Blog categorized as Guides

PAYG instalments are based on last year's income, so a genuine drop this year means overpaying — but varying the instalment down carries a real penalty risk if the estimate turns out to be significantly understated.

STP reporting is tied to each pay day itself, not a periodic deadline like BAS — and businesses often misjudge this because it feels like other, less time-sensitive obligations. This

The 5-year record retention rule sounds simple, but the clock starts from when you lodge the relevant return — not the transaction date — and some records (depreciating assets, CGT) need to be kept well beyond 5 years.

Business owners with irregular income are particularly likely to exceed a super contribution cap without realising, since multiple contribution sources can stack up unnoticed.

This offset is capped at $1,000 per person and calculated as a percentage of tax payable on business income — not a percentage of profit, which is the mistake that trips most people up.

Equity granted to employees isn't taxed like ordinary salary, and startups often assume any equity grant automatically qualifies for concessional treatment without checking the actual eligibility criteria.

The tax consequences of a business sale depend heavily on whether it's structured as a share sale or asset sale, and pre-sale restructuring can itself trigger unexpected tax events if not carefully planned.

Most government grants are assessable income by default, but specific programs can be legislated with different tax treatment — assuming either "automatically tax-free" or "automatically taxable" can lead to a real surprise at tax time.

Many commercial property owners never claim the full depreciation they're entitled to, simply because they don't have a proper schedule prepared by a quantity surveyor.

A business's first Australian tax season sets the compliance foundation for every year that follows, and international entrants often underestimate how differently registration, residency, and employment obligations work here.

Once combined income crosses a set threshold, an additional tax applies to concessional super contributions — and business owners drawing a mix of salary, dividends, and business income are more exposed than they often realise.

Tax obligations cluster at predictable points across the financial year, creating cash flow pressure that has nothing to do with profitability.

Many Australian businesses undertaking genuine technical problem-solving never realise they qualify for the R&D Tax Incentive, assuming it's only for labs and tech startups.

The tax consequences of selling or handing over a business depend heavily on timing and structure, not just the final deal. This guide covers the main succession pathways, how CGT concessions factor in, and why advance planning delivers far more options than a last-minute exit.

Consolidating a company group for tax purposes can simplify compliance and unlock benefits like loss offsetting, but the election is generally irrevocable and carries joint liability risk.

Realising a mistake after lodging a tax return is more common than most business owners think — and usually fixable, provided it's within the amendment period. This guide covers when amendments are possible, how the process works, and why acting early matters more than the mistake itself.

A tax bill you can't pay in full feels alarming, but the outcome depends almost entirely on how early you act. This guide covers what actually happens if payment is late, the ATO's payment plan options, and the steps to take before — not after — the deadline passes.

Tax season obligations differ significantly depending on whether you operate as a company, partnership/trust, or sole trader. This guide breaks down what each structure needs to prepare, watch out for, and lodge — with a practical checklist that applies across all three.

Tax may be boring, but smart use of tax planning is a superb way to help your company do more with your money.