DLJ Accountants

🚨 Payday Super starts in 2 days!
From 1 July 2026, employers must pay staff super on payday — not quarterly. If you're not ready, the penalties have changed too (and they're steeper than before).
We've broken down exactly what's changed, what to do right now, and the key dates you need to know 👇
🔗 Read the full guide: https://dljaccountants.com.au/payday-super-is-here-what-you-need-to-know-before-1-july-2026/
Need help making sure your payroll is compliant? Get in touch — we're Xero Certified Advisors and can help you transition smoothly.

Payday Super Is Here: What You Need to Know Before 1 July 2026 | DLJ Accountants If you employ staff, the biggest super change in decades starts in just days. From 1 July 2026, the old quarterly super system disappears. Welcome to Payday Super. Here’s what’s changed. Here’s what you need to do right now. And here’s what the ATO still hasn’t finalised. What Is Payday Su...

🏠 Working from home? Are you claiming everything you're entitled to?
With tax time approaching, make sure you know the ATO's rules for working from home deductions in 2026 — including the CGT trap that catches many homeowners off guard.
We've broken it all down in our latest article:
👉 https://dljaccountants.com.au/working-from-home-tax-deductions-australia-what-you-can-claim-in-2026/
📞 Questions? Call us on 0492 972 916

Working From Home Tax Deductions Australia — What You Can Claim in 2026 | DLJ Accountants Wondering what you can claim for working from home in your 2025–26 tax return? DLJ Accountants breaks down the ATO's two methods, eligible expenses, record keeping requirements and the CGT trap most people miss

This is a great little app, to help you gather your important information over the course of the financial year. Making tax time for everyone a lot less daunting... After a few updates the current app is very useful and definitely worth having a look at.

Want a New Year’s resolution that’s easy to keep? 🙋 Like ‘I’ll keep my receipts organised to make tax time easier!’

Download the ATO app & use our myDeductions tool to store all your receipts in one place, ready for next tax time!

It’s easy to use – simply snap a photo of your receipt when you pay for something you can claim, upload it to the app and add some quick info! Once tax time rolls around, just upload your records so they can be accessed by your agent or in myTax.

To give it a go, visit www.ato.gov.au/General/Online-services/ATO-app/myDeductions/

Happy New Year everyone.
Wishing you all happiness and positivity for an awesome 2023 year....

Day 5 - EOFY tax tips
Instant asset write off for small businesses

Good news is that that federal government has extended the instant asset write until June 2023. This means small business entities can claim an immediate tax deduction for the business portion of any assets that they purchase before the 30th June 2023.

To be eligible to write of the cost of an asset in this financial year, you need to have the transaction and ownership of the asset before 30th of June 2022, so next Thursday. Having possession means that you must physically have that asset in your possession and have unlimited use of that asset.

There are however limits in place for the purchase of motor vehicles.

If you have any questions please feel free to get in contact with us.

Happy weekend and Happy EOFY from everyone at DLJ Accountants. 😀

Day 4 EOFY tips - Paying staff bonuses

As the financial year comes to an end you may look at paying some of your staff members a bonus for the hard work they have done throughout the year.

When paying these bonus' please be aware that PAYG and Super applies to these payment amounts. They need to be run through your accounting software such as Xero etc and reported through your Single Touch Payroll Obligations. With the new rules this year for Single Touch Payroll bonuses need to be shown as their own pay item within your payroll function.
As you want these payments to be applied to the current financial year, make sure that you list the payment date as being before the 30th of June.

Also remember businesses are required to lodge their Single Touch Reports for their employees (except closely held) by the 14th of July.

If you need help in processing these end of year payroll amounts or your STP obligations feel free to get in contact with us.

Day 3 EOFY tips

The relationship between tax deductions and tax payable/refundable.

This can be a point of confusion for some people. Tax deductions represent exp3nses that we can pay to reduce taxable income. Once we have the taxable income, then the tax rates prescribed by the ATO are applied to that taxable income.

So contrary to what some people believe spending money on tax deductible expenses does not mean you will receive all that money back when your tax payable/refund is worked out. As mentioned these expenses only reduce the taxable income. So even if you are an individual tax payer on the highest tax bracket, for every $1 spent you are only going to receive an extra 47c in tax benefit.

So it is pointless spending this money for the sole purpose of getting a tax deduction. It is important to be sensible with tax deduction expenses making sure they have benefits outside of just reducing income tax liabilities.

If you have any questions or queries please reach out to us...

Day 2 - EOFY Tax tips - Prepaid Expenses.

As we come close to the end of the financial year, if we are looking to reduce our Tax liability we can prepay some of our upcoming expenses and use these as a tax deduction in the current tax year (when it is paid).

These prepayments could be for things like subscriptions, rent, or other expenses that you may pay on a weekly, monthly or quarterly basis.

For these prepayments to be deductible for small businesses in the current year they need to meet 2 criteria:
1. They can be for no more than 12 months into the future.
2. They need to be for services provided for in the upcoming 12 month period and the agreement or contract be in place before the end of financial year.

Contact us for any questions or more information relating to this.

As we start the last full week before the End of Financial Year over the next couple of days we will be providing some tips to make sure you get your affairs in order before the year ends.

Todays post is in regards to Super contributions. For your super contributions or payments to be deductible they need to have been received by the super fund before the 30th of June. As these can take a few days to process, we recommend that these contributions are paid this week at the latest.

For businesses you can forecast your wages to the end of the month and include June in your deductible super contributions. Whether you process this by your accounting software or via the ATO Small Business Clearing House, we recommend getting these lodged and paid this week.

For individuals who are wanting to contribute after tax dollars to your superannuation, this week is the time to do it. Contact your super fund to find out the process to do this so you can claim these contributions as a deduction in your 2022 Income Tax Return.
Once you have made these contributions don't forget to send your form to your super fund notifying them of your intention to claim a deduction. This will notify the superfund and the ATO of your deduction claim. To get this form google ATO NAT form 71121 or contact us for the link.

If you have any questions or want some help.. We are more than happy to give you a hand, just make contact with us here or by phone 0492 972 916.