Direct North Accounting, Chartered Accountant, Adelaide

Newsletter; Costs relating to holiday homes no longer deductible On 20 May 2026, the Australian Taxation Office (ATO) finalised its guidance on rental properties that also double as a holiday home. Taxation Ruling TR 2026/1 and two practical compliance guidelines … Continue reading →

Newsletter; 2026/2027 Budget Update (your five minute guide) Please find below a summary of the some of the more relevant budget announcements that affect taxation.   2026/2027 individual tax rates Taxable income range                    Marginal tax rate              $            0 – $18,200                                           0% … Continue reading →

Newsletter; ATO interest deductibility, Borrowing to pay an income tax debt & ATO debt ATO interest deductibility From 1 July 2025, general interest charged by the ATO is not able to be claimed as a tax deduction (this legislation was … Continue reading →

Newsletter; 2025/2026 Budget Update (your five minute guide) Please find below a summary of the some of the more relevant budget announcements that affect taxation.   There were no substantive tax measures in the budget.  2025/2026 individual tax rates Taxable income … Continue reading →

Newsletter; Proposed 30% tax rate on earnings for super balances exceeding $3m stalled The Australian Government has introduced legislation so that, from 1 July 2025, super balances exceeding $3 million would be subject to a 30% tax rate on earnings. … Continue reading →