Accounting.
Accounting advice for Australian small business: structures, deductions, compliance and what your numbers are telling you.
Accounting·7 July 2026
Paying your spouse through your business? The ATO is watching.
A lot of Australian business owners pay their spouse through the business. Some have them on the payroll. Others distribute income through a family trust or leave profits sitting in a company at the lower tax rate. For years, this was standard practice -recommended by accountants, rarely questioned,
Accounting·30 June 2026
What changes for your business from 1 July 2026
Every new financial year brings change. This one brings more than most. Payday super arrives on 1 July, the biggest change to super since it started, and it lands alongside wage rises, the next round of tax cuts and a permanent instant asset write-off. Here are the changes that matter for your busin
Accounting·3 June 2026
The Little-Spoken Power of ATO Private Rulings
When it comes to managing tax, most business owners focus on the big-ticket items, deductions, structures, and timing. But there’s a little-spoken tool that can quietly transform the way you manage risk and strategy: ATO private rulings. A private ruling is the ATO’s written view on how the tax law
Accounting·19 February 2026
Dual cab Utes and FBT: what small businesses need to know
For many small business owners, including tradies, contractors and growing teams alike, dual cab utes are essential tools of the trade. But there’s still confusion about how these vehicles interact with fringe benefits tax (FBT), especially where personal use is involved. The ATO has continued to em
Accounting·23 September 2025
Director Loans in the ATO Spotlight: What Small Business Owners Need to Know in 2025
Each year, the Australian Taxation Office (ATO) releases a compliance “hit list” highlighting the key areas it will scrutinise. For FY25, one of the standout focus points is director loans - or, in tax law terms, Division 7A (Div7A). This is an area where small businesses often get caught out, somet
Accounting·11 September 2025
Employee vs Contractor: What Every Small Business Needs to Know
Getting worker classification wrong can cost your business big time. Fines, penalties, back-payments and even reputational damage are all on the line if the ATO, your State Revenue Office (SRO), or your local WorkCover authority decides you’ve misclassified a worker. With regulators now sharing more
Accounting·31 March 2025
Fringe Benefits Tax: What Employers Need to Know Before 31 March 2025
Fringe Benefits Tax Exemption for Electric Cars Employers that provide employees with the use of eligible electric vehicles (EVs) can potentially qualify for an Fringe Benefits Tax exemption. This should normally be the case where: Plug-in hybrid vehicles no longer FBT exempt From 1 April 2025, plug
Accounting·26 March 2025
Federal Budget 2025–26: What’s In It (and What’s Not)
The 2025-26 Federal Budget has landed - and while there are a few wins for households, small business owners will feel overlooked. There’s no meaningful new support, and the clock is ticking on key tax measures that still haven’t passed Parliament.Here’s a quick breakdown. What’s in it for Individua
Accounting·18 March 2025
Support Available in the Wake of Ex Tropical Cyclone Alfred
When a disaster strikes, as we’ve seen recently, it’s often difficult to navigate avenues for support across different agencies.We’ve put together this guide to summarise what support is available in the wake of ex-tropical cyclone Alfred, and the eligibility conditions to access that support. We co
Accounting·4 March 2025
How the ATO Uses AI to Keep an Eye on Small Businesses
The Australian Taxation Office (ATO) is employing Artificial Intelligence (AI) to assess small business tax compliance, using custom-built systems to analyse deductible expenses and detect income hidden in the shadow economy. AI Models for Tax Compliance Among the AI tools is the ‘Black Economy Omit
Accounting·4 March 2025
The Importance of Keeping Your ATO Lodgments & Payments Up to Date
The ATO may require small businesses to switch from quarterly to monthly GST reporting from 1 April 2025. Who Will The ATO Target? Anyone who has a history of non-compliance Anyone who has missed/made late payments Anyone who has lodged a BAS late Anyone who reports GST incorrectly This shift aims t
Accounting·12 February 2025
Xero: A Great Accounting Tool, But Not for Job Costing
Xero is a powerful cloud-based accounting software that helps small and medium businesses manage bookkeeping, invoicing, payroll, and financial reporting. While it’s a great general ledger system, many businesses assume it can handle job costing effectively-but that’s where problems arise. Job cost
Accounting·3 February 2025
Maximising your Returns: How Property Depreciation Works
Property tax depreciation refers to the decline in value of an investment property’s assets over time due to wear and tear. The Australian Taxation Office (ATO) allows investors to claim this depreciation as tax deductions, thereby potentially increasing tax refunds and increasing the effectiveness
Accounting·20 January 2025
How Changes to ATO Interest Deductions Will Impact You
Historically, ATO interest charges, such as General Interest Charges (GIC) and Shortfall Interest Charges (SIC), have been tax deductible for businesses and individuals. These charges often arise from underpaid tax, late payments, or adjustments to prior tax returns. However, from 1 July 2025, ATO i
Accounting·20 January 2025
Ensuring ATO Compliance for Property Investors
Each tax season, the Australian Tax Office pays special attention to areas where taxpayers often make mistakes, intentionally or unintentionally. Rental properties have been a key focus this year, with the ATO revealing that 90% of audited rental property schedules contained errors. These errors acc
Accounting·12 November 2024
Christmas Parties & Gifts: A Business Owner’s Guide to Festive Tax Perks
As Mariah Carey’s “All I Want for Christmas Is You” is starting to blast through supermarkets and shopping centers, businesses are gearing up for staff parties and expressing gratitude through gift-giving. In saying this, it’s important to consider the tax implications of these celebrations, particu
Accounting·10 October 2024
Guide to Accounting for Retention Payment in the Building & Construction Industry
Retention payments are very common in the building and construction industry and involve the customer retaining a portion of the contract amount until a time after completion of the project. What Is Retention in Construction? The retention is an agreed-upon amount that acts as security to ensure t
Accounting·23 September 2024
The Power of Shorter Meetings in Small Businesses
In today’s fast-paced business environment, time is one of the most valuable resources. Many businesses find themselves stuck in long, drawn out meetings that often achieve less than intended. Statistics show shorter, more focused meetings can lead to better decision making, greater productivity, an
Accounting·20 September 2024
10 Spring Cleaning Steps for Small Businesses.
Spring is the perfect time for a fresh start, and this applies to your business as much as your home life. Taking a moment to “spring clean” your business can help you streamline operations, improve profitability, and uncover new opportunities for growth. In this article, we explain 10 practical ste
Accounting·30 July 2024
Investment Bond: A Tax Effective Way to Fund Your Child’s Education
Securing your child’s financial future is a top priority for many parents. With education and living costs on the rise, starting a savings plan early can make a significant difference. There are three main avenues to consider when saving for your child: Bank Accounts, Investments, and Investment Bon
Accounting·25 June 2024
Key Action Items for the Upcoming Financial Year: A Guide for Employers
As we approach the end of the financial year, it is crucial for employers to stay updated on the latest changes affecting employee awards, pay rates, and superannuation. Here’s a comprehensive guide to help you navigate these updates and ensure compliance. Fair Work Updates Award Wages Fair Work h
Accounting·18 June 2024
How to Use the Business Boost Grants Program for Your Business
The next round of the Business Boost Grants Program is opening shortly, and is for small businesses wanting to enhance their efficiency and productivity. Funded businesses are expected to: Increase turnover, profit, and employment Boost business confidence and skills Enhance efficiency and productiv
Accounting·21 May 2024
Unlocking Benefits for Small Businesses: The $20,000 Instant Asset Write-Off
Small businesses are the backbone of our economy, driving innovation and fueling growth. At LINK Advisors, we understand the challenges and opportunities that come with running a small business. That’s why our team of experienced small business accountants in Brisbane is committed to empowering smal
Accounting·21 May 2024
Key Initiatives of the 2024-25 Federal Budget Impacting Small Businesses
The economic landscape is creating challenges for most businesses. High interest rates are placing cashflow strains on businesses servicing debt, while supply chain disruptions are leading to lost sales or higher expenses. Labour and skills shortages are resulting in employers paying more to hold on
Accounting·9 April 2024
Turning Equity Into Opportunity: A Guide to Debt Recycling
Debt recycling is a strategy that can help property owners maximise their wealth accumulation while efficiently managing their debts. By leveraging the equity in their property to invest in income-generating assets, individuals can effectively reduce their non-tax deductible debt while simultaneousl
Accounting·26 March 2024
How To Increase Prices In Your Business
One of the most delicate decisions a business must navigate is increasing its pricing it charges customers and clients. Pricing directly impacts revenue, profit margins, customer perception, and market competitiveness. In this article, we delve into the main areas to consider when deciding when and
Accounting·13 March 2024
How to finalise Single Touch Payroll in XERO for the financial year
Another financial year down and now it’s time to finalise your Single Touch Payroll (STP) so your employees can complete their tax returns. Payment summaries or group certificates are a thing of the past, replaced by STP a few years ago. If you’ve opted into Single Touch Payroll, there’s no need to
Accounting·1 November 2023
Xero vs QuickBooks: Who is The Clear Winner?
In the realm of accounting software, QuickBooks and XERO stand out as two of the most popular choices for businesses of all sizes. Both platforms offer a wide array of features designed to simplify financial management. However, when it comes to choosing the right solution, it’s essential to conside
Accounting·8 June 2023
Why June is the perfect time to change accountants
June 8, 2023 | Accounting As a business owner, finding the right accountant is crucial for the success and growth of your company. Accountants play a vital role in managing finances, optimizing tax strategies, and providing valuable insights. However, there are times when changing accountants become
Accounting·13 April 2023
4 essential accounting tips for NDIS businesses
April 13, 2023 | Accounting Running a business in the National Disability Insurance Scheme (NDIS) can be challenging, especially when it comes to accounting. Proper systems and accounting best practice is crucial to achieving sustainable growth of your NDIS business. Here are 4 things to have in pla
Accounting·12 December 2022
Proposed changes to work from home expense claims
The Commission of Taxation has recently released Draft: Practical Compliance Guideline PCG 2022/D4. This guideline defines a new and revised fixed-rate method for taxpayers to claim deductions incurred from working from home. Given the major uptake in work from home arrangements post-COVID, the legi
Accounting·4 April 2022
6 topics to discuss with your accountant before 30 June
April 4, 2022 | Accounting Meeting your accountant more than once a year is essential to running a successful business. As 30 June is approaching, this is a good time to schedule a catch up with your accountant to plan ahead before 1 July. This list consists of the important topics to discuss with t
Accounting·12 January 2022
4 red flags that mean it’s time to switch accountants
January 12, 2022 | Accounting A lot of business owners are frustrated with their current accountant, yet they decide to continue being a client of theirs. Why? It has been proven that sometimes people prefer to accept poor quality of something they know, as opposed to going out in the realm of the u
Accounting·19 March 2021
How to achieve the best tax deduction for your home office expenses
March 19, 2021 | Accounting Employees who work from home may be entitled to claim a deduction for expenses in relation to their home office. These could include electricity, phone, internet, or depreciation on equipment. If you are running a business from home, there are separate rules and allowable
Accounting·3 March 2021
An easy guide to QBCC annual reporting
March 3, 2021 | Accounting QBCC reintroduced annual reporting in January 2019 due to a number of high-profile insolvencies. QBCC wanted more oversight into the financial information of its licensees. Until recently most licensees had 31 December as their annual reporting date. QBCC has now started p
Accounting·2 October 2020
Where should I be holding my assets?
October 2, 2020 | Accounting Have you ever thought to yourself, should I be buying this asset under my name or the trust/company name? The answer to this question is complicated, and requires a few things to be considered prior to pulling the trigger. It is a valid strategy to hold assets in an enti
Accounting·29 September 2020
Family Trusts – Who should I Distribute the income to?
September 29, 2020 | Accounting What is a family trust? A family trust (otherwise known as a discretionary trust) is set up to hold a family’s assets or to conduct a family business. A family trust allows certain asset protection and tax benefits that other investment structures do not. What are t
Accounting·30 June 2020
Family trusts in 2020 and end of financial year actions.
June 30, 2020 | Accounting, Tax As the end of the financial year approaches it is important that you take care of essential housekeeping for your family trust (otherwise known as a discretionary trust). Not completing these steps in time, or incorrectly, may result in unnecessary tax, and the loss o
Accounting·5 May 2020
What’s the best Mac accounting software platform in Australia?
Australian small businesses using Macs have the same financial tasks as those using PCs. But often it’s a challenge to find Mac accounting software that’s as feature rich as the Windows version. So, if you’re on the hunt for the best accounting software to run on your Mac, you’ll find you answer her
Accounting·26 February 2020
8 Services You Had No Idea Your Accountant Could Do
You may be surprised to know that there is more to accounting than tax and bookkeeping. While they both are major parts of an accountant’s job, as cloud computing makes these less time consuming, the role of an accountant has shifted. Now, an accountants’ services goes beyond simple tax and bookkeep
Accounting·21 January 2020
Cash vs Accruals, Which GST Reporting Method Is Better?
If your business is registered for GST you should be aware of the reporting requirements you have. Most businesses will need to report the GST they collected each quarter in a business activity statement (BAS). Where things can get confusing for some business owners is in the different reporting met
Accounting·14 January 2020
A Guide On Helping Employees In Emergencies
Your employees are the lifeblood of your business. They have used their experience and talents to take what you started further than it ever could have gone before. Often, they can become like family. But when disaster strikes and your employees are impacted by it, providing help is the first thing
Accounting·30 September 2019
How to Properly Recognise Income in Your Medical or Dental Practice
We’ve got some fantastic clients in the medical industry. When we get a new client in this industry, we see the same issues popping up every now and then. One of these issues is the way that income is recorded in the books of the business, and subsequently, how it is recorded on the BAS…
Accounting·17 September 2019
How To Get Your PAYG Withholding Obligations Right
The rules have changed for pay as you go (PAYG) withholding. There are now changes to the rules surrounding claiming deductions on payments to your employees. As a small business owner, it is important that you keep up to date with and understand what changes have been made. Here is the rule chang
Accounting·9 September 2019
Changes To QBCC Annual Reporting Requirements for Building & Construction Licence Holders
Written by Elle Sweeney What are the New QBCC Reporting Requirements? Phase 2 of the new minimum financial requirements (MFR) began on 1 April 2019 which requires licensees to report their financial information to QBCC annually (as was the case prior to 2014). The changes aim to improve the stan
Accounting·31 July 2019
Single Touch Payroll Exemption for Directors and Family Members
The ATO has provided concession for small employers from Single Touch Payroll (STP) for payments to closely held payees. On July 1st, 2019 STP was extended, covering all employers. This raised some potential problems for directors of their own business or for family businesses who only employ fami
Accounting·4 June 2019
My Company is Profitable and I Am Paying Tax, But There is No Cash in the Bank. Why?
Business owners often ask where all the business’ cash has gone. Even after having a profitable year, there is often the harsh reality that there is no extra cash in the bank. First thought may be that the books are wrong or someone has made a mistake. More often than not, the explanation is hidden
Accounting·21 May 2019
5 Essential End of Financial Year (EOFY) Accounting To Dos for Business Owners
The end of financial year can get hectic for business owners. It’s stressful trying to ensure that everything is in order and that you haven’t missed anything. To help you along we have created a list of 5 to dos for the EOFY. 1. Get organised The first step to any end of financial…
Accounting·7 May 2019
A guide to motor vehicle deductions
Everyone is looking to get the most out their tax return. One of the biggest ongoing expenses most people need to deal with is their car. So, getting some of the money we lose back into our own pockets is paramount. The trouble is that the ATO has been trying very hard to crack down…
Accounting·30 April 2019
One Stop Guide To Make Record Keeping Easy For Your Small Business
Record keeping is a tedious element to owning your own business that is so important but a pain to do. However, it must be done. Whether it be for taxation or legal purposes, not having your records stored could lead you into deep trouble. Fortunately, there are some great methods that make the whol