This month at a glance

Welcome to the September edition of our client newsletter. This month, we’ve compiled a selection of timely and practical insights across tax, superannuation and financial planning — helping you stay informed, confident, and in control of your financial decisions.

In this edition:

• BUYING A NEW HOME? MAKE SURE YOU KNOW THE TAX INS AND OUTS: With house prices failing in some major capital cities, you may be looking to buy a home – either as a first home buyer or otherwise.
• COLLECTABLES – DON’T GET CAUGHT OUT!: Capital gains tax does not just apply to “big ticket” items such as real estate, farms and shareholdings. It also applies to a special class of assets known as “personal use assets”, and in particular, those personal use assets known as “collectables”.
• THE “WIDOW TAX” AND JOINTLY OWNED PROPERTY: There has been a lot of talk in the media about the government’s new “widow tax” following the Budget brought down earlier in the year.
• CONCESSION CARDS: Government concession cards, including the Commonwealth Seniors Health Card, Pensioner Concession Card, Health Care Card and state based Seniors Cards, can save you a lot. They cut the cost of healthcare, prescriptions and everyday bills. Several rates and thresholds affecting eligibility change on 20 September 2026, so now is a good time to review what the cards are worth and check whether you qualify.
• CLAIMING WORK EXPENSES: Everyone loves a work-related deduction. From the 2026-27 income year there is a standard deduction of up to $1,000 for work-related expenses, and it applies automatically. This will simplify things for many. However, if your claims exceed $1,000 you still need to substantiate every dollar.
• CAN MY SMSF AND I CO-INVEST IN A PROPERTY: Since 10 August 2026, SMSFs can no longer use a Limited Recourse Borrowing Arrangement (LRBA) to acquire residential property. Existing arrangements are grandfathered, and borrowing to acquire business real property is not affected. Co-ownership may be a solution for SMSFs without enough cash to purchase a property outright.

 

Bonus reads this month:

Employee or Contractor

If you run a business, then the difference between engaging an employee and an independent contractor is a crucial matter – because if you engage a contractor there will be no obligation to pay annual leave or sick leave, and generally, no obligation to pay superannuation. Read it here.

Why do some large super funds offer a “retirement bonus”?

If you are approaching retirement, you may have heard that some APRA regulated super funds pay a “retirement bonus” or “pension bonus” when you move your super into a retirement phase pension. It is money added to your account reflecting a provision of tax set aside on future capital gains. Read it here. 

We hope you find this edition informative and valuable. As always, if you have any questions or would like advice tailored to your circumstances, please don’t hesitate to get in touch.

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2026 – 09 – MBS Monthly Update