The Holistic Accountant
A holistic accountant goes beyond tax returns, aiming to offer proactive advice to maximise clients' wealth after all taxes. Stuart Wemyss and Mena Abraham explore multifaceted considerations weekly, highlighting the need for a holistic approach. Each episode is succinct and to the point with no fluff or sales pitches. For further details, check out www.prosolution.com.au.
The Holistic Accountant
Tax changes for 2025-26 financial year
In this episode, Mena and Stuart unpack the latest tax updates for the 2025–26 financial year, helping listeners navigate changes that could impact their personal finances and business planning. They kick off with the Super Guarantee (SG) increase to 12%, highlighting what this means for employers and employees alike. Next, they discuss the end of deductions for ATO interest charges, a significant shift that removes tax relief on General Interest Charges (GIC) and Shortfall Interest Charges (SIC) from 1 July.
Listeners will learn about the $150 energy rebate, a 30% home battery discount, and the extended $20,000 instant asset write-off, with a caution that this may drop to $1,000 next year. Mena and Stuart also cover PAYG withholding cycle adjustments, Victorian payroll tax threshold increases, and changes to luxury car tax for fuel-efficient vehicles.
With the Transfer Balance Cap (TBC) rising to $2 million, the duo explains opportunities for superannuation strategy ahead of retirement. They also remind businesses of upcoming reporting deadlines, including Single Touch Payroll (STP) finalisation by 14 July and PAYG variations. It’s a must-listen for staying informed and proactive with your 2025–26 tax strategy
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
