For many business owners, tax planning is something that only comes up when the end of the financial year is approaching. By that point, options are limited and decisions are often rushed. January, however, is when effective tax planning actually begins. Starting the year with a clear view of your position allows you to make
Do You Need a New Accountant This Year? Signs It’s Time to Switch to a Proactive Penrith Accountant The start of a new year is often when business owners take stock of what’s working and what isn’t. For some, that reflection includes an uncomfortable question: Is my accountant actually helping my business move forward? Changing
Bookkeeping is one of those areas many business owners feel they should stay on top of — but in reality, it often gets pushed aside until BAS time or year-end. We frequently hear: “It’s close enough — we’ll fix it later.” The problem is that later usually costs more. As experienced Penrith Accountants, we see
December is often seen as a wind-down period for businesses. In reality, it’s one of the best times to pause, review, and quietly set yourself up for a stronger financial year ahead. You don’t need to make big changes or rushed decisions. Small, considered steps taken now can make tax planning easier and far less
The instant asset write-off is one of the most useful tax incentives available to Australian small businesses. It allows you to deduct the full cost of eligible business assets up to $20,000, rather than depreciating them over many years. The government has extended the write-off through to 30 June 2026, giving small businesses more time
From 1 July 2025, the ATO has removed one of the last remaining “safety nets” for businesses that fall behind on tax debts. Until now, the interest charged by the ATO on overdue tax — the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) — was tax-deductible. That meant if your business paid interest
The way Australian small businesses pay superannuation is about to change. For years, the Small Business Superannuation Clearing House (SBSCH) has been the simplest option for small employers to manage super payments. It’s free, reliable and widely used, especially by small businesses that don’t use modern payroll systems. But the ATO is retiring the SBSCH
The $20 000 Instant Asset Write-Off 2025 – Your Complete Guide If you run a small business in Penrith or Western Sydney, there’s good news for your bottom line.The Federal Government has extended the $20 000 instant asset write-off until 30 June 2026, allowing eligible small businesses to immediately deduct the full cost of assets
A quiet but costly change is coming for Australian businesses.From 1 July 2025, interest charges you owe to the ATO on outstanding tax debts will no longer be tax-deductible. Until now, many businesses have treated ATO interest as a normal expense — a painful but claimable cost. The new rule removes that deduction entirely, meaning
If your business uses the ATO’s Small Business Superannuation Clearing House (SBSCH) to pay employee super, big changes are coming. From 1 October 2025, the service will close to new registrations, and all users will need to switch to alternative platforms before 1 July 2026. Here’s what the closure means, how to prepare, and where