The Aevum Accounting Podcast

About The Aevum Accounting Podcast

Navigate the complexities of Australian tax with clarity and confidence. Hosted by AI voices and brought to you by Ben De Rosa, the director of Aevum Accounting Pty Ltd, this podcast cuts through the jargon to deliver expert insights on individual tax returns, business taxation, compliance, and strategic tax planning. Whether you're an individual looking to maximise your refund and understand your obligations, or a business owner aiming for optimal tax structuring and compliance, we provide reliable guidance. Tune in for practical strategies, up-to-date information, and the peace of mind.

Publisher

Aevum Accounting

Category

business

Language

en

Explicit

No

First episode

26 Jun 2025

Latest episode

14 Oct 2026

Latest episodes

63 episodes in the feed.

1. 

   14 Oct 2026

   The Line in the Sand, Part Two: Your Business and the 1 July 2027 Reset

   Part two of two. Last week was your property. This week it's the business you own, and the same date: 1 July 2027. The quick recap: from 1 July 2027 the fifty per cent capital gains discount goes to zero for individuals and trusts, replaced by indexation and a thirty per cent minimum tax. The reset protects growth you've already had. Everything is treated as sold on 30 June 2027 and bought back the next day, growth up to that line keeps the discount, and nothing is payable until you actually sell. Mia and Leo are joined again by tax strategist Harvey Green, who starts with the good news: no business has to get a valuation done on 1 July 2027, and plenty won't need one at all. Who it touches depends on what you own and who owns it. If your business sits inside a company and the company sells the business, most of its own assets aren't reset, because a company never had the discount to protect. The shares are different: sell the shares instead and they are reset, so there's a 30 June 2027 figure underneath them. Sole traders, family trusts and each partner in a partnership get the reset on the business assets directly, goodwill included. Plenty of family businesses are a mix, with the company's goodwill generally untouched and the premises in a family trust or the owners' names reset. Last week's formula is still a draft, so for a business, market value is the only route today. Even if it becomes law, a smooth compounding curve fits a business badly, because business value moves in steps. For a business built from scratch it can push most of the growth after the line: start with $1,000 twenty years before the reset, sell for $2 million five years after, and the draft formula puts nearly four-fifths of the growth after it. Then the biggest number in the whole topic. Anything bought before 20 September 1985 and held by the same owner the whole time is pre-CGT, and as a rule the gain is simply ignored. On 1 July 2027 that stops, in every entity, companies included. Everything up to the day stays tax-free; everything after it is taxable. A couple who bought their factory in their own names in 1979, worth $4 million at the reset and sold for $6 million in 2035, would as a rule pay nil today. After the reset, $2 million of growth is in the system. Harvey's advice for these owners: a proper valuation, which can be done after the date, but don't leave it for years. On the small business concessions, three of the four are protected: the 50% active asset reduction, the retirement exemption and the small business rollover. The 15-year exemption isn't on that list. Treasury has drafted a fix, but as of today that bill hasn't been introduced into Parliament, so it isn't law, and pre-CGT owners face a further gap the draft fix doesn't cover. The better news: from 2027-28 the active asset reduction opens up to businesses with turnover under $10 million, up from $2 million, and the 30% minimum is worked out after the concessions. And before you restructure, talk to us first. Treasury's own draft material says some rollovers after the reset could trigger the gain the reset has been holding over. Already an Aevum Accounting client with a business? Bring it to your next catch-up and we'll go through what you own and who owns it. Not a client yet? Visit aevumaccounting.com.au to book a session. Shoutout: A massive thank you to Jane for the fantastic 5-star review! Important Disclaimer: The information shared in this episode and description is for general informational purposes only and does not constitute specific tax or financial advice. Everyone's situation is unique, and tax laws are complex. For personalized advice tailored to your specific situation, we always recommend consulting with a qualified professional at Aevum Accounting.

2. 

   7 Oct 2026

   The Line in the Sand: Your Property and the 1 July 2027 Reset

   Part one of two. Everything here turns on a date that hasn't happened yet: 1 July 2027. If you own an investment property, something happens to it that day whether you do anything or not, and most people have heard the bad half of it and not the good half. The bad half: from 1 July 2027 the fifty per cent capital gains discount goes to zero for individuals and trusts. In its place your cost base gets indexed for inflation and you pay a minimum of thirty per cent tax on the gain. That is law. It passed in June. The good half, and the part almost nobody has been told: the new rules don't apply to growth you've already had. On 30 June 2027 you're treated as having sold every asset you own, and on 1 July as having bought it all back at what it was worth that day. A sale that never happens, drawing a line in the sand. Growth below the line keeps the fifty per cent discount. Growth above it goes through indexation and the thirty per cent minimum. Nothing is payable on the day. No election, no notification, nothing to report in your 2026-27 return. It's all deferred until you actually sell, and the twelve month rule is untouched. Mia and Leo are joined by tax strategist Harvey Green, who opens by correcting himself. In episode 41 he introduced the reset with a 1982 farm as the example, which left most listeners thinking it was about very old assets. It isn't. It catches essentially every asset an individual or a trust holds on 30 June 2027. Then the question everyone asks: what number goes in the box? Two possible answers, and only one currently exists. A market value at the reset date is the default and right now the only route available. A formula is coming, but the draft Treasury released in August hasn't been registered, so it isn't law and nobody can use it yet. And it won't spread growth evenly, whatever you may have read. It applies a compounding daily growth rate, which lands close to reality for a property that climbed steadily and some distance off for one that sat flat then doubled, or one you renovated. The most useful line in it: you don't choose between them until the tax return for the year you actually sell. Which could be fifteen years away. So no, you don't need a valuation done on 1 July 2027. There's no deadline in the legislation, and the explanatory memorandum never once uses the word valuation. The date is fixed but the report can be written later, and retrospective valuations are ordinary. What waiting costs you is evidence, not eligibility. On your own home: Treasury says plainly the main residence will continue to be exempt, and the exemption itself hasn't been touched. What the Act doesn't do is carve your home out of the deemed sale, and nothing published so far explains how the two meet. Then the rule everyone thinks they understand. The six year rule is not six years of free rental. It only works on a home you lived in first, because the section opens "if a dwelling that was your main residence ceases to be your main residence". Never lived in it and it doesn't switch on at all. When you sell, the gain is apportioned by the days it wasn't your main residence over the days you owned it. Not the days it was rented, so a year sitting empty counts against you too. And moving in later doesn't fix it, however long you stay. Next week: the business side of the same reset. Already an Aevum Accounting client with a rental? Bring it to your next catch-up and we'll go through the dates. Not a client yet? Visit aevumaccounting.com.au to book a session. Shoutout: A massive thank you to Ashlee for the fantastic 5-star review! Important Disclaimer: The information shared in this episode and description is for general informational purposes only and does not constitute specific tax or financial advice. Everyone's situation is unique, and tax laws are complex. For personalized advice tailored to your specific situation, we always recommend consulting with a qualified professional at Aevum Accounting.

3. 

   30 Sept 2026

   The Machinery: How You Value It, and the Trap That Costs the Most

   Part three of three, and this is the technical half, where the real money is. There are three ways to value meal entertainment. Most small businesses pick the easy one. For most of them it's the wrong one, and we cover all three, including the twelve-week register almost nobody uses. Mia and Leo are joined by tax strategist Harvey Green. The actual method is the default, so if you've never elected anything, this is what you're on. You work out what was spent on your employees and their associates, either exactly or per head, and pay tax on that. The fifty-fifty split is the popular one. Add up everything you spent for the year, staff and clients together, and pay tax on half. No splitting bills, no counting heads. It's easier, and for a lot of small businesses more expensive, because electing it switches off both the minor benefits and business premises exemptions. Here's what that costs. A party for forty people at six thousand six hundred dollars is a hundred and sixty-five dollars a head. On the actual method it's under three hundred, so no fringe benefits tax at all. Elect the fifty-fifty split and three thousand three hundred dollars becomes taxable, on a party that would have cost you nothing. You do get half the spend deductible and half the GST back, but that's a much smaller number than the tax. The recommendation from the team, for most small businesses with a handful of staff: stay on the actual method, don't elect anything, keep your exemptions. The fifty-fifty split earns its place when you're feeding hundreds of people, or when most of your entertainment goes to clients. It just isn't the default choice people assume it is. On the minor benefits exemption, the way most people describe it is wrong. It is not "under three hundred dollars is free". There are two tests, and the dollar figure is only the first. The second is whether it would be unreasonable to treat it as a fringe benefit, judged on how often you provide it, what it adds up to, and whether it's really a reward for work. A formal monthly incentive scheme fails. A one-off voucher for someone who pulled a deadline out of the fire works. And there's no number in the law where it stops, whatever rules of thumb you've heard. Records: five things per occasion. Date, how many people, whether each was an employee or not, cost, and what and where. Your own people need naming; everyone else just counting. What isn't enough is a credit card statement with a total on it. Then the story. A director takes the team to dinner, pays on a personal card, doesn't get reimbursed, and assumes there's nothing to tax because the company never paid. Wrong. If you control the company you're an associate of your own employer, and a benefit from an associate is still a fringe benefit. The company pays tax on a dinner it never paid for, can't deduct a cost it never incurred, and you can't really deduct it personally either. Nobody gets the deduction. Your loan account helps for your own meal, not the team's, because a contribution has to come from the employee who got the benefit. The fix: reimburse yourself. And on whether the tax office is hunting this: their published focus areas are nil returns, employee contributions and cars. Entertainment isn't on the small business list at all. On the radar, but not the blitz it gets described as. Already an Aevum Accounting client? The team will go through it with you at your next catch-up. Not a client yet? Visit aevumaccounting.com.au to book a session. Shoutout: A massive thank you to Mike for the fantastic 5-star review! Important Disclaimer: The information shared in this episode and description is for general informational purposes only and does not constitute specific tax or financial advice. Everyone's situation is unique, and tax laws are complex. For personalized advice tailored to your specific situation, we always recommend consulting with a qualified professional at Aevum Accounting.

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