May E News 2026

As we move closer to the end of the financial year, June brings a timely opportunity to reflect, plan ahead and stay informed on the latest business, taxation and community updates.

In this edition, we share important EOFY lodgment dates and reporting reminders, along with recent Australian Taxation Office updates including the new Verify Call security feature designed to help protect Australians from scam activity. We also cover the ATO Fuel Response Payment Plan initiative available to eligible businesses experiencing financial pressure due to rising fuel and operating costs.

Tony Marshall provides his latest market update, offering insights into recent movements across Australian and global markets, key economic developments and the factors influencing investor confidence as we head into the second half of the year.

This month also marks an exciting milestone for our business as we prepare for the official transition from WD Nicholls Chartered Accountants to Elevare Accountants on 1 July 2026. While our name and visual identity are evolving, our commitment to supporting our clients, businesses and community remains unchanged. The same trusted team will continue to provide the advice, service and relationships you have come to rely on as we move forward under a new name and renewed vision for the future.

The Northern Rivers continues to host a variety of community events, markets and local initiatives throughout June. We encourage you to explore what's happening across the region and support the businesses, organisations and volunteers that help make our community such a vibrant place to live and work.

Finally, a reminder to take note of the important EOFY dates and obligations outlined in this edition to help ensure a smooth and successful end to the financial year.

The WD Nicholls Team

A New Name. The Same Commitment.

Introducing Elevare Accountants

On 1 July 2026, WD Nicholls Chartered Accountants will officially become Elevare Accountants. 

While our name and visual identity are evolving, our commitment to supporting our clients, our community and future generations remains unchanged. The same trusted team you know today will continue to stand beside you — now with a renewed vision for the future under the Elevare name.

The rebrand to Elevare represents more than a new look — it reflects who we are becoming as a modern advisory firm focused on elevating the financial foundations of life. It captures our ongoing commitment to delivering clarity, confidence and strategic guidance through every stage of our clients’ journeys.

The name Elevare draws inspiration from growth, support and forward momentum. Our new identity has been thoughtfully designed to reflect the layered complexity of the people and communities we serve — recognising that every financial story is shaped by unique experiences, cultures and aspirations.

At the heart of the new brand is the Elevare tick — a symbol inspired by precision, trust and the quiet strength of our local landscape, including the iconic Mt Chincogan. More than a mark of completion, it represents support, confidence and the belief that people and businesses can flourish when built on strong financial foundations.

As we move into this exciting new chapter, our values remain the same: integrity, relationships, professionalism and genuine care for our clients and community.

We are proud of where we’ve come from and excited about where we’re going.

Same trusted team. Elevated for the future.

Thank you for continuing to grow with us as we step into this exciting new chapter.

Overview

May has been a month of cautious recovery for global markets, with investors balancing easing geopolitical tensions against still-sticky inflation and shifting central bank expectations. The Iran conflict, oil price volatility, and inflation data have remained the dominant themes shaping equity and bond market behaviour.

Australian Sharemarket

Resource companies have benefited from stable commodity prices, while the banking sector has maintained stable interest margins and cautious lending standards.  The market has traded within a defined range for much of 2026, reflecting balanced domestic conditions against global uncertainty. Investors will be watching upcoming economic data closely, particularly any further softening in employment that could shift RBA expectations.

US Sharemarket

US equities have continued their strong run into late May. The S&P 500 returned approximately 4.25% in May 2026,  building on an exceptional April. The index closed at 7,473.47 on 22 May 2026.  Corporate earnings have been a key tailwind. For Q1 2026, 89% of S&P 500 companies have reported actual results, with 84% beating EPS estimates — above the five-year average of 78%.  The forward 12-month P/E ratio sits at 21.0, above both the five-year and ten-year averages, with analysts forecasting full-year 2026 earnings growth of 21%.  Sector dispersion remains a feature, with semiconductors, energy producers, and defence names leading, while consumer discretionary and commercial real estate have lagged.

Bond Markets

Bond markets have seen meaningful movement on shifting geopolitical and economic signals. The Australian 10-year government bond yield sits around 4.91% as at 28 May 2026, having fallen roughly 9 basis points over the past month from a recent peak above 5%.  The Australian 3-year bond yield shed 18 basis points over the week to close at 4.54%, with markets reassessing the near-term monetary policy outlook after softer employment data.  Markets are now pricing a 96% chance the RBA holds the cash rate at 4.35% in June, up from 84% before the latest data, while pricing for an August hike has been reduced to 24% from 45%.  In the US, the 10-year Treasury yield fell about 5 basis points to 4.5% on 27 May as investors assessed Middle East developments and awaited PCE inflation data.  The 2-year note ended 22 May at 4.13%.

Inflation, Iran and Oil

Inflation remains the connective thread across all three asset classes. Australian CPI annual inflation came in at 4.2% in the 12 months to April 2026, down from 4.6% to March, but the RBA’s preferred trimmed mean measure ticked up to 3.4% from 3.3%  — confirming that underlying price pressures remain above the 2–3% target band. Goods inflation moderated as automotive fuel prices increased more slowly following the reduction of the fuel excise from 52.6 cents per litre to 20.6 cents per litre on 1 April.

The Iran conflict, which began in late February 2026, has been the single largest external shock to markets this year. Brent crude futures closed at $103.54 per barrel and WTI at $96.60 on 22 May, with Brent falling more than 5% over the week as the US and Iran signalled progress in talks to end the war.  Crude prices dropped about $5 per barrel on 24 May after tentative outlines of a peace deal emerged, with Brent trading around $98.76.  However, the parties remain at loggerheads over Tehran’s enriched uranium stockpile and tolls on the Strait of Hormuz.

The trajectory of oil from here will be critical. Lower oil prices feed through to improved consumer sentiment, reduced transport costs, and easing inflation pressure — all supportive for both equities and the case for central bank patience. A breakdown in talks would quickly reverse this benign scenario.

Outlook

For the month ahead, three factors warrant close attention: the path of any US–Iran agreement and its impact on oil, the next Australian quarterly CPI print, and the Federal Reserve’s response to incoming PCE inflation data. Diversification across asset classes and geographies remains the most reliable approach for navigating this environment.

Here are the numbers for May:

As the end of financial year approaches, now is the ideal time for businesses and individuals to begin preparing for important EOFY deadlines and reporting obligations before 30 June.

Planning ahead can help reduce stress, improve cash flow management and provide greater clarity around taxation, payroll and compliance responsibilities before year-end reporting begins.

Key EOFY dates and obligations to keep in mind include:

30 June 2026 — End of Financial Year

• Finalise bookkeeping and reconcile accounts

• Review outstanding invoices and debtor collections

• Ensure superannuation guarantee payments are processed before deadlines

• Review payroll and Single Touch Payroll reporting obligations

• Confirm deductible expenses and supporting documentation are up to date

• Review asset purchases and depreciation opportunities

• Consider trust distribution and tax planning strategies before year end

• Prepare records for upcoming tax return and BAS lodgements

Early EOFY preparation provides valuable time to identify opportunities, address potential issues and ensure everything is in place before the close of the financial year.

If you would like assistance reviewing your business or personal taxation position before 30 June, our team is here to help.

About the fuel response payment plan

As an eligible taxpayer, you can access the ATO fuel response payment plan with the following conditions:

• no upfront payment

• a 3-year payment plan period of 36 equal monthly instalments

• general interest charge remission (GIC). The ATO will make a decision to remit any general interest charge that has accrued from the time of your application to the date of the third monthly instalment provided you

•     > pay all instalments agreed under the payment plan for 3 months

•     > bring any outstanding lodgments up to date in that period.

Note: The ATO fuel response payment plan is available by application until 30 June 2026. You will not have to make a further application for GIC remission for this period.

The ATO will continue to assess the situation and support options available. This information will be updated if the ATO will continue or change this support beyond 30 June 2026.

What to do before accessing the ATO fuel response payment plan

Before applying you must:

• consider whether you are eligible for an ATO fuel response payment plan

• gather information and evidence supporting your eligibility.

If you are not eligible, you should prioritise the following actions:

• Pay your employees their wages and ensure you pay their super guarantee entitlements as a priority.

• Pay your creditors so they can pay their employee entitlements.

• Keep up to date with your lodgments. If you are expecting a refund, lodge as soon as you can.

• If you owe money, pay what you can as soon as you can. For the remaining debt, you can set up a normal payment plan through online services.

• Contact your registered tax or BAS agent to discuss the options that are right for you.

Eligibility to apply for the ATO fuel response payment plan

You are eligible to apply for the ATO fuel response payment plan if you are an ABN holder who meets the following 4 criteria:

1. You have experienced an increase in business operating costs and these costs are either

2. directly attributable to higher fuel costs

3. indirectly attributable to high fuel costs because of increased transport, logistics        or other supply chain costs.

2. You have a new tax debt, or you are unable to service an existing tax debt.

3. You can demonstrate a reduced capacity to pay due to the high fuel prices. This is separate from a general downturn in business or ordinary cashflow issues. This means that if fuel prices hadn’t been so high, you anticipate you would have been able to meet your payment obligations, including your instalments under existing payment plans.

4. Your lodgments are up to date within 3 months of the payment plan being set up. The ATO may cancel your payment plan if lodgments are not up to date within this period. Up-to-date lodgments are also required for the ATO to make a decision to remit GIC under the fuel response payment plans.

Note: If the ATO have commenced legal action against you in relation to your outstanding debt you may not be eligible for the fuel response payment plan.

The ATO fuel response payment plan is available by application until 30 June 2026.

Source and credit: ATO.gov.au

Australians can now instantly confirm whether a call claiming to be from the Australian Taxation Office (ATO) is genuine, with the launch of a new in-app security feature designed to shut down scammers.

The new Verify Call feature in ATO app allows users to confirm, in real time, they are speaking with the real ATO, not a fraudster.

The ATO app provides a quick, easy and secure way for people to manage their tax and super on the go and protect themselves from scammers.

Taxpayers are encouraged to download the ATO app and register their device. Then, when taxpayers receive a call from someone claiming to be from the ATO, they simply need to open the ATO app, login and select the Verify Call option. Within 30 seconds, a notification should confirm it is an ATO call. If it doesn’t appear, users should treat it as a scam call and hang up.

Delivered as part of the Counter Fraud Program, this feature bolsters the ATO’s existing fraud controls in the app which are designed to keep taxpayers’ accounts secure and includes:

• Real time messages when key changes are made to their account.

• Account locking to prevent unauthorised access or fraudulent activity.

The ATO continues to see impersonation scams peak during tax time with almost 7,500 ATO impersonation scams reported in July 2025 alone and is warning Australians to stay vigilant.

The most secure way to sign in to the ATO app and ATO online services is using myID. For the best protection, ensure your myID is set up to the highest identity strength.

If taxpayers receive a suspicious call, SMS, email or social media message:

• Do not reply, click on any links or download any attachments.

• Visit verify or report a scam to check or report it.

• Call the ATO immediately on 1800 008 540, if personal information or payment has been shared with a scammer.

• Visit ato.gov.au/scamsafe for more information on how to protect personal information and stay safe from scammers.

Source and credit: ATO.gov.au

We are proud to support the Northern Rivers Rail Trail campaign — an initiative focused on connecting communities, supporting local business and creating long-term economic and tourism opportunities across our region.

The proposed rail trail represents more than just a recreational pathway. It is a significant investment in the future of the Northern Rivers, encouraging healthier lifestyles, sustainable tourism, regional growth and stronger connections between our towns and communities.

By linking the places we love, the trail has the potential to create lasting economic benefits for local businesses, hospitality venues, accommodation providers and community organisations throughout the region. It will also provide greater opportunities for locals and visitors alike to experience the natural beauty, culture and unique character of the Northern Rivers in a more connected and accessible way.

As a locally focused business, WD Nicholls Chartered Accountants understands the importance of supporting initiatives that strengthen our region, foster community wellbeing and help create a positive legacy for future generations.

We encourage our clients and community to learn more about the Northern Rivers Rail Trail campaign and the important role it can play in shaping the future of our region.

For more information or to pledge your support, visit: www.northernriversrailtrail.com.au/support

Northern Rivers Rail Trail SupportersEmail: info@linktheplaceswelove.com.au

We always like to support our locals!  Here are some community events happening this month (in date order).

Tuesday, 2 June

Service NSW Mobile Service Centre visit to Mullumbimby | 9:00 AM – 3:00 PM

The Service NSW Mobile Service Centre will be visiting Mullumbimby, offering convenient access to a range of government services without the need to travel outside the region.

Services include licence renewals, vouchers, cost of living support and general enquiries.

Location: Byron Shire Council, 70 Station Street, Mullumbimby

Wednesday, 3 June

Service NSW Mobile Service Centre visit to Ocean Shores | 9:00 AM – 3:00 PM

The Service NSW Mobile Service Centre will be visiting Ocean Shores, offering convenient access to a range of government services for local residents.

Location: Ocean Shores Country Club Car Park, 113A Orana Road, Ocean Shores

Wednesday, 4 June

Farm Planning for Agroforestry with Darren Doherty | 9:30 AM – 4:00 PM

Join internationally recognised farm planner Darren Doherty for a two-part agroforestry presentation focused on resilience, profitability and environmental opportunities for modern farming systems.

Ideal for local farmers and landowners looking to explore regenerative and sustainable agricultural practices.

Location: Federal Hall, 466 Federal Drive, Federal

Thursday, 4 June

Service NSW Mobile Service Centre visit to Byron Bay | 9:00 AM – 3:00 PM

Access a range of essential government services locally through the Service NSW Mobile Service Centre visit to Byron Bay.

Location: Byron Bay RSL Club Car Park, 132 Jonson Street, Byron Bay

Thursdays, 4, 11, 18 & 25 June

Byron Farmers Market | 7:00 AM – 11:00 AM

The Byron Farmers Market brings together local farmers, growers and artisan producers each Thursday morning, offering fresh seasonal produce and locally sourced products from across the Northern Rivers.

Enjoy a vibrant community atmosphere while supporting local growers and makers.

Location: Butler Street Reserve, Byron Bay

Fridays, 5, 12, 19 & 26 June

Upcycled Sewing & Craft Sessions | 11:00 AM – 2:00 PM

Come along to a friendly, no-pressure sewing and craft session at The Re-Market. These sessions are a great opportunity to repair and mend favourite clothing pieces, upcycle fabric finds, and learn practical sewing skills in a welcoming environment.

No experience is needed and all ages and abilities are welcome.

Location: The Re-Market, Byron Resource Recovery Centre, 115 The Manse Road, Myocum

Saturdays, 6, 13, 20 & 27 June

Bangalow Farmers Market | 7:00 AM – 11:00 AM

The Bangalow Farmers Market is held weekly on Saturday mornings and showcases fresh local produce, artisan goods and seasonal food from across the region.

It’s a wonderful way to support local growers while enjoying the relaxed Bangalow community atmosphere.

Location: Piccabeen Park, Corner Deacon & Ashton Streets, Bangalow

Saturday, 6 June

Brunswick Heads Community Market | 7:00 AM – 2:00 PM

Held on the first Saturday of each month, the Brunswick Heads Community Market offers a vibrant mix of local stalls, handmade products, artisan goods and fresh produce.

Located beside the river in Memorial Park, the market is within easy walking distance of local cafés and shops.

Location: Memorial Park, 11 Fawcett Street, Brunswick Heads

Sunday, 7 June

Byron Community Market | 8:00 AM – 2:00 PM

The Byron Community Market is one of the region’s most iconic monthly events, featuring local artisans, handcrafted goods, boutique fashion, homewares, produce and live music in a vibrant coastal atmosphere.

Enjoy a relaxed Sunday exploring local creativity while supporting small businesses and community makers.

Location: Main Beach Foreshore, Bay Street, Byron Bay

Wednesday, 18 June

Council Ordinary Meeting | From 9:00 AM

Byron Shire Council’s Ordinary Meeting will take place in the Council Chambers in Mullumbimby. Community members are welcome to attend or view proceedings online via livestream.

Location: Council Chambers, 70 Station Street, Mullumbimby

Sunday, 21 June

Federal Community Market | 8:00 AM – 3:00 PM

Held on the third Sunday of each month, the Federal Community Market is a much-loved hinterland gathering featuring local artisans, handmade goods, fresh produce, boutique stalls and community-focused experiences in the heart of Federal.

Set within the charming Federal Hall grounds, the market offers a relaxed village atmosphere with live music, quality local food and a strong sense of community connection.

Location: Federal Hall, 466 Federal Drive, Federal

Source and credit: Byron.nsw.gov.au/Recreation-Culture/Events-Venues/Whats-On

Key lodgment and payment dates for business

21 June

Activity statements

May monthly activity statements – final date for lodgment and payment.

25 June

Fringe benefits tax return

Lodgment and payment due date for tax agents lodging electronically.

30 June

End of financial year.

Source and credit: ATO.gov.au