Sunshine Coast Region, Queensland
Tax Accountant in Caloundra
The seniors offset, and the paperwork when the business shuts its doors
Individual tax returns for Caloundra seniors, pensioners and self-funded retirees, and the final lodgements when a business closes, from a CPA practice.
The ABS suburb of Caloundra had a median age of 58 in the 2021 Census. People aged 65 to 69 made up 7.8% of its residents, 70 to 74 made up 9.2% and 75 to 79 made up 8.1%, and 39.0% of occupied homes were owned outright. Lone-person households were 42.3% of the total.
Caloundra in brief
The town on the Pumicestone Passage.
Bribie Island lies across the Pumicestone Passage to the south, and Kings Beach is the main beach. The first allotments of land were advertised for auction on 28 August 1883. The wider town had 96,305 residents in 2021, while the suburb of Caloundra had 3,932.
Three questions for seniors and retiring owners
The seniors and pensioners tax offset
Why it happens
A retiree or pensioner earns some income outside the pension, such as interest or a part-time wage, and lodges a return.
Why it matters
For 2025-26, the seniors and pensioners tax offset is up to $2,230 for a single person, reducing from rebate income of $34,919 and cutting out at $52,759. For each member of a couple it is up to $1,602, reducing from $30,994 and cutting out at $43,810 each, or $87,620 combined. It reduces by 12.5 cents for every dollar of rebate income over the shading-out threshold.
How we help
Lomandra Accounting keeps your records accurate, your deadlines met and your options easy to understand.
Couples living apart because of illness
Why it happens
One partner moves into a nursing home or has to live apart for health reasons.
Why it matters
For couples separated by illness or because one is in a nursing home, the maximum offset is $2,040 each and the combined income limit rises to $100,104.
How we help
Note the date the separation began; it changes which limits apply for the year.
Closing a business on retirement
Why it happens
An owner stops trading and winds the business up.
Why it matters
Lodge the final BAS and finalise all outstanding lodgements and payments first. GST registration must be cancelled within 21 days of closing, and the ABN within 28 days of stopping business activities; cancelling the ABN also cancels GST and fuel tax credit registrations. Don't cancel the ABN if the business is only paused.
How we help
Make a list of every registration the business holds before you start closing them.
Frequently asked questions
How much is the seniors and pensioners tax offset in Caloundra?
For 2025-26, up to $2,230 for a single person and up to $1,602 for each member of a couple, reducing as rebate income rises.
When does a single person's offset cut out?
At rebate income of $52,759 for 2025-26.
How long do I have to cancel my ABN after closing my business?
28 days from stopping business activities. GST registration must be cancelled within 21 days.
Where to next
Have a question?
Before you retire
Personal Accounting Services on the Sunshine Coast.
Lomandra Accounting is a CPA Practice, registered with the Tax Practitioners Board and an SMSF Specialist. Emma, the Director, is a Certified Practicing Accountant (CPA) with extensive experience in commercial business management, and specialises in Self-Managed Super Funds (SMSFs).
- 07 5234 9201
- admin@lomandraa.com.au
- Sunshine Coast, QLD
- Monday to Friday, 9am to 4:30pm