GFM October 2025 Newsletter
1 October 2025
We’re here to make sure you have the tools and guidance you need to succeed.
Dear Valued Clients,
As we move into the final quarter of 2025, we want to keep you updated on the latest trends shaping the accounting and financial landscape. Whether you’re a small business owner, an investor, or a corporate executive, staying ahead of these developments can help you make smarter decisions as the calendar year wraps up.
A few snapshots:
- On Tuesday (30 September), the RBA held the cash rate steady at 3.6 per cent, aligning with market and economist expectations.
- The expansion of the Home Guarantee Scheme from 1 October, which will give first home buyers more opportunities to enter the market sooner. We expect the market to heat up this Spring and are already seeing signs of it as buyers benefit from increased borrowing capacity and more competitive interest rates.
- Tax changes are on the think tank at government – the wish list changes we are likely to hear about include: negative gearing on rental properties, the CGT discount, the taxation of trust and yet again, superannuation changes
Appointments for tax returns are ongoing – use our online booking system @gfmaccountants.au to do this.
Like always, should there be any issues arise, reach out to one of our team members for advice.
Regards
Darren, Brent and the Team at GFM
ATO SmartDocs: A Safer Way to Receive Your Tax Documents
Here at GFM Accountants we use the Australian Taxation Office (ATO) system called SmartDocs to ensure important documents are delivered to you safely and securely. With so many scams and phishing emails circulating, SmartDocs provides peace of mind by giving you a reliable and secure way to receive and store your tax information.
What is SmartDocs?
SmartDocs is a secure online platform where the ATO sends your documents—such as notices and letters—instead of attaching them directly to emails. This way, your personal information stays protected.
How it Works
- You’ll get an email notification letting you know a new document is ready.
- Click the secure link in the email, which will take you to the SmartDocs portal.
- Verify your identity by entering a one-time code sent to your mobile phone.
- Access your document safely, and download or save it if you need to.
Why is it Safer?
- No risky attachments: Instead of opening documents from your inbox, you use a secure link.
- Extra protection: A one-time code (sent to your phone) makes sure only you can see your documents.
- Secure storage (the “Vault”): Your documents are kept in one safe place, so you can log in anytime to find past ATO correspondence.
The Benefits for You
- Peace of mind knowing your sensitive details are protected.
- Easy access to all your ATO documents in one spot.
- Less risk of scams since you’re not receiving attachments that could be fake or harmful.
In Summary
SmartDocs is all about keeping your information safe while making it simple for you to access your ATO documents when you need them. If you’re unsure about how to use SmartDocs, or if you’re worried about whether an email is genuine, please contact our office—we’re here to help
Reserve Bank keeps interest rates on hold!
The Reserve Bank left the cash rate steady at 3.6 per cent in September, while expectations of a November rate cut have declined.
The RBA say Australia is in a “very difficult position with the property market” but the bank’s mandate remains inflation, not house prices.
The current rate of 3.6 per cent is the lowest rate it has been since April 2023.
Mortgage holders are being warned they may not get any further interest rate relief as the RBA makes the case for holding interest rates.
It’s unclear whether the RBA’s statement was simply a justification for why the Bank didn’t cut interest rates or if it’s a signal that it’s less inclined to cut interest rates in coming months.
ATO Closing down of superannuation clearing house for SME
Please note from 1st October 2025 only existing users will be able to use the clearing house, no new users will be able to sign up.
20th June 2026 will be the last day existing users can use the clearing house and it will completely shut down on 1st July 2026 therefore employers must use an alternative option.
Alternative options include payroll software clearing houses such as XERO and MYOB and some industry funds provide their own clearing house facilities for employers.
Accessing superannuation funds for medical treatment or financial hardship
Superannuation is one of the largest assets for many Australians and offers significant tax advantages, however, strict rules apply to when it can be accessed. While super is most commonly accessed at retirement, death or disability, there are limited situations where earlier access may be possible.
Early access is generally available in two situations:
- Financial hardship – where you are receiving a qualifying Centrelink/DVA payment for a minimum period and cannot meet immediate living expenses.
- Compassionate grounds – Funding for certain specific scenarios which include preventing a mortgage foreclosure or meeting medical expenses for a life-threatening injury or illness or to alleviate severe chronic pain.
ATO cautions against accessing your super early
The Australian Taxation Office (ATO) is warning against the risks of accessing superannuation (super) early to pay for non-critical medical procedures or lifestyle expenses.
ATO cautions those who are considering accessing their super to carefully consider their circumstances and the impacts it can have both short and long term.
Superannuation is saving for your retirement. Your employer pays 12% super on top of your salary or wages as a long-term investment which grows over time and generally cannot be accessed until you reach preservation age or retire.
Accessing super on compassionate grounds is only available in very limited circumstances where individuals are unable to pay for an eligible expense using any other means. It is not ‘free money’, and it will reduce the amount available in retirement and results in you paying more tax.
Individuals who apply need to ensure they are eligible and that they provide accurate information and documents in their application. Where applications are approved, individuals should remember that they have declared in their application that they will use the money to pay for the approved purpose and keep receipts to support this.
‘There can be significant consequences for people who attempt to inappropriately access their super, including severe penalties for making false or misleading statements or adjustments to their income tax return so they are required to pay additional tax.
Should you have any questions or concerns relating to proposed access to your superannuation please reach out to either Darren or Brent before doing so.
Legislation has recently been enacted which delivers on the 2025/26 Federal Budget announcement to reduce student debts. Pursuant to this legislation:
- there is a one-off 20% reduction to Higher Education Loan Program debts and other student loans that were incurred on or before 1 June 2025;
- the minimum repayment threshold is increased from $54,435 in the 2024/25 income year to $67,000 in the 2025/26 income year (to continue to increase each year with the growth in wages); and
- a marginal repayment system is introduced where compulsory student loan repayments are calculated only on income above the new $67,000 threshold (rather than having it based on a percentage of the repayment income).
For the month of September GFM have proudly taken part in the Remember September 75km walking challenge for Pankind to support groundbreaking pancreatic cancer research.
If you would like to support our fund raising campaign, our donations page will remain open until 31 October and can be accessed via the link below. Any donation will be gratefully appreciated.
https://www.rememberseptember.org.au/fundraisers/gfmaccountants .
Key Dates
- Lodge and Pay September 2025 Payroll Tax – 7th October 2025
- Lodge and Pay September 2025 Monthly BAS/IAS – 21st October 2025
- Lodge and Pay September 2025 Quarter Super Guarantee Contributions – 28th October 2025
- Lodge and Pay September 2025 Monthly BAS/IAS – 21st November 2025
- Lodge and Pay September 2025 Quarterly BAS – 25th November 2025
- Lodge and Pay September 2025 Super Guarantee Charge Statement – 28th November 2025
