reception » Winter & Co.

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.

📅 Appointments

Please be aware that under ATO guidelines, we cannot lodge any returns for the current tax year until July 14^th, 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.

💻 Face to Face, Zoom, Teams or Phone

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.

📌 Lessons from Tax Season 2024 and into 2025

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.

💡 ATO Reminder on Interest Deductibility Changes from 1 July

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.

🔹 Superannuation Guarantee Rate Increase

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.

🕵️ ATO Reviews and Audits

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.

🕵️ ATO Audit Crackdown on SMEs (Small to Medium Enterprises)

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.

📝 Record Keeping: Deductions and Logbooks

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:

MyDeductions

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:

Driversnote

🎓 Student Loan Discount

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.

🏦 Self-Managed Super Funds – Is It For Me or For Us?

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.

🏠 SMSF Property Valuations

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:

Recent comparable sales data for similar properties

A formal appraisal or valuation by an independent real estate agent or property valuer

The price paid for the property (if recently purchased, with no material changes since)

Net income yields for commercial property (only where tenants are unrelated — and not sufficient on their own)
Consideration of any improvements or changes to the property since the last valuation

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.

🪙 Cryptocurrency Capital Gains: What You Need to Know This Tax Time

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:

Every trade or swap counts, not just when converting crypto to AUD.

The ATO has data-matching programs and receives information from exchanges, so undeclared gains are easily detected.

It’s your responsibility to keep detailed records — including acquisition dates, costs, disposal proceeds, and transaction details.

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:

Crypto tax software platforms (e.g. Koinly, CryptoTaxCalculator, CoinTracking, Syla) — These link to your exchanges and wallets, automatically import transactions, and generate ATO-compliant reports.

Exchange transaction reports — Most exchanges (e.g. Binance, CoinSpot, Coinbase) provide downloadable annual tax summaries — please provide these to us.

Spreadsheets or manual logs — If you prefer, you can maintain your own records, as long as they’re complete and detailed.

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!

🛡️ Strengthening Your Online Security: Why Using Digital ID for ATO Access Matters

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:

Verified identity — Digital ID systems require you to prove who you are using official documents like your driver’s licence or passport, making it harder for criminals to impersonate you.

Two-factor authentication — Adds a second layer of protection beyond your password.

Stronger defence against scams — Digital ID operates through secure, trusted pathways that help you avoid phishing attempts and fake login pages.

Encrypted data transfer — Keeps your information safe from hackers during login.

Less reliance on passwords — Reduces risks linked to weak or reused passwords.

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!

🛡️ Keeping Your Info Safe: Email Security Updates

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.

Meet the Team, Fees & Contact Points

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.

At Winter & Co, your security is our priority. Recently, we’ve noticed an increase in scam emails, texts, and phone calls impersonating the Australian Taxation Office (ATO). These scams can look highly convincing, so it’s essential to stay vigilant and protect yourself from potential fraud.

Example Scam Email

Here are some images of a recent scam email (see below) that falsely claims to be from the ATO, asking for payment and personal information. Scams like this often contain subtle errors that you can spot, such as:

Spelling Mistakes: In the image, “ATO” is written as “AT0” (using a zero instead of the letter “O”).
Unusual Language: Scam emails might have poor grammar or awkward phrasing.
Generic Greetings: Messages often lack personal details or specific references.

Key Tips to Identify Scams

While scammers are getting better at making emails look legitimate, here are some tips to help identify a fraudulent message:

Check for Spelling and Grammar Errors: Even a minor error, such as “AT0” instead of “ATO,” can indicate a scam.
Look at the Sender’s Email Address: Scammers may use addresses that resemble legitimate ATO emails but contain small variations.
Avoid Clicking Suspicious Links: If you’re asked to click a link to “complete payment” or provide personal details, be cautious.
Do Not Use Links to Access MyGov: Instead of clicking any links claiming to take you to myGov, it’s best to log in directly and check for any notifications or updates there.

Unsure? Call Us First

If you’re uncertain whether a message is legitimate, reach out to us at Winter & Co. We can check your ATO portal on your behalf to see if there are any genuine notices or outstanding balances.

Important: If you’ve already provided personal or financial details to a suspected scam, contact the ATO directly as soon as possible to secure your account and prevent further issues.

Stay safe and remember that we’re here to support you.

IN THE LAST WEEK, THE ATO HAVE SENT AN EMAIL TO A NUMBER OF TAXPAYERS SUGGESTING THEY ARE CLAIMING TOO MUCH. IF YOU RECEIVED THIS EMAIL THERE IS NOTHING TO DO IMMEDIATELY. THE EMAIL IS QUITE INTIMIDATING.

IT IS A TACTICAL CHANGE FROM THE ATO IN THAT THEY WILL HOLD UP PERSONAL RETURNS AND REQUEST PROOF OF CLAIMS WITHIN 28 DAYS. MAKING SURE YOU HAVE RECEIPTS AND LOG BOOKS FOR WORK RELATED CLAIMS IS ALWAYS IMPORTANT AND CONTINUES TO BE IMPORTANT. IF YOU DID RECEIVE EMAIL PLEASE LET THE TEAM KNOW SO WE CAN DISCUSS AND PLAN.

IF YOU HAVE ALREADY READ EMAIL….THE BALANCE IS THE SAME….

HAPPY 30 JUNE!!!!

Its an Olympic Year, good luck to all our Athletes in Paris.

The team at Winter & Co in Olympic spirit are fully focussed on improving refunds and or reducing amounts to pay to allowable levels.

To create excitement from 1^st July 2024 we will pay less Tax, see later for details

Where Did the Year Go!?

As June 30 rapidly approaches, we’ve crafted our annual taxation newsletter to ensure you’re fully prepared for the end of financial year. Keep in mind that not all information will be relevant to every client, as this newsletter caters to both individuals and businesses.

Appointments

Please be aware that under ATO guidelines, we cannot prepare any returns for the current tax year until July 14th, as payment summary information may not be available until then. However, if you need to file returns for previous tax years, we can book those appointments prior to July 14th.

Shane will be taking appointments from July 15th, and Nicole will be taking returns from July 22nd. This may affect appointment availability, so please plan accordingly.

Shane’s diary is looking full until mid-September but will have some openings. For those seeking earlier appointments, Jonah and Anthony are available.

Please call Keelia at Reception on 8295 1055 regarding bookings and availability. Also, look out for SMS reminders for your appointments and reply “Y” to confirm, you will receive this 24 hours prior to your appointment.

Face to Face, Zoom, Teams or Phone

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.

Late changes

If you find yourself stuck at work, dealing with unwell kids, feeling under the weather, or simply facing the inconvenience of cold weather, we can adapt your meeting format. If you’re unwell, we can switch to a phone or Zoom appointment. If you prefer to come in, we can reschedule to a more convenient time.

To book your appointment, please call Reception at (08) 8295 1055.

Scam Warnings

Exercise caution regarding emails, phone calls, and text messages claiming to be from the ATO.

If you suspect that a phone call, SMS, voicemail, email, or interaction on social media claiming to be from the ATO is not legitimate, refrain from engaging with it. You should either:

· Phone the ATO on 1800 008 540

· Contact us at Winter & Co and we will assist as we can

· Please click on the below to see how to spot and report a scam

https://www.ato.gov.au/online-services/scams-cyber-safety-and-identity-protection/verify-or-report-a-scam

Another issue is the “hacking” of MyGov. It is recommended to update and change passwords within your account.

ATO Key Focus Areas

As we gear up for the approaching ‘tax time’, it’s important to note that the ATO is focusing on three prevalent errors made by taxpayers:

1. Incorrectly claiming work-related expenses

2. Inflating claims for rental properties

3. Failing to include all income when lodging

For more info, please go to
https://www.ato.gov.au/media-centre/ato-flags-3-key-focus-areas-for-this-tax-time

Superannuation

Super Guarantee Changes 2024:

Starting July 1, 2024, the Superannuation Guarantee (SG) rate will increase from 11% to 11.5%. This change is part of the government’s effort to boost retirement savings for Australian workers. Employers must update their payroll systems to reflect this new rate.

Key Points:

Effective Date: July 1, 2024
New Rate: 11.5%
Employer Action: Adjust payroll systems and communicate changes to employees

This is for EOFY Payroll Finalisation:

As EOFY approaches, here are crucial dates and resources to streamline your payroll processes:

Key Dates:

18 June: Submit and approve Auto Super batches by 2:00pm AEST to ensure contributions reach superannuation accounts by 30 June for tax deductions.
14 July: STP finalisation deadline.

Resources:

Processing EOFY Payroll: Stay updated on changes and steps for a smooth finalisation.
Payroll Finalisation Checklist: Download a checklist to guide you through year-end payroll tasks.
Finalise STP Video: Refresh your knowledge on STP finalisation.

Click Here for Processing EOFY Payroll

Click Here for Payroll Finalisation Checklist

Click Here for Finalise STP Video

Self-Managed Superannuation Funds:

With the end of the Financial Year approaching, please ensure that the Minimum Pension Payment amounts for the 2024 Year have been withdrawn from the Super Fund Bank Accounts before 30 June 2024.

To confirm or if you are unsure on the minimum amount for 2024, please feel free to call or email me at deb@winterco.net.au

Concessional and Non-Concessional Contributions Cap

The concessional contributions cap is the maximum amount of before-tax contributions you can add to your super each year without incurring extra tax.

Effective1 July 2024, the concessional contributions cap will be $30,000.

Between1 July 2021 and 30 June 2024, the cap was $27,500 annually.

From1 July 2017 to 30 June 2021, the annual cap was $25,000.

The cap increases in $2,500 increments, based on the average weekly ordinary time earnings (AWOTE) measure.

If you have unused cap amounts from previous years, you may be able to carry them forward to boost your contribution caps in future years.

The non-concessional contributions cap is the maximum amount of after-tax contributions you can add to your super each year without incurring extra tax.

Starting1 July 2024, the non-concessional contributions cap will be $120,000. This capis now reviewed annually to align with average weekly ordinary time earnings(AWOTE). Contributions exceeding this cap may be subject to additional tax.

Tax

Tax Cuts

The Australian Government has announced adjustments to individual income tax rates and thresholds, effective from 1 July 2024.These modifications will apply to all taxable income earned from that date and will not affect your 2023–24 tax return.

Starting 1 July, the changes will include:

Reducing the 19% tax rate to 16%
Reducing the 32.5% tax rate to 30%
Increasing the 37% tax threshold from $120,000 to $135,000
Increasing the 45% tax threshold from $180,000 to $190,000

These adjustments will result in a tax cut for every Australian taxpayer.

For more information, please click below

Click Here for more information on Tax Cuts

Temporary Increase to Instant Asset Write Off

From 1 July 2023 to 30 June 2024, the instant asset write-off threshold will temporarily increase to $20,000. Small businesses meeting the small business test can immediately deduct the full cost of eligible assets costing less than $20,000 each, provided they are first used or installed ready for use within this period.

Assets valued at $20,000 or more, which do not qualify for the instant write-off, can be added to the ‘small business simplified depreciation pool’ and depreciated at 15% in the first income year and 30% in subsequent years.

Xero Payroll Finalisation Reminder

To help you prepare for EOFY and process your year-end payroll, we’ve compiled a list of key dates and resources to keep in mind.

Key Dates for Your Diary:

18 June: Submit and approve Auto Super batches by 2:00pm AEST to ensure contributions reach superannuation accounts by 30 June 2023 for tax deductions this financial year.
14 July: STP finalisation date.

Fees

This year’s individual tax return without supplementary information will be $195 inc. GST.

Please note, we no longer have a PO Box and ask all mail to be directed to the office address: 67 Broadway Glenelg South SA 5045

THE FULL TEAM, FEE’S AND CONTACT POINTS

Shane Winter and Nicole Barnett [Directors] will assist as the senior tax specialists and advisors.

Anthony will be available for individual and business returns. He also specialises in XERO and MYOB training and support.

Jonah will be available for individual and business returns. He also specialises in cryptocurrency tax and self-managed superannuation fund administration.

Deb will continue to specialise in SMSF

Hayley will continue to specialise in ASIC, Payroll and ATO Matters

Kayla will provide support between clients and professional staff

Keelia will your friendly first touch point on the phone at front reception and appointments

This year’s individual tax return without supplementary information will be $195 inc. GST.

Kayla : kayla@winterco.net.au
Anthony : anthony@winterco.net.au
Jonah : jonah@winterco.net.au
Deb : deb@winterco.net.au
Hayley : hayley@winterco.net.au
Keelia : reception@winterco.net.au

And for those of you that got to the bottom of the newsletter, thank you for reading and hopefully this makes you smile!

Here We Go Again..

Where does the year go? June 30 fast approaching we have produced our annual taxation newsletter to make sure everyone is well prepared.

Please note not everything will apply to all clients, it is designed for individuals and businesses.

The Tax Team

[In addition to Shane and Nicole]

Well trained and enthusiastic to provide the best outcome for the valued clients at Winter & Co. Feel comfortable to embrace their enthusiasm and knowledge.

Appointments

Please note under ATO guidelines we cannot prepare any returns until the 14th of July because payment summary information cannot be guaranteed to be available. The office will be open as normal during this period. There may be the opportunity for limited appointments in the week of the 10th if urgent and prefill information is available.

Please note, Shane will be away the week of the 14th of August helping his son transition to US College. Nicole will be away the week of the 17th of July for a family wedding interstate. This will limit the number of available appointments in the first few months.

Thankfully as in the past, Shane’s diary is filling fast, and we are currently taking appointments into late August/Early September. Please do not hesitate to book in with Jonah and Anthony if you are wanting an earlier appointment.