2026 Budget: The Big Changes Editor: The Federal Government handed down the Federal Budget on 12 May 2026, with some of the biggest changes to the tax system in years. Some of the main proposed changes include: Delivering a new Working Australians Tax Offset (‘WATO’) to provide a permanent annual $250 tax offset to all eligible Australian workers. This applies to eligible income earned from 1 July 2027 (i.e., from…  Read more

Are you aware of the Public Ruling PTAQ000.6.5? It provides long‑awaited clarity on how payroll tax applies to medical centres, dental clinics, physiotherapy practices, radiology providers and similar health businesses, though many of our new clients never heard of it and never reviewed their payroll tax obligations. The ruling confirms that many common practitioner‑service arrangements fall within the “relevant contract” provisions—meaning payments to practitioners may be deemed wages for payroll…  Read more

Mandating cash acceptance The Government recently announced that it was delivering on its commitment “to mandate cash acceptance for essential purchases by finalising regulations that require fuel and grocery retailers to accept cash from 1 January 2026.” The changes mean that, from 1 January 2026, most food and grocery retailers must accept cash for in-person transactions of $500 or less between 7am and 9pm. Small businesses with aggregate annual turnover…  Read more

In today’s fast-moving business environment, small businesses face increasing pressure to make well-informed decisions quickly. Whether you’re running a local café, a boutique agency, or an e-commerce store, having a clear and accurate picture of your financial position is crucial. This is where better financial reporting comes into play. While it may seem like just another administrative task, robust financial reporting can be a powerful tool for driving growth. Informed…  Read more

Alternative providers to the SBSCH Employers should start preparing for the permanent closure of the Small Business Superannuation Clearing House (‘SBSCH’) on 1 July 2026. By acting now to find an alternative service, employers will: have an established process in place to pay super guarantee (‘SG’) for the March and June quarters (if they currently pay quarterly); reduce the risk of late payment of SG for the June 2026 quarter…  Read more

Year-end (and other) staff parties With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event.  However, there are important issues to consider, including  the possible FBT and income tax implications of providing ‘entertainment’ (including Christmas parties) to staff and clients.  FBT and ‘entertainment’ Under the FBT Act, employers must choose how they calculate their FBT meal…  Read more

An Employee Share Option Plan (ESOP) is a scheme that companies can use to offer their eligible workers the option to purchase company shares at a specific price in the future. Under the Corporations Act 2001 (‘Corporations Act’), you must provide a disclosure document when offering shares or options to third parties. In the context of ESOPs, you must provide employees with the necessary disclosure to ensure they have the…  Read more

Most people tend to follow a pattern in life. They go to school, obtain qualifications, get a job, pay taxes, and eventually settle down with a family. During this time, many make investments and even start a business to increase their wealth and assets. You can either own those wealth and assets in your name or set an alternative structure, like a family trust to hold them. Doing so, could…  Read more

When you are running a business, hiring people can seem like a confusing process. To make things more complicated, there are multiple employment types in Australia. When choosing who to hire for your business, it is important to be aware of these different employment types. In particular, you should know whether or not you are hiring a contractor or employee. This ensures that you can take the correct steps to…  Read more

Casual workers have been a staple of the Australian workforce for many years. Businesses employ casual workers on a short-term or temporary basis to typically work irregular hours. However, many business owners are unsure about their legal obligations when providing leave entitlements to their casual employees. This article will explore whether casual workers have leave entitlements and an employer’s corresponding obligations. What is a Casual Employee? A casual employee is…  Read more

Employee Share Option Plans (ESOPs) are becoming increasingly popular among Australian businesses, as they offer a way to incentivize and retain employees by giving them an ownership stake in the company. However, as with any employee benefit plan, certain reporting requirements must be met to comply with Australian law. In this article, we will explore what ESOP reporting requirements are from a tax perspective, why they are necessary, and how…  Read more

If you run an Australian business that provides goods or services, you are required to comply with the Australian Consumer Law (‘ACL’). The aim of the ACL is to protect consumers. If you fail to comply, you may have to provide a remedy or in some circumstances, pay a fine. Therefore, as a business, it is important that you understand your obligations concerning the ACL. This article will explain three…  Read more

If you are a business owner, you likely know how important your brand is to your business. Your existing customers know and trust your name and logo, and your unique packaging and design bring in new customers to try your products. Therefore, you want to do everything you can to ensure that other businesses do not copy your branding and steal your hard-won reputation and customer base. Intellectual property protections…  Read more

When choosing the best way to structure your business, several options are available to you – a sole trader, partnership, company, or trust.  Importantly, there are legal and taxation requirements to consider. In particular, running your business through a trust can be advantageous fortaxation purposes and asset protection. This article explores the key aspects of two types of trust you could use to run your business: 1. unit trust; and…  Read more

Buying a business is an exciting step that can lead to financial independence and personal fulfilment. Therefore, when buying a business, you want to make sure you know exactly what you are going into. This means understanding the commercial viability of the business you are going to purchase so that you can make a well-reasoned decision as to whether or not you will buy it. Consequently, you must understand the…  Read more

Workplace policies provide a framework for employers and employees to understand their rights, responsibilities, expectations and standards of behaviour at work. Policies help to create a safe, fair, and inclusive working environment where everyone is treated with respect and dignity. Critically, they provide clear guidelines for employers and employees on how to handle different situations that may arise in the workplace. By having clear and enforceable policies in place, businesses…  Read more

Finding the right premises for your business can be a stressful process. However, once you have found the perfect premises, there are still numerous matters to think about. This article will explore what you need to consider as a tenant before entering into a commercial lease, including: whether the premises are suitable for your business; the costs of entering into the lease; and key clauses to include in the lease.…  Read more

A trade mark is a vital tool in protecting your business and building your brand. It can bring value to your business, protect your products from competitors and help create a brand that customers are loyal to. In this article, we will explain what a trade mark is, and the basics of trade mark registration. What is a Trade Mark? A trade mark is a sign that you use to…  Read more

How to master employer obligations in 2025 Taxpayers who employ staff should remember the following important dates and obligations: Fringe benefits tax (‘FBT’) 31 March 2025 marks the end of the 2024/25 FBT year.  Employers should remember the following regarding their FBT tax time obligations.  They should identify if they have provided a fringe benefit.  If they have, they should determine the taxable value to work out if they have…  Read more

Understanding financial statements might sound daunting, but it’s crucial for small business owners to stay on top of their game. Each financial report offers unique insights into different aspects of your company’s health. This listicle will break down the essentials, helping you make informed decisions and ultimately steer your business toward success. 1. Balance sheet What is it? The balance sheet provides a snapshot of your company’s financial position at…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Chalmers skirts budget deficit question Jim Chalmers declined to directly answer whether a total of forecasted $122.1bn in deficits will increase in the mid-year budget update set to be released on Wednesday. Appearing on Sky on Sunday, the Treasurer declined to directly answer whether the Mid-Year Economic and Fiscal…  Read more