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Changes to deductibility of interests on ATO debts - Effective 1 July 2025

24/06/2025

General interest charge (GIC) and Shortfall Interest Charge (SIC) incurred from 1 July 2025 will no longer be deductible, increasing the after tax cost of carrying a tax debt.  Taxpayers have historically been able to claim tax deductions for GIC and SIC imposed by the ATO. This helped offset the financial burden of these penalty […]

Victoria’s State Tax Reform 2025: What Property Owners, Developers & Advisors Need to Know

04/06/2025

In May 2025, the Victorian Government introduced the State Taxation Acts Amendment Bill 2025 which provides various changes that will impact landowners, developers, trustees, and individuals navigating Victoria’s complex tax landscape. This article outlines the key changes, with commentary on practical implications, compliance requirements, and planning considerations for clients and advisors alike. The Bill and […]

Section 899: Not a Big Beautiful Tax

30/05/2025

On 22 May 2025, the United States (U.S.) House of Representatives passed section 899, a retaliatory and penalty tax targeting inbound investments to the U.S. by foreign entities from countries (including Australia) imposing ‘discriminatory taxes’ against U.S. entities. As part of the One Big Beautiful Bill Act (the Bill) passed by the U.S. House of […]

Build to Rent | State Taxes comparison

30/05/2025

Understanding Build-to-Rent (BTR) concessions across Australia can be complex — so we’ve broken it down to make it easier for you to compare the key differences and eligibility criteria in each State and Territory. This guide provides a clear, side-by-side comparison of BTR definitions, tax concessions, and access requirements across all Australian jurisdictions. If you’re […]

Proposed Division 296 legislation: A new tax on superannuation balances

28/05/2025

With the Federal Election now run and won, the Federal Labor Government will re-introduce its proposed legislation – Division 296 – Better targeted superannuation concessions. The legislation targets individuals with a Total Superannuation Balance (TSB) above $3 million held across all super funds regardless of accumulation or retirement phase. Under the previously proposed legislation that […]

SW launches Reflect Reconciliation Action Plan (RAP) in recognition of National Reconciliation Week

27/05/2025

In celebration of National Reconciliation Week (NRW), SW Accountants & Advisors is proud to announce the launch of its Reflect Reconciliation Action Plan (RAP). This marks an important milestone in the company’s ongoing commitment to reconciliation and strengthening relationships with Aboriginal and Torres Strait Islander peoples. Aligned with this year’s NRW theme, ‘Bridging Now to […]

VIC State Budget 2025/26

22/05/2025

State Government focuses on balancing the operating budget and providing cost of living relief for families, but questions remain over how the States ballooning debt burden will be significantly reduced by this Budget. Our experts explore the key takeaways from the 2025/26 Victorian State Budget and answer what’s on the table for businesses, industries and […]

Financial Reporting webinar series

22/05/2025

Dive into the latest developments in financial reporting with our webinar series. From accounting standard changes to regulatory updates, gain insights to navigate the complexities of reporting effectively in today’s ever-evolving financial landscape. Our experts will provide you with topical content of relevance as well as an update on what’s new in financial reporting, including […]

Simplify employee share schemes reporting with the CTS ESS Toolkit

08/05/2025

The Australian Taxation Office (ATO) has upcoming reporting obligations for entities offering employee share schemes (ESS). Find out how the Complete Tax Solutions Employee Share Scheme (CTS ESS Toolkit), our ATO-approved software, can help you meet these requirements efficiently and accurately. Upcoming ATO reporting obligations The ATO requires employers who issue shares or share options […]

Funds Tax & Accounting technical training

07/05/2025

In the lead up to financial year-end, our experts offered an online tax and accounting training session specifically for funds. The session delivered a deeper insight into the technical and information requirements when preparing accounts, demonstrated how tax components are calculated and common accounting vs. tax differences. Our fund experts helped you better understand: SW […]