2026 Budget: The Big Changes Editor: The Federal Government handed down the Federal Budget on 12 May 2026, with some of the biggest changes to the tax system in years.Some of the main proposed changes include: Delivering a new Working Australians Tax Offset ('WATO') to provide a permanent annual $250 tax offset to all eligible Australian workers. T...
ATO is 'clearing up' some common Payday Super myths With less than two months until Payday Super starts (on 1 July 2026), the ATO wishes to 'clear up' the following common misconceptions. Myth: "There is nothing super fund trustees need to do before the start date."Fact: Super funds should have already taken steps to receive more frequent contribut...
One of the most common things we hear from business owners is, "I feel busy, but I'm not sure whether the business is actually doing well financially." It is a familiar situation. Sales may be coming in, work may be steady, but there is still uncertainty around cash flow, profit and overall financial performance. We have worked with many business o...
We often speak with business owners who only realise their bookkeeping is disorganised once tax time arrives. By that stage, the process can feel rushed, unclear and far more stressful than it needs to be. We have helped many clients clean up their books after the fact, and the feedback is often similar. They usually wish they had kept things more ...
Pay Day Super is coming From 1 July 2026, proposed changes will require employers to pay super at the same time as wages, instead of quarterly.What's Changing?Currently, employers are required to pay super on a quarterly basis.Under the changes: Super must be paid on or before each paydayThis will apply to all employersLate payments may attract inc...
Each year follows a familiar pattern. Business owners plan to get organised early, but day-to-day demands take priority. Before long, EOFY arrives and everything feels rushed. The businesses that manage this period with less stress are usually the ones who start with a clear, simple checklist well in advance. Here is a practical EOFY tax planning c...
As a business owner, you are regularly receiving emails, text messages and phone calls about payments, invoices, tax notices and account updates. Recently, a number of clients have forwarded suspicious messages to us asking, "Is this real?" Taking that extra step to check can prevent significant financial loss. Financial scams are becoming increasi...
$20,000 instant asset write-off extended Editor: The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026.Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be able to use the instant asset writeoff ('IAWO...
Mandating cash acceptance The Government recently announced that it was delivering on its commitment "to mandate cash acceptance for essential purchases by finalising regulations that require fuel and grocery retailers to accept cash from 1 January 2026."The changes mean that, from 1 January 2026, most food and grocery retailers must accept cash fo...
If your current accounting system feels hard to use, outdated, or no longer suits how your business operates, it may be time to review your options. Choosing the right accounting software can help reduce admin time, improve accuracy, and give you clearer visibility over your financial position, supporting better decision-making. Business owners oft...
If funding or investors are part of your plans this year, preparing your financials early is one of the most important steps you can take. Business owners often seek funding to support growth, hire staff, invest in marketing, purchase equipment, improve cash flow, or create greater stability as operations expand. Whether you are planning well in ad...
Choosing the right business bank account is an important step for sole traders and small business owners. The account you select can affect how you manage cash flow, track expenses, and keep your finances organised throughout the year. A suitable business bank account can simplify bookkeeping, support accurate financial records, and help keep perso...
One of the most common questions small business owners ask is: "How much should I be putting aside for tax?" Many people start their business without a clear plan for tax savings. As a result, they feel stressed, caught off guard by their tax bill, or unsure how much they should have put away during the year. The good news is that with a simple, co...
Employers should begin planning now for the permanent shutdown of the Small Business Superannuation Clearing House (SBSCH) on 1 July 2026. Taking action early ensures you can transition smoothly to an alternative super payment method and avoid issues around quarterly SG deadlines. Switching ahead of time will help businesses: Maintain a reliable su...
Many small business owners separate their personal and business finances in theory - but in reality, your personal money habits have a direct impact on how your business performs. Strong personal financial management often leads to clearer decision-making, better cash flow control and greater confidence when planning for business growth. If you wan...
"It's just easier if I do it myself." business owners Every business owner has said it at some point: "It's just easier if I do it myself." But in reality, effective delegation isn't about losing control - it's about building efficiency, freeing up your schedule, and focusing on the work that drives growth. Here's how to delegate smarter and actual...
The holiday season brings celebration, connection, and often - extra expenses. For small business owners, it's the perfect time to enjoy the festivities while staying financially focused. With a little preparation, you can finish the year strong and start the new one with confidence. Set a clear holiday budget Create a detailed budget for end-of-ye...
Dual cab utes and FBT The ATO wishes to dispel the 'common myth' that dual cab utes are automatically exempt from fringe benefits tax ('FBT'). If an employer provides dual cab utes to staff to complete their duties and the vehicle is available for personal use, then the benefit may be subject to FBT. By understanding how their employees use their d...
Employees incorrectly treated as independent contractors The ATO is warning businesses that if they incorrectly treat an employee as an independent contractor, then they risk receiving penalties and charges, including: PAYG withholding penalty for failing to deduct tax from worker payments and send it to the ATO;Super guarantee charge ('SGC'), whic...
ATO to include tax 'debts on hold' in taxpayer account balances From August 2025, the ATO is progressively including 'debts on hold' in relevant taxpayer ATO account balances. Editor: A 'debt on hold' is an outstanding tax debt where the ATO has previously paused debt collection actions. Tax debts will generally be placed on hold where the ATO deci...
