August 2026 E News
Welcome to our third edition as Elevare Accountants, Chartered Accountants | Business Advisors.
Markets gave us a welcome shift in tone throughout August, balancing the stabilisation of global energy shocks with strong corporate reporting across key sectors on both sides of the Pacific. On the local front, Tax Time 2026 continues to progress smoothly, with businesses leveraging the ATO’s expanded pre-fill system for TPAR income to streamline reporting and ensure compliance as we head into spring.
In this issue, we break down essential regulatory updates to keep your business compliant and secure. We explore key operational shifts under Payday Super for independent contractors, major digital and registry upgrades from ASIC including new email lodgement options, updated CPI fees, and upcoming director ID requirements and practical steps to protect your operations against emerging small business scams. You will also find details on upcoming ATO masterclasses and your key September compliance deadlines.
Finally, we wish a very Happy Father’s Day to all the dads and father figures. We hope you enjoy a relaxing and well-deserved break this weekend.
The Elevare Accountants Team
Overview
August brought a welcome shift in tone across global financial markets.
Following July’s heavy volatility, which was largely driven by energy shocks and supply disruptions in the Strait of Hormuz, commodity markets stabilised, allowing equity markets to regain upward momentum. While central bank monetary policy and inflation remain central points of focus, corporate earnings season provided strong fundamental support on both sides of the Pacific.
Australian Sharemarket
The S&P/ASX 200 delivered steady performance in August, driven by local corporate earnings reporting:
Healthcare and IT: A sharp rebound in healthcare leaders (such as Ansell surging following strong earnings, along with CSL) and technology stocks (WiseTech Global and DroneShield) provided the primary growth engine for the index, recovering strongly from a sluggish July performance. Ansell led healthcare gains with a near 10% single day surge after exceeding profit expectations, while WiseTech and DroneShield saw strong buyer demand ahead of their full year results.
Banking Valuation Consolidation: Large cap banks faced ongoing selling early in the month, falling over 10% from previous peaks, before finding support late in August. Mixed interest rate expectations and narrowing net interest margins continue to weigh on banking valuations. Commonwealth Bank of Australia traded lower despite reporting a $10.9 billion profit, as investors weighed high market valuations against future margin headwinds.
Materials and Commodities: Mining and energy shares reached fresh peaks before experiencing brief profit taking. However, uranium producers (such as Deep Yellow and Paladin Energy) rallied strongly as spot uranium pushed toward $89.50/lb following production delays and supply constraints from top global producer Kazatomprom.
Earnings Headlines: Standout earnings announcements included Electro Optic Systems Holdings, which spiked 23.8% following a 283% revenue jump and a return to EBITDA profitability, while Nanosonics slid 16.2% after missing full year revenue guidance.
US Sharemarket
US equities maintained positive momentum through August, supported by solid earnings results across major sector leaders:
AI Infrastructure and Hyperscaler Capital Expenditure: Second quarter reporting confirmed that major tech hyperscalers, Alphabet, Amazon, Meta, and Microsoft remain locked in an aggressive infrastructure expansion. Annual capital expenditure estimates for the group continue to climb toward $750 billion, driven by expanding data centre development, specialised chip procurement, and power grid allocation. While markets rewarded companies demonstrating clear monetisation and cloud revenue acceleration, investors are increasingly scrutinising free cash flow yields and longer term return profiles as borrowing requirements grow.
Index Concentration and Portfolio Risk Management: US market performance remains heavily weighted toward mega-cap technology companies, with the top ten holdings accounting for roughly 40% of the S&P 500. While solid corporate earnings continue to back current market levels, these high concentration levels mean index movements remain closely tied to the performance of a small number of tech leaders.
Interest Rates & Central Banks
Australia (RBA): At its 11 August meeting, the Reserve Bank of Australia kept the cash rate target unchanged at 4.35%. While policy remains restrictive, encouraging inflation data gave the Board room to hold steady while assessing broader economic conditions.
United States (Federal Reserve): Following July's hold at 3.6%, the narrative was reinforced late in August at the Jackson Hole symposium, where Fed Chair Kevin Warsh emphasised that the central bank is prepared to take further restrictive action if price pressures persist underscoring the central bank's focus on its 2% inflation target. Bond markets subsequently adjusted expectations, pricing in potential policy moves at the September meeting.
Oil & Geopolitics
The acute energy price spike that pushed Brent crude toward $100/bbl in July moderated significantly during August. Easing immediate supply disruption fears in the Middle East helped oil trade within a more stable range, relieving immediate upward pressure on government bond yields.
Here are the markets performance for end of August:
New ASIC fees now in effect — check what’s impacted
From Wednesday 1 July 2026, some ASIC fees have changed following the Consumer Price Index (CPI) increase announced for the March 2026 quarter.
This may impact the fees customers are quoted or required to pay for transactions.
To support customer enquiries, view the updated fees in Fees for commonly lodged documents.
For more information about fee indexation, visit the ASIC website (link provided below).
RegistryConnect: refreshed company search is live!
The new ASIC companies register search service (Public Beta) is now live, operating alongside ASIC Connect while further enhancements are made.
Users can search for companies, view summary information (including lodged documents), and check company name availability through a simpler, more intuitive interface.
Key improvements include smarter search and sorting filters, a clearer company profile view (with details like registration status, ACN/ABN and review date), and easier navigation.
Purchases of search products will continue via ASIC Connect.
New Application Programming Interfaces (APIs) have also been released to Information Brokers, with access for Digital Service Providers planned later this year.
Future releases
From December 2026, the public beta will support purchasing search products, including company extracts and document copies.
Additional APIs, enhanced authentication, and a new developer portal will follow later.
In 2027, further enhancements include new streamlined digital interactions for company registrations and maintenance, a new person search, improved professional registers search, and integration of director identification numbers.
ASIC will continue to share updates as these changes progress.
Digital Service Providers: Updated terms and conditions – What you need to know
On Monday, 26 May 2026, ASIC updated their Digital Services Access Terms and Conditions (the Terms) for ASIC Digital Service Providers (DSPs). The updated Terms took effect from 25 June 2026 and are available on ASIC’s website.
The updates strengthen governance and risk controls to protect the integrity of register data and the use of ASIC’s Digital Services.
Implementation and Transition
DSPs must implement any necessary changes to comply with the updated terms and conditions by 25 June 2026.
Where additional time is required or for any questions in relation to the updates, DSPs may contact Webservices@asic.gov.au.
Important changes to director ID obligations
From Wednesday, 1 July 2027, new laws will require companies to provide director IDs to ASIC.
How it will work
Companies will need to provide director IDs to ASIC through company reporting processes, including the annual review or when notifying changes to directors’ details.
Over time, the companies register will display whether a company has provided director IDs for its directors.
The changes will:
reduce the risk of fraud and identity misuse
improve the accuracy of company records
make it easier to identify company directors
improve the quality and usability of registry information.
Further information and guidance will be provided before 1 July 2027.
What do I need to do now?
Check your company and director details are up to date. New laws from 1 July 2027 will change how director information is recorded.
Keeping your details up to date now will help avoid delays or issues later. Take a few minutes now to make sure your details are correct:
check your company details are up-to-date
confirm all current directors are listed
update any incorrect names, addresses or contact details.
Find out more
This update and the ASIC website reflect the latest ASIC information and guidance. ASIC will continue to provide information and guidance ahead of 1 July 2027.
Lodge paper forms faster — email now available for most ASIC paper lodgements
ASIC have taken another important step in making it easier for you to interact with them, with email lodgement now enabled in 97% of annual paper lodgements (by volume) following the final release in June.
A further 42 forms (including sub-forms) can now be lodged by email, reducing the need for printing, posting and manual handling.
The newly enabled forms support a range of common transactions, including:
company reinstatements (Form 581)
corrections not available online (Form 492)
appointment of a contact address (Form 486)
foreign company accounts (Form 406)
court orders (Form 105)
notice of resolution that cannot be lodged online (Form 205 sub-forms).
ASIC's website has a complete list of forms that can be lodged by email.
A simpler way to lodge
Email lodgement provides a quicker and more convenient alternative to paper-based submissions. It helps reduce reliance on printing and postage, offering faster turnaround times through less manual handling.
For customers who prefer to continue using paper forms, postal lodgement remains available.
Continuing to improve the customer experience
This release marks another practical step in ASIC's simplification agenda, reducing administrative burden while helping to modernise how your interactions with them are managed.
ASIC will continue to enhance their digital services and share updates as new improvements are introduced.
More information
Received a request for information? Here's how to fix lodgement errors faster
ASIC now support lodging some forms by email. This lets you submit forms sooner and receive updates faster.
What happens after you lodge a form?
When you lodge a form by email or by post, ASIC will review it.
If the form is complete, it will be processed as normal.
If information is missing or needs updating, they will send you a request (called a requisition) asking you to correct or provide additional details.
How will you receive a requisition?
If you provided a valid and clear email address on your form, ASIC will use that email to contact you.
Requisitions will be sent from: document.returns@asic.gov.au
This email will include:
Your original form
Clear instructions on what needs to be updated
You can then update the form and reply to the email with the corrected version.
How to check the email is genuine
To make sure the email is legitimate:
Check it is sent from document.returns@asic.gov.au
Be cautious of emails from other addresses asking for form updates
If a message about your lodgement comes from a different email address, it may not be part of the official requisition process. If you are unsure, contact ASIC to confirm before responding.
Why this matters
Using the correct email address helps ensure:
Faster processing
Secure communication
Your form is completed without delay
Source and credit: ATO.gov.au
If you had to pay super for independent contractors before, you’ll continue to do so under Payday Super.
Payday Super changes when super must be paid, not who is eligible to receive it. This includes independent contractors.
If your business engages independent contractors, now is a good time to check your arrangements.
You’ll generally need to pay super where you’re paying an independent contractor, mainly for their labour, personal effort, skills or time. This can apply even if they:
have an ABN
invoice you for their work
are described as a contractor in a written agreement.
Where an independent contractor is entitled to super, the contribution must:
be paid for each payday
reach their super fund within 7 business days after payday.
It’s not mandatory to report payments made to independent contractors through Single Touch Payroll (STP). However, if you choose to voluntarily report these in STP, you'll need to meet the STP reporting requirements, including reporting qualifying earnings and super liability.
Find more information and examples to help you understand your super obligations at Super for independent contractors.
Source and credit: ATO.gov.au
Scammers are constantly changing their tactics and are increasingly targeting small businesses through emails, text messages, phone calls, social media and fake websites. Taking a moment to stop and check before you act can help protect your business, money and information.
Common scam signs
Here's a list of common signs of a scam to help you protect your business:
Spelling mistakes or unusual language - The easiest way to spot a scam is to look for spelling mistakes, poor grammar or wording that sounds unusual. Some scammers now use artificial intelligence (AI) to create professional sounding messages, so don't rely on this sign alone.
Receiving a message from someone you do not know - Scammers will often impersonate trusted businesses or organisations to gain your confidence. If you get a message, call or email from a business or organisation that you are not a customer of, or weren't expecting, it could be a scam. Scammers often claim to be from a government agency, bank, supplier or delivery service.
Asking for your login details, passwords or verification codes - Scammers may ask for your login details or send you a fake login webpage to steal your personal information. It's best to get in contact with the business to confirm. Most businesses will not out of the blue ask for your:
passwords
login details
multi-factor authentication (MFA) codes
or verification codes.
Suspicious links, attachments or QR codes - Don't click links, open attachments or scan QR codes unless you're confident they're safe. These can lead to fake websites, contain viruses, or steal your personal and financial information.
Pressure to act immediately - Scammers often create a sense of urgency to make you feel pressured to act fast. Be careful, take time to read and research before actioning as this may be a scam. They may use phrases such as:
'limited time offer'
'act now'
'immediate payment required
or 'your account will be suspended'.
Generic greetings and vague terms - If the message starts with phrases such as 'Dear customer', avoids using your name or seems unrelated to you, it might be a scam. Particularly if the content is unrelated to your business activities.
Asking for payment in unusual ways - If another business is asking for you to pay in a specific way, such as a gift card, it's a scam. Also be cautious if someone asks you to transfer money to a new bank account or change payment details at short notice. Always verify payment requests directly with the business using contact details you already know and trust.
Trust your instincts. If a message, phone call or invoice seems unusual, stop and verify it before taking action. Scammers rely on people acting quickly without checking the facts.
Think you've been scammed?
If you think you're a victim of a scam, it is important you know how to report and recover.
You should:
Contact your bank immediately if money has been transferred.
Change affected passwords and secure your accounts.
Report cybercrime through ReportCyber.
Report scams to Scamwatch.
Contact IDCARE if your personal information may have been compromised.
Source and credit: Businesss.gov.au
Supporting Small Businesses: ATO Masterclasses
Date: Tuesday 8 September 2026 12:00 - 1:00 pm
AESTLocation: Online
Cost: Free
Event organiser: ATO
Build confidence in managing your small business obligations with the ATO's interactive masterclasses. Designed to complement their free online courses, these sessions give you direct access to experienced ATO staff who can help clarify your responsibilities, walk through real-world scenarios, and provide practical guidance.
Masterclasses cover topics such as:
starting a small business
cash flow for business success
goods and services tax (GST)
eInvoicing
super guarantee employer obligations
claiming home-based business tax deductions
claiming small business tax deductions
tax-time essentials – how to successfully report, pay and lodge correctly
They're a practical way to strengthen your understanding of day-to-day business operations, helping you build good habits early and avoid common pitfalls that can affect your small business.
Click the link below to register your interest.
Source and credit: Business.gov.au
21 September
Activity statements
August monthly activity statements – final date for lodgment and payment.
30 September
Single Touch Payroll (STP) closely-held payees
End-of-year finalisation declaration through STP for closely held payees due for employers who have both closely held payees and arm's length employees.
Annual TFN withholding report
Annual TFN withholding report for closely-held trusts where a trustee has been required to withhold amounts from payments to beneficiaries during the previous financial year – final date for lodgment.
Global and domestic minimum tax
The Combined global and domestic minimum tax return and the GloBE Information Return are due 30 September 2026 for fiscal years ending on 31 March 2025.
Source and credit: ATO.gov.au
Support Local - Community Events
Support our beautiful community by checking out what’s on across the Byron Shire. The Council’s events page is packed with local activities and there is something for everyone.
More E-News and Important Updates
Elevare Accountants emails informative updates so you never miss out on important financial news and events. Explore our past newsletters in the Newsroom.
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