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 investments and are...

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 cost of each...

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 understand is which...

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 over a particular...

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 Important?...

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. The exposure draft...

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? Generally, you may...

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 services are now...