Australian businesses should prepare for major changes to payment processing, following new reforms announced by the Reserve Bank of Australia. From October 2026, surcharges on debit and credit card payments will be banned , impacting how businesses recover transaction costs and price their goods and services. What’s Changing? The reforms will apply to all major payment networks, including: eftpos Mastercard Visa Key changes include: Removal of card surcharges on debit, prep

The ATO has released draft Taxation Ruling TR 2025/D1 , providing guidance for individuals who earn income from rental properties, including short-term rentals and renting out part of their home. The draft ruling addresses: When rental income is assessable When losses or outgoings can be claimed as deductions How to apportion expenses when a property has both income-producing and private use When deductions for a holiday home will be denied because it is a “leisure facility”

As the end of the year approaches, the ATO is reminding employers of their Fringe Benefits Tax (FBT) obligations when planning workplace celebrations, staff parties, events, and gifts. While many employers provide food, drinks, or small gifts during the festive period, some of these benefits may be exempt from FBT.