Talking Numberz

📣 Quick tax tip – check your private health cover!

If you have dependent children, it’s important to make sure they’re actually listed on your private health insurance policy. For Medicare Levy Surcharge (MLS) purposes, the ATO looks at your family income and whether all family members (including dependants) are covered.

If even one dependant isn’t covered with appropriate hospital cover, you could still be hit with the surcharge… even if you personally have insurance in place 😬

💡 The MLS can be 1%–1.5% of your income, so this is definitely worth a quick check before 30 June.
👉 Learn more: https://www.ato.gov.au/individuals-and-families/medicare-and-private-health-insurance/medicare-levy…

“Do you want to plan your tax… or be surprised by it?”

Because here’s the truth 👇
If Accountants only look at your numbers after 30 June, there’s really not much to do except calculate the bill.
But if we review things before the end of the financial year, we can:
✔ Estimate your expected tax position
✔ Identify opportunities to reduce tax (legally!)
✔ Plan cashflow so the bill doesn’t hurt as much
✔ Make strategic decisions before it's too late

Tax planning isn’t about dodgy tricks or last-minute magic.
It’s simply about looking ahead instead of looking backwards.

And honestly… if there’s a chance to pay less tax legally, I feel like that’s a conversation worth having.
Because let’s be real… no small business owner wakes up excited to pay tax 😅

If you’re a business owner and haven’t reviewed your tax position yet, now is the perfect time to start the conversation.

Future-you will thank you. 🙌

🚨 Major Tax Reform Announced 🚨

In a shock announcement, the Government has proposed that individuals earning up to $100,000 will pay zero income tax from 1 July 2026.
The reform is said to simplify the tax system and provide significant cost of living relief.
We are currently reviewing the proposed changes and what this could mean for our clients moving forward.

P.S. April Fools !! 😄 (imagine though…)