TAXATION AND BUSINESS ADVISORS

Crypto Isn't Outside the Tax System Buying and selling cryptoassets has become increasingly common, but there's one point investors shouldn't overlook: Crypto can have tax consequences. Whether you're holding Bitcoin for the long term, swapping tokens or experimenting with different cryptoassets, it's important to understand when a transaction needs to be considered for Australian tax purposes. How Is Crypto Taxed? For many individual investors, cryptoassets are held as inves

Good Financial Decisions Start With Good Records Modern accounting software gives business owners access to more financial information than ever before. Cash flow, profitability, expenses, revenue and key performance indicators can all be reviewed quickly. But there's an important catch. Your reports are only as good as the information going into them. That's why accurate and timely bookkeeping remains one of the foundations of good financial management. Why Is Bookkeeping So

An Important Business Decision From vehicles and machinery to computers and specialist equipment, most businesses eventually need to invest in assets to operate efficiently or support growth. But when the next major purchase comes along, there is an important question to consider: Should you buy the asset or lease it? There isn't one answer that suits every business. The right decision depends on your cash position, the type of asset, how long you'll need it and the overall c

A Significant Change for Family and Business Trusts The 2026–27 Federal Budget announced a significant proposed change to the taxation of discretionary trusts. From 1 July 2028, affected discretionary trusts would effectively be subject to a minimum tax rate of 30%. Since the Budget announcement, the Government has released exposure draft legislation providing considerably more detail about how the new rules are intended to operate. Importantly, the changes are not yet law. T

Working for Yourself Means Wearing a Lot of Hats Being self-employed gives you independence and flexibility, but it also means taking responsibility for parts of the business an employer would normally handle for you. You're not just doing the work. You're also managing invoicing, expenses, cash flow, record keeping and tax. Putting good financial habits in place early can save considerable time and stress later. Understand What You Can Claim One of the first things to unders

Which Method Is Better? If you use your own car for work, choosing the right method for claiming your car expenses can make a significant difference to your tax deduction. For the 2025–26 income year, there are two main methods available: cents per kilometre and the logbook method. Neither is automatically better. The right choice depends on how much you use your vehicle for work, what it costs to operate and the records you have maintained. When Can You Claim Car Expenses? G

Why Cash Flow Matters Profit is important but profit alone doesn't pay the bills. A business can be profitable on paper and still experience serious financial pressure if it doesn't have enough cash available when wages, suppliers, tax or loan repayments fall due. That's why understanding and managing cash flow is such an important part of running a financially healthy business. What Is Cash Flow? Cash flow simply measures the movement of money into and out of your business o

New Requirements for Professional Service Firms From 1 July 2026, Australia's anti-money laundering and counter-terrorism financing (AML/CTF) laws expanded significantly, bringing thousands of additional businesses within the regulatory framework. For the first time, many accounting firms, legal practices, conveyancers and real estate professionals are now subject to AML/CTF obligations when providing certain services. What Has Changed? Businesses providing designated service

Supporting Business Growth Growing a successful business often involves taking calculated risks. Whether investing in new equipment, expanding operations or developing new products, periods of lower profitability or even trading losses can sometimes be part of the journey. The proposed loss carry back measures announced in the 2026–27 Federal Budget are designed to help reduce the financial impact of those losses while improving business cash flow. What Is Loss Carry Back? Lo

The Importance of Working Capital Cash flow continues to be one of the biggest challenges facing Australian businesses. Even profitable businesses can encounter difficulties if they do not have sufficient working capital available to fund daily operations and support growth. Working capital is the financial fuel that keeps a business moving. What Is Working Capital? Working capital refers to the cash and short-term assets available to operate a business on a day-to-day basis.

Tax Planning Matters Many business owners feel that too much of their hard-earned income disappears in tax. While tax is an unavoidable part of running a successful business, there are often opportunities to improve tax efficiency through proper planning and structure. Growth Often Means Higher Tax As your business grows, your tax obligations generally grow with it. Success often comes with larger tax liabilities, which makes proactive tax planning increasingly important for

Why Your P&L Matters Understanding the relationship between revenue and expenses is one of the most important parts of running a successful business. A well-prepared Profit & Loss statement (P&L) can provide valuable insight into profitability, efficiency and overall business performance. What Is a Profit & Loss Statement? A Profit & Loss statement, sometimes referred to as an Income Statement, summarises a business’s income and expenses over a specific period of time. Unlike

A Significant Change for Employers A major change to employer superannuation obligations is about to commence. From 1 July 2026, the current quarterly super payment system will be replaced by Payday Super, requiring employers to pay super contributions much closer to employee payday. For many businesses, this will require changes to payroll processes, cash flow management and compliance procedures. The Final Quarterly Super Payment The quarter ending 30 June 2026 is the final

The Role of Accountants Has Changed Many business owners still view their accountant as someone who prepares tax returns and annual financial statements. While compliance remains important, the role of a modern accountant has evolved significantly. Advances in technology, cloud accounting and artificial intelligence now allow accountants to provide deeper insights into business performance and future opportunities. Looking Beyond Historical Numbers Traditionally, accountants