Posted on June 16, 2026 by admin
With the end of the financial year just weeks away, most business owners are heads-down managing day-to-day operations. But this is precisely the time to pause and take stock of how your business is actually performing — not just how it feels. A structured review of your key financial metrics now gives you the chance to fix problems, capture opportunities, and walk into the new financial year with a clear picture. Gross profit margin Start with your gross profit margin — the percentage of revenue left after you subtract the direct cost of delivering your product or service. If your […]
Posted on June 14, 2026 by admin
Most people assume superannuation contributions are either made by their employer or set up through salary sacrifice. But there’s a third option many Australians overlook — and it can deliver a meaningful tax saving before 30 June if you act in time. What is a personal deductible contribution? A personal deductible contribution is money you transfer directly from your own bank account into your super fund — not through your employer, not through salary sacrifice. You then claim it as a tax deduction in your personal return. The contribution is taxed inside the fund at 15% rather than at your […]
Posted on June 10, 2026 by admin
For years, the $20,000 instant asset write-off has been a lifeline for small businesses — letting you immediately deduct the full cost of eligible assets rather than writing them off gradually over multiple years. The only problem was the uncertainty. Each year, the question loomed: will it be extended again? That question has now been answered. The 2026 Federal Budget has made the $20,000 instant asset write-off permanent. What this means for your business From 1 July 2026, if your business has an annual turnover of less than $10 million, you can immediately deduct the full cost of any eligible […]
Posted on May 17, 2026 by admin
One of the biggest changes to hit Australian payroll in a generation is now less than two months away. From 1 July 2026, employers must pay superannuation contributions on payday — and it must land in the bank account of the Super Fund within seven business days of each wage payment — rather than quarterly. If your payroll systems, processes, and cash flow planning are not ready, the consequences can be significant. What is changing and why it matters Under the current rules, employers have been able to accumulate super obligations and pay them quarterly. Under Payday Super, that buffer […]
Posted on May 7, 2026 by admin
Cash flow is the lifeblood of any small business. And for many businesses — particularly in hospitality, trades and personal services — that includes a mix of card and cash payments. From time to time, headlines hit the stands, reminding business owners not to “hide” cash income. While those messages can sound heavy-handed, the underlying issue is important. As your accountant, our role isn’t to alarm you – it’s to help you understand the risks and make sure your business is protected. Cash Is Still Income It doesn’t matter whether a customer pays you via EFTPOS, direct transfer or a […]
Posted on May 5, 2026 by admin
The fringe benefits tax year runs from 1 April to 31 March — and if your business provided any non-cash benefits to employees or their family members during that period, an FBT return may be due. The lodgement deadline is 21 May, so now is the time to check whether this applies to you. What is fringe benefits tax? Fringe benefits tax, or FBT, is a tax paid by employers on certain benefits they provide to employees, associates of employees, or directors — in addition to, or instead of, salary and wages. The current FBT rate is 47%, which is […]
Posted on May 4, 2026 by admin
Financial fraud perpetrated by abusive partners and family members has emerged as a deeply damaging form of economic abuse, particularly when victims are nominated as company directors without their knowledge or consent. These fraudulent appointments can expose unsuspecting individuals to significant financial and legal liabilities – long after the abusive relationship has ended. At its core, this type of fraud manipulates corporate and tax systems to weaponise company structures against victims. An abusive partner might register their victim as a director of a business under false pretences – using their personal details, forged signatures, or coercing them into signing paperwork […]
Posted on by admin
Trusts can be a powerful tool for managing assets, protecting wealth, and planning for succession, but when they are poorly structured or managed, they can create unexpected complications. Recognising the warning signs of inadequate trust planning can help trustees and beneficiaries avoid legal, tax, and financial pitfalls. Lack of Clear Objectives One of the most common indicators of poor trust planning is a lack of clarity about the trust’s purpose. A well-structured trust should have clearly defined goals – whether it’s asset protection, tax planning, or providing for beneficiaries. When the objectives are vague or inconsistent, the trust may fail […]
Posted on by admin
Inheriting a home can be both an emotional and practical experience. Alongside the personal significance, there are important tax considerations to be aware of – particularly if you decide to live in the property for a period and then sell it. Understanding how the Australian tax rules apply can help you avoid surprises and make informed decisions. From a tax perspective, the key issue is capital gains tax (CGT). Whether CGT applies – and how much – depends on how the property was used both before and after you inherited it. If the deceased person lived in the property as […]
Posted on March 15, 2026 by admin
When you’re running a business, there’s a lot going on behind the scenes in your financial reports that you may not think about day to day. One of the most important of these ideas is something called “going concern.” While it may sound technical, the concept is quite simple – and very relevant to your business. Put plainly, a going concern means your business is expected to keep operating into the foreseeable future. It assumes you’ll continue trading as normal, paying your bills, meeting payroll, and growing your business, rather than needing to shut down or sell everything off in […]
Posted on June 16, 2026 by admin
With the end of the financial year just weeks away, most business owners are heads-down managing day-to-day operations. But this is precisely the time to pause and take stock of how your business is actually performing — not just how it feels. A structured review of your key financial metrics now gives you the chance to fix problems, capture opportunities, and walk into the new financial year with a clear picture.
Gross profit margin
Start with your gross profit margin — the percentage of revenue left after you subtract the direct cost of delivering your product or service. If your margin is tracking below budget or below where it was at this point last year, something has changed. Either your prices haven’t kept up with rising input costs, your cost of goods has crept up without you noticing, or your sales mix has shifted toward lower-margin work. Any of these is worth investigating before they become a bigger problem in the new financial year.
Debtor days and cash flow
How long are your customers actually taking to pay you? Debtor days — the average number of days between issuing an invoice and receiving payment — is one of the clearest signals of cash flow health. If your debtor days have stretched out compared to the same period last year, you may have a growing pile of unpaid invoices quietly eroding your working capital. Now is a good time to identify your slow payers, review your payment terms, and consider whether your invoicing and follow-up process needs tightening. On the other side, check your creditor days too — are you paying your suppliers on time, or are there outstanding bills building up?
Revenue vs forecast and cash in the bank
Pull your year-to-date revenue and compare it directly against what you planned at the start of the year. If you’re tracking behind, ask why — is it a market issue, a pricing issue, or a specific client or product line underperforming? If you’re tracking ahead, consider whether your cost base has scaled appropriately, or whether there’s an opportunity to invest before 30 June. Then look at your bank balance right now compared to this time last year. Cash is the ultimate reality check — it doesn’t lie the way profit figures sometimes can.
End-of-year tax planning and write-offs
Before 30 June, this is also the window to consider whether there are any write-offs you should be taking — bad debts you’ve been holding onto, obsolete stock, or assets that are no longer in use. It’s also worth reviewing whether there are any asset purchases or prepayments that make sense to bring forward into this financial year. These decisions are worth running past your accountant rather than making on the fly — the tax implications vary depending on your business structure and current-year income.
The difference between planning and reacting
Businesses that review their numbers regularly — not just at tax time — consistently make better decisions. The metrics above aren’t just housekeeping; they’re the early warning system that tells you whether your business is on track or quietly drifting off course. Taking an hour now to work through these figures is one of the most valuable things you can do before the new financial year begins.
Powered by WPeMatico
