Clayton 
Clayton has run Business Edge Advisors since 2013. The practice has been on the border since 1988, and he took it over with the same idea it started with: a business owner should be able to ring their accountant and get a straight answer.
Most of his week goes on trade and small business owners around Albury and Wodonga, working through the things that actually decide whether a year went well. What structure to be in, what to do before 30 June, and whether the numbers on the screen mean what the owner thinks they mean. He writes here about the questions that come up most often, in the same words he would use across the desk.
Registered Tax Agent 20651000. Level 1, 561 Olive Street, Albury NSW 2640.
For employers, incorrectly calculating wages is not portrayed as a mistake, it’s “wage theft.” Beyond the reputational issues of getting it wrong, the Fair Work Commission backs it up with fines of $9,390 per breach for a corporation. In 2021-22 alone, the Fair Work Ombudsman recovered $532 million in unpaid wages recovered for over 384,000 … Read more
In the ever-evolving business landscape, small businesses must continually adapt and innovate to remain competitive. Recognising the importance of digital adoption and skills development in driving business growth, the Australian Federal Parliament has introduced new tax incentives as part of the 2022-23 Budget. These incentives, known as the Small Business Technology Investment Boost and the … Read more
The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice to the booming industry. Back in October 2022, OnlyFans CEO Ami Gan announced that the platform had reached a milestone – paying out $10 billion … Read more
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of around $1 billion from incorrect reporting of rental property income and expenses. And, they would like that back … Read more
Ace in the Hole’ Budget 2023-24 The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and individual tax take. High commodity prices, inflation, and high employment have all pushed up corporate and individual tax receipts. … Read more
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. FBT exemption for electric cars If your employer provides you with the use of a car that is classified as a zero or low emissions vehicle there is … Read more
It’s hard to believe that it’s been 10 years since Clayton took over the business from Graham Fuller in 2013. Over the years, we’ve experienced our fair share of ups and downs, but through it all, we’ve remained dedicated to our vision and goals of helping small businesses succeed. We couldn’t have achieved this milestone … Read more
The ATO has indicated that starting from 22 March 2023 it will be imposing failure to lodge penalties on taxpayers who have not lodged a taxable payments annual report (TPAR) for the 2022 or prior years and they have received three non-lodgment letters. The TPAR is due by 28 August each year and includes details … Read more
A consultation paper released by Treasury has sparked a national debate about the role, purpose and access to superannuation ahead of the 2023-24 Federal Budget. What is the purpose of superannuation? At first glance, the consultation released by Treasury in February titled Legislating the objective of Superannuation sounds innocuous enough. The consultation seeks to anchor future policies … Read more
As a small business owner, you know that success doesn’t always come easily. You need to work hard, make smart decisions, and constantly adapt to changes in the market. But there’s another factor that’s just as important as all of these things: being in the right place at the right time. When you’re in the … Read more
