One thing I’ve noticed consistently over the years is that the clients who have the best experience with Freshwater usually have a genuine interest in their tax affairs. They don’t need to understand every piece of tax legislation, but they do like to know what’s happening, why we’re asking certain questions, how their tax position works, and where they’re heading financially.
One of the most common questions we receive every year is:
“When should I do my tax return?”
The answer isn’t always “as early as possible.” In reality, the best time depends on your circumstances, the types of income you receive, and whether you’re expecting a refund or tax payable.
Let’s walk through the factors we consider when recommending the best time to prepare your return.
Every tax season, we answer hundreds of questions from clients in an ever-changing tax landscape. Some are straightforward, some are surprisingly complex, and some involve the question of whether the family dog can be claimed as a security system. (The answer is usually no… but we admire the creativity.)
As we approach the end of another financial year, now is the time to ensure you’re not leaving valuable tax opportunities on the table or creating unnecessary headaches for yourself come July.
Whether you’re an employee, investor, business owner or trustee, these are the ten things we recommend reviewing before 30 June.
After weeks of criticism from accountants, business groups, farmers, start-up founders and estate-planning advisers, a series of concessions were announced this week that have effectively softened some of Australia’s most controversial Federal Budget measures unveiled in May.
If you employ staff, one of the biggest payroll and compliance changes in years is arriving on 1 July 2026. It is called Payday Super and, while the concept sounds simple enough, the impact on small businesses is likely to be significant.
We were planning to buy an investment property, but after the Federal Budget changes to negative gearing and CGT, we are reconsidering. What other tax strategies should high-income PAYG earners be considering?
A recent client situation, combined with the proposed 2026–2027 Federal Budget tax changes, sparked a really interesting conversation among our team about investment structures, company tax rates, capital gains tax, and whether the old-school advice of “never invest through your trading company” is still as black and white as it once was.
The 2026-27 Federal Budget, delivered by Treasurer Jim Chalmers on the evening of 12 May 2026, is one of the most significant overhauls of the Australian tax system in nearly three decades. In a single budget, the Government has made changes to capital gains tax, negative gearing, trust distributions, superannuation, electric vehicles, research and development, and a range of cost-of-living measures. Almost every Freshwater client will be affected in some way.
When I started Freshwater, I wasn’t thinking about building a firm in the way I do now. There was no clear plan around systems, client selection, pricing strategy or long-term sustainability. Like most people starting out, I simply wanted to create something that worked. I wanted to generate income, have some flexibility, and build something that felt like my own.
ATO debt is something I’m having more and more conversations about at the moment, and what’s becoming really clear is that the way businesses have managed it in the past simply doesn’t stack up in today’s environment.
Important Note: During our peak season from July to October, we prioritise maintaining our signature high-quality service. As a result, we may not always be able to take on new clients, however we’re happy to add you to our waitlist.