Let’s talk business and personal expenses!
As a business owner, it’s common to have expenses that overlap between business and personal use. The tricky part is figuring out what portion is deductible. Done correctly, this can save you money at tax time. Done incorrectly, it can raise red flags with the tax office. Here are some detailed examples to guide you.
Clean up or catch up, what does your business need?
Not all bookkeeping problems are the same and the solution depends on your situation. Here’s how to tell which service fits your business best:
Your chart of accounts is the foundation of your bookkeeping!
Your chart of accounts is the foundation of your bookkeeping. It organises all your income, expenses, assets and liabilities into categories. When it’s set up properly, you get clear financial reports that make decision-making easier.
Simple Bill Pay Solutions for your Business!
Tired of scrambling to pay bills at the last minute? Or worse, getting hit with late fees that eat into your profits? Let’s fix that chaos once and for all. The secret is a simple and repeatable system. Choose two set days each month to focus on bill payments, such as the 1st and the […]
How to Find the Right Credit Card for your Business!
Business credit cards can be incredibly useful but only if you choose the right one. A business credit card should support your operations and financial goals. The right card can help you manage cash flow, earn rewards and simplify your business spending but not all cards offer the same benefits. Here are several key things […]
EBITDA and Net Income for Small Business Owners!
If you’ve ever looked at your financial reports and found yourself wondering what EBITDA and net income really mean, you’re not alone. These two terms show up often in financial statements, but they tell very different stories. EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. In simple terms, it gives you a picture […]
What is the ATO Looking at Closely this Financial Year?
As we kick off the new financial year, it’s more important than ever to make sure your business finances are in order. The Australian Taxation Office (ATO) has outlined several key focus areas for tax compliance and staying informed can help you avoid penalties and stay ahead. Here’s what the ATO is paying close attention […]
Running a Seasonal Business? This is What You Need to Know!
If your business has a busy season and a slower one, you know the financial highs and lows can feel intense. Whether you’re preparing for peak months or navigating the quieter times, good planning makes all the difference. Here are some financial tips to help you manage your seasonal cash flow and set your business […]
No More Tax Deductions for ATO Interest Charges: What it Means For You!
From 1 July 2025, a key change to Australia’s tax laws will take effect: you’ll no longer be able to claim a tax deduction for interest charges imposed by the ATO—specifically the General Interest Charge (GIC) and Shortfall Interest Charge (SIC). This change was passed by Parliament on 26 March 2025, and it could significantly impact how you manage any outstanding […]