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November brings a mix of reform and real-world lessons from new super tax rules for high balances to extended small business incentives and rising cybersecurity threats. Here’s what’s shaping the financial and business landscape this month.
Super Tax Shake-Up for Large Balances
The Government has released a revised proposal for the Better Targeted Superannuation Concessions, affecting those with super balances above $3 million.
The new model removes the most controversial feature — taxing unrealised gains — and instead applies extra tax only to realised income and capital gains.
It also introduces two tiers:
Tier 1: 15 per cent extra tax on earnings between $3 million and $10 million (30 per cent total)
Tier 2: 25 per cent extra tax on earnings above $10 million (40 per cent total)
Both thresholds will be indexed to inflation, and the start date has been pushed back to 1 July 2026.
The change affects less than half a per cent of Australians, but if your balance is nearing $3 million, it’s worth reviewing your investment strategy, liquidity and future contribution plans now.
When Medical Bills Meet Tax Rules
A recent tribunal case, Wannberg v Commissioner of Taxation, served as a reminder that most medical expenses are not tax-deductible, even when linked to income from disability pensions.
The taxpayer, who received a Total and Permanent Disability pension, claimed nearly $100,000 in medical costs. The tribunal ruled these were private in nature and not directly connected to earning income.
The key takeaway is that deductions must have a clear and direct connection to producing income — medical or therapy costs generally don’t meet that test.
Before claiming large or unusual expenses, seek advice or a private ruling to avoid disappointment.
Instant Asset Write-Off Extended
A new Bill before Parliament proposes to extend the $20,000 instant asset write-off for small businesses through to 30 June 2026.
Businesses with turnover under $10 million will continue to be able to deduct the full cost of eligible assets under $20,000, as long as each item is installed and ready for use before the deadline.
This measure helps improve cash flow and makes it easier to reinvest in tools, technology or equipment. Now’s the time to plan purchases to ensure eligibility once the legislation passes.
The Bill also introduces stronger transparency measures for listed companies and charities, requiring clearer reporting of shareholdings and regulator investigations to increase public trust.
Cybersecurity in Accounting and Beyond
Cybercrime continues to rise, with small and medium businesses facing an estimated 55 per cent increase in the cost of cyberattacks over the past year. The financial services sector remains one of the most targeted industries.
The most common risks come from staff errors — phishing emails, weak passwords and legacy systems that lack security updates.
The Australian Signals Directorate recommends:
Applying critical vendor patches within 48 hours
Replacing outdated systems (such as Windows 10, which is now end-of-life)
Maintaining event logs and regular monitoring to detect breaches early
Every business should also have a Cyber Incident Response Plan outlining how to respond, mitigate and communicate in the event of an attack. In today’s digital world, cybersecurity is as essential as any financial control.
From superannuation reform to cyber protection, November’s updates show how planning, compliance and vigilance continue to shape business success. If you’d like help reviewing your super position or cybersecurity readiness, contact Strategic 360 for tailored advice.
Tax and super rules are evolving rapidly from Canberra to Capitol Hill. If you’d like to understand how these changes may affect your personal or business finances, reach out to Strategic 360 for clear, practical advice.
Kerrily and Louise – Directors
