2025 has been a year of sharper thinking and smarter decisions.
With increased ATO funding and audit activity on the rise, our clients are more focused than ever on getting things right the first time. Add in a tightening economy, rising living costs, and ongoing pressure on both households and businesses, and it’s only natural that business owners and investors are paying closer attention to how they structure, plan and grow.
This year, the conversations have shifted. Clients aren’t just asking how to stay compliant, they’re asking how to build wealth intelligently, protect themselves, and still maintain a lifestyle that actually feels sustainable.
I love this shift! It’s intentional. It’s strategic. It’s long-term thinking, not panic.
Here are the 10 questions I was asked more than any others in 2025… and the answers that mattered most.
1) “Can I manage my bookkeeping myself?”
Some people can, but very few people should. I’ve rarely seen a “non-bookkeeper” actually save money overall by doing their books themselves.
DIY bookkeeping only works when you genuinely understand GST rules, code consistently, and keep personal spending out of your business. What actually happens in most cases is that people fall behind, guess their way through the coding, lodge BAS statements that don’t reflect reality, and spend the next year wondering why their accountant keeps asking for clarifications.
You don’t need to be a bookkeeper. Your job is to run your business, serve your clients, and make money, not reconcile bank feeds at midnight.
And then there’s offshoring. Clients often assume they’ll save money by hiring someone overseas to “just do the basics,” but the reality is that overseas bookkeepers rarely understand Australian tax law, GST treatment, superannuation rules, payroll requirements, or how the ATO expects things to be recorded. Most of the messy, inconsistent, or completely incorrect files I see have been touched by offshore bookkeepers who simply aren’t trained in our system. What ends up happening? You pay twice: once for the offshore service, and again for the clean-up.
2) “I’ve received a large sum of money. What do I do with it?”
Whether it’s from a divorce settlement, an inheritance, or the sale of employee shares, receiving a lump sum is one of the most significant financial moments in a person’s life. It can create enormous opportunity — but it can also disappear far more quickly than people expect. Most of us don’t get a second chance at managing a windfall well, which is why the decisions you make in the first few months matter so much.
If you do receive a large cash injection, the very first step is to speak to both an accountant and a financial planner. Each plays a different role. Accountants aren’t licensed to tell you exactly which investment product to choose — but we are licensed (and experienced) in helping you structure things correctly, protect the money, and minimise unnecessary tax. A financial planner can then help you decide where the money goes in terms of actual investment choices.
For some people, the smartest move is establishing a family trust that allows investment income to be shared across the family group in a tax-effective way. For others, the priority might be reducing high-interest debt, contributing more to super, or purchasing a well-positioned investment property — perhaps even a property that’s negatively geared in the short term but sits in a strong long-term growth area.
There’s no one “right” answer because lump sums are deeply personal. The best strategy for you depends on your age, your lifestyle, your financial habits, your risk tolerance, and the future you want to build. What matters most is making intentional decisions rather than emotional ones — and surrounding yourself with the right people to guide you through them.
3) “Can I link my personal credit card to my bookkeeping file? I get great points!”
I know, the points are tempting. Yes, they add up. However… linking a personal credit card to your bookkeeping software is one of the fastest ways to muddy your records, inflate your bookkeeping fees, and increase your audit risk.
Once that personal card feed is connected, your file becomes a maze of groceries, petrol, kids’ expenses, coffees, random purchases and the occasional business transaction buried somewhere in between. Your accountant ends up spending hours separating what’s personal from what’s deductible, and the ATO would struggle to follow the trail. The points simply aren’t worth the administrative chaos.
That said, I fully understand that life isn’t always neatly divided, and sometimes a personal card does need to be used for business. If that’s the case, there are far cleaner ways to manage it:
- One option is to let your accountant set up a simple recurring journal each month to capture legitimate business expenses paid personally. This keeps the bookkeeping clean without dragging your personal life into Xero.
- Another option is to tell us whenever a business expense goes through your personal card so we can record it properly on our end — no feed required, no mess created.
- If you genuinely incur a lot of business expenses on that card, then the cleanest solution may be to use it exclusively for business costs. You still get your points, and the bookkeeping stays tidy because there are no personal transactions mixed in.
4) “My employee shares and RSUs are about to vest. How do I plan for this?”
This came up constantly this year, especially with clients in tech and finance. RSUs are among the most misunderstood areas of Australian tax, and most people are shocked to learn they’re taxed at vesting, not when they’re sold. That means the moment those shares vest, the value is added to your taxable income, even if you haven’t sold anything.
This often pushes people into a higher tax bracket; the employer withholding is rarely enough, and a surprise tax bill lands months later. As your accountant, I help map out your vesting dates, estimate how much income will hit your tax return, and work out the top-up tax you’ll need to set aside so you’re not caught off-guard.
There’s also a broader strategy piece to consider, and this is where accountants and financial planners work side by side. Some clients choose to sell a portion of their vested shares to cover tax or reduce risk. Others hold for longer-term reasons. Many do a mix. I can help you understand the tax implications of each approach, and a licensed financial planner can help you decide what’s best for you from an investment perspective.
Handled well, RSUs can genuinely accelerate your wealth. Handled poorly, they can create an unexpected tax bill and a lot of stress. The key is going into vesting season informed, prepared, and supported.
5) “I’ve received a PAYG instalment notice — why?!”
This question kept popping up in my inbox all year long. The reaction is always the same: confusion, panic, frustration, especially because most people don’t realise what actually triggers PAYG instalments in the first place.
PAYG instalments aren’t a punishment. They’re simply the ATO’s way of saying: “Based on last year’s return, you’re likely to owe tax again — so we want you to pay it gradually instead of all at once.” The system looks at how much tax you paid last year beyond what was already withheld, and if it thinks you’ll be in a similar position again, it automatically sets up instalments for the following year.
The catch? The ATO’s calculation is incredibly blunt. It doesn’t know if your business has slowed down, if you’ve changed jobs, if you’ve restructured, if your investments have dropped, or if last year was a one-off because of a bonus, a capital gain, vested RSUs or a property sale. It simply projects last year forward — even when it makes no sense to do so.
The ATO is estimating your future based only on your past. The good news is that you are not stuck with the amount. If your income has dropped, your business is quieter, your job has changed, or you simply know last year was an anomaly, you can vary your instalments down to something reasonable. Varying down, when done correctly, does not trigger a review or cause any issues.
6) “I’ve received a Division 293 notice. Why, and what now?”
Division 293 is one of those topics that catches people completely off guard. Most clients assume it means they’ve gone over their super cap or done something wrong. In reality, it’s neither.
Division 293 is an extra 15% tax on your before-tax (concessional) super contributions when your income is high. In simple terms, once your income plus those concessional contributions goes over $250,000 for the year, the ATO reduces the tax break on those contributions. Instead of being taxed at 15% inside your super fund, they’re effectively taxed at 30%. When this happens, the ATO will send you a Division 293 notice showing the calculation and the extra tax payable.
You then have two choices: pay it yourself or have the amount released from your super. Both options are perfectly acceptable. It just comes down to what works better for your cash flow.
The important thing is that Division 293 isn’t a penalty, and it doesn’t mean you’ve broken the rules. It simply means that, for that particular year, your income was high enough that the government has wound back some of the tax concession on your super contributions. Once you understand why it’s happened, it becomes something you can plan around, rather than a scary letter in your myGov inbox.
7) Will I save tax by setting up a Family Trust?
Sometimes, yes – but only when it’s genuinely the right structure for your situation.
There is a massive misconception that anyone can set up a family trust, route their salary or business income into it, and suddenly “save tax” by streaming income to other people. It simply doesn’t work like that. A trust needs legitimate beneficiaries who actually receive distributions, meaning people in your family group who are in lower tax brackets and can legally and appropriately receive income. If you don’t have anyone to distribute to, or if everyone in your family already earns a similar amount, the trust offers little to no tax advantage.
Trusts also don’t magically reduce tax on wages. Your employer can’t “pay your salary into a trust” to create lower tax outcomes. A trust works best when it holds investments, when income will grow over time, and when there is genuine flexibility in who can receive that income.
In many cases, particularly for business owners, a company can offer better tax outcomes and simpler administration. Companies offer capped tax rates and a clean separation between business assets, personal assets, and long-term wealth-building; often without the ongoing distribution requirements that trusts entail.
Where family trusts shine is in long-term wealth strategies: holding investment portfolios, receiving passive income, managing risk, and giving families more control over how income is shared year to year. When used correctly, they can be an incredible tool. However, when used for the wrong reasons, they become nothing more than unnecessary complexity (and cost).
A trust is a strategy, not a shortcut, and definitely not a trend. The structure needs to match your life, your goals and the people around you.
8) “How do I minimise potential Capital Gains Tax?”
This year, so many clients had property sales, share disposals and crypto gains to manage. The biggest realisation for most people was that CGT planning has to happen early. Once a sale has already settled, your options narrow dramatically. The most meaningful outcomes come from the decisions made before you sell, not after the gain has already crystallised.
A large part of managing CGT comes down to knowing your numbers and getting your records right. A clear, accurate cost base makes a huge difference. So does understanding whether you can access the 12-month CGT discount, and how that timing interacts with the rest of your income for the year. Sometimes the smartest move is delaying a sale to fall into a lower-income year; other times, bringing a transaction forward makes more sense. These are simple decisions, but incredibly effective.
Another misconception is that the gain itself automatically gives you more room to contribute to your super; it doesn’t! The standard contribution caps still apply, unless you qualify for the very specific small-business CGT concessions, which most investors don’t. Super can still be part of the strategy, but only in ways that fit your situation and the rules.
In short, CGT minimisation isn’t about loopholes or after-the-fact fixes. It’s about knowing the landscape, planning ahead, and making calm, intentional decisions. With the right approach, CGT becomes something you manage confidently, not something you fear when tax time rolls around.
9) “How can I be MORE profitable but work LESS?”
This has been one of the most honest and important conversations of 2025. In almost every case, the issue hasn’t been the business owner; it’s been the business model they’re trying to operate within. So many clients are exhausted, not because they’re doing anything wrong, but because the structure of their business is quietly working against them.
The patterns are incredibly consistent: undercharging, paper-thin margins, unplanned spending, and bookkeeping that isn’t kept up to date, leaving my clients flying blind. Most are relying on one or two bank accounts for everything, which makes it almost impossible to set money aside for BAS, super, tax and true profit. Many aren’t leveraging automation, and their systems are a patchwork of manual processes held together by habit. Beneath all of this sits a very real fear of change — fear of letting go of non-performing staff, fear of tightening boundaries, and fear of overhauling familiar systems even when they’re no longer serving them.
I’ve also seen countless business owners burn themselves out serving clients who don’t value them, simply because they’ve never stopped to define exactly who their business is built for.
Once structure is put around finances, everything shifts. Clear bank account “buckets”, clean data, accurate margins, correct pricing, automation and rhythm. As soon as these foundations are in place, the chaos settles, cash flow becomes predictable, and profitability increases without adding more work.
These business owners were never bad with money or bad at running a business. They were drowning in work without the right systems supporting them. When the foundations are correct, working less and earning more stops being a dream — and becomes the natural outcome.
10) “What should I be mindful of in my tax return this year, given the extra ATO funding?”
This has been, without doubt, the most asked question of 2025. People are far more audit-aware than they’ve been in years, and with good reason. The ATO has received significant additional funding, and they are using it. Their data-matching systems have become sharper, their reviews are more targeted, and they are casting a much wider net.
The focus areas have been very consistent. Work-related deductions (especially anything that looks estimated), rental property claims, interest deductions, repairs vs improvements, trust distributions, GST reporting, crypto transactions, employee share schemes and overseas income have all been under tighter scrutiny. I’ve personally seen more letters, risk reviews and “please explain” notices than in any other year of my career, not because clients are doing anything wrong, but because the ATO is simply checking more.
The best defence is surprisingly simple: clean records, clear separation between personal and business spending, proper documentation for everything you’re claiming, and avoiding guesswork. If you claim a deduction, make sure you can support it. If you have a rental property, keep every document. If you use a logbook, keep it up to date. And if you have shares, RSUs or crypto, ensure the data is accurate and complete before you lodge.
The final piece is timing. Rushing a return at the last minute increases the chance of mistakes, and mistakes are exactly what trigger reviews. A clean, well-prepared return is your greatest protection. When everything is accurate, supported and aligned with the rules, an ATO review becomes nothing more than a minor inconvenience rather than a stressful experience.
Conclusion
If 2025 had a theme, it would be clarity. This year, my clients have asked smarter questions, made braver decisions, and taken a genuine interest in understanding the “why” behind their finances. It’s been refreshing to see people shift from reacting to their tax to actually taking control.
What these ten questions show is that when you plan ahead, keep your records clean, and choose the right structures, everything becomes easier. Stress drops. Cash flow steadies. Opportunities open up. You start building a business and financial life that actually supports the lifestyle you want, not one that drains you.
Tax doesn’t need to feel heavy or overwhelming. With the right guidance, it becomes clear, manageable and even empowering. Here’s to more confidence, more clarity and more clever decisions in 2026, the kind that make your life feel lighter, not harder!
