Business Tips, Ideas & Support Articles

Choosing a Bookkeeper
Bookkeeping

Top Tips for Choosing a Bookkeeper – And Why Cheap Bookkeeping Can Cost You More

Choosing a bookkeeper is one of the most important decisions for any business owner. While it’s tempting to cut costs, cheap bookkeeping can quickly turn into expensive mistakes that hurt your business in the long run. Cutting corners with your books can lead to ATO penalties, tax surprises, poor cash flow decisions, and sleepless nights worrying about your business’s financial health. Whether you’re a business owner in Sydney or anywhere else, choosing the right bookkeeper is crucial. Here’s how to get it right. Why “Cheap” Isn’t Always Best When Choosing a Bookkeeper Many small business owners try to save money by:

Inline Partners July 7, 2025
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

Inline Partners June 29, 2025
tax deductions in Australia 2025
Tax

Tax Deductions Australia 2025: What Can You Claim This Tax Time?

Tax deductions in Australia for 2025 are one of the biggest topics as tax time approaches. Every year, individuals and business owners ask: What tax deductions can I claim this year? To help you navigate the latest ATO rules, we’ve created this complete (and quite detailed) guide for both individuals and business owners. Use the table of contents below to jump to the sections most relevant to you: Table of Contents 1. Tax Deductions in Australia 2025 Overview When tax time arrives, one question always comes up: “What can I claim?” Claiming eligible tax deductions helps lower your taxable income – meaning you

Inline Partners June 14, 2025
Division 7A explained
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
Division 7A explained
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
Division 7A explained
Bookkeeping

The Top 15 Ways to Make Bookkeeping Easier (and Free Up Your Time)

Bookkeeping doesn’t have to be hard. If you’re looking for ways to make bookkeeping easier, you’re not alone. With the right systems and habits in place, you can free up your time and gain control of your business finances. It doesn’t have to be messy, confusing, or a last-minute scramble at BAS time either. If you put the right systems and habits in place now, you can make bookkeeping easier – giving you more time to focus on growing your business (and less time stressing about receipts). Here are 15 practical ways to streamline your bookkeeping, make your bookkeeping easier and

Lauren Evans April 29, 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

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