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13 Years of Freshwater Tax: What I’ve Learned

With the end of the financial year (EOFY) 2025 approaching, I’ve been reflecting on how far Freshwater Taxation has come since its launch back in 2012. What began as a solo venture has grown into an award-winning firm I’m proud of — though it’s been far from easy. Being a single mum, raising two young girls, and running a busy accounting firm (in one of the busiest industries you could choose!) has stretched me in ways I never imagined. There’s been joy, exhaustion, growth, tears, and plenty of late nights. But there have also been hard-won lessons that I know will resonate with anyone trying to balance business, parenting, and life.

Tax and Property: Getting It Right from Day One

Investing in property is about more than just picking the right house in the right suburb. To truly maximise your returns and avoid costly mistakes, you need to understand how property ownership works from a tax and legal perspective. The choices you make at the beginning—like whose name goes on the title, how you handle expenses, and what you can claim—can have long-term impacts on your wealth and cash flow. In this blog post, we break down the key things every smart investor should consider before signing on the dotted line.

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Changes to Superannuation Guarantee (SG) Contributions: What You Need to Know

In the 2023-24 Federal Budget, the Government announced some significant changes to Superannuation Guarantee (SG) payments. While we’re still waiting on final legislative and administrative details, here’s a sneak peek at what we know so far…

The ATO is Cracking Down: Smart Strategies for Businesses and Property Owners

The ATO is really stepping up its game, taking a much tougher stance on unpaid tax debts and keeping a close eye on property transactions. This crackdown is having a big impact on small and medium-sized businesses (SMEs) and property owners, who now face stricter regulations and need to be extra diligent about their tax obligations.

Meeting Expenses / Coffee / Food / Alcohol – Tax Deductible?

Is that client coffee deductible? What about the lunch meeting at a restaurant or the bottle of wine you gifted as a thank-you? The ATO have specific rules regarding what’s considered a deductible expense and what falls under the category of entertainment, which can get a bit tricky…

Why Keeping a Logbook for Your Car is a MUST…

What we have been noticing here at Freshwater are that lots of clients are tracking their car costs, BUT not necessarily keeping the appropriate records / receipts not a log-book.

When it comes to claiming motor vehicle expenses, maintaining accurate records is KEY. One of the most effective ways to do this is by using a logbook.

Bookkeeper vs. Accountant: Why you need BOTH

When it comes to managing your business finances, you might think a bookkeeper and an accountant are interchangeable. However, each has a unique role in keeping your business on track – and, trust us, you need both!

While accountants often get the spotlight, it’s the bookkeepers who work tirelessly behind the scenes, providing the essential groundwork for your business’s financial success. In this blog post, we cover the difference between these two roles and why in our opinion, solid bookkeeping is the backbone of any successful small business.

How Tracking Categories can Transform your Business

One of Xero’s many standout features is the ability to use tracking categories. Tracking categories can provide SIGNIFICANT benefits to your business, ultimately enhancing your financial management, decision-making processes and profitability.

Note: Tracking categories are not just unique to Xero, plenty of other online bookkeeping software have this capability including: MYOB, Quickbooks Online, Zoho Books, Sage Business Cloud Accounting, and Wave.

What we do here at Freshwater

I’m Sarah Clayton, the director of Freshwater Tax, and I’m so excited to share a little bit about what we do here. Freshwater Tax is more than just an accounting firm—we’re a team that’s genuinely passionate about helping you feel confident and empowered in your financial journey, regardless of if you’re an individual, a business owner, or just starting out on your entrepreneurial adventure. Here’s a peek into the key services we offer and why we absolutely love doing what we do…

Hot Desk Expenses: Are They Tax Deductible? Here’s What You Need to Know!

Hot desking is like the casual dating of office setups—you show up, use a desk when you need it, and leave without any long-term commitment. It’s flexible, cost-effective, and perfect for freelancers, remote workers, and anyone tired of the traditional office grind. But can you actually claim your hot desk expenses on your tax return? Let’s break it down…

The Key Challenges Faced by Accountants Today

The accounting landscape in Australia is going through a major glow-up—whether we like it or not. From ever-changing client expectations (because, of course, everyone wants to maximise their refund!) to the constant technological upgrades that seem more like level-ups in a video game, us accountants are juggling more than just numbers these days. Add in the regulatory roller coaster and the struggle to find qualified staff: the struggle is real!