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Congdon Fuzi, Unit 5/36 Ralph Street Alexandria, Sydney (2026)

25/05/2026

Simplified depreciation pools allow small businesses to group assets costing $20,000 or more into a ‘general small business pool’. Instead of calculating individual depreciation rates, these assets are depreciated at 15% in the first year and 30% each year thereafter.

Key Aspects of the Simplified Pool:

• Asset Threshold: Assets costing $20,000 or more (business portion) must be added to the pool.

• Depreciation Rate: In the year of purchase, you deduct 15% of the cost, regardless of when it was bought.

• Ongoing Rate: In subsequent years, you deduct 30% of the declining balance.

• Pool Write-Off: If the total pool balance is less than $20,000 at the end of the year (before calculating depreciation), it can be written off completely.

• Immediate Deductions: Assets costing less than $20,000 can be instantly written off, rather than added to this pool.

This method simplifies bookkeeping for small businesses by reducing the need to track separate depreciation schedules for multiple assets.

If you have any questions, or would like more information please reach out to me [email protected]

04/05/2026

The Small Business Income Tax Offset, often shortened to SBITO, is a tax reduction for unincorporated entities, allowing sole traders, partners, or beneficiaries with an aggregate turnover under $5 million to reduce their personal income tax by up to $1,000 annually. It is calculated as 16% of the tax payable on net business income, applied directly by the ATO upon tax return lodgement.

Here is how it works

You must be an individual with small business income, a sole trader, partner, or beneficiary and have an aggregated turnover under $5 million.

The ATO calculates 16% of the income tax payable on your net small business income.

The maximum benefit is capped at $1,000 per person per year, even if your 16% share exceeds this amount.

When filing your individual tax return, you report your business income and deductions. The ATO uses this data to automatically apply the offset to your tax assessment.

Here are some things you need to think about

The offset is based on net small business income (income minus deductions), not gross turnover.

The offset does not apply to salary/wages, as an employee, director’s fees, or personal services income (PSI) that is not fully generated by the business entity.

This offset is only available to unincorporated businesses, sole traders, partnerships and trusts.

If you need more information the ATO has put together a guide. This has detailed instructions on reporting and to check specific eligibility requirements. As always you can reach out to me [email protected] if you have any questions.

28/04/2026

The Instant Asset Write-Off allows eligible Australian businesses with an aggregated turnover under $10 million to immediately deduct the full cost of eligible new or second-hand assets costing less than $20,000 per asset. The asset must be first used or installed ready for use by June 30, 2026, and used for business purposes.

Key Features of the Instant Asset Write-Off

Threshold: Assets must cost less than $20,000 per individual item. You can write off multiple assets if each one is under the limit.

Eligibility: Generally available to small businesses with an aggregated annual turnover of less than $10 million.

Asset Type: Both new and second-hand depreciating assets qualify.

Timing: The asset must be purchased and first used, or installed ready for use, between July 1, 2023, and June 30, 2026.

Business Use: If an asset is used partly for private purposes, you can only claim the business portion of the cost.

Exclusions: Capital works, horticultural plants, and intangible assets, like software are not covered.

How to Claim

Purchase Asset: Buy a qualifying asset under the $20,000 threshold.

Install/Use: Ensure it is installed and ready to be used before June 30 of the financial year.

Deduct: Claim the full business portion cost on your tax return.

Calculating the Deduction
Business vs. Private Use: You can only claim the business-use portion of the asset. For example, if a $15,000 laptop is used 80% for business, you claim $12,000.

GST Treatment:

If registered for GST, the $20,000 threshold is calculated excluding GST (net cost).

If not registered, the threshold includes the GST-inclusive cost.

Assets over $20,000: Assets costing $20,000 or more cannot be written off immediately. They must be placed into a small business depreciation pool, where they generally depreciate at 15% in the first year and 30% each year thereafter.

Key Limits to Watch
Car Limit: For passenger vehicles, a specific ATO car limit applies ($69,674 for 2024–25; 2025-26 rates may vary). If the car costs more than the IAWO threshold $20,000, you must pool it, and your total depreciation is capped at the car limit.

Lock-out Rules: The rule preventing businesses from re-entering the simplified depreciation regime for five years after opting out is currently suspended until 30 June 2026.

Are you considering a specific asset purchase? If you have any questions please contact me [email protected]

27/04/2026

Superannuation is one of the most effective ways to legally reduce your tax because contributions and investment earnings are generally taxed at a flat concessional rate of 15%, which is often significantly lower than your marginal income tax rate (up to 45% plus Medicare levy).

Lets’ look at 4 of the more common ways to reduce tax using superannuation.

1. Pre-Tax (Concessional) Contributions

These strategies reduce your taxable income directly, meaning you pay less income tax to the Australian Taxation Office (ATO).

Salary Sacrifice: Arrange with your employer to pay a portion of your pre-tax salary into your super.

Personal Deductible Contributions: If your employer doesn't offer salary sacrifice (or if you are self-employed), you can make a voluntary contribution from your bank account and claim a tax deduction on your next tax return.

Note: You must submit a ‘Notice of Intent to Claim’ form to your fund and receive an acknowledgment before lodging your return.

Concessional Cap: The total of these contributions (including employer-paid super) is capped at $30,000 for the 2025–26 financial year.

Carry-Forward Rule: If your total super balance is under $500,000, you may be able to use unused portions of your cap from the last five years to contribute more than the annual $30,000 limit.

2. Offsets and Government Contributions

These options provide direct tax credits or extra payments from the government based on your contributions.

Spouse Contribution Offset: If your spouse earns less than $37,000, you can make an after-tax contribution to their account and receive a tax offset of up to $540.

Government Co-contribution: If you are a low-to-middle income earner (earning less than $62,488) and make an after-tax contribution, the government may match it with up to $500.

Low Income Super Tax Offset (LISTO): If you earn $37,000 or less, the government automatically refunds up to $500 of the tax paid on your concessional contributions back into your super account.

3. Lower Tax on Investment Earnings

Money held inside super is in a ‘low-tax environment’. Here are 3 things to consider.

Accumulation Phase: Investment earnings such as interest and dividends, are taxed at a maximum of 15%.

Retirement Phase: Once you start a pension, usually after age 60, earnings on those assets can become tax-free.

Capital Gains: Assets held within super for over 12 months receive a one-third discount, making the effective CGT rate just 10%.

4. First Home Super Saver (FHSS) Scheme

If you are a first-home buyer, you can save for a deposit via super. Contributions are taxed at the low 15% rate, and when you withdraw, you receive a 30% tax offset on the assessable portion of the withdrawal.

Important Limits & Exceptions
There are however a few things to consider.

Division 293: If your combined income and super contributions exceed $250,000, you may pay an additional 15% tax on certain contributions.

Tax File Number (TFN): Ensure your super fund has your TFN, or you may pay higher tax rates.

Non-Concessional Cap: Voluntary after-tax contributions (for which no deduction is claimed) are capped at $120,000 annually.

If you would like to know more about how superannuation can be used to reduce your tax then please contact me [email protected]

27/04/2026

Income splitting refers to legally directing income from a higher-earning individual to a family member in a lower tax bracket to reduce the household's overall tax liability.

It’s important to understand that you can’t simply "split" your salary with a spouse on a tax return.

Legal methods

Lets look at 5 common legal ways you can potentially income split. Remember these must be documented and reflect real business or investment activities.

Family (Discretionary) Trusts: A trustee can distribute business or investment profits among adult family members. This is one of the most flexible and common methods for families.

Partnerships: Spouses can run a business together as a partnership, dividing profits (and losses) based on their ownership percentage. Both partners must genuinely contribute to the business.

Superannuation Contribution Splitting: You can transfer up to 85% of your before-tax (concessional) super contributions into your spouse's account. This helps balance retirement savings and may provide tax offsets.

Employing Family Members: You can pay a spouse or family member a fair, market-rate wage for actual work they perform in your business.

Investment Ownership: Holding assets like rental properties in the name of the lower-earning spouse can reduce the tax paid on the resulting income.

Critical Restrictions

Now lets look at 2 of the most common methods that don’t work regarding income splitting. It’s worth noting that the ATO has strict anti-avoidance rules to prevent artificial income shifting.

Personal Services Income (PSI): If your income is primarily a reward for your personal skills or efforts (think consultants, IT specialists and doctors), you generally cannot divert it to others via a trust or company.

Minors: Income distributed to children under 18 is often subject to penalty tax rates, making it an ineffective strategy for most families.

There has been discussion of a proposal to allow limited income splitting for couples with dependents. However, this remains a proposal and is not yet law.

If you would like to know more about how you can reduce tax through income splitting please contact me [email protected]

21/04/2026

Preparing for Payday Super means moving from quarterly superannuation payments to paying super at the same time as you pay employee wages. Under these new rules, super contributions must reach employee funds within 7 business days of payday. This becomes law on 1 July 2026

Here are the 5 things you can do top ensure you’re ready for this change.

1. Update Payroll Systems & Technology

Check Software Readiness: Contact your payroll software provider to confirm when they will enable Payday Super functionality.

Automate Payments: Use a payroll system that integrates with SuperStream, allowing you to automate payments alongside each pay run rather than manually processing them.

Move off SBSCH: If you currently use the free Small Business Superannuation Clearing House (SBSCH), think about transitioning to a new provider before it closes on 1 July 2026.

Test your system: Run test pay cycles before 1 July 2026 to identify software or process issues.

2. Review Cash Flow and Processes

Adjust Budgeting: If you’re using a quarterly cash flow model move to a weekly, fortnightly, or monthly model. You will need to ensure you have enough funds to cover both salaries and super payments at each pay cycle.

Review ‘Qualifying Earnings’ (QE): Understand that super will be calculated on ‘Qualifying Earnings’ (which include ordinary time earnings, salary sacrifice, and certain other amounts).

Establish a 7-Day Routine: Create a process that allows you to calculate, report, and pay super so it lands in employee funds within 7 business days.

3. Tidy Up Employee Records

Verify Super Details: Ensure all employee records are up to date, including their tax file number (TFN) and chosen super fund details (USI, member account numbers).

Use Member Verification: Use new ‘Member Verification Request’ (MVR) services within your payroll software to validate fund details before paying, which prevents rejected payments.

4. Prepare for the Transition (Timeline)

Now April 2026: Understand the changes, update employee details, and check your payroll software capability.

April 2026 - June 2026: Finalise the January to March quarter (due 28 April) and transition off the SBSCH if you use it.

1 July 2026: Start paying super on payday.

5. Leverage Early Adoption

The ATO has indicated it will take an educational approach in the first year (2026–27) for businesses making a genuine effort to comply, but penalties (Super Guarantee Charge) will still apply for late or missed payments.

Starting to pay super more frequently can help you identify bottlenecks and get used to the cash flow changes.

06/04/2026

One of the real challenges for small business is ensuring you get paid faster. Here we look at 7 things you can do right now to speed up the process.

1. Re-set the rules of engagement
✅ We see a lot of focus on terms of engagement with new clients. Remember that it’s okay to go back to established clients and re-set the terms or rules of engagement. A great idea is to do this annually.

✅ Look to include payment terms and late fees for overdue invoices. You may also want to offer discounts for pre-payment or early payment, and be clear about the processes for debt resolution.

2. Keep the workflow moving faster
✅ If your work is simple and fast then invoice as soon as it’s done. If your work has milestones or multiple stakeholder approvals, consider sending progress invoices.

3. Optimize Your Invoicing Process
✅ Look to shorten payment terms from the traditional Net 30 days to Net 7 or Net 14. Research shows that 7-day terms are typically paid within two weeks, whereas 30-day terms often stretch to over a month.

✅ Take advantage of compliance. For sales over $82.50 (including GST), GST-registered businesses must provide a valid ‘Tax Invoice’ containing your ABN and the GST amount. Missing details are a common excuse for payment delays.

✅ Include specific due dates. Instead of ‘Payable in 30 days,’ state a clear date like ‘Due by 15 April 2026’ to remove ambiguity.

4. Use Automation and Technology
✅ Automated reminders make life easy. Use accounting software like Xero, MYOB, or QuickBooks to automatically send polite nudges 3, 7, and 14 days after a due date.

✅ Pay Now Buttons embed directly into payment links in digital invoices are a great idea. Platforms like Stripe, Square, and B2Bpay allow customers to pay instantly via credit card or digital wallets.

✅ Adopt eInvoicing to send invoices directly between accounting systems, reducing manual entry errors and speeding up processing times.

5. Financial Incentives and Policies
✅ Request an upfront deposit before work begins, especially for new clients or large projects.

✅ Offer an early payment discount, such as a 2% discount, if the invoice is settled within 10 days.

✅ Explicitly state late payment penalties in your initial contract to encourage on-time settlement.

6. Outsource funding or collection
✅ Sometimes clients and customers just aren’t great payers. You can look to outsource the collection of invoices to a debtor finance business. The funding provider will pay your invoice straight away, and then they receive regular repayments from your client. But be aware that if your client defaults, the risk is with you.

7. Manage Client Relationships
✅ Before extending credit verify new clients by checking the Australian Business Register to confirm a valid ABN or perform a credit check through ASIC.

✅ In larger organisations identify the payer and send the invoice directly to the accounts payable department rather than just your day to day contact.

✅ Use the Payment Times Reports Register to check the average payment speeds of large Australian corporations ($100M+ turnover) before signing contracts.

There we go, 7 things to ensure you get paid faster. If you have any questions please contact me [email protected]

24/03/2026

Improving your cash flow requires proactive management of both inflows and outflows. You’ll want to speed up customer payments, reduce unnecessary expenses, and forecast cash needs.

Think about using cloud accounting for real-time monitoring, maybe offer faster digital payment options, incentivise early payments, and maintain a ‘rainy day’ cash reserve.

Now let’s look at how to get better at cash flow:
1. Accelerate Cash Inflow (Get Paid Faster)

Automate Invoicing: Send invoices immediately upon completion of work or delivery of goods.

Offer Diverse Payment Methods: Accept credit cards, bank transfers, and digital wallets to make it easy for customers to pay instantly.

Incentivise Early Payment: Offer small discounts (e.g., 2% off if paid in 10 days) to encourage faster settlement.

Tighten Credit Terms: Reduce payment terms from 30 days to 14 or 7 days, and strictly follow up on overdue accounts within 7 days.

2. Manage Cash Outflow (Reduce & Delay Costs)

Negotiate with Suppliers: Ask for longer payment terms. For example moving from 30 to 60 terms. Or suggest installment plans.

Review Expenses Regularly: Cut non-essential spending and analyze recurring costs to reduce overhead.

Manage Inventory Efficiently: Adopt just-in-time inventory to avoid tying up cash in stock that sits unsold.

3. Monitor and Plan (Forecasting)

Create a Cash Flow Forecast: Project your income and expenses monthly or weekly to identify potential shortages before they happen.

Use Cloud Accounting Software: Use tools like Xero or QuickBooks for real-time, up-to-date visibility into your financial position.

Build a Cash Reserve: Set aside a portion of profits for emergencies and to cover quiet periods.

4. Proactive Financial Strategies

Review Pricing: Ensure your pricing supports your costs, sometimes low volume/high margin is better for cash flow than high volume/low margin.

Leverage Financing: Consider a line of credit or business overdraft for short-term gaps, rather than relying on high-interest credit cards.

Get Expert Advice: Use an accountant or bookkeeper to regularly review your cash flow statements and provide strategic advice.

03/03/2026

The easiest way to keep records for your business is using cloud-based accounting software. Think, Xero, QuickBooks, or MYOB. These allow you to automate, digitise, and store records securely in real time.

This approach minimises manual errors, saves time, allows for easy bank reconciliation, and simplifies tax obligations.

Key Components of Effective Record Keeping:

* Go Digital: Replace paper files with scanned images or photos of receipts/invoices using apps.

* Automation: Utilise software that links to bank feeds for automatic transaction tracking and categorisation.

* Backup Securely: Ensure digital records are backed up in the cloud to protect against data loss.

* Consistency: Review and reconcile financial records monthly to stay on top of cash flow.

* Retention: Keep all required tax and financial records for at least 5 years.

Essential Records to Keep:

* Income/Sales: Invoices, receipts, and bank statements.

* Expenses: Receipts, invoices, and bank statements.

* Assets & Liabilities: Records of equipment purchases, loans, and, for companies, ASIC related documents.

* Employees: Employment records and superannuation details.

Tools for Record Keeping:

* Accounting Software: Xero, QuickBooks, MYOB.

* ATO Tools: The myDeductions tool in the ATO app is useful for sole traders to store photos of receipts.

* Secure Storage: Cloud storage solutions. For example Google Drive and Dropbox.

If you have any questions regarding record keeping please contact me [email protected]

22/02/2026

Here are 15 ways you can save money today through quick habit changes, structural financial adjustments, and leveraging government resources.

Immediate Quick Wins

1. Audit Subscriptions: Review your bank statements and cancel unused streaming services or gym memberships. Switching to annual payments or rotating services can save you hundreds yearly.

2. Energy Efficiency: Turn off appliances at the wall to avoid ‘vampire’ power drain, which can save up to $240/year. Use cold water for laundry and line-dry or use a clothes horse to dry clothes to save nearly $1,473/year.

3. Meal Prep: Bringing your own lunch instead of buying it can save approximately $3.40 per day ($2,475/year for two people).

Supermarket & Bill Hacks

4. Shop different: Switching to a different retailer for pantry staples can save upwards of $50–$60 per week compared to major retailers.

5. Unit Pricing: Check the price per unit (per 100g) on shelf labels to find the best value, regardless of packaging size.

6. Negotiate Bills: Call your energy, internet, and insurance providers. Mentioning a competitor's lower price often prompts a ‘retention’ discount.

7. Loyalty Discounts: Shopper Programs often provide a monthly 10% discount on one shop, which can significantly offset their subscription fees if used for a large monthly grocery run.

Smart Banking Tools

8. High-Interest Savings Accounts (HISA): Move your emergency fund to an account with a high base or bonus rate. As of early 2026, some HISAs offer rates around 5% p.a.

9. Automate Savings: Set up a recurring transfer on payday to a separate account you don't see daily, this ‘pay yourself first’ method reduces the temptation to spend.

10. Round-Up Apps: Use your bank’s app to ‘round up’ transactions to the nearest dollar, automatically moving the change into a savings bucket.

Government Rebates & Resources

11. Energy Made Easy: Use the federal government’s Energy Made Easy website to find the cheapest plans in your area.

12. Concession & Health Cards: Check your eligibility for government concession cards, which can provide significant discounts on medicines, utilities, and public transport.

13. Moneysmart Calculators: Utilise Moneysmart.gov.au tools to track spending and set specific savings goals.

Transport & Large Expenses

14. Fuel Apps: Use apps like 7-Eleven Fuel Price Lock or state-based fuel check apps to find the cheapest petrol nearby.

15. Refinance Your Mortgage: If you have a home loan, even a small interest rate reduction via refinancing can save you thousands of dollars annually.

Congdon Fuzi

25/05/2026

04/05/2026

28/04/2026

27/04/2026

27/04/2026

21/04/2026

06/04/2026

24/03/2026

03/03/2026

22/02/2026

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