There are some changes to Australian law that will affect how accounting practices work with their clients from 1 July 2026. The government is extending anti-money laundering counter-terrorism (AML/CTF or AML) rules to cover accountants – the same type of identity checks your bank already does when you open an account. This applies to every […]
Anti-Money Laundering and Counter-Terrorism Financing Laws Read More »
With April marking the start of the Fringe Benefits Tax (FBT) year, we dive into why log books are so important, and how to keep a good one! What is Fringe Benefits Tax? A fringe benefit is like a payment to an employee, but in a different form to salary or wages. Fringe benefits tax
Why log books are so important Read More »
Payday Super is coming from 1 July, and employers need to act now to understand their obligations and get on top of cashflow. The biggest change to Australia’s super system in decades starts in just months. Here’s 9 actions you need to take to prepare for super changes for your employees and eligible contractors. Prepare
Everything you need to know about Payday Super Read More »
When it comes to paying your contractors, should they be treated differently? This topic can be confusing so we look at the differences between employees and contractors to make sure you’re on top of your employer obligations. Here are some common myths about contractors • if a worker has an ABN or business name they
Busting myths about employees vs contractors Read More »
With many people starting to slow down for the year and preparing to enter holiday mode, there are a few simple things you can do now to start 2026 off on the right note. While your competitors take their foot off the accelerator, you can hit the new year raring to go with some planning
Start 2026 feeling stress-free and confident in your business Read More »
Have you ever wondered just how serious it is not to pay the ATO a debt you owe? We break down what might happen if you don’t pay, and how to avoid racking up even more debt. Not paying the Australian Tax Office (ATO) IS a big deal, and recent changes mean that more people
What happens when you don’t pay ATO debt Read More »
With many businesses gearing up for their busiest period of the year, employing new staff is top of mind. We give business owners some practical tips for hiring new employees. New employees are a big decision Ultimate Tax and Advisory Managing Director Bobby Serval said taking on new staff was a big step, no matter
Tips for hiring new employees Read More »
Starting a new business can be equal parts exciting and daunting. The biggest question of all is – will it work? We chat with Ultimate Tax & Advisory Director Bobby Serval about some important things to consider before starting a business. Working out the demand The biggest factor of all for a new business is
Will my new business work? Read More »
Superannuation (super) is a long-term investment for Australians that grows over time to assist people with saving for retirement. This payment is a legal requirement of hiring employees and must be factored into your costs. Failing to pay super can lead to penalties, fines, and back payments through the ATO. Business owners must pay super
Why paying superannuation is so important Read More »
Australian taxpayers are being urged to think carefully about where they are receiving their tax advice this year, with a rise in people turning to AI and social media for tips. Complexities of the tax system Ultimate Tax & Advisory Managing Director Bobby Serval said the Australian tax system was complex, and artificial intelligence wasn’t
Why using AI and social media for tax advice is fraught with danger Read More »
