We work seamlessly with Executors, Court Appointed Administrators, and their legal representatives to ensure every aspect of the estate’s tax obligations is handled with precision. This includes the preparation and lodgement of all required returns, accurate declaration of income, application of deductions, and the identification, quantification, and reporting of capital gains tax events.

Deceased Estates often involve intricate tax considerations and strict compliance requirements. We provide clear, strategic advice and practical support in areas such as:

• lodging the Final Tax Return for the Deceased and any outstanding prior year returns
• preparing and lodging Deceased Estate and Testamentary Trust Tax Returns as required
• preparing Financial Accounts for Deceased Estates or Testamentary Trusts where necessary
• providing clear, accurate beneficiary statements to ensure distributions are correctly included in beneficiaries’ personal returns
• delivering Capital Gains Tax advice, including guidance on asset treatment and applicable time limits
• liaising with the ATO to confirm the deceased’s outstanding tax position prior to finalising the estate
• assisting with ongoing compliance or wind-up matters for private companies, trusts and SMSFs forming part of the deceased group
• preparing private binding ruling applications, for example, seeking the Commissioner’s discretion to extend the two-year period for disposal of a principal place of residence
• managing voluntary disclosures, including complex ATO liaison to obtain tax histories and reach timely, appropriate outcomes for estate finalisation
• establishing and managing Testamentary Charitable Trusts, including compliance with Australian Charities and Not-for-profits Commission (ACNC) requirements
• preparation and lodgement of a Foreign Resident Capital Gains Withholding certificate for a foreign Executor, where the Deceased’s main residence has been sold.

Key contacts

Heather Dyke

hdyke@sw-au.com

Deceased Estate Consulting

Taylah Cooke

tcooke@sw-au.com

Deceased Estate Consulting

The post Deceased Estates appeared first on SW Accountants & Advisors.

The post Payment appeared first on SW Accountants & Advisors.

Known for his practical and client-centric approach, Matthew has led major audit and advisory engagements for some of Australia’s largest private groups, a global online retailer, and multinational manufacturing businesses with operations across Australia, New Zealand, the USA and the UK. He has also worked extensively with professional services firms including engineering, architectural and consulting practices.

Matthew’s technical expertise covers external audit, accounting advisory, governance and risk frameworks, and industry-specific benchmarking. He is regularly appointed as Lead Engagement Partner for complex, high-value clients where his commercial expertise and attention to detail are highly valued.

His ability to build trusted, enduring relationships is underpinned by a consistent focus on delivering clear, proactive advice that supports his clients’ strategic objectives. He has also acted as audit partner for several successful initial public offerings, providing strategic guidance and technical leadership throughout the listing process.

Matthew is a Partner of SW Audit and a Director of SW Accountants & Advisors Pty Ltd.

The post Matthew Hingeley, Partner appeared first on SW Accountants & Advisors.

Beyond external audits, Brent has a proven track record of assisting clients with audit readiness and financial reporting requirements. He has also played key roles in several major transactions, including:

• HK$1.396 billion global offering for a listed mining group
• $155 million glass manufacturing acquisition
• $44.5 million property and strata management acquisition
• $40 million property and egg farming acquisition
• $30 million acquisition of a wellness product manufacturer and e-commerce platform
• $50 million petroleum freight acquisition

Brent also serves on the Board of Directors and as Chair of the Finance Committee for a Melbourne-based community services organisation. This governance role provides him with valuable insight into the expectations of Directors and the broader governance environment.

He successfully onboard, manages and services a portfolio of clients across both the listed and not-for-profit sectors. Over time, Brent has built strong, trusted relationships with clients across industries including education, agribusiness, retail, manufacturing, not-for-profit, and automotive. He is proud to be recognised as a trusted advisor by clients who are respected leaders in their respective fields.

Brent is a Partner of SW Audit and a Director of SW Accountants & Advisors Pty Ltd.

The post Brent Sheers, Partner appeared first on SW Accountants & Advisors.

For NFPs with a standard year end of 30 June, the return must be lodged by 31 October each year. However, for the 2023-24 income year, the ATO has extended the 31 October deadline to 31 March 2025.

Below is a summary on how to prepare to lodge the return and the ways it may be lodged.

For details of our previous update click here.

Preparing to lodge the NFP self-review return

To prepare for lodgement, organisation should:

• review the organisations governing documents and
• prepare answers to the questions using the NFP self-review return question guide.

In reviewing the organisation’s governing documents, it must contain the appropriate not-for-profit clause and dissolution clause and set out that the organisation is operating for its not-for-profit purpose. The return contains 3 sections with the following key questions:

• What is the estimated annual gross revenue for the organisation?
• Choose a category best reflecting the main purpose of the organisation
• Does the organisation have and follow clauses in its governing documents prohibiting the distribution of income or assets to individuals or members?
• Does the organisation exist, operate and incur its expenditure entirely in Australia?
• Does the organisation have charitable purposes?

Ways to lodge the NFP self-review return

The ATO offers several methods for lodging returns, including:

• online
• through a registered agent and
• over the phone.

Lodging online

If you are an authorised contact for your organisation with access to Online services for business, you can lodge the return online. The ATO outlines the following process for lodging the return using this method:

1. Select either:
   1. View next to the NFP self-review return in the Lodgements section of the For Action panel
   1. NFP self-review return from the Lodgements menu
2. Select Prepare next to the return (you must prepare the oldest return first)
3. Complete the mandatory details
4. Tick the acknowledgments and declaration
5. Select Submit

To note: Due to changes in office holders, many NFPs are unaware of who the authorised contact is for the NFP.  It can be harder to change the authorised contact than to complete the NFP self-review return.  We recommend completing ATO Form NAT 2943 and sending to the ATO to change the authorised contact for your NFP.

Lodging through a registered Tax Agent

If you’ve engaged a registered Tax Agent, they can prepare and lodge your organisation’s NFP self-review return through Online services for agents.

To note: Most NFPs do not have a Tax Agent as they have not had to lodge tax returns in the past. Whilst a lot of NFPs may have engaged a BAS Agent to lodge their Business Activity Statement a BAS Agent can not lodge the NFP self-review return.

Lodging over the phone

The ATO outlines the following process for those choosing to lodge over the phone:

• first review the list of self-review return questions
• prepare your responses to each question and have these with you when you call. You must refer to your governing documents to answer some of the questions
• phone the self-help service on 13 72 26 and select NFP self-review return lodgement
• enter the organisation’s ABN and a reference number listed on any letter we have posted to your organisation, such as Your annual self-review reporting obligation or the Lodge your NFP self-review return notice:
• the ABN will be listed as ‘Client ID’
• the reference number will be listed as ‘Our reference’
• follow the prompts to record your responses and submit the NFP self-review return questions.

Although these methods streamline the lodgement process, organisations with limited access to online resources may still face difficulties.

If so, lodgement of the return over the phone or through a registered agent can mitigate these difficulties.

Post-lodgement

Once the return is submitted, you’ll receive a transaction reference number to retain for your records. This will have a self-assessment outcome of either:

• income tax exempt or
• taxable.

Income tax exempt

If you successfully submitted your NFP self-review return and self-assessed as income tax exempt, the organisation has completed its reporting requirements for this income year. The NFP self-review return will need to be lodged in subsequent years.

If the return was lodged via Online services for business, the return information will be pre-filled for next year, making future lodgements easier

Taxable

If you successfully lodged your NFP self-review return and self-assessed as taxable, the organisation does not qualify for income tax exemption.

Thus, the organisation does not need to complete an annual NFP self-review return. Instead, they must lodge an income tax return or notify of a non-lodgement advice each income year.

How SW can help

We can assist with the preparation and lodgement of the return and assess your border eligibility for income tax exempt status. Please contact our Tourism, Hospitality and Gaming (THG) industry experts and not-for-profit experts.

Contributors

Blake Trad

The post NFP self-review return due 31 March 2025 – How to lodge  appeared first on SW Accountants & Advisors.

The post Happy Lunar New Year 2025 | 2025 新年快乐 appeared first on SW Accountants & Advisors.

A simple procedure costing as little as $25 in most developing countries can help restore their sight and change their lives and the lives of their families and communities forever!

Together we can make a difference!

Click here to help end avoidable blindness.

The post SW partners with the Fred Hollows Foundation to end avoidable blindness appeared first on SW Accountants & Advisors.

As a Partner in the SW Australia property group, Blake has developed a strong understanding of the tax and accounting issues relevant to developers, builders and financiers. Blake specialised in providing strategic and structuring advice for his clients’ new projects. Blake provides property industry related tax updates regularly and is a regular presenter at SW Australia’s Emerging Developers Series.

Blake consults to property developers on a range of commercial, accounting and tax issues including:

•Income tax, GST and stamp duty advice

•Establishment of entities

•Advising on land tax assessment.

•Periodic tax planning Ongoing development financial reporting including feasibility reporting and funding covenants reporting

The post Blake Rodgers, Partner appeared first on SW Accountants & Advisors.

He specialises in the Funds Management, Agribusiness, and Retail sectors, supporting clients to navigate regulatory change, investor expectations, and cross-border complexities. Luke has developed particular expertise in advising on agricultural investment structures, helping funds and investors optimise returns through effective tax strategies that address income tax, withholding tax, MIT/AMIT eligibility, and ESG-linked opportunities such as carbon credits.

Before becoming a Partner, Luke worked in the Business and Private Client Advisory division where he established a strong reputation as a trusted adviser to private family groups and mid-market businesses, leading numerous business consulting projects and tax engagements.

As Manager of the Financial Services Industry Group, Luke regularly presents to market participants and industry bodies. He leads our fund tax and accounting webinars, has delivered training to the Property Council of Australia, and spoken at Property Funds Association events.

Luke is also committed to community and professional development. He is an active member of the firm’s Community Opportunities Together Committee and has mentored many team members to manager roles across professional services and industry.

Luke’s experience includes: 

• Advising funds on structuring agricultural and real asset investments to achieve optimal tax outcomes for domestic and offshore investors
• Providing strategic tax advice on M&A transactions across agribusiness, funds management, and retail
• Advising on structuring for Australian and multinational groups, including inbound investment
• Delivering ongoing tax compliance services for listed and unlisted groups.

The post Luke Fernandes, Partner appeared first on SW Accountants & Advisors.

Kirsty has a proven track record in tax controversy, handling objections and private binding ruling applications. She brings substantial experience in liaising with the Australian Taxation Office to secure optimal outcomes for her clients.

Having commenced her career at a mid-tier firm in Corporate Tax and subsequently advancing to Director at one of the big four firm, Kirsty has tackled numerous complex transactions and tax challenges. She is a Chartered Accountant with a degree in Commerce, specialising in Accounting and Finance.

The post Kirsty McDonnell, Partner appeared first on SW Accountants & Advisors.