Haven't lodged your tax return yet? What happens after 31 October If you lodge your 2025–26 tax return yourself, it is due on 31 October 2026. That date is a Saturday, so the ATO treats Monday 2 November 2026 as the due date. After that, you may face a failure to lodge penalty, and interest […]
Director Fees: What you need to know about compliance and tax Director Fee Facts Director fees are paid to members of a company’s board of directors or owners of private companies. Can be paid in cash, shares or other forms of remuneration. Directors are not employees so no salary. Amount of director fee determined […]
Accountant vs Financial Advisor: What’s the Difference and How to Choose Key Takeaways Roles Defined: Accountants primarily manage financial statements, taxes, and compliance, while financial advisors focus on wealth management, investment strategies, and guiding clients toward their financial goals. Services Offered: Accountants provide detailed financial record-keeping and reporting, ensuring that all legal obligations are […]
Types of Revenue Accounts Explained Key Highlights Revenue accounts are very important. They help track the money that a business makes. This includes main activities like product sales and other sources such as interest income. Keeping accurate revenue accounts is critical. This is needed for both legal and tax reasons. It also gives valuable […]
Sunk Cost vs Opportunity Cost: Your Guide Key Highlights Learn how sunk costs and opportunity costs affect smart choices in business. See real-life examples of how sunk costs can shape decisions and ways to avoid the sunk cost fallacy. Discover how opportunity costs impact investment choices and help businesses grow. Understand the key differences […]
Ultimate Guide to Calculating Year over Year Growth Key Highlights Learn the significance of Year over Year (YoY) growth in evaluating financial performance. Understand the key differences between YoY growth and other growth metrics. Gain insights into the components and formula for calculating YoY growth. Discover practical applications of YoY calculations in real-world scenarios. […]
Understanding Blackhole Expenditure in Australia Key Highlights Blackhole expenditure refers to specific business expenses that are not immediately deductible under standard income tax rules in Australia. Understanding these expenditures is crucial for businesses to optimise their tax positions and financial planning. The Australian Taxation Office (ATO) provides guidelines on claiming deductions for certain blackhole […]
Understanding Current and Non-Current Liabilities Key Highlights It is important to know the difference between current and non-current liabilities for good financial health. Current liabilities are debts that need to be paid within 12 months. Non-current liabilities are debts that last longer. Properly sorting and handling these liabilities helps with cash flow, investment choices, […]
Explaining Current Assets vs. Non-current Assets Key Highlights Current assets are short-term assets, expected to be converted to cash within a year, while non-current assets are long-term investments held for over a year. Current assets cover daily operational expenses and short-term liabilities, while non-current assets generate long-term revenue and strengthen the company's financial stability. […]
