ATO warns about barter credit tax scheme
The ATO is warning the community to steer clear of an emerging tax scheme involving barter credits — a type of alternative currency used in some business networks. A tax scheme that involves artificially inflating deductions for donations of barter credits to deductible gift recipients (‘DGRs’) is on the rise. While it may seem enticing, […]
Australians call out tax dodgers in record numbers
The ATO has hit a major milestone of over 300,000 tip-offs from the community about tax avoidance and other dishonest behaviours since 1 July 2019. In the 2024/25 financial year alone, almost 50,000 red flags were raised by members of the community who spotted something suspicious. Most of the tip-offs received related to shadow economy […]
Dental expenses are private expenses
The ATO has been seeing a number of deduction claims for dental expenses this tax time. Dental expenses, including preventative and necessary dental treatment, medical expenses and other costs relating to client’s personal appearance (such as teeth whitening, makeup, skin care, shaving products and haircuts) are not deductible. These expenses are generally private expenses, even […]
Alternative providers to the SBSCH
Employers should start preparing for the permanent closure of the Small Business Superannuation Clearing House (‘SBSCH’) on 1 July 2026. By acting now to find an alternative service, employers will: have an established process in place to pay super guarantee (‘SG’) for the March and June quarters (if they currently pay quarterly); reduce the risk […]
ATO’s new approach to holiday home expenses
The ATO has announced that it will take a somewhat different approach in relation to expenses that are claimed in relation to holiday homes. Broadly, the ATO now takes the view that, if a taxpayer’s rental property is also their holiday home, certain deductions relating to holding it will be completely denied (rather than being […]
Why flexible working is the new normal
“Gone are the days when flexible work was a perk. Whether it’s hybrid roles, remote options, or custom hours, flexibility has become a baseline expectation.” – Recruitment Trends for SMEs by Onside. The pandemic may have introduced us to the idea of working from home, but the ability to flex where we work from is […]
Getting late payments under control
“63% of Australian businesses say they are losing money – some even reporting estimated losses of over $10,000 per month on average – to late payments.”Pursuing Payments 2025 report, GoCardless This recent report from the bank payment provider, GoCardless, shows just how challenging late payments can be for Australian small businesses. “68% of all respondents […]
5 challenges for small business – and how to beat them!
Starting, building and growing your own small business is a hugely rewarding experience for many entrepreneurs. But the road ahead isn’t always smooth. There are common challenges that crop up and ongoing issues that need to be factored into your business plan, your strategy and your own personal thinking. So, what can you do to […]
How an accountant supports your business: 5 key areas of focus
Your accountant just does your annual accounts and tax return, right? Wrong! A good accountant is in touch with you and your business throughout the financial year, checking in, finding out where they can help and offering solid, practical advice. Here are five areas of your financial management where talking regularly to your accountant is […]
Your 101 guide to Environmental, Social and Governance (ESG)
Whatever kind of business you own and run, your operations will have some form of environmental and social impact on the land and communities around you. Being a good business owner means being aware of this impact and putting structures in place to minimise the negative outcomes. This is where Environmental, Social and Governance (ESG) […]