When I started Freshwater, I wasn’t thinking about building a firm in the way I do now. There was no clear plan around systems, client selection, pricing strategy or long-term sustainability. Like most people starting out, I simply wanted to create something that worked. I wanted to generate income, have some flexibility, and build something that felt like my own.
ATO debt is something I’m having more and more conversations about at the moment, and what’s becoming really clear is that the way businesses have managed it in the past simply doesn’t stack up in today’s environment.
There’s always been a level of comfort around ATO debt. Unlike a bank chasing you, it doesn’t feel as urgent as a supplier, and for a long time, it was something that could be managed fairly easily in the background. What I’m seeing now, however, is that this mindset is starting to catch people out.
Divorce Has a Way of Resetting Just About Everything: your routines. your weekends, your Netflix password, and of course, your finances. Once the dust settles and the lawyers stop sending emails, many people find themselves holding a lump sum and wondering what on earth to do with it. Buy a place? Invest it? Leave it in the bank until your brain stops spinning?
When you first start a business, it’s easy to believe that success means scaling up. The message is everywhere “grow your team,” “expand your office,” “chase the next level.” What a lot of new business owners don’t realise is that bigger isn’t always better.
When your business starts to grow it’s exciting! The phones ring, new clients are coming on board, and often there is a sense of momentum that feels unstoppable. WARNING! rapid growth without proper control quickly turns into overwhelm. What should feel like success quickly turns into utter chaos.
The ATO has been handed extra funding in this year’s Federal Budget, which means they have more resources than ever to zero in on small business compliance!
Let’s unpack the ATO’s focus areas for this year and the simple steps you can take to stay ahead…
To most people, financial stress = bills, bills, more bills and tax. In reality, a cyber security breach can be far more damaging than any tax bill. Not only could you lose huge sums of money while wasting a significant amount of time, but you could even put your identity or your business reputation at risk.
At Freshwater, we are an online-first firm. Everything we do is digital; from signing documents to lodging returns to storing your financial history. We take protecting your information very seriously.
When you grow without a plan, here’s what usually happens:
You hire staff in desperation, throwing large workloads at them immediately and hoping they’ll cope.
You spend more money on wages, overheads, and tools, without fully mapping out how those costs will be covered.
You take on more clients, meaning you either stretch your own time thin or trust more people with your customers directly..
It was 28 June, the final business day of the financial year.
Tom and Lisa sat in their solicitor’s office, signing the last of the papers to sell their family home. Their divorce had been messy and emotional, and both just wanted it over. The property settled that afternoon, the money hit their accounts, and they each walked away thinking the worst was finally behind them.
If you’re reading this, chances are your business is growing and you may be wondering: Should I stick with being a sole trader, or is it time for something bigger, bolder, and a bit more “grown up”?
Here’s my unfiltered take, with practical cues for both sides of the fence.
I never expected to see financial abuse firsthand in my professional life, but I have, more than once. These experiences remind me that financial abuse isn’t just a theoretical risk; it’s a lived reality for many people, often hidden behind closed doors and polite conversations. For me, as someone privileged to be an advisor for you, my clients, recognising and discussing these warning signs is a responsibility I take seriously.
Important Note: During our peak season from July to October, we prioritise maintaining our signature high-quality service. As a result, we may not always be able to take on new clients, however we’re happy to add you to our waitlist.