Insights & updates
Practical tax, business and accounting tips from the BTMH team in Bondi Junction.
81 articles
Director penalties: when a company's tax debt becomes yours
A company's debts are the company's – with three exceptions. Unpaid PAYG withholding, GST and super can be recovered from directors personally through a director penalty notice. What the notice is, how it arrives, and why the date on it matters more than the date you read it.
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The new $1,000 deduction – and its one trap
From 2026-27, employees get an automatic $1,000 deduction for work-related expenses – no receipts, no logbook. Mostly that means less admin. But there is one catch that trips people up.
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Is your business ready? The ATO is watching closer in 2026
Is your business ready? The ATO is watching closer in 2026 The ATO can now see your bank transactions, contractor payments, even income from Uber or Airbnb – all cross-checked…
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How to calculate GST: why you divide by 11, not 10
GST is 10% of the price before GST, which means it is one-eleventh of the price your customer pays. Take 10% off the total and you overpay the ATO on every invoice. Here is the arithmetic, both directions, with the shortcuts worth memorising.
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Starting out as a contractor: what you actually need
If you are picking up contracting work on site, you do not need a company, a trust or a business plan. You need an ABN, a bank account and a handful of things nobody tells you about – super, insurance and the reason the ATO already knows what you were paid.
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The company structure: is it right for you?
A company is a separate legal person that owns the business, signs the contracts and owes the debts. That line between the company and you is the whole reason most businesses end up in one – so it is worth knowing exactly where the line holds, and the three situations where it does not.
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The trust structure: discretionary and unit trusts explained
A trust is not a thing that trades so much as a way of holding something. Understanding who the trustee is, what the deed says and why the income has to go out every year is most of what you need before deciding whether one belongs in your structure.
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Unit trust or company? What actually decides it
Both give every owner a defined, transferable stake, so both work between unrelated parties. The choice turns on two things that pull in opposite directions: whether profit can stay in the entity, and whether the character of income survives the trip out to the owners.
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Director ID reporting changes are coming from 1 July 2027
From 1 July 2027, companies will need to provide director IDs to ASIC as part of some company updates. This may include: annual company reviews; appointing a new director; removing…
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Buying a house through your super? The rules just changed!
If you’ve ever thought about using your self managed super fund to buy an investment property, there’s a new deadline you need to know about. From 10 August 2026, SMSFs…
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New AML/CTF rules. What do they mean for BTMH Clients?
From 1 July 2026, new Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws apply to certain services provided by accountants and advisers. As part of these requirements, BTMH may need…
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Working from home deduction: what the 70c rate actually means
Working from home? You can claim related costs as a cents-per-hour worked method. ATO allows a claim of 70c per hour worked from home. Here’s how it works and where…
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Has your business crossed a GST threshold? Here’s what changes from 1 July 2026
If your GST turnover has dropped below the $75,000 threshold, you may be eligible to cancel GST registration or move to simpler reporting options from 1 July.From 1 July 2026,…
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FBT 2026 – how we approach it with clients
Before lodging electronically, FBT, the key step is to confirm what employee-related expenses exist and whether they create an FBT obligation. This is how we approach it with clients. 1….
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FEDERAL BUDGET 2026-27: What it means for your business
The Federal Budget has landed – and there’s quite a bit in it that affects how you run and structure your business. Here’s what you need to know, and what…
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Federal Budget 2026–27: What it means for your personal finances
Every budget brings change – but this one has some real bite for investors, especially owners of investment properties. Here’s what the 2026–27 Federal Budget means for your personal finances,…
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Fuel Response Payment Plan – our approach to assessing if you qualify
Fuel Response Payment Plan – our approach to assessing if you qualify Fuel Response Payment Plan is not a grant – it’s a fuel-related ATO payment arrangement for the taxes…
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PayDay Super – practical checklist for businesses
From 1 July 2026, super must be paid on each payday instead of quarterly. You can work through this internally, or we can help you review your setup. What this…
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Top cyber security tips for individuals (2026 Guide)
Cyber criminals are constantly looking to steal personal information, money and identities. The good news is that many cyber-attacks can be prevented from using basic security habits. This guide covers…
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Top cyber security tips for businesses (2026 Guide)
Cyber security is not just a technical issue – it’s a business risk. If your business data is lost, stolen or compromised, recovery can be costly, time-consuming and damaging to…
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Small business CGT concessions: what you should know
If you’re a small business owner in Australia planning to sell or restructure your business, capital gains tax (CGT) may apply. However, the Australian tax system offers small business CGT…
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2026 Financial checklist for small business
Starting 2026 with a clear financial review helps small businesses stay compliant, manage cash flow effectively, and avoid last-minute tax issues. This checklist outlines the key financial areas every Australian…
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What we have learned from another year of helping australian businesses?
As the year draws to a close, we’ve been reflecting on what 2025 has taught us – about business, growth and people. Because behind every balance sheet, there’s a story….
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Why should every business owner keep a travel diary?
When you travel for business – meeting clients, visiting suppliers or attending conferences – it’s important to keep clear records of your activities and expenses. This helps you claim tax…
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Claiming vehicle expenses: cents per km or logbook method?
If you use your car for business purposes, you may be able to claim a tax deduction – but how you calculate that deduction depends on the type of vehicle…
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5% deposit scheme for first homebuyers now underway
The expanded First Homebuyer Guarantee has officially begun, giving Australians looking to buy their first home a new opportunity. From October, first-time buyers can purchase a property with just a…
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Smart moves: why Sydney small businesses need a tax expert?
Running a café, freelancing, or selling online in Sydney? Managing Australia’s tax system can get complicated fast. From GST to super obligations, staying compliant while optimising finances is challenging. A…
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SafeWork NSW $1,000 Small Business Rebate
If you’re a small business owner in NSW, you may be eligible for the SafeWork NSW $1,000 Small Business Rebate. This rebate helps you purchase eligible safety items to make…
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Claiming business expenses: What’s allowed and what’s not
Running a business means you’ll have many expenses, but not all of them can be claimed as deductions at tax time. Knowing which costs you can claim helps you save…
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FBT 2025 – What Employers Need to Know Before Lodging
The 2025 Fringe Benefits Tax (FBT) year officially closed on 31 March 2025, and employers across Australia should now be turning their attention to their FBT reporting and compliance obligations….
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A Simple Tax Guide when Subdividing Your Land in NSW
A Simple Tax Guide when Subdividing Your Land in NSW Thinking about subdividing your land in NSW? Many property owners are transforming larger plots into smaller, more valuable lots. Here’s…
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Employee vs Contractor – How to Get It Right in 2025
In 2025, it’s important for businesses to understand the difference between employees and independent contractors. Getting this wrong can lead to tax issues and potential penalties. UNDERSTANDING THE BASICS The…
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Federal Budget 2025–26: What It Means for You and Your Business
Federal Budget 2025–26: What It Means for You and Your Business The Federal Budget for 2025–26, delivered on 25 March 2025, focuses on providing immediate support to households and businesses,…
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Guide to Australian Tax Updates: Income Tax Rates, Medicare Levy & SAPTO Changes
Where the individual tax brackets sit for the return you are lodging now and for the year in progress, plus the Medicare levy low-income thresholds and the SAPTO offsets – with the year each figure belongs to stated, because they move every July.
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Reduce the Cost of Your Energy Bills with Smart Upgrades
Small changes around your home or business can make a significant impact on your energy bills. With the growing availability of energy-efficient appliances, it’s easier than ever to save energy,…
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Maximise Your Long Service Leave Entitlements: What You Need to Know!
Did you know you’re entitled to Long Service Leave (LSL) after working with the same employer for an extended period? Whether in the public or private sector, it’s a valuable…
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Comparing SMSFs with Other Super Funds: What You Need to Know
When it comes to managing your retirement savings in Australia, choosing the right superannuation fund is crucial. Self-Managed Superannuation Funds (SMSFs) and traditional super funds both offer unique advantages and…
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ATO Lifestyle Assets Data-Matching Program
The Australian Taxation Office (ATO) has announced a New Data-Matching Program targeting lifestyle assets. This initiative aims to enhance tax compliance and provide a clearer understanding of taxpayers’ assets. The…
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10 essential points to consider in setting up a business in Australia
Starting your own business in Australia is an exciting yet challenging journey. The key to success lies in careful planning and understanding the essential steps needed at the outset. In this article,
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ABN vs TFN: Understanding the differences
A TFN is your private tax identifier and you need one if you earn money in Australia. An ABN is your business's public identifier and you only need one if you run a business. Many people hold both.
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TAX FUNDAMENTALS
Australian taxes are complex, and our primary job is to make you navigate and be compliant with all of them. To make our job more efficient, it helps if you…
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Key Changes from the 2024-25 Federal Budget that may affect you
With the new financial year just around the corner, we will soon see a few new taxation changes come into effect. Being formally publicised during the 2024-25 federal budget, some of the new changes t
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Increasing Compliance Activity – ATO Small Business Benchmark
There are many ways to improve your business’ performance. While a trip to the accountant is a great way to get professional help in the optimizing of business procedures, home…
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Preparing Yourself for Your Tax Return
What to bring to your tax appointment, and what to have ready before you arrive, so the return can be finished in one visit rather than three.
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Cash Flow Management – The Key to Financial Success of Your Business!
Let’s start with the purpose: Proper cash flow management is crucial to maintain liquidity and growth All business decisions must be made in consideration of cash flow impact Cash is…
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What is Superannuation Guarantee?
Superannuation Guarantee is the super an employer must pay on top of wages. It is 12% of qualifying earnings, and since 1 July 2026 it has to reach the fund within seven business days of each payday rather than once a quarter.
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ATO Scams – What do I do?
Scams are easily the most prevalent danger we face in our day-to-day lives. Even if you are familiar with all the classic warning signs, your online safety is not guaranteed….
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PAYG Instalments: What Are They All About?
PAYG (Pay-As-You-Go) instalments are a form of pre-payment for your income tax obligations. The amounts you paid in your instalments will be credited to you on your tax return. If…
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Shareholders Agreement: a Must-Have to Reach Common Goals
If you’re going into a business with others, we strongly encourage you to put a decent Shareholders Agreement in place. When you plan your venture, your thoughts are most likely…
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What to Consider When Planning a Significant Acquisition? Large Transactions and Tax
People plan significant acquisitions from various angles. But large transactions, such as purchasing expensive equipment, taking out strategic lease, investment property or holiday house, may have different tax implications. However,…
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Navigating Succession Planning and Exit Strategies
Succession planning and exit strategies are vital for your business’s growth. A good plan guarantees a new owner’s success and lets you leave on your own terms, be it due…
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Boosting Australia’s Game Development Industry: Digital Games Tax Offset
The Australian Government has recently introduced the Digital Games Tax Offset (DGTO). This initiative provides eligible game developers with a 30% refundable tax offset for qualifying Australian development expenditure starting…
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Understanding Student Loans System in Australia
Universities and other facilities offer a myriad of different student loans and means in which to pay for higher education. As higher education becomes ever more important in opening up…
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Medicare Levy Surcharge – What It Is and How to Avoid It
The Medicare Levy Surcharge is an extra tax paid by higher earners who do not hold private hospital cover. It is settled through your tax return, and for many people basic hospital cover costs less than the surcharge itself.
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Superannuation Guarantee rise
An announcement from July 2023, when the SG rate rose to 11%. The rate has since reached 12%, and since 1 July 2026 super is paid on each payday rather than quarterly.
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How to Protect Yourself from Tax Scam?
How to Safeguard Your Finances During Tax Season (and not only)? With tax time just around the corner, scammers are stepping up their game by impersonating the Australian Taxation Office…
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End of Low & Middle Income Tax Offsets in 2023
End of Low & Middle Income Tax Offsets The Low and Middle Income Tax Offset (LMITO) has been a significant benefit for many Australian taxpayers over the past few years….
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Small Business Tax Management: Driving Success Through Effective Financial Strategies
Why Small Business Tax Management is Essential for Growth Tax planning is a critical aspect of running a small business. It involves a comprehensive review of your business, personal goals,…
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How to Use Strategic Tax Planning to Reduce Your Taxes?
Tax planning is a vital aspect of financial management that allows individuals and businesses to optimise their tax liabilities. By strategically assessing and organising their financial affairs, taxpayers can legally…
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Tax Return 2023 – Useful Tips from ATO
As tax season approaches in Australia, it’s important to be aware of the Australian Taxation Office (ATO) guidelines when it comes to lodging your tax return. In this post, we…
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Work from Home? Learn about 2023 Tax Return Changes for WFH Employees
The Australian Taxation Office (ATO) has announced some major tax changes affecting the millions of Australians who work from home. These changes will alter the way in which individuals can…
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Tax Offsets in 2023 – Introduction
What are Tax Offsets or Tax Rebates? Tax offsets, or rebates, are ways in which you can lessen the tax on your taxable income. They are different to tax deductions,…
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The New Toll Relief from July 2023
The New Toll Relief from 1 July 2023 We all look forward to New Years, with parties, food, and fireworks. This new financial year has plenty to offer our clients…
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The Research and Development Tax Incentive – 2023 Overview
R&DTI – What is it about? The Research and Development Tax Incentive (R&DTI) offers companies offsetting eligible R&D activities costs. It was developed to encourage companies to innovate and grow,…
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Understanding Australian Backpacker Work and Holiday Tax in 2023
Australia has got a reputation in the backpacking world for its culture, scenery and people. Holiday labor is also pretty integral to many of our farms and other seasonal industries….
Read more →$1,000 SafeWork Small Business Rebate
The SafeWork NSW Small Business Rebate is a $1000 rebate for small businesses who purchase and install eligible safety equipment and other safety related products. The rebate is designed to…
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Small Business Technology Investment Boost and Small Business Skills and Training Boost
As part of the 2022–23 Budget, the Government announced it will support small business through the following new measures – Small Business Technology Investment Boost and Small Business Skills and…
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Financial services – partnership with Pulse Markets
This year, Business Tax & Money House is putting Money in the spotlight. Over the years, we’ve helped setting up hundreds of businesses and helped with their growth and success….
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Director ID
Director ID is your unique identifier to link you to all the directorships you hold in Australia. It is a new initiative of the government to eliminate fraudulent directorships, and…
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We’re moving our Bondi Junction office
After 6 years on 78 Spring Street, we’ve outgrown this office, but still love the location. We’re moving not more than 200 meters away, so we are still in a…
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Coronavirus update
Ahead of the challenging time, we want to assure you that will continue providing our services to you, just in a different fashion. Yours and our Team’s safety is our priority….
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Is a partnership the right business structure for you?
If you’re thinking about going into business with a friend or family member, you’ll want to understand the partnership structure before you get too immersed in the other exciting aspects…
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Court ruling finds Australia’s backpacker tax illegal (for some)
Around 150,000 backpackers travel to Australia every year on working holiday visas, with many finding work in the farming and hospitality industries. And now, in what’s being hailed as a…
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The sole trader structure: Is it right for you?
If you’re thinking of starting up the million-dollar business idea you’ve always dreamed of, you may want to prioritise structural business decisions before you get too carried away buying merch,…
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What can you actually claim on tax?
With the EOFY deadline finally here, getting prepared for your tax return should be your top priority if you want the best return possible. This means it’s time to stop…
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Why it’s never too early to prepare for tax time
It’s amazing how quickly tax time rolls around. One minute you’re buying gifts for Christmas and enjoying the Australian summer, and the next it’s time to exercise your brain as…
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Single Touch Payroll for all employers
From July 1 2019, all businesses must use single touch payroll.
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The rise of self-managed super
What type of superannuation fund is appropriate for your needs?
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How to get your super back when you leave
If you’re leaving Australia, you may be eligible to get your super.
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How to prepare for your tax return in 2023
Please read this handy checklist before your appointment.
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How to get a bigger tax refund
Are you a traveller? Here’s how to maximise your return.
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