The Fair Work Commission has updated 125 modern awards to reflect changes in the superannuation industry. Over time, some awards have included super funds that have merged, closed, or changed names. This created inconsistencies between the award wording and the funds that actually operate today. This review was carried out to ensure the default fund lists in awards remain accurate and up to date.
The $20,000 instant asset write-off is now law. Small businesses with an annual turnover of less than $10 million can immediately deduct the business portion of eligible assets that cost under $20,000. Assets can be new or second-hand. They must be first used or installed, and ready for business use, between 1st July 2025 and 30th June 2026 . The $20,000 threshold applies per asset, so you can claim multiple assets if each one is below the limit. Normal deduction rules still apply, and you’ll need records to support your claim. For more information visit, Instant asset write-off for eligible businesses | Australian Taxation Office
Operation Topaz has drawn fresh attention to how closely compliance activity is being carried out across regional and seasonal industries. The coordinated effort, led by the Australian Taxation Office, the Fair Work Ombudsman and Home Affairs immigration compliance officers, focused on labour hire and agriculture businesses in the Gatton region of Queensland. The operation brought together checks on payroll accuracy, tax reporting, employee records and work-rights obligations. While many businesses were able to demonstrate compliant practices, others faced significant liabilities, back payments and penalties. Some matters remain under review.
A new year always brings a fresh sense of possibility, a chance to reset, refocus, and do business with a little more clarity and confidence. As business owners, it’s easy to roll straight into January without stopping to plan. But taking a short pause now to set some clear goals can make all the difference to how 2026 feels, not just financially, but mentally too. At Flawless Figures Bookkeeping, we see it all the time: stress often comes from uncertainty, not from lack of effort. When your goals are clear and your numbers are under control, decisions become easier and business feels lighter. That’s what we mean by: Alleviate the stress with flawless bookkeeping.
