TAXATION AND BUSINESS ADVISORS

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? Loss carry back...

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 business owners...

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 quarter covered...

The ATO regularly highlights compliance risks that affect small businesses. One issue that continues to arise is where shareholders of private companies use company money or assets for personal purposes. If these situations are not managed properly, they can trigger Division 7A tax consequences. Understanding Division 7A Division 7A is designed to prevent shareholders of private companies from accessing company profits tax-free. The rules ensure that when a company provides financial benefits...

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. It is generally...

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 balance sheet,...

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 focused on...

ATO Compliance Crackdown: 5 Steps Small Businesses Should Take The Australian Taxation Office is increasing its focus on small business compliance. As Angela Allen, Assistant Commissioner at the ATO, recently noted: “Every year we see small businesses run into avoidable issues because they haven’t kept accurate records, reported all their income or managed their cashflow effectively.” For many businesses the issue is not deliberate non-compliance, but simply poor systems, weak record keeping...