Bookkeeping isn’t just data entry—it underpins every decision you make in your business. Poor bookkeeping leads to missed deductions, cash flow problems and ATO penalties. Below are five common mistakes we see in small businesses and how to avoid them. Staying on top of your books will save you time, money and stress. 1. Mixing
Cash flow is the lifeblood of any business. Even profitable companies can run into trouble if money isn’t available when bills fall due. For small and medium enterprises (SMEs) in Penrith, the Blue Mountains and Western Sydney, managing cash flow is vital for stability and growth. Here are practical strategies, backed by guidance from the
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,
Running a small business in New South Wales brings great rewards — and plenty of tax responsibilities. To help you stay compliant and minimise stress at tax time, we’ve prepared this step‑by‑step checklist for the 2024‑25 and 2025‑26 financial years. Follow these steps, and you’ll have confidence that your business is meeting its obligations while
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