Choosing the right business structure is one of the most important decisions an entrepreneur makes. It affects how much tax you pay, your legal liability, access to capital and the way profits are shared. In this guide we explain the four common structures used in Australia—sole trader, partnership, company and trust—along with their tax implications,
The word “audit” can cause stress for any small business owner, but with the right preparation, a tax audit doesn’t have to be a nightmare. As the ATO ramps up its focus on accurate reporting and compliance in 2025, businesses across Penrith and Western Sydney are being urged to keep their records in top shape.
As the end of the financial year (EOFY) approaches, small businesses across Penrith and Western Sydney are preparing to get their finances in order. Tax planning isn’t just about meeting deadlines—it’s about maximising deductions, improving cash flow, and setting your business up for success in the year ahead. This article outlines the most effective tax
Tax time can be overwhelming for small business owners—but the Australian Taxation Office (ATO) wants to make it easier. Each year, the ATO releases a Tax Time Toolkit, and the 2025 edition is packed with practical advice to help business owners maximise deductions and lodge accurately. In this article, we break down the key elements
As tax time rolls around in Australia, the Australian Taxation Office (ATO) has released its 2025 compliance focus areas, targeting common mistakes made by small business owners. If you’re running a business in Penrith or the wider Western Sydney area, understanding these priorities can help you avoid penalties and stay on top of your obligations.
From 1 July 2025, the Superannuation Guarantee (SG) rate will officially increase from 11.5% to 12%. This change marks the final step in a long-term plan to boost retirement savings for Australian workers—but for small business owners, it also means preparing for increased wage costs and updated payroll systems. In this article, we’ll explain what
The instant asset write-off has returned as a key tax-saving tool for Australian small businesses. With the Federal Government extending the $20,000 threshold until 30 June 2025, this initiative allows eligible businesses to instantly deduct the full cost of assets rather than depreciating them over time. Whether you run a café in Penrith or manage
Each year, the Australian Taxation Office (ATO) outlines its compliance priorities, and 2025 is no exception. For small business owners, knowing where the ATO is focusing its attention helps you stay compliant, avoid penalties, and keep your finances on track. In this guide, we break down the ATO’s key focus areas in 2025 and share
Understanding the tax changes introduced in the 2025 Federal Budget is essential for small businesses across Australia. With updated thresholds, ongoing support measures, and a continued focus on compliance, staying informed can help businesses make smarter financial decisions. In this article, we’ll break down the most important tax updates for small businesses in 2025 and
Starting in April 2025, the Australian Taxation Office (ATO) is gradually shifting some small businesses from quarterly to monthly GST reporting. If you’ve been notified or think this might apply to you, now’s the time to understand what’s changing, why it matters, and how to prepare. This guide breaks it down in plain language so