How can we support your business profitability?
Maximising profitability is a key focus for every business owner. Achieving this requires close attention not only to income generation but also to expenditure control. Strong financial management is about understanding both sides of the ledger—what comes in, and what goes out. Modern accountants do far more than prepare tax returns and financial statements. Today’s […]
Suspension of business postal deliveries to the US: what options do you have?
Australian exporters selling directly to US consumers should be aware of a recent change to US import regulations. Until recently, goods valued under USD $800 qualified for the de minimis exemption and were not subject to tariffs or import duties. This exemption has now been removed by executive order, effective 29 August. As a result, […]
The ATO’s new Tax Toolkit for small business owners
One of the unavoidable realities of running a business is ensuring that your tax obligations are met—both on company profits and on remuneration as a director. While not the most glamorous responsibility, tax compliance sits firmly with you as the business owner or director. To assist, the Australian Taxation Office (ATO) has released its latest […]
Should you buy or lease your business assets?
Certain items of equipment, machinery and vehicles are essential to the smooth running of your business – whether it’s a delivery van for a food service, or a digital printer for a print shop. When a critical asset is required, the key question becomes: should you purchase the item outright, or lease it and spread […]
Keeping your tax and expenses in check when you are self-employed
Operating as a contractor or freelancer requires you to manage multiple aspects of your business – building client relationships, tracking your billable hours, promoting your services, and delivering quality work. Equally important is establishing sound financial management practices from the outset to ensure sustainable operations. We can assist in establishing tailored financial systems to help […]
Protecting you and your business: using trusts
As a business owner, protecting your personal assets from business risk is a fundamental part of sound financial planning. In this series, we explore key asset protection strategies — including trusts, insurance, and risk management frameworks. In this article, we focus on how trust structures can be used to protect personal assets and safeguard long-term […]
How to claim tax deductible expenses as an individual
As an Australian taxpayer, you’re required to lodge your income tax return with the ATO each financial year, ending 30 June. While this is a standard obligation, it’s also an opportunity to review any eligible deductions that could reduce your taxable income. By claiming allowable deductions, you can legitimately reduce the amount of income you’re […]
New small business owners to get compliance support by the ATO
The Australian Taxation Office (ATO) has launched its Ready for Business campaign, aimed at providing support to ABN holders through a series of informative emails over the coming months. These updates will offer practical tips on ABN compliance, business restructures, GST registration, and employer responsibilities. According to the ATO, small businesses that seek advice from […]
What makes a business expense tax deductible?
As a business owner, it’s natural to incur various expenses in the day-to-day running of your operations — from fuelling your vehicle to entertaining clients and purchasing office supplies such as printer toner. But the important question is: Are these expenses tax-deductible? The Australian Taxation Office (ATO) recently published examples of inappropriate claims made by […]
Your upcoming tax calendar for May and June 2025
As we approach the end of the 2024–25 financial year, it is important to begin preparations for year-end compliance. This typically involves finalising your general ledger accounts and ensuring all statutory obligations are met in a timely manner. It can, however, be a busy period where key deadlines are inadvertently overlooked – such as lodgement […]