Running a family business or building wealth through investments comes with its own tax challenges and opportunities. The ATO is watching these areas more closely than ever, but there are still plenty of legitimate ways to structure your affairs to minimise tax – you just need to know the rules and play by them. What’s … Read more
For small and micro business owners, keeping on top of your Fringe Benefits Tax (FBT) obligations isn’t just about ticking a box—it’s a crucial strategy to limit your future audit risks and secure your business’s financial health. Even if you believe your FBT liability is nil, lodging an FBT return can protect you from the … Read more
The Federal Budget 2025-26 has arrived with a range of promises—tax cuts, energy bill relief, and measures aimed at boosting the economy. But not everything made it across the line. A key small-business measure, the $20,000 instant asset write-off, remains stalled in Parliament, leaving many entrepreneurs unsure about their next move. In this post, we’ll … Read more
The Full Federal Court has ruled in Commissioner of Taxation v Bendel [2025] FCAFC 15, confirming that unpaid present entitlements (UPEs) owed to corporate beneficiaries are not loans for Division 7A purposes. This decision has significant implications for trust structures and tax planning, potentially overturning the ATO’s long-standing position. What Was the Issue? Since December … Read more
The festive season brings both opportunities and challenges for small business owners. While the cost of living has slightly eased, many households are still feeling the pinch. For businesses, the key to navigating this period is careful planning and strategic decision-making. Here’s how you can manage the volatility and make the most of the Christmas … Read more
When trading in an old car to purchase a new one, it’s crucial to understand the tax implications. Here’s a comprehensive guide for small business owners considering non-fuel efficient, fuel-efficient, and electric vehicles, including options like utes with specific towing capacities. Tax Implications Overview Below is a table summarizing the key differences in tax implications … Read more
In the dynamic world of small business, managing your cash flow effectively is not just a good practice – it’s essential for survival and growth. Understanding and implementing cash flow forecasting can be the compass that guides your business through uncertain financial seas. But what exactly is cash flow forecasting, and how can it transform … Read more
Hello small business champions! The festive season is knocking on our doors, and it’s time to think about the Christmas party. You want to be the boss who hosts a bash that’s talked about well into the New Year, right? But here’s the catch: you want to do it smartly, without getting lost in a … Read more
Discover the essentials of GST on food products for small businesses in Australia. Learn about the latest rulings and classifications in a simplified guide, ensuring your business stays compliant and informed.
Navigating the landscape of self-education expenses can be challenging, especially when trying to determine what is deductible on your tax return. The Australian Taxation Office (ATO) has provided guidelines on this subject, and in this article, we’ll break it down for you. 1. Basic Principle: Relevance to Current Employment If your studies relate directly to … Read more
