Here are the key updates and actions to be aware of this month.
Trusts: Don’t Miss the 30 June Deadline
If you have a family trust or business trust, planning ahead is essential.
Trustees must decide how income will be distributed to beneficiaries before 30 June.
Why this matters:
- Missing the deadline can result in income being taxed at the top marginal tax rate
- Incorrect or invalid distributions can create compliance risks
Start planning now:
- ✔ Estimate trust income for the year
- ✔ Review eligible beneficiaries
- ✔ Check your trust deed
- ✔ Discuss options with your accountant
Tip: Early planning gives you more flexibility and better tax outcomes.
ATO Focus Areas in 2025/26
The ATO continues to increase its data matching and compliance activity.
Key areas under scrutiny include:
- Work-related expense claims
- Rental property income and deductions
- Undeclared income (including side hustle income)
- GST reporting errors
Being proactive and keeping accurate records is the best way to avoid issues.
Small Business: Stay Ahead of Your Obligations
For business owners, now is the time to get organised before year-end.
Key things to review:
- BAS and GST reporting accuracy
- Cash flow and upcoming tax obligations
- Payroll and superannuation compliance
Early preparation can reduce stress and help avoid last-minute surprises.
Employers: Super Guarantee Deadline Coming Up
If you employ staff, your March quarter super contributions are due by 28 April.
What to check now:
- ✔ Super is being calculated correctly
- ✔ Payments will be made on time
- ✔ Payroll systems are up to date
The Australian Taxation Office continues to focus on timely super payments, and late payments can result in penalties.
Tip: Paying early can help avoid last-minute issues and cash flow pressure.
Small Business: Plan Ahead for Asset Purchases
If you’re considering buying equipment or assets for your business, now is a good time to plan ahead.
Eligible small businesses may be able to claim an immediate deduction for assets costing under $20,000, provided they are installed and ready for use before 30 June.
Examples include:
- Tools and equipment
- Office equipment and technology
- Vehicles (subject to limits)
Tip: Don’t rush into purchases. Make sure they suit your business needs and speak to us first.
Go Digital with Your Record Keeping
The ATO is encouraging individuals and businesses to move towards digital record keeping.
Benefits include:
- Better accuracy and fewer errors
- Easier tax and BAS preparation
- Real-time visibility of your finances
Cloud accounting software can make managing your tax obligations much simpler.
Super Update (Looking Ahead)
The general transfer balance cap is set to increase from $1.9 million to $2.1 million from 1 July 2026.
While this won’t affect everyone, it may create opportunities for those with larger super balances.
If this could apply to you, it’s worth planning ahead.
Key Dates
- 31 March – FBT year end
- 28 April – Super guarantee due (March quarter)
- 21 May – FBT lodgment due
- 15 May – Tax return lodgment deadline (for many clients)
How We Can Help
We’re here to support you with:
- Tax planning before EOFY
- Trust distribution strategies
- FBT compliance and reporting
- Business and cash flow reviews
If you’d like to review your situation or get ahead of your tax position, please get in touch with your local TaxAssist Accountant.
Stay Connected
If your circumstances have changed (new business, investments, property, or employment changes), let us know so we can provide tailored advice.
Date published 27 Mar 2026 | Last updated 27 Mar 2026
