Sharp Accounting

01/06/2026

⭐ It has been a great privilege to help the growth of Dental on Errard over the last 20 years. Such a great success story!

Thank you for the kind words. ⭐

27/05/2026

Are you thinking about buying equipment, purchasing property, selling an asset or reviewing your business structure?

The 2026 to 2027 Federal Budget includes changes that could affect the timing and tax outcome of those decisions.

Some changes may help business owners, including the permanent $20,000 instant asset write off and the return of loss carry back rules.

Others need careful planning, including proposed changes to negative gearing, capital gains tax and discretionary trusts. The discretionary trust changes are not due to start until 1 July 2028, but they could become important for businesses using trust structures or bucket company arrangements.

The main message is simple....before you commit to a major purchase, sale or structure change, check the timing and get advice.

We have summarised the key Budget points for business owners here:

The 2026-27 Federal Budget has changes affecting your tax, structure and wealth. Here is what Australian business owners need to act on.

25/05/2026

If customers owe you money, EOFY is a good time to clean up what is overdue.

Unpaid invoices affect more than your bank balance. They can distort how healthy the business feels and make cash flow tighter heading into the new financial year.

Before 30 June, check who owes money, how long it has been outstanding, whether payment terms are being followed, and whether your invoicing process needs tightening.

Strong profit does not help much if the cash is still sitting with customers.

20/05/2026

Your super is one of your biggest assets. Most people have no idea what it is actually costing them.

One of our clients with $1.78M in super was paying $12,180 a year in industry fund fees. Their Sharp Accounting SMSF costs $4,750. Same balance. Fixed fee.

SMSFs are not for everyone. But if your balance is growing, it is worth understanding what you are actually paying and what you are getting for it.

Julian Versloot, our in-house SMSF specialist with over 20 years of experience, has written a plain English guide on why more Australians are taking control of their super.

This article is worth reading to understand if your fund is working for you and you'll be able to download our SMSF Suitability Checklist.

Find out why Australians are leaving industry super funds and taking back control of their retirement with an SMSF.

18/05/2026

We are getting to the stage of the year where a lot of business owners suddenly realise EOFY is not far away.

Equipment purchases, vehicles, tax, cash flow, wages, supplier payments. Everything starts landing at once.

That is usually when rushed decisions happen.

Right now, there is still enough time to sit down, look at the numbers properly, and work out what the business can realistically afford before 30 June.

A few weeks can make a big difference at this time of year.

If you have not reviewed your EOFY position yet, now is a good time to get on top of it before June pressure kicks in.

13/05/2026

Payday super is getting closer.

From 1 July 2026, super will need to be paid every payday instead of quarterly.

The amount stays the same, but the timing changes and that can have a real impact on business cash flow if it is not planned for properly.

Many businesses will face a final quarterly payment while also starting super payments with each payroll.

For some, that could mean $30,000 to $50,000 leaving the business in one month.

The businesses getting ahead of this now are giving themselves far more flexibility before the change arrives.

11/05/2026

The ATO has launched a Verify Call feature in the ATO app that lets you confirm whether you're actually speaking with a real ATO representative while you're still on the call.

Phone scams impersonating the ATO are among the most reported scams in Australia, and tax time is peak season for them. The scam typically follows the same pattern: a call out of nowhere, a threat about a tax debt, and pressure to act immediately.

The Verify Call feature cuts through that. Open the ATO app, log in while you're on the call, and within 30 seconds, you'll know if it's legitimate.

With over 7,500 ATO impersonation scams reported last year alone, it is worth having the app downloaded and your device registered before tax time gets underway: https://bit.ly/4npgpgL

08/05/2026

Revenue tells you how busy you are. It does not tell you if you are making money.

For professional services businesses, the gap between what you bill and what you actually keep is often where the real problem sits. Staff costs, rework, scope creep. It adds up quietly.

Benchmarking your margins against similar practices shows you where you stand and what a realistic improvement looks like.

07/05/2026

Every business owner will exit their business eventually. The question is whether that exit is planned or forced.

Succession planning is not something you do when you are ready to leave. It is something you build into your business strategy from the start. The earlier you think about it, the more options you have.

Owners who plan ahead can sell at a time that suits them, transition gradually, bring in a partner, or structure a sale to minimise tax. Owners who leave it too late often find their choices are made for them.

If succession planning is not already part of your business strategy, now is the time to start that conversation.

24/04/2026

Not every business needs the same structure. But every growing business needs the right one.

As your turnover grows, the structure that got you started can start working against you. It can cost you more in tax, expose your personal assets, and make it harder to bring in a partner or plan an exit.

A structure review takes a couple of hours. The benefits can last years.