Edney Ryan Chartered Accountants

From 1 July 2026, significant changes to Australia’s anti-money laundering (AML) and counter-terrorism financing (CTF) laws will affect how professional advisers, including both lawyers and accountants, work with their clients. Why these changes are being introduced These reforms are designed to prevent criminals from using legitimate services, such as property transactions, business structures, and large financial dealings, to move illicit... Read more

What a difference a year (and an election) makes! When the 2025 Budget was delivered it was only a few weeks before a Federal Election. I was cynical when changes hadn’t been made to CGT, Negative Gearing, or the Taxation of Trusts. So, we went to an election on the Treasurer and PM’s promise that if re-elected, the Government would... Read more

From 1 July 2026, the Federal Government will introduce Payday Super, a significant reform that will require employers to pay employees’ superannuation at the same time as wages, rather than quarterly. This represents one of the most substantial administrative changes to payroll processes in many years and will impact how businesses manage both compliance and cash flow. Under the new... Read more

You can’t help but cynically view a Federal Budget which is being delivered a few weeks ahead of an election as something of a political marketing exercise. That said, I think this fiscal plan is balanced & responsible. It clearly targets those with the greatest need. It hasn’t attacked retiree savings, and there’s no change to CGT concessions or gearing... Read more

From 1 July 2024, all 13.6 million Australian taxpayers will receive a tax cut, as rates have reduced and thresholds changed. The 19 per cent tax rate will reduce to 16 per cent The 32.5 per cent tax rate will reduce to 30 per cent The threshold above which the 37 per cent tax rate applies rises from $120,000 to... Read more

An individual can claim an exemption from land tax on a property if it is their principal place of residence (the exemption does not apply to land owned by a company or held in a Special Trust). The general requirements for the exemption include: You can only claim one exemption per family. You can only claim one principal place of... Read more

Since 1 July 2022, electric vehicles have been exempt from fringe benefit tax (FBT). A fringe benefit is a payment to an employee not in the form of salary or wages, for example provision of a car that includes for personal use. The fringe benefit tax is paid on the value of this benefit. For a $55,000 car the FBT bill could... Read more

Airbnb reports that as inflation in an area rises, so too does the number of Airbnb hosts, as homeowners seek to cover rising mortgage repayments. Whilst additional income may be welcome, it is important for homeowners to be aware of the tax implications of renting out their primary residence. Income Tax and Deductions Income generated by rental of your home... Read more

Last night the Treasurer handed down his second budget in seven months. My assessment of his first budget in October ’22 was “solid, nothing brilliant, but sound and steady”. At that time, the forecast included a 22/23 deficit and increasing unemployment. Albeit with the benefit of hindsight it is hard to comprehend how Treasury and the Reserve Bank could be... Read more

Cessation of employment has been removed as a deferred taxing point for Employee Share Schemes from 1 July 2022. Employee Share Schemes (ESS) are often used by employers to attract, retain and motivate staff by issuing interests such as shares, rights (including options) or other financial products to their employees, usually at a discount to their market value. ESS interests... Read more