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Cannot afford your BAS or tax bill? Do not stop lodging. ❌This is something I see business owners get caught on all the ...
02/09/2026

Cannot afford your BAS or tax bill? Do not stop lodging. ❌

This is something I see business owners get caught on all the time.

The BAS is due. The cash is not there. So they leave the lodgement sitting there until they can afford to pay it thinking nothing will happen.....

But your BAS lodgement and your ATO payment are two separate things. 🤦‍♀️

If you cannot afford to pay the ATO in full, you can still lodge what is due and then deal with the tax debt separately.

Leaving the lodgement undone does not make the GST, PAYG withholding or tax liability disappear. It can simply leave you with an ATO debt and overdue lodgements to sort out. You are also leaving yourself open to fines.

And if you are already on an ATO payment plan be careful..

Your new tax obligations do not automatically get rolled into the existing payment plan. The ATO generally expects you to keep up with the agreed repayments as well as your new lodgement and payment obligations.

So if the payment plan is taking every spare dollar and the next BAS is already going to go unpaid, the problem has not really been fixed. It has just been pushed forward.

👉For company directors, there is another reason I take overdue lodgements seriously.

Certain unpaid company debts, including PAYG withholding, GST and Superannuation Guarantee Charge, can lead to a Director Penalty Notice, which can make the director personally liable.

If you are struggling to pay an ATO tax debt follow this list:
Speak to your accountant.
Lodge what is due.
Know exactly what you owe.
Work out what the business can realistically afford.
Review any existing ATO payment plan.
Then make a plan for the next BAS as well.

If the cash is not there, deal with the debt problem later.

Do not accidentally turn it into a payment problem and a lodgement problem.

🗓️September and October are bringing a few important dates for Australian business owners A few dates to have in your ca...
01/09/2026

🗓️September and October are bringing a few important dates for Australian business owners

A few dates to have in your calendar:

📌 21 September
August monthly BAS / IAS

📌 1 October
Card surcharge rules change

📌 21 October
September monthly BAS / IAS

📌 28 October
September quarter BAS, where the standard due date applies

📌 31 October
Individual tax return deadline if you lodge yourself, or the date to make sure you are registered with a tax agent if you want to access their extended lodgment program

31/08/2026

If the only time you are really looking at your business numbers is when your tax return is being prepared, you are leaving it way too late.

As a business owner, there are a few things you should have some idea of throughout the year.

What is sitting in the bank?
Who owes you money?
What bills and tax obligations are coming up?
Are your expenses increasing?
And is the business actually making a profit?

These are the numbers that help you understand what is really happening in the business, especially when you are trying to work out things like cash flow, pricing, spending or why there never seems to be as much money in the bank as you expected.

This is one of the reasons I love using Xero with my business clients. It brings the day-to-day financial side of the business into one place so you can access the information as you go.

As a business accountant, I would much rather you be looking at your numbers during the year and asking questions early than getting months down the track and saying, “I had no idea.”

👀 Looks for a special Xero offer?
Visit the link in my bio. Terms & Conditions apply.*

Xero, ,

31/08/2026

Paying someone as a contractor does not automatically make them a contractor.

An ABN. An invoice. Even a contractor agreement.
None of those things, on their own, decide whether someone is actually an employee or an independent contractor.

You need to look at the whole arrangement.
Who controls when and how they work?
How are they paid?
Can they delegate the work?
Who provides the tools and equipment?
Who carries the commercial risk?
Are they working as part of your business, or genuinely running their own?

And there is another one business owners often miss.
You can have a genuine contractor and still have a superannuation obligation, particularly where the contract is mainly for that person’s labour.

Getting the classification wrong can mean unpaid super, PAYG withholding obligations and penalties.

So if you regularly use contractors in your business, do not rely on the fact that they have an ABN and send you an invoice.

It is worth checking what the working relationship actually looks like.

Growth can look really good on paper and still put pressure on your bank account.One of the things I look at as a busine...
28/08/2026

Growth can look really good on paper and still put pressure on your bank account.

One of the things I look at as a business accountant is how much cash a business needs to fund its growth before that extra revenue actually gets paid.

If you are taking on more work, you might also be paying more in wages, materials, contractors, stock or overheads well before the customer pays you.

That gap is so important.

A few things worth looking at in your own business:

• how long it takes you to invoice
• your customer payment terms
• how quickly your debtors actually pay
• whether you could use deposits or progress payments
• how much cash you need to spend before each sale is collected

More revenue can absolutely be a good thing, but it helps to understand what that growth is asking from your cash flow first.

27/08/2026

Division 7A is something every company director should understand.

If you own a company and regularly transfer money from the company bank account to yourself, those transfers need to be accounted for properly.

They might be wages, dividends, reimbursements, repayment of money the company owes you, or they may end up sitting in a director or shareholder loan account.

And that last one is where Division 7A can become an issue.

Depending on the circumstances, we may be able to use strategies such as wages, dividends, repayments, amounts already owed to you, or a complying Division 7A loan.

What you do not want is to get to the end of the financial year and find a large director loan sitting on the balance sheet that nobody has been keeping an eye on.

If you own a company, how you take money out of it should be something you are discussing with your accountant throughout the year.

Save this one if you are a company owner who regularly transfers money to yourself.

Thinking about buying a business? 💸 I’ve seen it time and time again. Someone gets an idea in their head that they can b...
24/08/2026

Thinking about buying a business? 💸

I’ve seen it time and time again. Someone gets an idea in their head that they can buy a business that’s already doing well, step into it, and it’ll just keep doing well for them.

But it really doesn’t always work like that.

There are so many layers you need to look at before buying a business, and the profit from last year is only one small part of it.

You need to understand why the business is making money in the first place.

Is it because the business itself is strong? Or is the current owner the one bringing in the work, holding the client relationships and doing most of the selling?

Because if they leave, that can change the whole picture.

Then there are the actual financials.

I don’t just want to see a spreadsheet someone has put together. I want to see the Profit & Loss, Balance Sheet, BAS, tax returns, payroll, debtors and creditors and make sure they all tell the same story.

You also need to know what you’re actually buying.

Is the price made up of goodwill, stock, equipment, vehicles, contracts, IP or customer relationships? Have the assets been valued properly? Is there a lease in place and can it actually be transferred to you?

Then I’d be looking at how safe the revenue is.

If one customer makes up 40% of sales, that’s a completely different risk to having revenue spread across a large customer base. Same if most of the work comes through the current owner’s personal relationships.

And then you need to run your own numbers.

What will the business look like once you own it?

Do you need a manager? More staff? Finance to buy it? More working capital? Are your wages and operating costs going to be higher than the seller’s?

The business might have made good money for them, but that doesn’t automatically mean it will make the same money for you.

And before you sign anything, get someone independent to go through the numbers and paperwork properly and make sure there aren’t any skeletons in the closet.

Buying a business can be a great move, but you need to understand what you’re actually buying, how it makes money, what you’re taking on and what the numbers are likely to look like once it’s yours.

Can you do your own BAS? Yeah, of course you can.But I think people sometimes underestimate what actually goes into gett...
21/08/2026

Can you do your own BAS? Yeah, of course you can.

But I think people sometimes underestimate what actually goes into getting one right.

It’s not just looking at the number and lodging it.

You’ve got the bookkeeping, GST coding, payroll, asset purchases, loans, accounts receivable and payable, the balance sheet, the Profit & Loss… and then making sure the BAS actually agrees with all of that.

And this is where mistakes can get expensive.

You can miss GST credits, claim GST where you shouldn’t, carry incorrect payroll figures through, miss fuel tax credits, or just keep rolling the same bookkeeping errors forward quarter after quarter.

And honestly, by the time someone finally looks at it properly, sometimes there’s quite a bit to clean up.

So yes, you can absolutely lodge your own BAS.

But I think the better question is whether you’d actually know if something in there was wrong.

Lodging it is the easy part.

Knowing the numbers behind it are right is where the value is.

Increasing your prices isn’t just about looking around and thinking, “well… everything costs more now.” 💬You need to kno...
13/08/2026

Increasing your prices isn’t just about looking around and thinking, “well… everything costs more now.” 💬

You need to know what’s actually happening in your own business first.

Your costs might have gone up. Your margins might have dropped. Your break-even point might have moved. Or maybe one of your services just isn’t making enough anymore.

And that’s why I think pricing needs to be reviewed regularly, not just once every few years when you suddenly realise you haven’t changed it since 2022. 😬

Have a look at what each service or job is actually costing you now, what margin it’s leaving you with, and whether that margin is enough to cover the rest of the business.

Your break-even point is a big one too. As you add staff, vehicles, software, rent, insurance and all the other things that come with growth, the amount you need to make just to cover your costs changes.

But the numbers are only one side of it.

You also need to look at the market.

- What do your customers actually want?
- What problem are you solving for them?
- What are they willing to pay for that solution?
- And does your current offering still make sense?

Sometimes the answer isn’t simply “put the price up.” ❌

You might need to change the way you package something, stop offering a service that takes too much time for too little return, or put more focus into the work people actually value and are happy to pay for.

At the end of the day, your business exists to solve a problem someone is willing to pay you to solve. 💰

And your pricing needs to make sure the business can afford to keep solving it, while also paying you properly for the skill, time and experience you bring to it.

So before your next price increase, don’t just pick a percentage.

Know your costs. Know your break-even point. Know your market. Then price from there.

11/08/2026

Growing revenue can feel exciting… until your cash flow starts getting tighter.

👉 In part one, I talked about why that happens.

This is the bit that matters next: as your business grows, the way you manage your money usually has to grow with it.

That means looking beyond just sales and your Profit & Loss.

🤔 You also need to be thinking about:
-what’s sitting on the balance sheet
-GST, PAYGW, super and other liabilities
-how much cash is already spoken for
-how quickly customers are paying you
-whether deposits or progress payments make sense
-whether your pricing still works now your costs have increased
-and how much cash buffer you actually need to carry the business

Your break-even point can change pretty quickly once you add staff, vehicles, software, finance and bigger overheads.

And if you’re taking on larger jobs, you don’t always want to be funding the whole thing yourself while you wait to get paid.

This is also where separate bank accounts can really help. Having different buckets for GST, tax or other obligations makes it much easier to see what money is actually available to run the business.

The goal isn’t just to grow revenue.

It’s to grow in a way the business can actually afford.

Address

Griffith, NSW
2680

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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