One of the most common questions we hear at this time of year is: “Why is my outcome so different from last year?” Sometimes it’s a pleasant surprise. Sometimes it’s very much not. If you’ve received roughly the same outcome for the past few years, it’s easy to assume that’s what you’re supposed to get…
One thing I’ve noticed consistently over the years is that the clients who have the best experience with Freshwater usually have a genuine interest in their tax affairs. They don’t need to understand every piece of tax legislation, but they do like to know what’s happening, why we’re asking certain questions, how their tax position works, and where they’re heading financially.
One of the hardest things in business and in life is to stop. To pause the constant motion, the comparisons and the striving, and simply allow yourself to breathe.
Everywhere you look, someone seems to be doing more. Someone is buying another property. Someone is hiring new staff or talking about scaling to seven figures. It is easy to wonder if you should be doing the same. The truth is that every situation is different. What works beautifully for one person may not work for another.
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.
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.