Dealing with divorce; your property guide.

Divorce or separation is rarely straightforward—emotionally, legally, or financially. Among the toughest decisions to make is what happens to shared property. Whether it’s the family home, investment properties, or assets held in a self-managed super fund, understanding your options early can help you make informed choices and avoid costly surprises down the track.

 

At Ascent Property Co, we work alongside both parties and are happy to be the liaison, especially if things are strained. This can be a very challenging time, so we also consult with Ascent Accounting to help clients navigate the numbers—from property valuations to capital gains tax implications. 


Here’s a practical guide to help you through the process. 

 

1. Know what you own. 

Before any decisions are made, you’ll need a clear picture of your property portfolio. Ask yourself: 


  • Is the home jointly owned or under one name? 
  • Are there investment properties, land, or holiday homes involved? 
  • What’s the current market value and equity in each asset? 


Independent property valuations (or at least two or three appraisals) are a useful starting point. If parties can’t agree on a value, both lawyers can instruct a single valuer—their determination typically forms the accepted figure for negotiations. 

 

2. Understand the legal framework. 

Property division in both marriages and de facto relationships is governed by family law. While each case is different, the Family Court generally follows a four-step process: 


  1. Determine the total asset pool. 
  2. Assess each party’s contributions, both financial and non-financial (like raising children or managing the home). 
  3. Consider future needs, including income capacity, health, and care of dependents. 
  4. Apply the “sniff test”—a final check to ensure the overall outcome is just and equitable. 


This framework applies whether you were married or in a long-term de facto relationship. A good family lawyer can clarify how the law applies to your situation and help formalise agreements to keep you out of court. 

 

3. Don’t overlook superannuation. 

Superannuation is often one of the largest assets in a relationship, and its part of the overall property pool. Even if property was purchased through a self-managed super fund (SMSF), it will still be considered in the division of assets. This is where accounting advice becomes crucial—understanding contribution limits, compliance obligations, and potential rollover or tax implications can make a significant difference to your financial outcome. 

 

4. Consider a Binding Financial Agreement (BFA). 

Also known as a “prenup” or “postnup,” a Binding Financial Agreement can be worth its weight in gold. It allows couples to agree in advance on how assets will be divided if they separate, potentially avoiding long and expensive legal battles later. 


However, BFAs must be carefully drafted and reviewed by both parties’ lawyers—poorly written agreements can be overturned if they result in an unfair outcome. 

 

5. Explore your property options. 

Once you understand the financial and legal framework, it’s time to explore what’s possible: 


  • Sell and split: Selling the property and dividing proceeds is often the simplest path to a clean break. 
  • Buyout: One partner purchases the other’s share, often requiring refinancing. 
  • Temporary co-ownership: In some cases, particularly when children are involved, parties may retain joint ownership for a period. This arrangement should always be documented to protect both parties. 

 

6. Know the tax implications. 

Selling property can trigger Capital Gains Tax (CGT), especially if the asset wasn’t your primary residence or was generating rental income. Even if a property is transferred as part of a separation, there may be future tax liabilities to consider when that property is eventually sold. 


Ascent Accountants can help clients: 

  • Identify and calculate CGT obligations. 
  • Understand rollover relief options available during divorce settlements. 
  • Plan for any ongoing tax implications tied to assets they retain. 

 

7. Think long-term. 

It’s easy to make emotional decisions in the moment, but your financial wellbeing depends on long-term thinking. Consider whether keeping the family home is sustainable, or if selling and downsizing might provide better security and flexibility. Aim to make choices that set you up for stability and growth, not stress. 

 

We’re here to help. 

The Ascent Property Co team offers clear, confidential advice to help you make informed financial decisions—and move forward with confidence. 


If you’re going through a separation or supporting someone who is, reach out to our team for a no-obligation conversation. 


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What Registrations Do I Actually Need When Starting a Business?

February 13, 2026
Starting a business is an exciting milestone, but the paperwork can quickly become overwhelming. At Ascent Accountants, we often see new business owners get caught in the "registration trap"—either registering for everything at once (and creating unnecessary admin) or missing critical deadlines that lead to penalties. Knowing which registrations are mandatory and which are optional depends on your business structure, turnover, and whether you have a team. Here is our high-level guide to the essential registrations you need to consider. 1. The Foundations ABN & TFN. Australian Business Number (ABN): Your ABN is your business’s unique 11-digit identifier. While not strictly compulsory for everyone , you almost certainly need one. Without an ABN, other businesses must withhold 47% of any payments they make to you. Tax File Number (TFN): Sole Traders: You use your personal TFN. Companies, Partnerships, and Trusts: You must apply for a separate business TFN. 2. Tax Registrations (ATO) Goods and Services Tax (GST): You must register for GST if your business has a GST turnover of $75,000 or more ($150,000 for non-profits). If you drive a taxi or provide ride-sourcing services (like Uber), you must register regardless of your turnover. Fuel Tax Credits: If your business uses fuel in heavy vehicles, machinery, or for other eligible activities, you can claim a credit for the excise or customs duty included in the price. Note: You must be registered for GST before you can register for Fuel Tax Credits. 3. Employer obligations when hiring a team. If you’re moving from a "solo-preneur" to an employer, your registration requirements change significantly: PAYG withholding: You must register for Pay As You Go (PAYG) withholding before you make your first payment to employees or certain contractors. This allows you to withhold tax from their wages and send it to the ATO. Superannuation: You don't "register" for super in the traditional sense, but you have a legal obligation to pay the Superannuation Guarantee (currently 12% on July 1, 2025) for eligible employees. We recommend setting up a Superannuation Clearing House to streamline these payments. On 1st July 2026, super will be required to be paid each payday. Workers’ compensation insurance: This is a mandatory insurance policy for almost all employers in Australia. It protects you and your employees in the event of a work-related injury. Each state has different rules; for example, in WA, you must have a policy if you employ anyone defined as a "worker." 4. Business Identity: ASIC If you want to trade under anything other than your own legal name (e.g., "John Smith" vs. "Smith’s Landscaping"), you must register the name with the Australian Securities and Investments Commission (ASIC). Our advice? Don’t over-register too early. We often see clients register for GST before they reach the $75k threshold. While this allows you to claim GST credits on your setup costs, it also means you must lodge regular Business Activity Statements (BAS). Speak with us before you hit "submit" on your registrations. We can help you determine the most tax-effective timing for your specific situation. Contact the team today.

Protecting Your Property Investment With Title Insurance.

February 13, 2026
When you find your dream home, the process often feels like a whirlwind of inspections, mortgage documents, and packing boxes. Most buyers are diligent about checking for termites or structural cracks, but there is one significant risk that a physical inspection can’t uncover: legal defects in the property’s title. When it comes to real estate, one of the most effective ways to safeguard your equity is through Title Insurance. What is title insurance? Unlike standard home and contents insurance—which covers future events like fires, storms, or theft—Title Insurance is a specialised policy that protects you against existing but unknown legal risks that occurred before you bought the property. It is a one-off premium paid at the time of settlement that provides cover for as long as you own the home. Despite its value, statistics suggest only about 50% of buyers currently opt-in. How it works: real-world scenarios. Title insurance steps in when "discrepancies" surface after you’ve already moved in. Here are the most common ways it protects you: Illegal building work & conversions: It’s common to find a garage that was converted into a bedroom or a deck built without council approval. If the local council discovers this later and demands you bring it up to code or demolish it, Title Insurance can cover the legal and construction costs. Boundary & encroachment issues: Imagine discovering your fence, garage, or driveway is actually sitting on your neighbour’s land or Crown land. The cost of surveys, new building plans, and reconstruction can be staggering. Title insurance handles these expenses. Unpaid rates or taxes: If the previous owner left behind land tax or council rate debts that weren't discovered during settlement, the policy can cover these outstanding costs. Planning & zoning violations: Protection against loss if you cannot live in the house because it doesn't comply with local zoning laws. Is it worth It? These problems often stay hidden for years. You might buy a house that looks perfect, only to find out it has issues when you apply for your own renovation permits. For a relatively low, one-time fee, Title Insurance offers "peace of mind for your purchase." However, it is not a substitute for due diligence. Before you sign: Consult your conveyancer: They can help you finalise the policy during the settlement process. Research the provider: Ensure the company has a strong history of payouts and longevity in the market. Review the coverage: Understand what is specific to your property type (e.g., strata vs. green title). The Ascent perspective. From a financial planning standpoint, an unexpected $20,000 council-ordered demolition or a boundary dispute can derail your investment strategy. Title insurance is a small price to pay to ensure your property remains a secure asset rather than a legal liability. Are you planning a property purchase? Talk to the team at Ascent Property Co and Ascent Accountants to ensure your tax and financial structures are as solid as the roof over your head.

Understanding the New Payday Superannuation Requirements (1 July 2026).

February 13, 2026
From 1 July 2026, the way employers make superannuation guarantee (SG) contributions will change. The Australian Taxation Office (ATO) has introduced Payday Super . This reform requires employers to pay super at the same time they pay employees’ wages. This is a significant update to the timing of super payments, and it’s important that your payroll processes and software are prepared well before the new rules commence. For full details, including eligibility and exceptions, see the ATO’s information on Payday Super. Key changes. Current requirements. Under the existing system, employers can make Super Guarantee payments to an employee’s fund up to 28 days after the end of the quarter. SG can be paid quarterly or more frequently (for example, monthly), and the current quarterly due dates are 28 October, 28 January, 28 April, 28 July. From 1 July 2026 Under the new Payday Super regime, Super Guarantee payments must be paid to an employee’s super fund at the same time as paying qualifying earnings (QE) — that is, on the employee’s payday . The payment must be received by the super fund within 7 business days of payday. There are limited exceptions to this 7-day deadline, such as for new employees. What you should do now. To ensure compliance with the new requirements, we recommend the following steps: 1. Review your payroll software and processes Confirm that your current systems can support on-payday super payments. If updates or changes are required, plan for implementation well in advance of July 2026. 2. Adjust internal procedures Update payroll calendars and workflows to align with the new payment timing, and ensure responsibilities and deadlines within your team are clear. 3. Seek advice if needed If you are unsure how the changes affect your business, or if your current setup requires modification, please contact us! We are here to help. 4. Review business cashflow. Ensure that the business cashflow will allow you to pay the superannuation on time, each payday. If not, you’ll need to put plans in place. We’re here to support you. These changes will affect all employers with staff and will require planning and preparation. If you have any questions or need assistance reviewing your systems and processes, please get in touch with the Ascent team.

Setting Business Goals for the Year.

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Set business goals you’ll actually hit. Track what matters, review often, celebrate wins, and make growth intentional. Read today’s article to learn more.

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Understand the difference between major and minor building defects before you buy. Learn what’s serious, what’s wear and tear, and avoid costly surprises.

Your First Steps in Starting a Small Business

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