Accounting Heart

31/08/2026

What do you want your wealth to do beyond supporting you and your family?

For some people, part of the answer is philanthropy. That might mean supporting a cause that matters deeply, contributing to something local, or creating a legacy that reflects the values they want to leave behind.

There are different ways to structure that giving, and the timing can matter too. The right approach can depend on your tax position, estate planning and what you want the money to achieve over time.

In our latest article, Sonia looks at how philanthropy can fit into a broader wealth strategy, including charitable giving, private ancillary funds and testamentary giving.

For many high-net-worth Australians, the question shifts from how to grow wealth to what it's actually for. Here's how philanthropy and legacy fit into a considered financial plan.

27/08/2026

If you’re thinking about expanding your business into Australia, Sonia’s recent blog covers four areas worth understanding before you get too far down the track, including ASIC requirements, ATO obligations, structure choice and financial reporting.

Accounting Heart works with international businesses establishing and operating in Australia, helping them navigate the local accounting, tax and compliance requirements that come with doing business here.

Read the full article here:

Foreign companies operating in Australia face compliance obligations that can arise earlier than expected. Know what to watch for & how to get set up right.

24/08/2026

Putting assets into a discretionary trust doesn’t automatically mean they are protected if something goes wrong.

What happens in a family law dispute or bankruptcy can depend on much more than what the trust deed says. Who controls the trust, how it has been managed and how money has moved between the trust and other related entities can all become important.

There are also changes happening around how trusts are taxed and scrutinised, including the proposed 30% minimum tax from 1 July 2028. While that proposal is not yet law, it adds another reason to review whether an older trust structure is still working as intended.

If your trust was originally set up partly for asset protection, it is worth checking that the way it is being used still supports that purpose.

A trust can be a useful structure, but it needs to work properly in practice, not just on paper.

20/08/2026

If your prices have stayed the same while wages, super, insurance, software, rent and supplier costs have all increased, your margin has already changed, even if your revenue hasn't.

Pricing can easily fall behind the real cost of delivering the work, particularly when increases happen gradually rather than all at once.

A pricing review isn't simply about putting fees up. It's about checking whether the business is still being paid properly for the time, resources, complexity and risk involved.

When did you last check whether your pricing still reflects what it actually costs to do the work?

17/08/2026

Many parents want to help their children buy a home or get through a difficult financial period, but how that support is provided can matter just as much as the amount.

A large gift may seem straightforward at the time, particularly when everyone is on good terms. Years later, however, questions can arise. Was the money a gift, an advance on an inheritance, or something that should be taken into account when the estate is eventually divided?

In some circumstances, a documented loan may be more appropriate, particularly where asset protection, a relationship breakdown or fairness between family members needs to be considered.

Helping family doesn't need to become complicated or overly formal. But for significant amounts, it is worth making sure everyone understands the arrangement and that it fits with your broader estate plan.

13/08/2026

Planning to pay employee bonuses? Make sure you budget for the full cost, not just the bonus itself.

A $5,000 performance bonus will generally also attract superannuation, bringing the payroll cost to $5,600 at the current 12% rate. With Payday Super, that super also needs to be factored into the same pay cycle rather than being dealt with at the end of the quarter.

Before you lock in bonus amounts, work out what they will actually cost the business and make sure the cash flow is there to cover them.

10/08/2026

A discretionary trust may have suited your family or business when it was established, but that does not mean it will always be the right structure.

Beneficiaries change, income levels change, businesses retain more profit and investment strategies evolve. Tax rules change too.

If your trust hasn’t been reviewed for several years, it may be worth asking whether it is still doing what you originally set it up to do, or whether you are simply continuing with it because it’s there.

If you’re not sure, we can help you review it in the context of where you are now and where you’re heading.

06/08/2026

Planning to reward your team with a bonus?

Before confirming the amount, make sure you understand the full cost and how the payment needs to be processed. Most performance-based bonuses attract super; the correct PAYG withholding method depends on what the bonus relates to, and Payday Super means the contribution must be funded as part of that pay cycle.

Our latest article explains the tax, super and payroll details to check before your next bonus run.

Paying staff bonuses? Get the rules on superannuation, tax withholding and payroll timing right so that you can reward your team without the compliance headaches.

03/08/2026

If your discretionary trust was established years ago, do you know whether it's still achieving what it was intended to?

Your beneficiaries, income, business interests and family circumstances may have changed considerably since then. Tax settings have also evolved, with greater scrutiny of trust distributions and further reforms now proposed.

Our latest article looks at what has changed, where the limits of trust asset protection can arise and how to assess whether your existing structure remains fit for purpose.

Recent tax changes are reshaping how discretionary trusts stack up. Here's what's changed, what it means for your structure, and when it's worth reviewing.

30/07/2026

You’ve built something significant: a client base that trusts you, a team that relies on you and a business that reflects your values and rewards your effort.

The question worth sitting with is not only what happens when you are ready to step back, but also what happens if you have no choice.

If illness, injury or a family emergency took you away from the business unexpectedly, could it continue without you?

Clear processes, access to key information and the right people having authority to make decisions can protect what you have built, even when life does not go to plan.