As June 30 approaches, we’ve crafted this newsletter to keep you informed on key topics for the 2025 tax season. It’s packed with updates and reminders to help you stay on top of your tax, super, and compliance obligations.
Please be aware that under ATO guidelines, we cannot lodge any returns for the current tax year until July 14th, as payment summary information may not be available until then. Shane’s first available appointments are from early October, however please note he will be away for the last two weeks of September. If you would like to be placed on the cancellation list and contacted in case of rescheduled appointments, please let the team know when booking your appointment. Nicole’s calendar is taking bookings from Monday, 28th July, and Jonah and Anthony are available from July 14th. Please contact Keelia at Reception on 8295 1055 or email reception@winterco.net.au to make your booking. Look out for SMS reminders 24 hours prior to your appointment and reply ‘Y’ to confirm.
Winter and Co offer multiple options to handle all your taxation needs. When booking your appointment, you can select the format that works best for you. If you find yourself stuck at work, dealing with unwell kids, or simply facing the inconvenience of cold weather, we can adapt your meeting format. If you are sick or unwell, please refrain from coming into the office — give us a call and we can switch to a phone or Zoom/Teams appointment, or reschedule to a more convenient time.
Last year saw the ATO introduce a Review process for the first time. They checked deductions and claims on around 1.4% of returns lodged by us before issuing refunds. The major focus was logbooks, home office, and travel expenses. As we continue out of the COVID era, there will be more pressure on collection of revenue from the government. This year, we are expecting continued activity in the above areas.
As such, if you are going to claim car expenses, please make sure you have an updated logbook and/or a diary of kilometres travelled if claiming set rate.
If you are claiming home office, please keep a diary or calculation of hours spent working from home. If you work permanently from home and wish to claim a % of interest or rent, we will need to prove a little more than in the past of its “business” nature.
If you are claiming travel expenses, keep all receipts and document a log of the business travel.
Additionally, we believe rental properties will continue to be a focus of the ATO. Correct interest deductions, repairs, and maintenance costs will be integral. Finally, the “Sharing Economy” is a target, including Uber, Air Tasker, and Airbnb income. If this applies to you, please discuss with any member of the team.
The ATO has issued a reminder about upcoming changes to the deductibility of interest. From 1 July 2025, interest charged by the ATO for late payments or underpayments will no longer be tax deductible. If this applies to you, please factor this change into your tax planning.
From 1 July 2025, the superannuation guarantee rate will increase from 11.5% to 12%. The 12% rate will need to be applied to all salary and wages paid to eligible workers on and after this date. Employers should ensure their payroll systems are updated accordingly.
From 1 July 2025, if you are reviewed or audited by the ATO, we will, as part of our existing service, provide a complimentary hour to assist with this process. If you have well-organised and presented records, this will be enough time for us to present and respond to the ATO. If your audit is going to take longer, we will evaluate and provide an estimate of time and cost to complete the review/audit. We will have extra information at Reception regarding this.
The ATO has announced it is ramping up compliance and enforcement activity, with a strong focus on small businesses and the shadow economy. Backed by additional government funding, the ATO will make increasing use of advanced data-matching technologies, targeted audits, and benchmarking tools to identify tax evasion, underreporting, and fraudulent practices. Key areas of focus include GST fraud, cash economy audits, and other small business tax obligations.
A friendly reminder: if you claim deductions, you must be able to provide appropriate evidence. This means:
· Keep all receipts and records for at least 5 years.
· Records must be readable and legible.
· Paper or electronic copies are acceptable (including photos). The ATO’s myDeductions app can help you store electronic records — find out more here:
you’re claiming car expenses using a logbook, the following applies:
· Odometer readings at the start and end of each year.
· Detailed reason for each journey (e.g. ‘client meeting at [location]’ — ‘business trip ’ isn’t sufficient).
· Keep a logbook for 12 continuous weeks during the income year claimed.
· Logbook is valid for 5 years unless your circumstances change (then start a new logbook).
· If you use two cars for work, both require separate logbooks for the same period.
· Keep all related receipts, invoices, and documentation.
Need a template to help track your logbook? We’ve found Driversnote to be a useful tool for many clients:
Finally, some good news: The Australian Government has announced a one-off 20% reduction on student loan balances. If you’re still paying off your degree (along with rent, bills, and your overpriced oat latte habit), this one’s for you. The discount applies to HELP, HECS, FEE-HELP, VET Student Loans, and all the other confusing acronyms. If you have a loan balance as at 1 June 2025, they’ll knock 20% off automatically. No paperwork. No awkward ATO phone calls. Just straight-up debt relief.
Got $27,600 left? Say goodbye to about $5,500 — that’s a big win (and probably more than your tax return this year). Heads up, though, this still needs to pass through Parliament. The government plans to introduce the legislation in July 2025, so keep one eye on the news and the other on your MyGov inbox. And there’s more: From 1 July 2025, the repayment threshold will increase to $67,000 (up from$54,435). This means you’ll get to keep more of your pay before repayments kick in.
Although the team at Winter & Co. are not financial planners, if you would like to know the pros, cons, and costs of setting up a Self-Managed Super Fund (SMSF), please do not hesitate to make an appointment with anyone from the team. It’s not for everyone, but it has its role to play in wealth generation.
Following recent discussions with our auditors — and in line with ATO expectations — we want to give trustees advance notice that more regular property valuations will be required for properties held within Self-Managed Super Funds.
With rising property values, it’s important that valuations are accurate and up to date. This not only ensures compliance but also helps determine your members’ total super balance, which is used for assessing contribution caps (including carry-forward concessional contributions and the bring-forward of non-concessional contributions).
What’s changing?
For the 2025 financial year, we will be requesting updated property valuations as part of your usual annual SMSF documentation. While annual valuations are not always mandatory for all assets, they are required each 30 June for assets supporting a member’s income stream. In addition, given market conditions, yearly valuations for SMSF-held property are strongly recommended.
What counts as acceptable evidence?
The ATO requires that SMSF property valuations are based on objective and supportable data. Valuations should be substantiated by more than one source, where possible. Evidence can include:
A valuation report(whether from a valuer, agent, or online service) should clearly outline the data it relies on — for example, listing comparable sales.
Tip: If your SMSF holds property, now is a great time to plan ahead for your 2025 documentation to avoid delays at audit time. If you have questions about what’s required or need help arranging a valuation, please contact us —we’re happy to assist.
As cryptocurrency continues to grow in popularity, it’s no surprise that the Australian Taxation Office (ATO) is paying closer attention. If you’ve bought, sold, swapped, or spent crypto during the year, it’s essential to understand your tax obligations and report accurately in your tax return.
The ATO treats cryptocurrency as an asset (not a currency). This means capital gains tax (CGT) applies whenever you dispose of it — whether by selling for cash, swapping for another coin, or using it to pay for goods or services. Even small transactions, like trading one crypto for another, can trigger a CGT event.
Tip: If you hold crypto as an investment for 12 months or more, you may be eligible for a 50% CGT discount on your gains.
Many crypto investors are surprised to learn that:
How to Get It Right
We understand that tracking crypto activity can feel overwhelming, especially if you trade frequently or across multiple platforms. The good news is there are tools that can help:
How You Can Help Us Help You
Before we prepare your return:
✅ Provide a complete crypto transaction report for the year (ideally from a tax tool or exchange report).
✅ Tell us if you’ve staked, earned interest, or received airdrops — these also have tax implications.
✅ Reach out early if you’re unsure —it’s always better to clarify than risk mistakes.Remember: Reporting crypto gains accurately helps protect you from penalties and keeps you compliant with ATO requirements. If you need help choosing a tool or figuring out what information to gather, get in touch — we’re here to help!
With cyber threats becoming more sophisticated, protecting your personal and financial information is more important than ever, especially when accessing sensitive services like the ATO online. One of the smartest ways to enhance your security is by using a Digital ID when signing into MyGov.
By using a Digital ID, you add powerful layers of protection that help prevent unauthorised access and reduce the risk of identity theft. Some key benefits include:
If you haven’t already, consider setting up a Digital ID (such as MyID) for safer access to your tax records and financial data.
Getting Started with MyID
Setting up MyID is easy. Here’s how:
Download the app — Search for MyID in the App Store (iOS)or Google Play (Android).
Set up your identity — Follow the prompts to enter your details(name, date of birth, email) and verify using documents like your license, passport, or Medicare card.
Link to MyGov — Sign in to MyGov, select Sign in with Digital Identity, choose MyID, and approve the login on your app.
Access services securely — Once linked, you can view income statements, lodge tax returns, check super balances, and manage business obligations. Need a hand getting started? We’re happy to guide you through the process — just give us a call!
At Winter & Co, the security of your personal information is one of our highest priorities. You may have noticed some recent changes in the way we communicate and share documents—these steps are part of our ongoing commitment to keeping your data safe.
We’ve introduced secure platforms like SuiteFiles electronic signing of Tax Returns and other key documents, providing a streamlined and protected way to complete important tasks. For sensitive details such as Tax File Numbers (TFNs), we now opt to confirm these over the phone rather than by email to avoid unnecessary risk.
Our practice has always taken pride in using innovation to improve the way we serve our clients. As technology evolves, so too do the methods used to protect your information. We are continually reviewing and implementing best practices to ensure that your data remains secure at every touchpoint. Thank you for your continued trust in us. If you have any questions about the new processes or would like help navigating our secure platforms, please don’t hesitate to reach out — we’re here to support you.
At Winter & Co, our team is here to help you navigate tax time smoothly.
Shane Winter and Nicole Barnett (Directors) – Senior tax specialists and advisors, ready to assist with complex tax matters.
Anthony – Available for individual and business returns, with additional expertise in XERO and MYOB training and support.
Jonah – Available for individual and business returns, specialising in cryptocurrency tax and self-managed superannuation fund (SMSF) administration.
Deb – SMSF specialist, assisting with compliance and reporting.
Hayley – Specialist in ASIC, payroll, and ATO matters.
Kayla – Ensuring seamless communication between clients and our professional team, and keeping operations running smoothly behind the scenes.
Keelia – Your friendly first point of contact at Reception, ready to assist with bookings and inquiries.
💲 This individual tax return (without supplementary information) will be $ 200 inc. GST.
📧 Contact Points:
If you need assistance or want to make a booking, please don’t hesitate to get in touch!
HAVE A GREAT 2025/26 FROM ALL THE WINTER & CO TEAM.
And don’t worry — while The Accountant might be back in cinemas, our version is much less intense and way better at replying to emails. Numbers crunched, deadlines met… no secret identities necessary.