Being a company director comes with real legal responsibilities — and one of the most important (and often misunderstood) is your personal liability for PAYG withholding, GST and superannuation. If your company falls behind on these ATO obligations, you might receive...

When it comes to ATO record-keeping rules, most business owners fall into one of two camps: the ones who keep every scrap of paper “just in case,” and the ones who cross their fingers and hope their accounting software is doing all the heavy lifting. The truth sits...

Accounting can sometimes feel like a foreign language, full of technical terms and acronyms. But understanding the basics can make managing your business a lot easier — and helps you have more meaningful conversations with your accountant. Here’s a handy glossary of...

As a business owner, selling your business is the final step in a long journey. It’s not just a financial transaction—it’s often the point where years of work are converted into retirement savings, investment funds, or simply the freedom to move on. But one thing that...

One of the most common traps for small business owners is mixing personal spending with business money. While it might seem harmless to pay a personal bill from the company account or dip into business funds when cash is tight at home, doing so can create messy...

As the festive season approaches, many Australian businesses start planning Christmas parties and end-of-year rewards for staff. While it’s a great time to show appreciation, it's important to understand the Fringe Benefits Tax (FBT) implications—especially when it...

No one wants to get a call (or letter) from the Australian Taxation Office (ATO) saying they’re under review. While most small businesses do the right thing, the ATO uses advanced data-matching and analytics to identify tax returns that don’t quite add up. Here are...

Falling behind on tax or BAS payments can happen to any business — especially when cash flow is tight. In the past, the ATO was more flexible in allowing payment plans to be set up. But recently, it’s become noticeably harder to arrange them, and the conditions can be...

Renting out a room or property through Airbnb or other short-term platforms can be a great way to earn extra income—but it also comes with tax obligations. The Australian Taxation Office (ATO) has ramped up its data-matching capabilities and is closely monitoring...

Many business owners are puzzled when their accountant tells them they’ve made a profit, but their bank account tells a different story. If you’ve ever asked, “Where did the money go?”, you’re not alone. The answer lies in the key difference between profit and cash...