There is no fixed formula for a small business owner salary, because it depends on your business structure, profitability and personal financial needs. Sole traders take drawings rather than a wage, while company directors can choose a combination of salary, dividends and superannuation. The right amount balances what the business can genuinely afford with what […]

If you are asking what can I claim on tax as a business owner, the short answer is most expenses that are genuinely and directly related to running your business, from vehicle and home office costs to insurance, marketing and professional fees. The deciding element is whether the expense was for business use rather than […]

The right time to change from a sole trader to company is usually when your profits are growing beyond what personal tax rates make efficient, when you need stronger asset protection, or when you are taking on more risk through staff, contracts or growth plans. There is no single trigger, but through a combination of […]

New Anti-Money Laundering and Counter-Terrorism Financing laws will now apply to certain services provided by accountants, including services involving the creation, structuring or restructuring of companies, trusts, Self Managed Superfunds, partnerships and other legal arrangements. AUSTRAC has confirmed that businesses providing these professional designated services will need to comply with AML...

Payday Super has now commenced, bringing an important change to the way Australian employers pay superannuation for their employees. From 1 July 2026, employers are required to pay Superannuation Guarantee (SG) contributions for each payday, rather than relying on the previous quarterly payment cycle. For business owners, this means superannuation needs to become a regular […]

The 2026–27 Federal Budget introduces major tax and business reforms that will affect individuals, investors, business owners, trusts, and employers over the next several years. Many changes begin from 1 July 2026, 1 July 2027, or 1 July 2028. Capital Gains Tax (CGT) Changes From 1 July 2027: Business owners and investors may face significantly […]

On 1 March 2021, the ATO released the long-awaited Draft Practical Compliance Guideline PCG 2021/D2 Allocation of Professional Firm Profits. Once finalised, the new Guideline will replace the “old” guidelines that were suspended in December 2017.