Getting ready before Tax Time
25 Apr

If your books are reconciled and clean then your tax accountant can review them BEFORE 30 June and then tailor a response to give you the best tax outcome. By May, a business will have a fair idea what their profit or loss will look like by 30 June. There are quite a few tax strategies your tax accountant can advise on with some of them requiring action before 30 June. For example any additional Superannuation that is paid needs to be received by the Superannuation fund before 30 June. If we can help get your financials in order to give your Tax Accountant greater clarity then contact us. Read More…

Instant Asset Writedown
25 Apr

Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or installed ready for use up to $20,000. As the instant asset write off expires this financial year, if you’re planning to buy business office equipment, tools or even vehicle upgrades, make sure they’re purchased and installed before the 30 June 2026 deadline. 

ATO Link
https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/depreciation-and-capital-expenses-and-allowances/simpler-depreciation-for-small-business/instant-asset-write-off?utm_source=nswgovt_business&utm_medium=email&utm_campaign=2026-04-22_sfmc_1945_april_business_multi&utm_content=01_instand_asset_write_off_aa&utm_term=instant_asset_write_off_link&j=687710&sfmc_sub=233373404&l=88_HTML&u=70765489&mid=524007053&jb=28006#ato-Eligibility Read More…

Countdown to Payday Super
25 Apr

Up until now Superannuation for employees  for most small business could be paid quarterly. The new law introducing Payday Super comes into effect on 1 July 2026. It means Superannuation needs to be paid when payroll is processed. So for a small business with a weekly pay this means 52 payments of Superannuation compared to just four quarterly payments This may create Cashflow Challenges and processes will need to be amended to ensure that the payment is processed easily. If the payment does not go through in time there may be penalties. For a simple overview here is an ATO video link https://tv.ato.gov.au/media/c-bd9wqof/bi9or7or3x5bw8 Read More…