Blog
View a selection of articles and blog posts by Trak Accounting.
You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of $100k issued. But it wasn’t you. And you certainly didn’t get a $100k refund in your bank account. What happens now? In what is rapidly becoming the most common tax scam,Read More »
If you run a business, you already know the juggling act that comes with managing the payroll process — paying staff on time, managing cash flow, and staying compliant. From 1 July 2026, there’s a major change coming that will reshape how you handle superannuation contributions for staff. It’s called Payday Super, and it becameRead More »
If you’ve invested in further study — an MBA, a leadership course, or a postgraduate qualification — you might be wondering: can this help at tax time? For many professionals, the answer is yes — but only if the right boxes are ticked. The ATO’s rules on self-education expenses are strict, and the line betweenRead More »
The ART has denied a YouTuber’s claim for GST credits on the basis that there was no clear, reliable andcorroborative evidence linking the expenses to an enterprise. This case explores the importance ofmaintaining substantial evidence and records to prove acquisitions are made in carrying on an enterprise and demonstrates the scrutiny around digital, home-based contentRead More »
On 13 October 2025 the Federal Treasurer announced some significant changes to the design of the proposed Division 296 tax. Some of the key changes are: Rather than ATO-reconstructed member-level earnings based on balance movements, the revised modelmoves to a fund-level realised-earnings approach. Funds (including SMSFs) will calculate their taxable/realised earnings for the year, attributeRead More »
Leaving debts outstanding with the ATO is now more expensive for many taxpayers. As we explained in the July edition of our newsletter, general interest charge (GIC) and shortfall interest charge (SIC) imposed by the ATO is no longer tax-deductible from 1 July 2025. This applies regardless of whether the underlying tax debt relates toRead More »
A recent decision of the Administrative Review Tribunal (Goldenville Family Trust v Commissioner of Taxation [2025]) highlights the importance of documentation and evidence when it comes to tax planning and the consequences of not getting this right. The case involved a family trust which generated significant amounts of income. For the 2015, 2016 and 2017Read More »
