Accounting Archives - Holzworth Partners

3 Jun 2025

Tax Question: Cryptocurrency and Capital Gains Tax

When it comes to investing in cryptocurrency, many individuals overlook the tax consequences of potentially high levels of performance returns. A recent client case highlights the complexities of managing capital gains tax (CGT) when transferring crypto assets from personal ownership to a more tax-effective structure, such as a company, trust, or SMSF. With significant gains already accruing, understanding the CGT implications is critical before making any changes to how you hold the investment. The client

3 Jun 2025

Understanding Payday Super – What You Need to Know

By Jane Purnell

Starting 1 July 2026 (if passed as law), Australian employers will be required to pay employees’ superannuation contributions at the same time as wages — a move commonly known as Payday Super. This change, announced in the 2023–24 Federal Budget, is designed to help workers grow their retirement savings faster and reduce unpaid super across the workforce. What is Payday Super? Currently, employers are only required to pay superannuation contributions quarterly. Payday Super means employers

9 May 2025

7 Life Events You Should Always Discuss With Your Accountant, Financial Adviser or Solicitor

By Jane Purnell

Looking for expert advice during major life changes? You're not alone. Whether it's buying a home, starting a business, or planning for retirement, the right guidance from an accountant, financial adviser, or solicitor can mean the difference between financial stress and long-term success.In this article, we outline seven important life events where getting professional advice is not just helpful—it’s essential. 1. Starting or Growing a Business If you’re launching or scaling a business, expert advice

2 May 2025

End of Financial Year: Superannuation Cut-Off Dates You Need to Know

By Jane Purnell

As 30 June 2024 quickly approaches, it’s time to prepare and finalise your superannuation contributions and pension withdrawals to ensure they are processed within this financial year. This is a key opportunity to optimise your tax position, maximise contribution caps, and stay compliant with regulatory requirements. Why Timing Matters Super contributions and withdrawals are not considered effective until the transaction has been fully processed by the fund. Simply initiating a payment on or near 30

11 Apr 2025

Meet the Team: Mausami Bhavsar

By Jane Purnell

Meet the Team: Mausami Bhavsar – Accountant At Holzworth Partners, we pride ourselves on the dedication and talent of our team. Today, we’re excited to introduce one of our new passionate accounting professionals – Mausami Bhavsar (Mansi), whose commitment to accuracy, integrity, and client service makes her an invaluable part of our practice. A Career Rooted in Precision and Professionalism Mansi is a detail-oriented and highly skilled accountant with a strong foundation in both Australian and

9 Apr 2025

EOFY Preparation Should Start Now

By Jane Purnell

As we move into the final quarter of the financial year, now is the perfect time to get your house in order and start planning for End of Financial Year (EOFY) success. Waiting until June to begin your EOFY preparations can leave you scrambling — and missing key opportunities to minimise your tax, maximise deductions, and strategically position your business or personal finances. Why Planning Early Matters More Time for StrategyEarly preparation gives you the

5 Feb 2025

How Businesses Can Access Private Credit for Growth

By Jane Purnell

As traditional banks tighten lending requirements, private credit and alternative lending options are becoming vital sources of financing for businesses. This article explores how businesses can leverage private credit to fuel expansion, manage cash flow, and achieve financial stability in 2025. Understanding Private Credit Private credit refers to non-bank loans issued by alternative lenders, institutional investors, and private equity firms. Unlike traditional bank loans, private credit offers more flexible terms, faster approval processes, and tailored

3 Oct 2024

Capital Gains Tax: when is an asset deemed to be sold, lost or destroyed?

By Mark Holzworth

To know when your liability for tax under the provisions relating to capital gains (or losses) arises, you first need to know what is considered to be a capital gains tax (CGT) event? When you dispose of an asset that is subject to CGT, it is called a CGT event. This is the point at which you make a capital gain or loss. Common disposals that will trigger a CGT event include: selling an asset,

5 Sep 2024

Via the ATO, the Commonwealth Government now knows even more about you!

By Mark Holzworth

The Australian Taxation Office (ATO) continues to increase its data gathering programs, having registered three further data-matching notices, stating these are for “compliance related purposes”. Below we summarise the latest initiatives. Notice of a lifestyle assets data-matching program - 26 August 2024 The ATO will acquire lifestyle assets data from insurance providers for 2023-24 through to 2025-26. Insurance policy data will be collected for specified classes of assets, where the relevant asset value is equal to or

6 Aug 2024

Customising ESG Investing with a SMSF: Aligning Investments with Your Values

By Jane Purnell

As awareness of environmental, social, and governance (ESG) issues grows, many investors seek to align their investment portfolios with their personal values. ESG investing, which focuses on companies' ethical and sustainable practices, has become a popular choice for those who want to make a positive impact while achieving financial returns. For Australians, one of the most effective ways to customise ESG investments is through a Self-Managed Super Fund (SMSF). This article explores the benefits of