Latest News May 2026

http://www.aplaccountants.com.au

Sentiment vs. Statistics – Is The Industry Slowing Down?

When the news cycle is dominated by talk of recessions and global instability, it’s easy to attribute a quiet afternoon at the clinic to the “general economic environment.” It is a natural human response to seek external reasons for internal shifts.

However, making strategic decisions based on a “gut feel” regarding the economy can be risky. Here is what the actual data is telling us right now:

According to our Industry Health Tracker, we have not yet seen a significant drop in veterinary business performance. Across the board, both client visits and average spend trends are tracking in the same way as they have been for the last 3 years with a small and persistent drop in pets visiting clinics (yes this is a concern), but this is being offset by an increase in spend per patient – the current fuel crisis does not appear to have made this 3 year trend any worse.

If your clinic is experiencing a genuine downturn, it’s important to recognise that this is not an industry-wide trend. While that might sound daunting, it’s actually good news. It means that the issue is likely internal and, more importantly, solvable.

If your clinic’s performance isn’t aligning with our industry benchmarks, it may indicate a temporary quirk, a local shift or an operational bottleneck rather than a macroeconomic collapse. Decisions rooted in specific data will always serve a practice better than those made in response to general market sentiment and gut feel.

If your data confirms a drop in performance, let’s identify the specific cause. At APL, we specialise in cutting through the noise to find the “why” behind the numbers. If you aren’t currently a client, feel free to contact us by replying to this email to find out how we can help.

Or contact us on our website here:

We are able to compare your clinics performance against the industry trends month by month! This means we can tell you if your drop in performance is really related to the general econony or something specific to your practice.

For those of you using Profitdiagnostix software, you can check on this whenever you want in a dashboard called ‘My Veterinary Industry Tracker’.

Payday Super

From 1 July 2026, the “Payday Super” reform will officially begin, representing one of the most significant shifts in Australian payroll since Single Touch Payroll (STP).

For many businesses, this marks the end of the “quarterly buffer” that has traditionally assisted with managing working capital. Here is a breakdown of what you need to know and how to prepare.

The Big Change: Payday = Super Day

Currently, many businesses pay superannuation quarterly, up to 28 days after the end of the period. From 1 July 2026, employers must pay super at the same time as salary and wages.

^{The 7-Day Rule: Contributions must be received by the employee’s super fund within 7 business days of payday. Because “received” means the money must actually land in the fund’s account, you will likely need to initiate payments through your software or clearing house within 1-2 days of your pay run to avoid penalties.}

^{Key Technical Details You Need to Know} 

Beyond the timing change, several other structural shifts are occurring:

• Calculation Base: Currently, super is calculated on Ordinary Time Earnings (OTE). Under the new rules, this shifts to Qualifying Earnings (QE), which includes OTE plus salary sacrifice amounts and other specific payments. Note that commissions will need supaerannuation paid even if they are for overtime work. Remember to check the Pay Items in Xero are correctly set up and the “Report as Qualifying Earnings” box is ticked.

• Reporting Requirements: You currently report OTE via Single Touch Payroll (STP). From July 2026, you will be required to report both QE and your total super liability through STP every payday.

• Small Business Super Clearing House (SBSCH): If you currently use the SBSCH, please note it will be permanently closed on 1 July 2026 as payroll software takes over the heavy lifting.

• Tax Deductibility of Missed Payments: Currently, if you pay super late and incur the Super Guarantee Charge (SGC), it is not tax-deductible. To encourage honesty, the new rules make SGC payments tax-deductible.

• Interest on Late Payments: The current 10% per annum penalty is being replaced by daily interest based on the General Interest Charge (GIC), making even short delays more expensive.

How to Get Ready Now

• Transition Early: You don’t have to wait until 1 July 2026. Transitioning to monthly or fortnightly super payments now will help you “stress test” your cashflow before it becomes a legal requirement. 

   

• Update Employee Data: Rejected payments will be a major risk under the 7-day rule. Ensure you have the correct Super Fund and TFN details for all staff to prevent delays. 

   

• Review Contractor Agreements: Under the new “Qualifying Earnings” definition, some contractor payments may fall more clearly into the superannuation net. 

A Unique New Addition to Our Pack!

At APL Accountants, we pride ourselves on providing advice that works in the real world. That’s why we’re so excited to welcome James to our advisory team. He brings a perspective that is a rare find, he has years of experience as a vet and a successful track record as a clinic owner. Currently he is pursuing his accounting qualifications. Having navigated the unique challenges of running a practice firsthand, he is now combining that “on-the-ground” experience with formal accounting studies. He understands your world – not just the numbers on the page, but the daily reality of managing staff, patients, and a bottom line. We are excited for our clients to benefit from his dual expertise.