If you’re among the more than three million Australians with a student loan, there’s welcome news
.
The government’s legislation to reduce student loan debt by 20% is now being applied on debt balance as at 1 June 2025, before indexation was applied, with the 2025 indexation recalculated on the reduced debt amount.
Most people were due to receive their reduction before the end of 2025, and more complex reductions are being processed by the ATO in early 2026. The ATO will notify you via SMS, email or your myGov inbox when your reduction has been applied.
If your loan account’s in credit after the reduction is applied, you may receive a refund – although, if you have outstanding tax or other Commonwealth debts, the ATO will apply your credit to these debts first.
An additional change is that compulsory repayments have also moved to a marginal repayment system. Repayments are calculated on the part of your income above starting limit of $67,000 (instead of your total repayment income).
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Tax and BAS returns
Taxation
The implementation of effective tax strategies is an integral part of the financial planning process. Structuring the way in which you receive your salary, superannuation contributions, investments, risk and debt management can significantly minimise your tax implications and are an essential component of your wealth creation and retirement strategy.
At Clear Picture, we want you to accomplish your financial objectives in the most tax-efficient manner as other aspects of your financial plan become easier to implement when your tax liability is minimised.
Our strategies are tested, proven and successful. We offer a broad range of taxation advisory services including:
Income Tax
Capital Gains Tax (CGT)
Superannuation & Transition To Retirement
Salary Packaging and Fringe Benefits Tax (FBT)
Land Tax and Stamp Duty
There are numerous tax effective financial planning strategies that may be appropriate for your circumstances and enhance your tax, retirement and wealth objectives. Contact our team to discuss the possibilities.
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BAS
Lodging your BAS correctly and on time can be a difficult and confusing process. You can avoid risk and stress simply by being confident that your ATO tax liabilities and obligations are sorted and your BAS lodgement is correct every time.
It’s not surprising that peace of mind for many business owners comes with appointing an experienced agent to look after their BAS services for them.
Our friendly, service orientated team offer a range of BAS services and lodgement options to suit all small business owners so you have more time to do what you do best – running your business and earning money.
Services include:
Preparation of Business Activity Statements from business data
Electronic Lodgement of Business Activity Statements
Personalised advice on BAS provisions (including GST, PAYG, Withholdings and Instalments, Fringe Benefits Tax, Fuel Tax Credits and more)
Preparation of Instalment Activity Statements and Employee Payment Summaries
Management of financial data files and preparation of reports for business tax returns
Handle payroll and superannuation obligations including Reportable Employer Super Contributions
Straight forward and stress-free accounting services are what businesses of all sizes need form their accountants and we believe we provide exactly that. By providing cutting edge accounting and taxation services, and using the right products for your record keeping, our team at XX will work closely with you to ensur we understand your needs. Only in this way can we help you achieve your goals, help you manage your cash flow and help you meet your tax obligations.
While fiscal compliance is of the upmost importance, we also believe in offering professional management advice and support at all times. We are committed to offering the highest level of friendly and professional service and welcome the opportunity to work with you.
The areas we specialise in are as follows:
Accounting & Tax Consultancy Services
Straight forward and stress-free accounting services are what businesses of all sizes need form their accountants and we believe we provide exactly that. By providing cutting edge accounting and taxation services, and using the right products for your record keeping, our team at XX will work closely with you to ensur we understand your needs. Only in this way can we help you achieve your goals, help you manage your cash flow and help you meet your tax obligations.
While fiscal compliance is of the upmost importance, we also believe in offering professional management advice and support at all times. We are committed to offering the highest level of friendly and professional service and welcome the opportunity to work with you.
The areas we specialise in are as follows:
Accounting & Tax Consultancy Services
Personal & Business Tax Returns
Annual Reporting
Business and Tax Advisory
Business ‘start up’ advice
Prepare Business plans and financial budgets and review these regularly
Measure your performance against industry benchmarks
Trust & company structures
ATO correspondence Management
Taxation – GST & PAYE advice, BAS preparation
Liaise with the ATO on your behalf
Self-Managed Super auditing
Accounting software advice and assistance
Personal & Business Tax Returns
Annual Reporting
Business and Tax Advisory
Business ‘start up’ advice
Prepare Business plans and financial budgets and review these regularly
Measure your performance against industry benchmarks
Trust & company structures
ATO correspondence Management
Taxation – GST & PAYE advice, BAS preparation
Liaise with the ATO on your behalf
Self-Managed Super auditing
Accounting software advice and assistance
Bookkeeping and Payroll
Bookkeeping
Clear Picture can take over all, or some of your bookkeeping activities allowing you to concentrate on growing your business.
We can:
Design, establish and review accounting systems and software
Perform checks, reconciliations and end of financial year reports
Manage your accounts receivable and accounts payable
Ensure your business is up to speed with legislative requirements and management reports
Undertake payroll duties and compliance
Prepare and lodge BAS statements
GST & PAYE advice
BAS Lodgement
GST Reconciliation
PAYG Withholding & Superannuation reports
Completing expense reports
Direct to bank account transactions
Organising your documents and records
Data / ledger entry
Paying bills
Completing expense reports
Direct to bank account transactions
Provide general business administrative support
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Payroll
We can assist you with all facets of payroll and reportable contractor payments. Our professional team are fully versed in all legislative requirements and the processes required in managing this crucial part of your business.
The primary objective of payroll processing is to ensure that employees receive all the financial entitlements they are owed in a timely manner.
Poor payroll processing can be very detrimental to a business as it can significantly impact net income and lead to disgruntled staff. With an abundance of legislation, payment methods and withholdings, payroll management can be a difficult and time-consuming process.
Payroll processing services include:
General Payroll – ensure your staff are paid the correct rates and paid according to the correct hours worked.
Payslips – Our team can prepare your staffs payslips on your behalf and email them directly to you or your staff along with
PAYG Withholdings – Any business that has employees or pays employees of another business must withhold an amount from payments made to them. Any payments made to a business that doesn’t quote an ABN on an invoice or other documentation must also have an amount withheld from payments.
Taxable payments reporting – Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. These payments need to be reported to the Australian Taxation Office (ATO) on the Taxable Payments Annual Report, or electronically.
Entitlements – calculation of leave including holiday, personal, long service and rostered days off.
Payroll Tax, Workers Compensation Insurance, Employment Forms – some or all of these may be needed for your business.
Efficient and Electronic systems – these should simplify all processing and provide greater security for you and your staff.
Superannuation should be calculated and paid – this is a compulsory whereby employers are required to pay a percentage on top of “ordinary time’s earnings” to a nominated superannuation fund. These contributions need to be made at least once every three months and penalties for late payment are very severe.
End of Payroll Year Processing – Reconciling, Generation and Lodgement of employment group certificate’s and payment summaries, taxable payment summaries, reportable fringe benefits and lump sum amounts
Business start ups
There are four main business structures commonly used by businesses in Australia and we can help with them all:
Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.
Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.
Company: a legal entity that is separate from its shareholders.
Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, requires the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.
It is important to note that you can change your business structure throughout the life of your business.
Before commencing a new business, the following are some of the key items that need to be considered:
Decide on the most suitable structure for your business – sole trader, partnership, trust or company
Prepare a business plan, cashflow projections, budgets, and trading forecasts
Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
Establish a good working relationship with your bank
Register for a Tax File Number and an Australian Business Number with the ATO
Complete registration procedures with Australian Securities and Investments Commission
Deal with company secretarial issues
Set up a recording system for your internal use and for complying with statutory requirements
Each new business is different and needs to be considered in relation to your individual circumstances and our experience can ensure you are maximising your opportunities.
Consulting
Tax & Accounting Consultancy Services
Management Accounting includes the preparation of management reports and accounts that provide accurate and timely financial and statistical information. Information required by managers to make day-to-day and short-term decisions more efficiently and effectively to achieve desired outcomes such as increasing profit or delivering improved services.
Unlike financial accounting, which produces tax returns and annual reports, management accounting generates monthly or weekly reports for an organization's management and decision makers. These reports typically show items such as available cash, sales revenue, orders in hand, accounts payable and accounts receivable, and outstanding debts. An important aspect of Management accounting is determining what information management needs and communicating this effectively.
Clear Picture can assist with all aspects of management reporting including:
Strategic advice to managers about the financial implications of projects
KPI reporting
Explaining the financial consequences of business decisions
Formulating business budgets and business plans and strategies
Monitoring spending, financial control and Cashflow projection
Conducting internal business audits
Monthly/quarterly management reports
Product costing reviews.
Tax advice, tax planning and structuring advice
Tax Planning
Tax time is coming up. Are you prepared?
When the time comes to deal with your own taxation and accounts, it can be stressful and hassling. Though through good preparation and planning, you can make tax time work for you and potentially reduce the impact of tax, while keeping up to date.
Clear Picture are specialists at accounting and taxation. Based in XXX, we aim to provide our clients with comprehensive tax planning advice and strategies, all at competitive prices.
We provide assistance for:
Individuals
Families
Artists
Trusts
Businesses and
Organisations (non-profit and commercial)
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Tax Planning
Tax time is coming up. Are you prepared?
When the time comes to deal with your own taxation and accounts, it can be stressful and hassling. Though through good preparation and planning, you can make tax time work for you and potentially reduce the impact of tax, while keeping up to date.
Clear Picture are specialists at accounting and taxation. Based in XXX, we aim to provide our clients with comprehensive tax planning advice and strategies, all at competitive prices.
We provide assistance for:
Individuals
Families
Artists
Trusts
Businesses and
Organisations (non-profit and commercial)
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Structure
A client needs to put in place the right strategies and structures, to create wealth and then review these strategies and structures on a regular basis. That is because your circumstances and goals will change and so will the economy and the legislation relating to how your affairs are structured.
There are many paths that may be more appropriate than others such as:
Selecting the best tax structure;
Using gearing;
Reducing debt;
Using Shares, managed funds or other types of assets. Indeed it may be a combination of many to properly meet your needs.
Rental properties
Like any form of business, property ownership can be less than hoped for. However, rental income, gearing, purchase, borrowings, management, appropriate structures, and advice are how XX help clients who rent commercial and residential properties.
Our aim is to ensure such investments generate the appropriate returns.
We assist in a variety of ways:
Advice on funding
Advice with purchasing
Cash flow analysis of property investment
Guidance in tax related areas including negative gearing and capital gains tax
Advice on ownership structures
Preparation of initial land tax returns and land tax variation returns
Trusts
Trust Advice
A trust provides a valuable way of protecting the assets you have accumulated for the benefit of yourself and others. A trust can also be an effective structure for running your business.
We have extensive experience with trusts and are able to offer specialist advice on establishment and compliance, ensuring that all statutory requirements are met.
Clear Picture are also able to organise for the preparation and execution of documentation involved in Trust formation.
Our Trust administration service includes:
Minute keeping service
Annual accounts
Taxation
Maintenance of CGT register
Income distribution
We know the issues and requirements involved with managing Trusts and can help ensure these tasks are undertaken properly.
NZ Clients and temporary residency
NZ Clients and temporary residency
Clear Picture help New Zealand individuals and businesses — including temporary residents and recent arrivals — manage tax, compliance and financial planning so you can focus on settling in and growing your activities.
Services for NZ clients & temporary residents
Tax residency assessment and advice (determine NZ tax residency and obligations)
Income tax planning for residents and part-year taxfilers
PAYE, GST and IRD registration and compliance
Withholding taxes, foreign income disclosure and double tax relief guidance
Property tax, rental income and bright-line rule support
KiwiSaver advice, provisional tax and payroll setup for employers
Cross-border structuring and tax-efficient repatriation of funds
End-of-year tax returns, tax credits, and liaison with Inland Revenue
Get in touch for a tailored consultation to clarify your NZ tax position and compliance obligations.
Tax Diary
General Calculators
Accounting Videos
Useful Links
Secure File Transfer
Secure File Transfer is a facility that allows the safe and secure exchange of confidential files or documents between you and us.
Email is very convenient in our business world, there is no doubting that. However email messages and attachments can be intercepted by third parties, putting your privacy and identity at risk if used to send confidential files or documents. Secure File Transfer eliminates this risk.
Login to Secure File Transfer, or contact us if you require a username and password.
General Disclaimer
All care is taken in the preparation of the information and published on this website. Clear Picture Tax & Accounting does not make any representations or give any warranties about its accuracy, reliability, completeness or suitability for any particular purpose.
To the extent permissible by law, Clear Picture Tax & Accounting will not be liable for any expenses, losses, damages (including indirect or consequential damages) or costs which might be incurred as a result of the information being inaccurate or incomplete in any way and for any reason.
If you have any concerns regarding the content of the website, please contact us.
Privacy Policy
Clear Picture Tax & Accounting is committed to providing quality services to you and this policy outlines our ongoing obligations to you in respect of how we manage your Personal Information.
We have adopted the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth) (the Privacy Act). The NPPs govern the way in which we collect, use, disclose, store, secure and dispose of your Personal Information.
A copy of the Australian Privacy Principles may be obtained from the website of The Office of the Australian Information Commissioner at https://www.oaic.gov.au/.
What is Personal Information and why do we collect it?
Personal Information is information or an opinion that identifies an individual. Examples of Personal Information we collect includes names, addresses, email addresses, phone and facsimile numbers.
This Personal Information is obtained in many ways including correspondence, by telephone and facsimile, by email, via our website, from your website, from media and publications, from other publicly available sources, from cookies and from third parties. We don't guarantee website links or policy of authorised third parties.
We collect your Personal Information for the primary purpose of providing our services to you, providing information to our clients and marketing. We may also use your Personal Information for secondary purposes closely related to the primary purpose, in circumstances where you would reasonably expect such use or disclosure. You may unsubscribe from our mailing/marketing lists at any time by contacting us in writing.
When we collect Personal Information we will, where appropriate and where possible, explain to you why we are collecting the information and how we plan to use it.
Sensitive Information
Sensitive information is defined in the Privacy Act to include information or opinion about such things as an individual's racial or ethnic origin, political opinions, membership of a political association, religious or philosophical beliefs, membership of a trade union or other professional body, criminal record or health information.
Sensitive information will be used by us only:
For the primary purpose for which it was obtained
For a secondary purpose that is directly related to the primary purpose
With your consent; or where required or authorised by law.
Third Parties
Where reasonable and practicable to do so, we will collect your Personal Information only from you. However, in some circumstances we may be provided with information by third parties. In such a case we will take reasonable steps to ensure that you are made aware of the information provided to us by the third party.
Disclosure of Personal Information
Your Personal Information may be disclosed in a number of circumstances including the following:
Third parties where you consent to the use or disclosure; and
Where required or authorised by law.
Security of Personal Information
Your Personal Information is stored in a manner that reasonably protects it from misuse and loss and from unauthorized access, modification or disclosure.
When your Personal Information is no longer needed for the purpose for which it was obtained, we will take reasonable steps to destroy or permanently de-identify your Personal Information. However, most of the Personal Information is or will be stored in client files which will be kept by us for a minimum of 7 years.
Access to your Personal Information
You may access the Personal Information we hold about you and to update and/or correct it, subject to certain exceptions. If you wish to access your Personal Information, please contact us in writing.
Clear Picture Tax & Accounting will not charge any fee for your access request, but may charge an administrative fee for providing a copy of your Personal Information.
In order to protect your Personal Information we may require identification from you before releasing the requested information.
Maintaining the Quality of your Personal Information
It is an important to us that your Personal Information is up to date. We will take reasonable steps to make sure that your Personal Information is accurate, complete and up-to-date. If you find that the information we have is not up to date or is inaccurate, please advise us as soon as practicable so we can update our records and ensure we can continue to provide quality services to you.
Policy Updates
This Policy may change from time to time and is available on our website.
Privacy Policy Complaints and Enquiries
If you have any queries or complaints about our Privacy Policy please contact us at:
