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Business Tips, Ideas & Support Articles

Hidden cost of remote work
Accounting

What is Division 7A and How Does it Affect Your Tax?

If you’re a business owner operating through a company structure, understanding Division 7A of the Income Tax Assessment Act is critical. Why? Because using company funds for personal use (even accidentally) can trigger significant tax consequences and undermine your ability to scale. In this post, we’ll break down what Division 7A is, why it matters, and what you can do to stay compliant, avoid huge unexpected tax bills and protect your business’s future. What is Division 7A? Division 7A is a tax law designed to prevent private companies from making tax-free distributions of profits to shareholders (or their associates). If a

Inline Partners June 6, 2025
How to Increase Business Revenue
Business

How to Increase Business Revenue: Break Down the Right Formula for Your Business

When business owners say they want to grow, they usually want to know how to increase business revenue. And fair enough…it’s the headline number everyone pays attention to. But here’s where most go wrong: they treat revenue like a goal, when it’s really a result. You can’t improve revenue by staring at your sales report. You improve it by breaking it down and working the inputs that drive it. The revenue formula gives you clarity on what actually drives growth in your business. Once you know the levers to pull, you can stop guessing and start making smarter decisions. Below, we’ll

Inline Partners May 31, 2025
super tax on balances over $3 million
Superannuation

Proposed Super Tax Explained: 15% Tax on Balances Over $3 Million (Including Unrealised Gains)

Super Tax on Balances Over $3 Million: What You Need to Know A new super tax on balances over $3 million is in the spotlight — and it’s not just a concern for the ultra-wealthy. This proposal could change how we manage and protect long-term investments. What’s Happening? The Federal Government has introduced draft legislation to apply a 15% tax on super earnings over $3 million. What makes this unusual is that it includes unrealised gains – growth on assets you haven’t sold yet. If passed, the change would take effect from 1 July 2025, with the first tax assessments happening

Inline Partners May 22, 2025
Hidden cost of remote work
Accounting

Think the ATO Won’t Notice? Here’s the Hidden Cost of Compliance Slip-Ups

Let’s be honest – keeping up with compliance isn’t exactly the most exciting part of running a business. But ignoring it? That’s where the hidden cost of ATO compliance really kicks in – and it can hurt more than you realise. But it is one of the most important. And when it falls off the priority list? That’s where the real trouble starts. At Inline Partners, we’ve worked with hundreds of businesses navigating the ups and downs of growth – and this is something we see far too often: Superannuation isn’t paid on time (or sometimes not paid at all) Clients

Inline Partners May 13, 2025
When business and family mix
Advisory

When Business and Family Mix: How to Protect Both

Family business protection is something many family-owned businesses overlook…until it’s too late. Running a family business doesn’t just affect your bottom line; it impacts your family’s future, too. Every decision you make ripples through both your business and your personal life. It’s not just your career on the line – it’s your family’s livelihood, security, and future tied up in every decision you make. The wins feel bigger. The risks feel heavier. And the line between “business” and “personal” often feels blurry (if not invisible). At Inline Partners, we’ve worked with hundreds of family-owned businesses over the years, and one thing’s

Inline Partners May 6, 2025
Trust Distribition Resolution Australia
Advisory

Trust Distribution Resolutions: Why They Matter (and What Happens If You Miss the 30 June Deadline)

As we approach the end of the financial year in Australia, one task stands out for anyone using a trust structure: signing your Trust Distribution Resolution. This document determines how income is allocated from the trust – and if it’s not signed by 30 June, the ATO can tax the entire profit at the top marginal rate (up to 47%).   That’s a steep penalty for missing paperwork. Here’s what you need to know to stay compliant and protect your tax position. What Is a Trust Distribution Resolution in Australia?   A trust distribution resolution is a legal document that outlines

Inline Partners April 22, 2025
Accounting

7 Reasons You Need A Budget For The New Financial Year

The dawn of a new financial year presents an opportune moment to reassess and refine your financial strategies. As the new financial year approaches, the importance of having a well-structured budget cannot be overstated. Recent studies have shown that Australians under 30 are leading the way in financial discipline, with many saving more than $450 each month by cutting back on non-essential expenses. This trend highlights the growing awareness among younger generations about the necessity of prudent money management. Whether you’re a business owner or an individual, a comprehensive budget can be a powerful tool to navigate the ever-changing economic landscape,

Inline Partners July 23, 2024
Tax

EOFY is almost here: Brace Yourself for an ATO Clampdown

The end of financial year is almost here and there is little time left to get your affairs in order. This year, there are some tax changes likely to affect you whether you’re a business owner, a salaried employee, an investor, or a retiree. Here are a few key points to consider but remember that everyone’s situation is unique so always contact us directly for specific advice. Table of Contents For Individuals More scrutiny from the ATO The recent Federal Budget was a sign that fiscal restraint was not exactly on this government’s agenda and it is evident that a shift

Inline Partners June 14, 2023
Accounting

Electric Vehicles and Fringe Benefits Tax (FBT) Exemptions

Electric Vehicle FBT Exemption: What’s Behind the Fashionable Concession? Your Questions Answered   What type of Electric Vehicle is exempt? First, the Electric Vehicle  must be a “car” as the FBT law defines it. A “car” is: A vehicle designed to carry less than 1 tonne, and A vehicle designed to carry less than 8 passengers Electric utes over 1 tonne are not “cars” and are therefore not exempt under these rules – there are special FBT rules for utes and don’t assume they are always exempt from FBT. Motorcycles, scooters and similar vehicles are not “cars.” Second, the car must

Inline Partners May 4, 2023

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