Stay up to date with what’s happened in the Australian economy and markets over the past month.
Escalating conflict in the middle east marked the end of February.
The month delivered mixed signals for the Australian economy.
The unemployment rate held steady, wage growth continued to edge higher, while household spending softened.
Inflation continues to be an issue. While the CPI remained steady, trimmed inflation increased slightly and the February 0.25% cash rate hike added pressure to mortgage holders.
Reporting season added its usual volatility to the share market and the ASX hit several record highs towards the end of the month, supported by solid corporate results, even as global markets remained cautious.
Click the video below to view our update.
Please get in touch if you’d like assistance with your personal financial situation.
Self-managed superannuation fund (SMSF) trustees always have a lot on their to-do lists but the first few months of 2026 are likely to be busier than usual.
Payday Super is a change to when you make your employees’ Superannuation Guarantee (SG) payment. From 1 July 2026, the SG must be paid to an employee’s super fund on payday and be received by the fund within seven business days. If you are taking on new employees or paying to a new super fund, these funds must be received within 20 business days.i
Employers are considered to have made a contribution when the fund receives it, not when they pay it, so SMSFs need to have the necessary systems set up and in place from 1 July.
Who’s affected?
The ATO has warned SMSF trustees that Payday Super should not be ignored.
If you are a business owner and pay contributions for yourself or your employees into an SMSF, the fund will be receiving more contributions and there will be increased administration requirements to deal with payment timing and record keeping.
The strict timing rules also come with tougher penalties and any delay may incur a Super Guarantee Charge, which is not tax deductible.
New clearing house partners
SMSFs also need to be prepared for closure of the ATO’s Small Business Superannuation Clearing House (SBSCH) from 1 July 2026.ii
Employers currently using the SBSCH should take immediate action to find an alternative. You could check your accounting software and payroll packages, which may already include super functions, or look at the options offered by commercial clearing houses or other software providers.
Failing to prepare for the SBSCH closure means you may risk a fine.
SuperStream updates
Payday Super’s 1 July start date will also usher in changes to contributions messaging within the SuperStream system, the electronic standardised format employers must use to make super contributions.iii
Changes include clearer error messaging and are designed to reduce employee contributions being rejected by the receiving super fund.
SMSF trustees need to ensure their internal systems are updated and ready to cope with the SuperStream changes, as timely and correct contribution payments are a key goal of the new rules.
According to ATO deputy commissioner Emma Rosenzweig, one of the most common SMSF errors in this area is where the Electronic Service Address (ESA) was never activated with the provider or is no longer active.
This error means the employer receives a SuperStream error message but does not receive the matching refunded super contribution.
Prepare for earlier contributions
The ATO is encouraging employers not to wait until 1 July to start making Payday Super contributions to help improve the transition.
SMSFs should also ensure they are able to receive contributions via the New Payments Platform (NPP), as employers who currently use direct debit are being encouraged to move to faster payment methods such as EFT and NPP.
With contributions flowing in more regularly – rather than quarterly – it may also be timely to reassess your SMSF’s investment strategy and portfolio allocation to ensure it remains suitable for the shift in contribution flows.
High balance tax changes
Another thing to be mindful of is from 1 July 2026, SMSFs will need to be prepared for the commencement of the government’s much delayed Better Targeted Superannuation Concessions.iv
These new rules are intended to reduce tax concessions for individuals with a Total Super Balance (TSB) above $3 million.
Under the new rules, people with higher super account balances will face a higher 30 per cent concessional tax rate on the proportion of earnings corresponding to their TSB between $3 million and $10 million.
With a higher TBC in place for 2025-26, SMSFs should consider the implications of the new tax regime prior to making any pre-30 June contributions and potentially breaching the indexed thresholds in future financial years.
If you need help preparing your SMSF for the upcoming changes, contact our office today.
From 1 July 2026, employers must pay superannuation guarantee (SG) contributions at the same time as wages—this is the new Payday Super system.
This replaces the old rule allowing SG payments 28 days after each quarter.
Under Payday Super, contributions must be paid and received by the employee’s super fund within seven business days. Because employers rely on payroll software and payment systems, they may be held responsible for delays outside their control—an issue many industry bodies have criticised.
Key Things Employers Should Prepare For
1. Update and test payroll systems early
DSPs (software providers) are still updating systems because legislation only passed in November 2025.
No transition period exists—everything must work from 1 July 2026.
Current processing times for many systems exceed 7 days, so employers should urgently test payroll and super processes now.
Expect delays, errors, and increased workload as contributions jump from 150 million to 500 million per year.
2. Plan for cash‑flow changes
SG must be paid far sooner, which may affect business cash flow.
Late payments, even by one day, trigger the Superannuation Guarantee Charge (SGC), along with penalties, interest and potential reputational damage.
Some employers may consider moving paydays to Friday to gain extra non‑business days, but many cannot make this change easily.
3. Final quarter of FY2026
Employers should pay April–June 2026 SG before 30 June 2026.
Paying after 30 June but before 28 July (the old deadline) may cause excess concessional contributions for employees in 2026–27.
The Government may introduce transitional measures, but nothing is confirmed.
4. Start paying super with wages now
Employers are encouraged to begin early to identify issues, update processes, and train staff well before the official start date.
If you are an employer, you must be prepared prior to 1st of July 2026.
Please contact your accountant should you need assistance.
As we move into the 2026 tax year, property owners across Victoria should be aware of critical filing requirements regarding the Vacant Residential Land Tax (VRLT). To ensure compliance and avoid potential penalties, it is essential to determine if your holdings are subject to these expanded regulations
Key Filing Deadline Property owners must submit their VRLT notifications to the State Revenue Office (SRO) no later than 15 February 2026.
Who is Required to Notify? The VRLT applies to specific categories of land within Victoria. You must submit a notification if any of the following applied during the 2025 calendar year:
Vacant Homes: Residential properties that were unoccupied for more than six months in 2025.
Extended Construction: Homes that have been under renovation or construction for more than two years as of 31 December 2025.
Undeveloped Land: Residentially zoned land in metropolitan Melbourne that has remained undeveloped for five years or more.
Notification Requirements If you have submitted a notification in previous years, you only need to file again if your circumstances have changed (e.g., the property is no longer vacant or has been sold). However, first-time applicants or those with changes in status must act before the February deadline.
Exemptions and Submissions The notification process is also the primary mechanism for claiming exemptions. Common exemptions include properties used as a primary place of residence or designated holiday homes.
All notifications and exemption applications must be completed online via the Victorian State Revenue Office (SRO) Website. We recommend reviewing your portfolio immediately to ensure all 2025 activity is accurately reported. For specific advice regarding your tax position, please consult with your financial advisor or legal representative.
A sudden death can place financial stress on those who depend on you. If this happens, life cover can help them pay the bills and other living expenses.
What is life cover
Life cover is also called ‘term life insurance’ or ‘death cover’. It pays a lump sum amount of money when you die. The money goes to the people you nominate as beneficiaries on the policy. If you haven’t named a beneficiary, the super trustee or your estate decides where the money goes.
Life cover may also come with terminal illness cover. This pays a lump sum if you’re diagnosed with a terminal illness with a limited life expectancy.
Important: Accidental death insurance is different from life cover. It will only pay out if you die from an accident. It will not provide cover if you die from an illness, disease or suicide. This type of cover often has a lot of exclusions.
To understand what’s covered under a policy and the exclusions, read the product disclosure statement (PDS).
Decide if you need life cover
If you have a partner or dependents, life insurance can help repay debt and cover living costs if you die.
To decide how much life cover to get, consider how much money you or your family would:
need — to pay the mortgage, credit cards and any other debts, child care, school fees and ongoing living expenses
receive — from super, savings, the sale of any investments, your paid leave balance, and support from your extended family
The difference between these is the amount of cover you should get.
If you need help deciding if you need life cover, and how much, speak to us.
How to buy life cover
Check if you already hold life insurance through super. Most super funds offer default life cover that’s cheaper than buying it directly. You can increase your level of cover through your super fund if you need to.
You can also buy life cover from:
a financial adviser
an insurance broker
an insurance company
Life cover can be bought on its own or packaged with trauma, TPD or income protection insurance. If it’s packaged, your life cover may be reduced by any amount paid on other claims in the package. Check the PDS or ask your insurer.
Life cover premiums
You can generally choose to pay for life cover with either:
variable age-stepped premiums (previously known as ‘stepped premiums’) — are based on your age and recalculated at each policy renewal. Generally, this means that the cost of your cover will increase as you get older because there is a higher chance of making a claim as you age.
variable premiums (previously known as ‘level premiums’)— charge a higher premium at the start of the policy, but changes to the cost aren’t based on your age, so increases generally happen more slowly over time.
Your choice of variable age-stepped or variable premiums has an impact on how much your premiums will cost now and in the future.
Regardless of which way you choose to pay for your cover, premiums are not guaranteed and may change annually. Speak to your insurer or read the PDS for more information.
Compare life cover
Once you know how much life cover you need, shop around and compare:
benefits and policy features
exclusions
waiting periods before you can claim
limits on cover
the cost of the premiums — now and in the future
A cheaper policy may have more exclusions, or it may become more expensive in the future. You can find information about the policy on the insurer’s website or in the product disclosure statement (PDS).
What you need to tell your insurer
An insurer will ask you questions when you apply for or change your insurance. These questions may be about your:
age
job
medical history
family history, such as a history of disease
lifestyle (for example, if you’re a smoker)
high-risk sports or hobbies (such as skydiving)
If an insurer doesn’t ask for your medical history, it may mean that the policy has more exclusions or narrower policy definitions.
The information you provide will help the insurer to decide:
if they should insure you
how much your premiums will be
terms and conditions for your policy
It is important that you answer the questions honestly. Providing misleading or incomplete answers could lead an insurer to cancel or vary your cover, or decline a claim you make.
Making a life cover claim
If someone close to you dies and you need to make a claim, or if you need to make a terminal illness claim, see how to make a life insurance claim.
Source: Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at https://moneysmart.gov.au/how-life-insurance-works/life-cover Important note: This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person. Past performance is not a reliable guide to future returns. Important Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author. Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.
This year is shaping up as one of the biggest for tax and superannuation reform.
Several major changes begin on 1 July, so small businesses that aren’t prepared, face compliance headaches, cashflow pressure and ATO scrutiny.
Here’s what you need to know.
Super must be paid every pay day
The most significant change is the introduction of Payday Superannuation. Payday Super will help employers meet their super guarantee (SG) obligations and help protect the retirement funds of millions of Australians.
From 1 July, employers must pay super at the same time as wage and salary payments.i
That means Super Guarantee (SG) contributions must be in an employee’s account within seven business days of each pay day.ii
For new employees, or those paying to a new super fund, you have 20 business days for the first payment to reach the account.
The new rules also include changes to how you calculate and report contributions.
Super will be calculated at 12 per cent of qualified earnings (QE). These include ordinary time earnings; salary sacrifice contributions and certain payments to contractors who are treated as employees.
You must include the year-to-date (YTD) amounts of QE and super liability in each Single Touch Payroll report.
SuperStream messaging upgrades
From 1 July 2026 there are changes to the contributions messaging used in the SuperStream system, which is the electronic standardised format you must use to pay super contributions.
The messaging changes include clearer error messaging and are designed to reduce the likelihood that your employee contributions are rejected by a super fund.
What employers need to do
The ATO is urging small businesses not to leave preparations to the last minute. Payday Super will increase your administrative workload and payroll processes will need to change.
Confirm employee super fund details are current and correct
Check your default super fund’s registration details are up to date
Consider paying super contributions more frequently now to identify any errors or problems with rejected contributions before the rules change
Review your payroll software and internal systems to make sure they’re ready to support Payday Super and the SuperStream changes
If you currently use the Small Business Superannuation Clearing House, be aware that it closes on 1 July 2026 and you’ll need to make new arrangements
Read about the changes to SuperStream and the New Payments Platform
And, an important note for those who currently pay super quarterly; you should model the impact of the more frequent payments now to check how your cashflow will be affected after 1 July. For small businesses that have tight profit margins, you will need to plan carefully and potentially create a business forecast to manage your cash flow.
New lower tax rates
From 1 July 2026, the tax rate for individual income between $18,201 and $45,000 will fall from 16 per cent to 15 per cent, with a further reduction to 14 per cent from 1 July 2027.iii
Make sure your payroll system is ready for the change and that the correct amounts will be withheld from employees’ wage and salary payments from the first pay run.
Also, check that the new rates do not affect other payroll calculations such as salary packaging or super contributions.
Earnings tax on high balance super accounts
Some small businesses also need to be aware the Better Targeted Superannuation Concessions (BTSC) measures start from 1 July 2026.
Following recent amendments, the BTSC for high balance fund members now includes a second threshold on super accounts over $10 million, with a concessional 30 per cent tax rate applying on the proportion of earnings corresponding to total superannuation balances (TSBs) between $3 million and $10 million.
A new 40 per cent tax rate applies on earnings from the portion of the TSB over $10 million. The earnings tax only applies to ‘realised’ gains on assets, such as when interest is earned or a property is sold.
If you need help preparing for the upcoming tax and super changes, contact our office today.
Investing may be all about the numbers – growth, returns and risk – to build a secure future but increasingly investors are interested in an even more meaningful approach.
Four out of five respondents to a 2024 survey wanted their investments to have a positive impact in the world.i
The survey, by the Responsible Investment Association Australasia (RIAA), found 79 per cent of investors would be more likely to invest in funds or products that have been independently verified as responsible or ethical. Animal cruelty was a top concern for 66 per cent, followed by human rights abuses – 60 per cent, gambling – 56 per cent, companies that don’t paid their fair share of tax – 55 per cent, as well as tobacco, weapons and firearms all at 55 per cent.ii
This growing interest in responsible investment saw assets under management in Australian funds rise 24 per cent to more than $1.6 trillion in 2024.iii
Meanwhile, a 2025 survey of 3,500 high net worth Australian investors found that sustainable investing is gaining traction as long as appropriate returns, clear risk and return profiles, and transparent performance reporting are in place.iv
Adding value
Aligning your investments with your values isn’t about changing the way you invest, it’s about adding an extra layer of meaning to the process and shaping your portfolio to reflect what’s important to you.
For some, that might mean supporting companies that innovate responsibly or treat employees well. For others, it could mean avoiding industries that don’t align with their principles. There’s no single ‘right’ approach because your values are unique to you.
And here’s the reassuring part: investing with your values doesn’t mean sacrificing returns. Many businesses that operate with strong governance and long-term strategies have shown to perform competitively over time. So, you can pursue financial growth while feeling confident that your money is working in ways that matter to you.
In fact, the RIAA noted in 2024 a ten-year return on RIAA-certified products of 13.9 per cent, compared with 9.19 per cent for the rest of the market (Australian share funds).v
Of course, fundamental investment rules apply. Diversification is one of the keys to successful values-based investing. But it’s not about limiting your choices, it’s about finding the right mix of investments that meet both your financial and personal criteria.
A well-constructed portfolio can include companies across different sectors that align with your principles while still delivering strong performance. This approach ensures you’re not only investing with purpose but also managing risk effectively.
Taking the first step
Turning this idea into reality can be complex. Investor’s priorities are different and the investment universe is vast. That’s where a financial adviser adds value.
A good adviser doesn’t just manage numbers. They listen and take the time to understand what matters most to you, whether that’s supporting certain industries, avoiding others or balancing ethical considerations with performance goals.
From there, they help design a strategy that reflects your values without losing sight of your financial objectives.
Advisers also provide clarity. With so many investment options available, it’s easy to feel overwhelmed. We can help you navigate choices, evaluate trade-offs, and ensure your portfolio remains diversified and resilient. We can also monitor your investments regularly, making adjustments as markets change and your priorities evolve.
So, if you’ve ever wondered whether your investments reflect your values, you can begin exploring the possibilities.
Start by asking yourself about the principles that are most important to you; the industry sectors you would like to support or steer clear of and how you would define success.
Then, give us a call. We can help you to align your portfolio with your values while keeping your long-term goals on track.
With some changes to personal tax rules this financial year, it may be time to take a closer look at your tax affairs, particularly given the ATO’s focus is on personal deduction claims.
The tax regulator is continuing to emphasise its concern about some taxpayers’ work-related expense claims, deductions for investment properties and holiday homes, income from the sharing economy and cryptocurrency.i
Given this focus, it’s sensible to check you are following all the current tax rules and have the necessary documents to substantiate any deduction claims or income sources come 30 June.
For businesses, keep an eye on BAS lodgement dates and super contribution deadlines early in the new year to avoid missing them and copping a fine.
Upcoming tax rate changes
From 1 July 2026, the tax rate for individual income between $18,201 and $45,000 will be reduced from 16 per cent to 15 per cent.ii
From 1 July 2027, there will be a further reduction to 14 per cent for individual taxpayers. It’s worth checking the potential impact of these changes as you may need to update your existing salary packaging or super contribution arrangement with your employer.
It may also be worthwhile reviewing any capital gains tax obligations for this financial year and offset them against any capital losses.
People with higher super account balances (over $3 million) should also review the Treasurer’s revisions to the Better Targeted Superannuation Concessions (Division 296) legislation.iii
These adjustments include the introduction of a second threshold on balances above $10 million and indexing of the threshold for balances between $3 million and $10 million.
Getting your business’ paperwork in order
Business taxpayers also need to focus on super, as 1 July will see the start of the new Payday Superannuation rules, which requires employers to make their Super Guarantee (SG) contributions at the same time they make wages and salary payments.iv
Preparations for this major change include checking whether your payroll software will be ready to cope with the shift from quarterly to more regular contribution payments.
At an operational level, employers traditionally paying their SG contributions on a quarterly basis should model the likely impact of the new payment rules on their business cashflow.
And don’t forget to ensure your digital records are secure and backed up. With the ever increasing threat of cybercrime, enable two-factor authentication, update passwords and review your data storage practices.
Strategic issues to consider
Now is also a good time to review your budget and financial position. Identify any potential bad debts that should be followed up in the new year.
Consider timing income and expenses strategically. For example, you may be able to defer income or bring forward tax deductible expenses. Depending on how the business is performing, start evaluating any planned deductible purchases or expenses now, rather than waiting until just prior to EOFY.
Although the government’s announced extension of the $20,000 instant asset write-off to this financial year is yet to be made law, consider whether you will take advantage of it. For new business assets to be eligible, they must be installed and ready to use by 30 June.
If you need help preparing your tax affairs or business strategy for 2026, contact our office today.
Retirement has often been seen as a time to slow down and enjoy the simple pleasures of daily life. And for many, that’s the dream. But retirement is no longer defined by one image or one path. In fact, it can be something much more expansive. Today, retirement is increasingly viewed as a time of freedom, possibility, and reinvention.
Retirement isn’t about stepping back. It’s about stepping into a new chapter where you decide what comes next.
Even if you are not yet there, and retirement is still a way off, it’s never too soon to think about who you want to be, what gives you joy, and start to gravitate towards living your dreams.
Let go of conformity, embrace freedom
Of course, you can live your dreams at any stage of your life but the exciting part about retirement is that you are no longer bound by the expectations that shaped your earlier years. You don’t have to earn a living anymore, so what you do with your time can be driven purely by passion, curiosity, or purpose.
For much of our lives, we learn to conform. We wear the suits, follow the rules, meet the deadlines, and often suppress our wilder ideas or untapped creativity to fit the roles expected of us, whether as professionals, parents, providers, or partners.
But something shifts later in life. With age often comes clarity, and a new kind of confidence. Retirement can be the moment when we stop asking what others think we should do and instead, begin to ask what our hearts are calling us to do.
This is your opportunity to push boundaries, shed old labels, and express your true self without apology. It is a time to honour your inner voice, whether that means embracing bold adventure, creating, starting over, or simply doing what feels meaningful to you.
Unconventional can be unforgettable
Retirement can be the perfect time to try something unexpected or bold. Consider these inspiring examples:
Isabella Rossellini
After being let go by Lancôme at age 45 for being “too old,” Rossellini redefined what aging looks like. She went back to school in her 50s to study animal behaviour, wrote books, bought a working farm, and later, in a full-circle moment, was rehired by the same brand that once let her go. Now in her 70s, she continues to model, act, write, and farm, all on her own terms.
Diana Nyad
At 64, Nyad swam from Cuba to Florida, a journey of 110 miles through open ocean, after four earlier attempts. It was a dream she had carried her whole life, and she proved that persistence and passion don’t expire with age.
Harriette Thompson
Harriette ran her first marathon in her 70s and, at 92, became the oldest woman ever to complete one. Her story is a celebration of physical endurance and mental strength at any age.
Anthony Hopkins
Well into his 80s, the Oscar-winning actor continues to create. He acts in major films, paints, composes music, and shares his work with younger generations online. He shows that creativity and passion do not have a use-by date.
Mother Teresa
Mother Teresa received the Nobel Peace Prize at age 69 for her work with “Missionaries of Charity,” a world-wide organization that helped the sick, the poor, the dying and left an incredible legacy of benevolence that continues today.
Finding your joy
This chapter of life gives you the rare opportunity to redefine yourself, or finally be yourself, in ways that may not have been possible earlier in life.
Whether your dream is to travel the world, volunteer overseas, write a novel, take up painting, or pursue a long-held interest that never fit into your working life, now is your chance.
And it doesn’t have to follow tradition. Retirement can be adventurous, creative, active, or entrepreneurial. It can be spent on a cruise ship, in a mountain village, running marathons, making movies. And you don’t have to set the world on fire – if what makes you happy is watching your roses bloom then go for it! The point is, this part of your life, is yours to shape.
Retirement is a time to live fully and follow your own path to what brings you joy. What will your next chapter be?
