses must lodge and the penalties for missing it
The TPAR due on 28 August is a critical compliance date for Queensland businesses that pay contractors. This guide explains who is required to lodge and outlines the penalties that the ATO may impose for late submissions. It provides clear steps to get back on track if your report is overdue while keeping both your contractors and the tax office satisfied. Read on to ensure accuracy and avoid costly fines.
Minimising capital gains tax inside an SMSF before and after a member starts a pension
Selling an SMSF asset brings a critical tax decision for trustees. Understanding whether the fund is in accumulation or pension phase is essential to optimise capital gains tax outcomes. This article demonstrates how switching to a retirement income stream can lower tax rates, sometimes to zero. It also emphasises the importance of accurate record keeping to maximise benefits while staying compliant with the ATO. With detailed steps and practical tips, trustees can secure more of their earnings effectively.
Queensland payroll tax on contractor payments: when your subcontractors push you over the threshold
Queensland businesses often rely on subcontractors for specialised skills, but payments to these workers can unexpectedly count as taxable wages. This may push wage bills beyond the 1.3 million dollar threshold, forcing companies to register and remit payroll tax. The guide explains when subcontractor payments count, how exemptions work, and offers practical steps to avoid costly penalties. It also highlights risks for grouped entities and provides clear advice for staying compliant.
Division 7A director loans in 2026: benchmark interest rate, minimum repayments and what triggers a deemed dividend
Division 7A ensures director loans are managed on strict commercial terms. The guide explains the ATO benchmark interest rate and repayment formula required for compliance. It shows how failing to document or repay the loan can result in a taxable dividend. The article also covers upcoming changes for the 2026–27 income year to help you manage Division 7A risk before financial year-end. Protect your business and personal finances with these essential tips.
SMSF death benefit nominations: binding, non-binding and reversionary options for members
Super does not follow the ordinary pathway of your will and the fund deed takes precedence in an SMSF. This article explains how Trustees must pay out death benefits by following superannuation law and any nomination you have made. It unpacks the differences between binding and non binding nominations as well as reversionary pensions. Understanding these options helps ensure a smooth and tax effective transfer of benefits while avoiding common pitfalls.
How the ATO reviews your SMSF asset allocation and diversification in 2026
In 2026 the ATO reviews SMSF asset allocation by comparing the written investment strategy, actual asset mix and members' personal circumstances. Trustees must provide clear documentation with realistic investment ranges to avoid regulatory penalties. A poorly defined strategy can trigger closer scrutiny from both the regulator and auditors. Maintaining a tailored and regularly updated strategy is essential for staying compliant and safeguarding your super fund's future.
Winding up an SMSF: the compliant exit when it no longer makes sense
Closing an SMSF is not simply about emptying the bank account. Trustees must follow a structured roadmap to meet ATO guidelines and avoid hidden tax issues. This guide explains why a self managed super fund may no longer be worth the effort and outlines every required step under the Superannuation Industry Supervision Act. It discusses common triggers such as rising costs, time constraints and family changes that affect fund viability. Trustees can confidently progress towards closure with clear, manageable advice.
Non-arm's length income traps that can tax your SMSF earnings at 45 per cent
Self managed super funds usually benefit from a concessional 15 per cent tax rate but can face a 45 per cent penalty when income is deemed non-arm's length. The Australian Taxation Office applies Division 295 to override the standard rate if transactions are not conducted on commercial terms. Trustees and advisers must understand and avoid these pitfalls to protect retirement savings. The rules now extend to both income and expenditure, with even pension funds in retirement phase affected.
Should you set up an SMSF in 2026? The balance thresholds where running costs actually stack up
In 2026, an SMSF remains attractive for those with at least two hundred thousand dollars in super, providing hands-on control and investment flexibility. Below this level, fixed running costs can outweigh the benefits of an SMSF. As your balance moves above three hundred thousand dollars and closer to five hundred thousand, the cost gap narrows compared to APRA-regulated funds. New legislation introduces additional tax on large super balances, prompting trustees to carefully balance running costs with tax implications.
Buying commercial property through an SMSF and leasing it back to your own business
Discover a proven strategy where Australian business owners purchase their business premises through a Self Managed Super Fund and pay rent to the same fund. This method channels rental payments into retirement savings while keeping control of the workspace. It offers advantages such as tax concessions and security of tenure, provided the rules and ATO guidance are followed closely. However, shortcuts can lead to severe tax penalties. This guide explains every angle of the opportunity and practical steps to stay within the law.
In-specie transfers into an SMSF: moving shares and business property without triggering a tax bill
This guide explains the process of transferring assets in their current form directly into an SMSF. It details how listed shares and business real property can be transferred without converting them to cash. The guide also explores when capital gains tax may be triggered and outlines the necessary valuation and compliance steps. Trustees and business owners will gain confidence in managing their superannuation through clear advice and practical tips.