Lead Advisory Group

The ATO’s overtime meal allowance rate has increased to $40 for 2026–27, but that doesn’t mean you can automatically claim $40 every time you work overtime.

The ATO has also updated its reasonable amounts for domestic and overseas travel.

A few things to know:
🚘 You generally need to receive a genuine travel or overtime meal allowance from your employer for the reasonable rates to apply.
🚘 You can generally only claim what you actually spend on deductible work-related expenses.
🚘 The ATO’s reasonable rates are not an automatic deduction.
🚘 You should still keep records to show you incurred the expense, even where you don’t need a receipt for every purchase.
🚘 If you’re away from home for six or more consecutive nights, additional travel diary requirements will generally apply.

If you receive a travel or overtime meal allowance, it’s worth understanding the rules before claiming a deduction.

If you’re unsure what you can claim or what records you need to keep, talk to the team at Lead Advisory Group.

Have a family trust? There’s a proposed tax change worth knowing about.

From 1 July 2028, the Government is proposing a 30% minimum tax on the taxable income of discretionary trusts.

A few things to know:
🖊️ It’s a proposal and is not yet law.
🖊️ The changes would not apply to every type of trust.
🖊️ The Government says more than 90% of small businesses are not expected to be affected.
🖊️ Family groups that distribute trust income to companies could be more affected under the proposed rules.
🖊️ For most groups using discretionary trusts, making major changes based solely on the announcement would be premature.

There’s still a lot to work through before the rules are final.

We’ve explained what’s being proposed, who may be affected and what you should know if you use a family trust.

Read more: bit.ly/3SnBX2s

If you’re unsure what the proposed changes could mean for your trust, business or investments, talk to the team at Lead Advisory Group.

Thinking about buying a new car for your business? 🚗

From 1 July 2026, the car limit is $69,883. That means if you spend more than this on a passenger vehicle, you generally won't be able to use the full purchase price when calculating your depreciation deductions.

There are also limits on the GST you may be able to claim, plus updated Luxury Car Tax thresholds to consider if you're looking at a higher-priced vehicle.

It can be a lot to get your head around before you've even chosen the car.

We've broken down the new thresholds in plain English and what they're worth considering before you buy or lease your next business vehicle.

Read more 👉 bit.ly/4fXFmwk

From today, 10 August 2026, the rules around Self Managed Super Funds (SMSFs) borrowing to purchase property have changed.

SMSFs borrowing to purchase property will now generally need the property to meet the definition of business real property.

What does that mean?
🏠 The rules look at how the property is used, not simply whether it is residential or commercial.
🏠 The property needs to be wholly and exclusively used for business purposes.
🏠 Some residential-style properties used entirely for business may qualify.
🏠 Some mixed-use properties may not qualify.
🏠 Existing SMSF borrowing arrangements over non-business real property can continue.

You may have seen these changes described as a ban on SMSFs borrowing to buy residential property, but it's not quite that simple.

If you're looking at buying property through your SMSF, it's important to understand whether the property meets the new requirements before going ahead.

Talk to the team at Lead Advisory Group if you're considering an SMSF property purchase and want to understand how the new rules may apply to you.

🚗 Victorian drivers, have you claimed your rego rebate yet?

Eligible Victorians can now apply for a 20% rebate on vehicle registration fees paid between 1 July 2025 and 30 June 2026. That could mean up to $186 back per vehicle, with claims available for up to two eligible vehicles.

The rebate applies to most personal vehicles under 4.5 tonnes, including cars, utes, motorcycles and vans. Applications are open until 31 July 2026 through Service Victoria.

It's not often money comes back your way, so if you're eligible, it could be worth checking out.

Learn more and apply here 👉 bit.ly/4ovluEE

If you've seen the headlines about negative gearing, capital gains tax and family trusts, you're probably wondering what it all means.

The good news? Most of the proposed Federal Budget changes aren't happening tomorrow.

The challenge is understanding how they could affect your investments, business or future plans if they do go ahead.

We've broken down the key proposals in plain English, without the tax jargon, so you can understand what has been proposed and whether it's something you should be paying attention to.

Read more: bit.ly/4vODuwh

Super contribution caps are increasing from 1 July 2026 👀

That means there may be more opportunities to grow your super and potentially reduce tax, depending on your situation.

The concessional contribution cap is increasing to $32,500, while the non-
concessional cap will increase to $130,000.

For some people, there may also be opportunities to contribute even more using carry forward or bring forward rules, but the rules can get complicated quickly.

If you’re thinking about topping up your super, now is a good time to understand what limits and opportunities apply to you.

👉 Chat with the team at Lead to explore your options and make sure you’re making the most of the rules.

https://www.leadgroup.com.au/contact?utm_name=sked&utm_source=facebook&utm_medium=social&utm_content=sked_69fb3137ac391104055bd9d3

FBT year done… but have you actually checked yours?

Fringe Benefits Tax (FBT) is what applies when you provide perks to employees, like work vehicles, meals or covering personal expenses.

It’s one of those areas that can quietly catch businesses out.

Have a quick read of what to look out for 👉 bit.ly/4wbWENB


https://www.leadgroup.com.au/post/fringe-benefits-tax-what-to-review-now-the-fbt-year-has-ended?utm_name=sked&utm_source=facebook&utm_medium=social&utm_content=sked_69f9dd7fccf9eda1dbb06ed9

Big changes are coming to super from 1 July 2026.

If your balance is nearing $3 million, the new Division 296 tax could impact you.

We’ve broken it down in simple terms so you know exactly what it means and what to do next.

Read more on our website 👉 bit.ly/4s3pigz

Before you head into the long weekend 🐣
We’ll be closed Good Friday and Easter Monday, and back open Tuesday 7 April.

Wishing you all a safe and happy Easter 🍫✨