Month: March 2025

Key proposals are still in limbo, and the election result will decide whether they become law, get reworked, or vanish altogether. Here’s what’s on the line and why it matters. ➤ Super Shock — 30% Tax on Unrealised Gains Over $3M One of the most contentious proposals is a new 30% tax on unrealised gains…

Imagine how you would feel if you borrowed $200,000 to invest in shares or property. Then, at tax time, your accountant tells you that the interest on the loan is not tax deductible — all because the funds were first transferred to your personal savings account before going to your agent or investment account. It’s…

Recent data indicates a significant increase in the issuance of Director Penalty Notices (DPNs) by the Australian Taxation Office (ATO). For Australian small business owners, managing tax obligations is a key part of keeping your business financially healthy. However, when tax debts pile up, the Australian Taxation Office (ATO) may take action, including issuing a…

Many small business owners treat GST as part of their revenue, but this is a dangerous financial mistake. GST is not your money—it belongs to the ATO. Why GST Is Not Yours? When you sell a product or service for $1,000, you don’t just charge $1,000—you add 10% GST, bringing the total to $1,100. The…

Running a successful small business requires more than just sales growth—it requires a solid understanding of your financial health. By tracking key financial metrics, business owners can make informed decisions, improve profitability, and ensure long-term stability. Tracking the right numbers is the secret to a thriving business. Here are five simple financial metrics and how…

Many business owners believe that they can pull funds out of business whenever they want and that if an expense is paid from their business account, it’s automatically becomes a business deduction for tax purposes. Wrong! The Australian Taxation Office (ATO) has strict rules, and claiming the wrong expenses can lead to audits, penalties, and…

Remember the early days of your career? The frustration of feeling unheard, overworked, or undervalued? The rigid policies, the micromanagement, the lack of recognition—things you swore you’d change if you were ever in charge. Fast forward a few years. You’re now the employer, the decision-maker. But take a step back and ask yourself: Have you…

Twenty years ago, when I started working in the accounting field, tax management was a fundamental part of financial discipline for business owners and individuals alike. People knew that a portion of their earnings wasn’t truly theirs—it belonged to the tax office. They would set aside money for tax obligations first and then operate within…

The Australian Taxation Office (ATO) has announced that, starting from April 1, 2025, certain small businesses with a history of non-compliance will be required to shift from quarterly to monthly Goods and Services Tax (GST) reporting. This measure aims to promote timely compliance and assist businesses in maintaining accurate financial records. Who Will Be Affected?…