Budget Questions – Small Business If your private company has ever lent money to you personally – or to a family member, a related trust, or another entity you control – there’s a good chance Division 7A applies to you. With 30 June approaching fast, now is exactly the right time to check you haven’t …
Budget Questions – Small Business Important note: This guide is general information only. Some Budget measures are proposed and may change before they become law. Clients should obtain tailored tax advice before making business, investment or structure decisions. Below are plain-English answers to common small business questions following the Federal Budget 2026-27 announcements. Is the …
Budget Questions Below is a simplified overview of some of the most commonly Googled accounting and tax questions following the Australian Federal Budget 2026-27 announcements. These measures are currently proposed reforms and legislation may still change before implementation. Is negative gearing being abolished? Not entirely. Under the proposed reforms, negative gearing would generally be limited …
Payday Super – Your Employer Checklist One of the biggest changes to hit Australian payroll in a generation is now less than two months away. From 1 July 2026, employers must pay superannuation contributions on payday – within seven business days of each wage payment – rather than quarterly. If your payroll systems, processes, and …
Fringe Benefits Tax (FBT) The fringe benefits tax year runs from 1 April to 31 March – and if your business provided any non-cash benefits to employees or their family members during that period, an FBT return may be due. The lodgement deadline is 21 May, so now is the time to check whether this …
Preparing For EOFY The end of the financial year can sneak up on even the most organised business owners. With June 30 just around the corner, now is the time to get proactive about your business’s financial position, compliance obligations, and any strategic decisions that could benefit from being actioned before the year closes. Review …
Are You Accurately Reporting Cash Income? The ATO Is Watching Cash flow is the lifeblood of any small business. And for many businesses – particularly in hospitality, trades and personal services – that includes a mix of card and cash payments. From time to time, headlines hit the stands, reminding business owners not to “hide” …
Financial Fraud Through Coerced Directorships: Financial fraud perpetrated by abusive partners and family members has emerged as a deeply damaging form of economic abuse, particularly when victims are nominated as company directors without their knowledge or consent. These fraudulent appointments can expose unsuspecting individuals to significant financial and legal liabilities – long after the abusive relationship has ended. …
Fringe Benefits Tax (FBT) Fringe Benefits Tax (FBT) applies to most non-cash benefits provided to employees in addition to their salary or wages. For employers, understanding FBT is essential to stay compliant, avoid penalties, and manage the financial implications of providing benefits. What Is Fringe Benefits Tax? FBT is separate from income tax and is …
Keeping FBT Simple Fringe Benefits Tax (FBT) applies to most non-cash benefits provided to employees in addition to their salary or wages. For employers, understanding FBT is essential to stay compliant, avoid penalties, and manage the financial implications of providing benefits. What Is Fringe Benefits Tax? FBT is separate from income tax and is paid …
Christmas Parties and FBT As the year winds down, many businesses are preparing to celebrate with end-of-year parties, staff gifts, and client events. While these celebrations are a great way to recognise your team’s hard work, it’s important to understand the Fringe Benefits Tax (FBT) implications that can arise. Getting it wrong can lead to …
What to Prepare Before the 31 October Deadline If you haven’t yet lodged your tax return, you’re not alone. With the 31 October deadline fast approaching, now’s the time to get everything in order so you can lodge on time and avoid penalties. A little organisation in these final days can save you stress and …