TaxSmart Cafe - Wyndham

Today is June 22 — there are eight days left in the financial year and this is effectively your final call to make superannuation contributions that will count in 2025–26.

Why June 22 is the effective deadline: most super funds require 2–5 business days to process incoming contributions. June 30 is a Tuesday, which means if your fund needs 5 business days, your contribution must be received by June 23 to be credited before year-end. If you bank with a slower institution or your super fund has longer processing times, June 22 (today) may be the last safe day to initiate the transfer.

Here is the exact process for making a personal deductible contribution:

✅Get your super fund's bank account details (available on your fund's website or member portal).
✅Initiate an EFT from your bank account using your member number as the reference.
✅Wait for confirmation from your fund that the contribution has been received and credited.
✅Lodge a 'Notice of Intent to Claim a Deduction' form with your super fund — this must be done BEFORE you lodge your tax return. Your fund must acknowledge receipt of the notice.

If you're unsure how much you can contribute, your concessional cap is $30,000 minus what your employer has already paid this year (check your super statement). TaxSmart Cafe can calculate this number for you in minutes. Call us now.

🎄✨ CHRISTMAS IN JULY IS HERE! ✨🎄

At TaxSmart Cafe, we believe tax time is also a time to give back.

This July 2026, for every tax return lodged with us, we’ll donate $1 to support youth participation at Ignite Conference 2026 in Brisbane. Every appointment, every tax return, and every contribution helps create opportunities for young people to grow, connect, and be inspired.

It may seem like a small amount, but together we can make a meaningful impact in our community.

Thank you for trusting TaxSmart Cafe with your tax needs while helping us support the next generation. ❤️

📅 Lodge your tax return this July and be part of something bigger.

For small business owners, the Capital Gains Tax (CGT) concessions available under Division 152 of the tax law are among the most valuable provisions in the entire tax code. If you're selling your business, transferring assets, or winding up a company, these concessions can dramatically reduce — or even eliminate — your CGT liability.

There are four main small business CGT concessions: the 15-year exemption (if the business is at least 15 years old, the entire capital gain is exempt), the 50% active asset reduction (a 50% reduction in the capital gain for active assets), the retirement exemption (up to $500,000 of capital gain can be exempted if contributed to super or if the taxpayer is over 55), and rollover relief (deferral of CGT on replacement assets).

To access these concessions, you must meet the basic conditions: your aggregated turnover is under $2 million, or the market value of your net business assets is under $6 million. The assets must be active assets used in carrying on a business.

These concessions require careful planning and implementation. The conditions must be met at the time of the sale event — they can't be backdated. TaxSmart Cafe works with business owners who are considering a sale to ensure they meet the conditions, time transactions correctly, and maximise the available concessions.