Latest News
Div 296 must be considered ‘holistically’, IPA says
As heated debates over the proposed Division 296 tax continue to be drawn out, the IPA has called on the government to “reconsider problematic areas”.
.
The Institute of Public Accountants is pushing for key reconsiderations to certain “problem” areas in the proposed Division 296 on superannuation, as it believes the current proposal would not be fit for purpose.
Letty Chen, IPA tax and super advisor, said while IPA supported sensible reforms to make the superannuation concessions more equitable, it believed the current proposal would create inequitable outcomes and practical compliance challenges for affected taxpayers.
The inclusion of unrealised capital gains in the calculation of earnings, the lack of a refund mechanism for negative earnings, the absence of indexation for the $3 million threshold and the lack of optionality for funds to use established tax principles to calculate earnings on a member-by-member basis were the key areas the professional accounting body objected to.
Chen said that the proposed methodology represented a significant departure from accepted tax orthodoxy and principle.
“A fundamental tenet of Australian tax law is that income and gains should only be taxed once they’ve been earned or realised.”
“This measure would tax unrealised gains, which will create serious cashflow issues for taxpayers, especially for small business owners and farmers who hold illiquid assets like real property in their self-managed super funds.”
From the key areas proposed by IPA, it was pushed that these reconsiderations and appropriate amendments could be made by limiting the tax to realised earnings and capital gains, implementation of transitional rules that allowed affected taxpayers to restructure their affairs without penalty and index the $3 million threshold annually to account for inflation and ensure the system remained fair and equitable over time.
Forcing the sale of these assets to pay tax liabilities could be disruptive and may happen at a time of depressed market values, Chen said.
“There’s a strong possibility a member could be cumulatively taxed on investments that ultimately make an overall loss, with no real recourse to recover any tax previously paid.”
“For someone in their 20s or 30s today, $3 million when they near retirement might be equal to a fraction of that amount in today’s money due to inflation.”
This list of asks from IPA comes after The Australian Financial Review reported earlier in the month that anonymous sources had revealed the government had paused its plans to introduce the $3 million super tax in its current form.
Peter Burgess, SMSFA chief executive, told Accountants Daily’s sister brand, SMSF Adviser, that he believed the government could be concerned with the timing of the determinations – specifically when those impacted by the tax would need to report.
“The government is obviously very concerned about the taxation of unrealised capital gains, and the unintended consequences that flow from that. I think the other thing is that the government is trying to position the Labor Party as pro-aspirational, and if it is genuine about that then you can't get a better example of a tax on aspiration than this tax,” he said.
“It is completely at odds with what it’s trying to achieve in terms of encouraging innovation, productivity and aspiration so, there is little wonder there is growing opposition to this tax from within the Labor party ranks.”
However, if the tax was set to be introduced as is, Chen said amendments needed to be made to protect trust and integrity in Australia’s superannuation system.
“The threshold must be indexed. Superannuation is designed for long-term saving, and policy should reflect long-term impact and provide certainty.”
“Ultimately, reform of superannuation tax concessions must be considered holistically. Piecemeal measures such as the Division 296 tax introduce other inequities and greater complexity. Poorly considered changes will undermine confidence in superannuation.”
More super changes looming on the horizon
Still proposed to start on 1 July 2026, changes to payday super are fast approaching and are set to ensure that employee superannuation guarantees (SG) are remitted in line with payment of salary and wages.
Pitcher Partners outlined that despite the extensive timeline before the changes came into play, businesses needed to be prepared for them as the start date would arrive quickly.
The accounting firm said adequate preparation was essential, as the implementation and ongoing adherence to payday super would increase the administrative burden on employers as they transitioned to new processes, systems and/or tools.
“While the proposed introduction of payday super appears simple, the interdependencies of payroll systems, external clearing houses, superannuation funds and regulators means that a mere oversight could have a significant flow-on effect,” Pitcher Partners said.
With the changes, there would be exceptions for new employees, where an employer makes contributions to a stapled fund that is rejected, out-of-cycle payments and exceptional circumstances such as natural disasters.
The firm noted that an important catch within the proposed legislation change was that it would intend to apply SG obligations on payments to persons who met the ‘extended definition’ of employee, such as third-party contractors, which required specific rules.
Imogen Wilson
16 September 2025
accountantsdaily.com.au
Latest Articles
Div 296 must be considered ‘holistically’, IPA says
As heated debates over the proposed Division 296 tax continue to be drawn out, the IPA has called on the...
How to detect and prevent elder abuse when advising older clients: RSM
Elder abuse is an unfortunate reality that some accountants and advisors come across whilst working with older...
Why Culture Matters (Even in Small Teams)
Business culture is the shared set of values, beliefs, norms, and practices that dictate how employees within...
Bribery, brothels, breaches of confidence: ATO officer loses appeal against imprisonment
A former ATO client engagement officer has lost an appeal against a five-year prison sentence for accepting a...
The biggest earthquakes in history : (1905–2025)
Check out this powerful visual journey through the most powerful earthquakes ever recorded. From massive...
How safe is your business from scams
Updated 27 Aug 2025 . From fake invoices and scam calls to fraudulent social media ads and texts...
Non deductibility of ATO interest charges for businesses
Businesses can no longer claim income tax deductions for ATO general interest charge (GIC) and shortfall...
HECS/HELP debt reduction Bill introduced
The Labor government have recently introduced legislation aimed to enact its election promise to reduce...
WHS and OHS Regulatory Update: August 2025
Officers have an ongoing duty to ensure their organisations remain compliant and stay informed about work...
Inherited assets: what you need to know about pre-CGT v post-CGT investments
Inheriting assets, whether it’s a family home, shares, or an investment property, can offer significant...
Before expanding your team, ensure your business can support the new role financially and operationally. Focus...
‘Results in paying more tax’: ATO warns Australians against early super access
The Tax Office is warning Australians against accessing their superannuation early for expenses related to...
Accounting & Bookkeeping
Modern business demands up to date accurate financial information.
We can take care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.
We can also assist with meeting your reporting requirements including Business Activity Statements, PAYG Withholding and Instalment Activity Statements.
We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
If you would like further information you can contact us on (02) 9300 3000 or .
Acquisitions & Mergers
Whether you are considering buying or selling a business, we are able to assist you in this transaction by providing experienced advice.
Each transaction is different and needs to be assessed on its individual merits. There are a number of accounting and taxation opportunities with these transactions and our experience can ensure you are maximising your benefits.
If you would like further information you can contact us on (02) 9300 3000 or .
Budgeting
A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.
In addition to goal setting value, budgets will often improve your chances of acquiring funding. Financers often require budgets as a prerequisite for funding approval.
We have extensive experience with assisting clients in the budgeting process.
If you would like further information you can contact us on (02) 9300 3000 or .
Business Start-Ups
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.
If you would like further information you can contact us on (02) 9300 3000 or .
Charitable Institutions
Charitable institutions are set up to hold money or assets and carry out activities for the benefit of the community. In Australia, a variety of charitable institutions exist including:
- Various forms of charitable trusts
- Companies limited by guarantee
- Unincorporated associations
- Deductible gift recipients
- Prescribed private fund
Each type of charitable institution brings with it different requirements and benefits. We know the practicalities of these institutions and are able to assist you by:
- Co-ordinating the preparation of constituent documents
- Applying to the ATO for an Australian Business Number and Tax File Number
- Organising tax exemptions where applicable
- Attending to all compliance and statutory filings
If you would like further information you can contact us on (02) 9300 3000 or .
Company Secretary
Company legislation requires businesses to perform many administration tasks which take up a lot of valuable company time.
We are able to assist you in the following areas:
- General advice on company law
- Company formations
- Filing of annual returns on your behalf
- Preparation of all documentation related to minutes and resolutions
- Maintenance of statutory books
- Assistance in changes of directors, shareholders, addresses, and office details
- Bonus Issues
- Share transfers
- Registered Office Facility
If you would like further information you can contact us on (02) 9300 3000 or .
Financial Structures
Having the right financial structure in place for your business or your family means looking at your individual circumstances and ensuring that your assets are being maximised whilst being adequately protected.
We have extensive experience in ensuring our clients have the best financial structure for their needs both now and in the future. We can provide advice on and assist with:
- Effective structures for asset protection
- Effective structures for tax minimisation
- The optimal structure through which to operate your business
- Structures to assist in succession planning and providing for future generations
If you would like further information you can contact us on (02) 9300 3000 or .
GST
Every transaction has GST implications. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include:
- Assistance with registering for GST
- Filing and adjusting GST returns
- ATO audit assistance
- Advice on GST related issues
If you would like further information you can contact us on (02) 9300 3000 or .
Management Consulting
We are practiced in acting as a sounding board for management, bringing to the relationship years of experience in business growth and analysis.
We are able to check that your business is as competitive, focused, and profitable as it can be and we will work with you to address any issues.
If you would like further information you can contact us on (02) 9300 3000 or .
Payroll Services
We can provide a comprehensive and confidential payroll service including:
- Administration of PAYG Withholding, statutory sick pay, annual leave etc
- Australian Taxation Office filing
- Summaries and analyses of staff costs
- Administration of incentive schemes, bonuses and termination payments
- Assistance with payroll tax and workers compensation obligations
If you would like further information you can contact us on (02) 9300 3000 or .
Rental Properties
We can assist in a variety of areas in relation to residential and commercial property including:
- Advice on funding
- Cash flow analysis of property investment
- Guidance in tax related areas including negative gearing and capital gains tax
- Advice on ownership structure
- Preparation of initial land tax returns and land tax variation returns
If you would like further information you can contact us on (02) 9300 3000 or .
Clients of Wybenga & Partners Pty Limited can engage our partner firm, Washington Brown, for a competitive price on their depreciation services: Tax Depreciation Quote Request – Wybenga & Partners Pty Limited Clients
Strategic Planning & Advice
Our Strategic Planning Service is designed to assist our clients to develop financially towards the achievement of their lifetime objectives. Our experience and proven results provide our clients with the security that their financial goals will be met.
Wybenga Financial Pty Ltd is an organisation providing wealth creation and management services to private clients.
If you would like further information you can contact us on (02) 9300 3000 or .
Superannuation
Self-managed superannuation is a flexible means of saving for retirement. It allows you to take control of your superannuation, adopt a customized investment strategy and control fund administration costs.
Superannution law is a delicate area and personalised planning is required for each individual. We have extensive experience in all areas relating to superannuation and can assist in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.
Services we offer include:
- Establishment of Self Managed Superannuation Funds
- Advice concerning Compliance Matters
- Advice concerning Taxation Benefits
- Advice on Employer obligations
If you would like further information you can contact us on (02) 9300 3000 or .
Taxation
We offer a complete range of taxation services and advice based on proven knowledge and experience. Our proactive approach ensures we deliver a consistent service and build solid relationships.
We will work with you to help reduce your tax exposure and provide services including:
- Advice on all areas of direct and indirect taxation
- Preparation and lodgement of annual income tax returns for all types of entities
- Preparation of PAYG withholding variation applications
- Preparation of activity statements and advice on payment of tax
- Assistance with GST/FBT obligations including preparation and lodgement of relevant forms
- Advice on and implementation of tax effective trust structures for asset protection and tax minimisation
- Management of any ATO audits or disputes
If you would like further information you can contact us on (02) 9300 3000 or .
Trusts
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.
Wybenga & Partners are 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
If you would like further information you can contact us on (02) 9300 3000 or .
Chris Wybenga
B.Bus, CA
Chris is the Managing Director of the Firm who established the practice in August 1994 and has been responsible for its growth and development since that time.
Chris has over 40-years experience in the Chartered Accountancy profession, predominantly spent in small to medium sized firms, advising small and medium sized businesses and individuals in areas such as taxation and accounting as well as business restructuring and superannuation advice.
Chris remains active in the development of young accountants through mentoring cadets at the Firm.
- 1980 – Commenced employment and part time university studies
- 1985 – Graduated Bachelor of Business from University of Technology, Sydney
- 1986 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1994 – Established Wybenga & Partners
Dianne Bechara
B.Bus, CA
Dianne is responsible for the day-to-day operations and administration of the practice.
Dianne has over 30-years Chartered Accountancy experience and has significant expertise in providing advice and solutions to high-net-worth individuals and their associated entities. Dianne also has considerable knowledge in the areas of taxation, business services, superannuation, and compliance.
Dianne is active in promoting gender equality in the industry through various programs and mentoring opportunities. Dianne is also committed to the development of young accountants and donates considerable time to sharing her expertise.
- 1992 – Graduated Bachelor of Business from University of Technology, Sydney
- 1993 – Commenced employment in acounting profession
- 1996 – Commenced career with Wybenga & Partners
- 1997 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2002 – Appointed as Director of Wybenga & Partners
Roger Potter
B.Bus, CA
Roger has over 40-years in the Chartered Accountancy profession and significant expertise in providing advice and solutions to small and medium sized businesses and high-net-worth individuals. He also has extensive experience in the areas of Self-Managed Superannuation Funds and retirement strategies.
- 1985 – Commenced employment and part time university studies
- 1990 – Graduated Bachelor of Business from University of Technology, Sydney
- 1992 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1998 – Commenced career with Wybenga & Partners
- 2002 – Appointed as Director of Wybenga & Partners
Tess Uncle
B.Sc, M.Com, CA
Tess has been working in Chartered Accounting Firms since 2021 and in this time has had a broad range of experience in superannuation, taxation, business services and financial strategy.
Since 2016, Tess has turned her attention to Financial Planning, earning a Diploma of Financial Planning in 2015 and leading the financial division of Wybenga Group as a Director of Wybenga Financial.
Tess’s mission is to bring the ethics and integrity of her Chartered Accounting background to the area of wealth management.
As a woman in a male dominated field, Tess is active in promoting gender equality in the industry through various programs and mentoring opportunities.
Using her depth of knowledge and experience in tax and accounting Tess is able to demonstrate a level of competence that is unique in the Financial Planning sector.
- 2001 – Commenced employment with Wybenga & Partners and part-time accountancy studies
- 2004 – Graduated Masters of Commerce from the University of New South Wales
- 2005 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2007 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2015 – Awarded a Diploma in Financial Planning
- 2016 – Appointed as Director of Wybenga & Partners Pty Ltd, Wybenga Group Pty Limited and Wybenga Financial Pty Ltd
Schedule a Meeting with Tess
Adam Roberts
B.Bus, B.Sc, CA
Adam has over 18-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Adam has had significant experience in MYOB and assisting clients with periodic management reporting.
Adam is responsible for the implementation of technology in the Firm and sourcing new areas of innovation and efficiency.
Adam is active in the development of young accountants and donates considerable time to sharing his expertise.
- 2005 – Commenced employment with Wybenga & Partners and part-time Accountancy Studies
- 2005 – Graduated Bachelor of Science from the University of Western Sydney
- 2007 – Graduated Bachelor of Business from the University of Western Sydney
- 2010 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2010 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2016 – Appointed as Director of Wybenga & Partners
Schedule a Meeting with Adam
Hussein Oubani
B.Bus, CA
Hussein brings over 20 years of experience working in Chartered Accounting Firms, during which he has gained extensive expertise in taxation and business services. He provides advice on various tax issues, including capital gains tax, fringe benefits tax, goods and services tax, and Australia’s tax treaties.
Hussein is dedicated to fostering the growth of young accountants and generously devotes a significant amount of time to sharing his knowledge and expertise.
- 2008 – Commenced employment with Wybenga & Partners and part-time
Accountancy Studies - 2010 – Graduated Bachelor of Business from the University of Western Sydney
- 2012 – Admitted as an Associate Member of the Institute of Chartered Accountants
Australia & New Zealand - 2024 – Appointed as Director of Wybenga & Partners