Accounting

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Graphic showing the hidden cost of ATO compliance
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
Accountant help you plan for the future
Accounting

Why Your Business Structure Still Matters (Even if You Set It Up Years Ago)

When you first started your business, you probably picked a structure based on what was quickest, cheapest, or what your accountant suggested at the time. But here’s the thing…What made sense then might not be serving you now. As your business grows, your structure can either save you thousands or hold you back. And yet, many business owners never review it again – until there’s a problem. So, let’s break it down… What is a Business Structure (and Why Should You Care)? Your business structure is basically how your business is legally and financially set up. Common structures in Australia include:

Lauren Evans April 8, 2025
Accounting

EOFY is Coming – 9 Quick Actions to Get Ready

The end of the financial year (EOFY) can feel overwhelming, but getting prepared now will save you stress (and money) later. Here are nine simple things you can do right now to get ahead before June 30. 1. Pay Super Early to Claim the Deduction Superannuation is only tax-deductible when it’s paid on time. If you want to claim a deduction this financial year, make sure your June quarter super is paid before June 30—otherwise, it won’t count until next year. 2 Chase Up Outstanding Invoices Got unpaid invoices? Now’s the time to follow up on overdue accounts so you’re not

Lauren Evans March 25, 2025
Accounting

Celebrating a Well-Earned Promotion: Sherzod Norboev Steps into His Role as Manager at Inline Partners

Initiative comes in many forms… and Sherzod Norboev has never been short on it. It’s not every day someone walks in off the street, asks for a job, and then proceeds to back it up with hard work, academic excellence, and an unwavering commitment to growth. But that’s exactly what Sherzod did. Since joining Inline Partners, Sherzod has continually proven himself as an invaluable member of our team. His quiet determination and tireless work ethic have seen him excel in Accounting, Tax, and Business Services—all while completing his Chartered Accounting program. Originally from Uzbekistan, Sherzod arrived in Australia with a vision:

Lauren Evans February 28, 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
Page of tax calculations
Accounting

What Is Succession Planning and Why Is It Important?

There is a popular saying in the business community – if you fail to plan, you plan to fail. But, with your business at the peak of success and a promising financial future in full view, it can be difficult to take a minute to consider what would happen to your business if you left. A 2022 national survey shows that more than 1 in 4 Australian business leaders do not have a succession plan for top leadership positions. Yet leadership transitions are an inevitable part of business. You may not want to envision a future where you no longer run

Lauren Evans May 21, 2024
Accounting

Protecting a Legacy: The Challenges of Passing on the Family Business

When it comes to mixing family and business, there are two schools of thought. Firstly, it’s a bad idea as it will affect your ability to make rational decisions and force you to not always put ‘what’s best for the business’ first. Secondly, with it becoming increasingly difficult to find staff, employing family members is a great idea as they will be loyal and also personally invested in the success of the business. Obviously, there are a range of variables that will affect your perspective on this (such as whether your family members have a strong work ethic) but family businesses,

David Mah Chut August 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
Graphic showing the hidden cost of ATO compliance
Accounting

What’s in the October 2022 Federal Budget?

The Federal Budget announced on Tuesday night was the second for 2022, and represents the new Government drawing a line under the previous government’s policies. The Budget itself did not present many substantial reforms or initiatives.

Inline Partners October 26, 2022

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