As we approach the end of the 2025 financial year, now is the time to be proactive with tax planning, especially with a federal election around the corner and potential future policy changes ahead.
Here’s a comprehensive checklist of what to consider before 30 June 2025:
This morning, I had the absolute honour of speaking at the Bayview Golf Club about one of my favourite topics: the common traps small business owners fall into — and how to avoid them. Whether you’re just starting out or have been in business for a few years and are feeling burnt out, these lessons are golden.
When you hear the words “tax planning,” you might assume it’s only relevant for the wealthy or large companies. In reality, tax planning is one of the most powerful tools available to small business owners, sole traders, and individuals with investments or multiple income streams.
When done properly, it can help you legally reduce the amount of tax you pay, avoid unwelcome surprises at tax time, and plan ahead with confidence.
The 2025–26 Federal Budget was handed down on 25 March, and with an election on the horizon, it’s no surprise this one is heavy on headlines and light on deeper reform. There’s something in it for most Australians — but there’s also a lot it doesn’t address, particularly for small business owners.
This week, I had the honour of speaking on the main stage at the Accounting & Business Expo 2025 in Sydney, where I shared the journey of Freshwater Taxation along with common mistakes that small business owners can easily make. I also discussed how these mistakes can be fixed, and – most importantly- how to avoid them altogether.
Fringe Benefits Tax (FBT) is a tax that employers must pay on non-cash benefits provided to employees (or their family members) in addition to salary or wages. It applies to all business structures, including companies, partnerships, and sole traders with employees. It even applies to non-profit organisations (although some exemptions apply for charities).
If you’ve recently started a company or transitioned from being a sole trader or partnership, understanding Division 7A of the Income Tax Assessment Act 1936 is essential. These tax rules prevent private companies from distributing money to shareholders and associates without the correct tax being paid.
Any Client is a Good Client, Right? No! Bad clients can do more harm than good—draining your time, energy, and, more often than not, your profitability. Sometimes, having no clients at all is actually a better position to be in. Here’s why:
With the rise of remote work and home-based businesses, many Australians wonder if they can claim rent as a tax deduction. The answer? It depends—on your employment status, business structure, and how you use your home for work. So, let’s break it down in a way that actually makes sense…
When it comes to selling property in Australia, Capital Gains Tax (CGT) can have a big impact on your finances—especially if you’re not prepared for it! But don’t stress. With the right strategies, you can minimise—or even avoid—CGT altogether. In this blog, I’ll break down the key rules and exemptions to help you make informed decisions when it comes to your property.
Getting ahead financially doesn’t have to be complicated. In fact, it can be as simple as setting up “buckets” for your various expense categories. This method works wonders for both personal and business finances, giving you clarity, control, and motivation to stay on track. Here’s how it works:
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