Small Business

Business Tips, Ideas & Support Articles

Business Budget for FY26
Budgeting

How to Budget for FY26: Business Budgeting Tips for Australian Businesses

Happy New Financial Year, Australia! As we step into FY26, many business owners are thinking about how to create a business budget for FY26 that’s practical and helps guide decisions all year long. But here’s a truth we see every day: Many businesses don’t bother creating a budget at all – and those who do, often never look at it again. They see budgeting as a once-a-year task, then file it away and keep running the business on gut feel. But the real power of a business budget for FY26 isn’t just in creating it. It’s in using it constantly as

ChatGPT prompts to improve business finances
Business

What the 2025–26 Federal Budget Means for You

The 2025–26 Federal Budget has landed, and while the headlines focus on cost-of-living relief, there’s plenty in it for business owners to pay attention to. From tax incentives and compliance crackdowns to employment law changes, this year’s budget includes updates that will affect your cash flow, your systems, and even your employment contracts. Here’s a breakdown of the most relevant updates – and what they mean for you. 1. Tax Cuts = More Disposable Income   From 1 July 2026, the personal tax rate for incomes between $18,201–$45,000 will reduce from 16% to 15%, and drop again to 14% in July

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

Hidden cost of remote work
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.

Small business owners - time's running out for Director IDs
Advisory

Time’s Running Out on Director IDs

If you were a Director before 31 October 2021, you have until 30 November to apply for your Director ID. Time’s running out. And if you’re becoming a Director, you need an ID before you’re appointed.

Hidden cost of remote work
Accounting

What’s in the 2022 Budget for small businesses?

It’s no secret that small businesses have been doing it tough over the past two years. With ongoing lockdowns and restrictions in place throughout 2020 and 2021 due the COVID-19 pandemic, many small businesses have been on the brink of collapse. However, the Federal Budget 2022, which was delivered on Tuesday March 29, has detailed some relief for small businesses, particularly those who are looking to invest in new technologies and training courses to upskill staff. Here’s what is on offer: Technology Investment Boost and staff training courses Small businesses that spend money on either new technologies or training courses for

Accounting

Three ways to help your small business become profitable

From tech unicorns to online retail stores that have gone global, we all hear about the businesses that have managed to make millions or even billions within a few short years of launching. Yet, for most of the 2.3 million small businesses in Australia, the reality is very different. In fact, for many businesses, it actually takes years before they turn a profit. Profitability According to IBISWorld the most profitable industries in Australia in 2022 are Superannuation Funds with $137.7 billion total profit and Iron Ore Mining with $56.1 billion total profit. Profitability is just one way to measure success. There

Small business owners - time's running out for Director IDs
Small Business

Grow your small business with data

Data tips to help you grow your small business Almost all small businesses experience growing pains. The truth is, successful growth and expansion requires careful consideration and planning. The best way to make informed business decisions is to analyse and use accurate, up-to-date data. Failing to examine and utilise important data can limit potential growth and result in missed opportunities. In fact, research shows that up to 73 per cent of company data goes unused. It’s a bewildering figure. However, often it’s not a case that the business doesn’t want to use the data, rather that, they don’t understand it or

Hidden Costs of Remote Work for Businesses
Accounting

Small Business Failure

There are 3 key reasons for small business failure and all are preventable. Set yourself up for success right from the beginning.