Audit Obligations for Large Reporting Entities: What CFOs and Directors Need to Know
A leading Australian company was recently fined $168,000 by ASIC for failing to lodge audited financial reports—because they misunderstood their obligations under the Corporations Act. Sound like an edge case? It’s not. In fact, we’re seeing it more often than you’d think. As businesses scale—adding revenue, expanding teams, or taking on new investors—many quietly cross […]
Business Accounting for the Australian Film Industry: A 2025 Guide for Producers and Creatives
In an era of international streaming wars, rising production costs, and shifting trade policies—including Trump’s revived U.S. tariffs—the Australian film industry continues to be a global standout.
Unpacking the Proposed “$3 Million” Super Tax
What High-Balance Members Need to Know As the 2024–25 financial year draws to a close, superannuants with large balances face a pivotal change. The March 2025 Budget introduced Division 296: a proposal to impose an additional 15 per cent tax on the portion of fund earnings attributable to Total Super Balances (TSB) above $3 million. Although the legislation […]
The Importance of Early and Proactive Tax Planning for Business Owners
For business owners, preparing for tax time often evokes a sense of stress and urgency. Many find themselves scrambling in June to gather receipts, organise financial documents, and meet compliance deadlines. But what if tax season didn’t have to be frantic? What if, instead of reacting to tax obligations, you could strategically plan ahead to […]
Stay Ahead: Key Takeaways from the 2025-26 Federal Budget
The 2025–26 Federal Budget handed down on 13 May 2025 reflects a combination of fiscal restraint and targeted support measures, with a strong emphasis on cost-of-living relief, housing, health and aged care, and the transition to a net zero economy. Here’s a summary of the key announcements. For the full report click here. Personal Taxation The […]
Selling Your Business? Key Financial Steps to Prepare
Selling a business is more than a financial decision—it’s an emotional journey. Whether you’re stepping away after years of hard work, pursuing new opportunities, or planning for retirement, the process of selling requires careful preparation to ensure you achieve your desired outcome. Regardless of the reasons behind the sale or the success of the business, […]
Do You Need a Tax Accountant? Key Benefits for High-Income Earners and Business Owners
For high-net-worth professionals and business owners, navigating Australia’s complex tax landscape can feel like solving an intricate puzzle. Between ever-changing regulations and the demands of managing wealth or running a business, the risks of missed opportunities or compliance issues are high. While some attempt to tackle taxes alone, the guidance of a professional tax accountant […]
Federal Budget Summary May 2024
The 2024-25 Federal Budget, presented by Treasurer Dr. Jim Chalmers, described as a responsible and supportive approach, forecasts a second consecutive surplus of $9.3 billion. Here are key highlights for business owners and individuals. For more information, download our May 2024 Federal Budget Summary. For business owners: The $20,000 instant asset write-off for small businesses […]
ATO has THREE key areas for focus for the 2022-23 tax year
The ATO has announced it has three key focus areas for 2023 tax returns. These include: 1: Rental property deductionsThe ATO will take particular interest in rental property owners correctly apportioning loan interest expenses where part of the loan was used for private purposes or the loan was refinanced with some private purpose. Learn more […]
Federal Budget May 2023
Below are Federal Budget highlights for business owners and individuals. For further details, please click the button below to download our May 2023 Federal Budget Summary document. For Business $20,000 instant asset write-off for 2023-24 Additional deductions for small business for electrification and energy efficiency FBT exemption for eligible plug-in hybrid EVs ends 1 April 2025 Accelerated deductions and reduced […]
Federal Budget October 2022
Last night, Federal Treasurer Jim Chalmers handed down his first Labor Government Federal Budget, which primarily delivered on key election commitments in childcare, aged care, university and vocational education places and lowering prescription costs. Below is a quick overview of highlights for business owners and individuals, as well as a link to download our full Federal Budget October […]
Cybersecurity – extra caution advised
Business owners are advised to take extra security precautions in the lead up to the end of financial year, as cybercriminals are increasingly targeting businesses with email scams. Businesses may also face extra steps to receive GST refunds as extra controls are put in place to combat a growing number of GST refund fraud attempts. […]