September 2026

With tax time in full swing, this month's update is a mix of a permanent win for small businesses.

$20,000 instant asset write-off is now permanent

• Eligible small businesses (turnover under $10 million) using simplified depreciation can immediately deduct eligible assets costing less than $20,000

• The asset must be first used, or installed ready for use, on or after 1 July 2026

• The threshold applies per asset, so multiple purchases can each qualify individually

• Unlike previous years, this is no longer a temporary extension that needs to be renewed each Budget — it's now a permanent feature, which makes planning equipment purchases easier

  
  

ATO warning on tax misinformation

• The ATO has flagged a rise in people making tax and super decisions based on incorrect information from search results, AI-generated summaries, and social media

• Content that sounds convincing and ranks well isn't necessarily accurate or relevant to your circumstances

• Scam messages impersonating the ATO or myGov also tend to spike during tax time

• The safest approach is the same as always: verify anything you read against the ATO's own guidance, or check with your tax agent before acting on it

  
  

Amendment periods extended for eligible small businesses

• The ATO has extended the tax return amendment period to 4 years for certain small business entities

• This gives a longer window to correct errors or pick up missed deductions and incentives — worth reviewing prior-year returns if you think something was missed

  
  

Payroll withholding — a reminder

• With the lowest marginal tax rate now at 15%, make sure payroll software is using the correct 2026–27 withholding tables

• Getting this wrong now means reconciliation issues for both you and your employees down the track

  
  

What to focus on now

• Factor the permanent $20,000 write-off into ongoing equipment planning, not just a pre-30-June rush

• Be cautious of tax tips from search engines, AI tools or social media — check anything material with a professional

• Consider whether prior-year returns are worth revisiting under the extended amendment period

• Double-check payroll withholding is correctly configured for the new financial year

  
  

If you want help navigating these changes or understanding how they apply to your situation, Apex Tax Advisory can assist.