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For business owners, tax planning isn’t just about meeting obligations—it’s a powerful strategy to minimise tax liability, improve cash flow, and keep your business financially healthy. Without a proactive approach, you may be paying more tax than necessary or scrambling to meet tax deadlines.
The good news? With smart tax strategies, you can legally reduce your tax burden while ensuring compliance with the Australian Taxation Office (ATO). Here are some essential tax planning tips every small business should consider.
One of the easiest ways to lower your tax liability is by maximising your deductions. Many business expenses can be claimed, but knowing what qualifies is key.
Common Tax-Deductible Expenses Include:
✔️ Office supplies and equipment
✔️ Work-related travel expenses
✔️ Home office costs (if you work remotely)
✔️ Vehicle expenses (if used for business)
✔️ Professional development and training
✔️ Business insurance premiums
To ensure you’re maximising deductions, keep accurate records and maintain proper documentation, such as receipts and invoices. A well-organized bookkeeping system makes tax time much smoother.
And, remember for more tailored advice to what you can deduct, the Attune team is here to help.
Strategic investments can also reduce your taxable income. One common example is superannuation contributions. By making additional contributions to your super fund (within contribution limits), you can benefit from tax concessions while growing your retirement savings.
Another key opportunity is the instant asset write-off scheme, which allows small businesses to claim an immediate deduction for eligible business assets. Whether it’s new machinery, office furniture, or IT equipment, investing in assets before the end of the financial year can provide tax benefits while upgrading your business.
Our team is perfectly placed to guide you through these and other investment types that can improve your tax position – we’re just a phone call away (1300 866 113).
Managing GST and PAYG (Pay As You Go) installments can be overwhelming, but staying on top of them prevents unexpected tax bills. Considering where we are in the financial year, being prepared now can save considerable heartache over the coming months.
Best Practices for BAS & PAYG:
✅ Use cloud accounting software like Xero or MYOB to track your GST liabilities in real-time.
✅ Set aside funds for quarterly tax obligations to avoid cash flow stress.
✅ Review your PAYG instalments regularly to ensure you’re not overpaying or underpaying.
By planning ahead and making small, consistent payments, you’ll avoid last-minute surprises and keep your business finances in check.
Your business structure has a significant impact on how much tax you pay. A sole trader, partnership, company, or trust all come with different tax rates, obligations, and benefits.
For instance, sole traders are taxed at individual income tax rates, while companies benefit from a fixed corporate tax rate. Trusts, on the other hand, offer flexibility in distributing income to beneficiaries.
When should you review your business structure? If your business is growing, restructuring could help you reduce liability and improve tax efficiency. Speaking to the Attune team will ensure you’re making the best decision based on your long-term goals – get in touch if you’d like make sure your goals fit with your business structure.
Smart timing of income and expenses can make a big difference in how much tax you owe.
Tax Timing Strategies:
📅 Deferring Income – If your cash flow allows, consider delaying invoices until the next financial year to reduce taxable income for the current year.
📅 Accelerating Expenses – Prepaying expenses like rent, insurance, or supplies before June 30 can help lower your taxable income for the current year.
📅 End-of-Year Planning – Don’t leave tax planning to the last minute! Reviewing your finances before tax season gives you time to implement smart strategies.
Effective tax planning is about working smarter, not harder. By understanding deductions, making tax-effective investments, staying on top of BAS and PAYG, optimising your business structure, and strategically timing income and expenses, you can significantly reduce your tax burden.
So if you’d like expert guidance with tax planning, Attune Advisory is here to help! Our team specialises in creating tailored tax strategies to help your business grow while staying compliant.
Call us on 1300 866 113 or send us an email to get started today – you’ll be glad you did!
For small business owners, managing cash flow effectively is critical to sustaining operations and paving the way for growth. While it’s tempting to focus solely on profit, cash flow—the movement of money in and out of your business—determines whether you can keep the lights on, pay staff, and invest in future opportunities.
Mismanaging it can lead even the most successful business into financial trouble. Here are some practical tips every small business owner should know to maintain financial stability and stay ahead.
While profit indicates how well your business is performing overall, cash flow reflects its ability to operate on a day-to-day basis. Positive cash flow ensures you can cover expenses like rent, salaries, and inventory. Negative cash flow, on the other hand, could mean trouble—no matter how profitable your business appears on paper.
By understanding the fundamentals of cash flow and tracking it consistently, you’ll have a clearer picture of your financial health and be better prepared to make strategic decisions.
1. Track Cash Flow Regularly
The first step to managing cash flow effectively is consistent tracking. Use accounting software or tools that automatically monitor your inflows and outflows. This provides a real-time view of where your money is coming from and where it’s going, helping you spot potential issues before they escalate.
2. Forecast Cash Flow
Cash flow forecasting allows you to predict future inflows and outflows based on historical data and upcoming expenses. For example, if you run a seasonal business, forecasting can help you prepare for slower periods by allocating resources during peak revenue months.
3. Encourage Faster Payments
To improve receivables, incentivise your clients to pay invoices early. Offer small discounts for quick payments or implement clear, enforceable payment terms. Prompt payments ensure you have the cash you need when you need it.
4. Negotiate Payment Terms with Suppliers
If cash flow is tight, consider extending payment terms with your suppliers. Many suppliers are willing to negotiate terms, especially for long-term clients. Stretching payments by even a week or two can create breathing room in your budget.
5. Build a Cash Buffer
Cash flow emergencies, such as equipment failure or an unexpected dip in sales, can throw a spanner into your operations. Build an emergency fund or line of credit to cover these unexpected costs, ensuring your business can weather short-term challenges.
The size of your business and the resources available play a major role in cash flow management strategies. For smaller businesses with fewer staff, manually tracking and forecasting cash flow might be manageable. However, as your business grows, cash flow becomes more complex, requiring automated tools, a skilled hire or professional input from an accounting team like Attune Advisory. You may even find it appropriate to engage the Attune team to assist with your cash flow management on an ongoing basis to help relieve internal pressures.
Smaller operations may also lack the financial buffer that larger businesses have, making it even more crucial to stay on top of cash flow. For instance, small businesses are often more vulnerable to delayed payments from customers, which can disrupt operations. Recognising the specific challenges your business size presents will help you choose the right strategies to stay ahead.
A Gold Coast café owner was struggling with irregular revenue due to seasonal changes. After implementing cash flow forecasting, they aligned supplier payments with peak trading weeks and negotiated longer terms for off-season purchases. This proactive approach reduced financial stress, allowing the business to invest in marketing during slower months and grow their customer base, even in the slower periods.
While there are plenty of steps you can take to improve cash flow, having an expert in your corner can make all the difference. The Attune Advisory team are perfectly equipped to help you identify gaps, optimise processes, and build strategies tailored to your business needs.
Partner with Attune Advisory
At Attune Advisory, we understand the challenges small businesses face when it comes to managing cash flow. Our tailored services ensure your business not only survives but thrives—even during challenging times.
Contact our team today on 1300 866 113 or send us an email to start the conversation, and take the stress out of managing your cash flow – you won’t regret it.
For small businesses, bookkeeping is an essential task—but is it better done in-house or outsourced? The answer can depend on the size of your business and the resources you have available internally.
So, let’s explore the benefits, drawbacks, and factors to consider when deciding whether outsourcing bookkeeping is right for you.
• Save Time: Free yourself to focus on growing your business rather than managing day-to-day financial records.
• Expertise on Tap: Gain access to qualified professionals who stay updated on the latest tax laws and compliance requirements. This helps you avoid possible mistakes where legislation might be a factor.
• Cost-Effective: Avoid the expense of hiring full-time staff, training costs, and ongoing software expenses by only using a bookkeeper when required.
• Scalability: Easily adjust services as your business grows or experiences fluctuations in financial workload.
• Less Direct Control: You’ll need to trust an external provider with your financial data and rely on their timelines.
• Data Security Risks: Sharing sensitive information means you must choose a reputable provider with strong security measures in place.
• Dependency on External Partners: Changes or disruptions in the outsourcing partner’s operations could impact your bookkeeping processes.
As you can see, we suggest using a capable, reputable bookkeeper who can have all the above bases covered if you’re looking to outsource. Speak with the Attune team if you’re looking to outsource and we can guide you in the right direction.
The choice to outsource bookkeeping often depends on your business’s internal capabilities:
• Small Businesses with Limited Resources:
If you’re a solo operator or have a small team, bookkeeping can take valuable time away from revenue-generating activities. Outsourcing becomes a practical solution that provides professional service without the overhead of in-house staff. Conversely, if your operation is small enough, bookkeeping might be in your own job description for a time, but keep outsourcing in mind as you grow.
• Medium-Sized Businesses:
Growing businesses with increasing transaction volumes may find that internal teams are stretched too thin. If hiring and training a dedicated bookkeeper is too costly, outsourcing can offer scalable support tailored to your needs. Deepening your team with an external party to help can help with growth too.
• Businesses with Established Internal Teams:
For companies with the budget and structure to employ in-house bookkeepers, outsourcing may not be necessary. However, it can still be useful during busy periods, such as end-of-year reporting or tax season. In these situations, discuss your outsourcing needs with the Attune team so we can help guide you on the best strategy.
Consider outsourcing bookkeeping if:
• Financial tasks are consuming too much of your time.
• You’re missing deadlines or struggling to stay compliant.
• Your business is growing, and finances are becoming more complex.
• You lack the internal expertise or resources to handle bookkeeping efficiently.
At Attune Advisory, we understand that every business is unique. Our tailored Business Process Outsourcing can help alleviate your workload while ensuring accuracy, compliance, and peace of mind.
Whether you’re growing, scaling, or simply looking for more time to focus on your business, we’re here to help. Contact our team today on 1300 866 113 and take the stress out of managing your books or send us an email to start the conversation, you won’t regret it.
As the new year approaches, business owners face an ever-changing landscape. Preparing for 2025 involves adopting forward-thinking strategies that address technological advancements, evolving consumer expectations, and economic uncertainties. Whether you run a small business or a growing enterprise, future-proofing ensures that your business thrives in the face of challenges and opportunities.
Although this sentiment is true year round (every year), we thought we’d put together a brief guide to explore some actionable strategies to position your business for success in 2025 and beyond.
Technology continues to revolutionise industries, and staying ahead means leveraging the latest innovations. Key areas to focus on for your business could include:
1. Artificial Intelligence (AI) Integration
AI-driven tools, such as chatbots and predictive analytics, can streamline operations, enhance customer experiences, and provide actionable insights. For example, automating routine tasks like data entry allows your team to focus on more strategic initiatives.
2. Cloud Computing
Cloud-based systems offer flexibility and scalability, ensuring seamless operations regardless of physical location. Transitioning to cloud platforms can reduce costs, improve security, and facilitate collaboration among remote teams.
3. Cybersecurity Measures
As businesses adopt more digital tools, protecting sensitive information is crucial. Investing in robust cybersecurity solutions helps safeguard your data against increasing threats.
Sustainability is no longer just a buzzword—it’s a business imperative. Companies prioritising eco-friendly practices are better positioned to attract eco-conscious consumers and gain a competitive edge, not only that, but you’ll likely find tax incentives for taking steps to improve your businesses environmental impact whether they be deductions or indeed R&D Grants …
1. Reduce Carbon Footprints
Simple changes, like adopting energy-efficient equipment or sourcing from sustainable suppliers, can significantly reduce environmental impact.
2. Circular Economy Participation
Explore opportunities to reuse, recycle, or refurbish materials, reducing waste while demonstrating your commitment to the environment.
3. Transparent Reporting
Consumers and investors increasingly favour companies that report on their environmental, social, and governance (ESG) practices. Highlighting your sustainability efforts can strengthen your brand reputation.
Economic shifts and potential regulatory changes make financial planning more critical than ever. Smart preparation can help you navigate uncertainty while capitalising on new opportunities.
1. Tax Readiness
Stay informed about upcoming tax reforms and incentives for businesses. Leveraging these changes can improve cash flow and optimise your tax strategy.
2. Scenario Planning
Build financial models that account for potential disruptions, such as supply chain interruptions or fluctuating interest rates. Scenario planning equips your business to respond effectively to unexpected challenges.
3. Diversify Revenue Streams
Expanding your offerings can mitigate risk and stabilise income. For example, explore complementary products or services to tap into new customer segments.
The Attune team are at the ready to help in each of these areas, with an experienced team to guide you into the future with strategic thinking, so if you’re planning for the future, speak with us to learn where we can help you get to as the new year kicks off.
Customer expectations continue to evolve, making it essential to refine your engagement strategies. Some of these may be linked to using Ai, others may be a simple shift in one or two of your daily processes …
1. Personalised Experiences
Use data to deliver tailored recommendations and services. Personalisation fosters loyalty and enhances customer satisfaction.
2. Omnichannel Communication
Ensure customers can reach your business through multiple channels, from social media and email to chat support and phone lines.
3. Loyalty Programs
Rewarding repeat customers encourages retention and creates advocates for your brand. Simple gestures, such as discounts or exclusive offers, go a long way in fostering long-term relationships.
As businesses adopt new technologies and adapt to changing markets, investing in your employees’ skills is essential. Not only will some upskilling broaden your businesses capabilities, but also keep your employees happy at work!
1. Training and Development
Offer training programs to upskill employees in areas like digital literacy, leadership, and problem-solving.
2. Flexible Work Models
The pandemic highlighted the importance of flexibility. Offering hybrid or remote work options can improve employee satisfaction and productivity.
3. Fostering a Growth Mindset
Encourage employees to embrace change and continuous learning. A culture of innovation helps your team adapt to evolving demands.
Preparing for 2025 is about more than just reacting to changes—it’s about anticipating them and positioning your business for growth. By embracing technology, sustainability, financial resilience, and customer-centric approaches, your business can not only survive but thrive in the coming year and years beyond.
At Attune Advisory, we specialise in helping Australian businesses build long-term success through tailored advice that can really make a difference. Contact our team today on 1300 866 113 to discuss strategies for future-proofing your business or send us an email to start the conversation, you won’t regret it.
Missing a BAS (Business Activity Statement) deadline can feel overwhelming, but it’s not the end of the world. For Australian business owners, staying on top of BAS is crucial to maintaining compliance and avoiding unnecessary penalties. The good news? With the right guidance and steps, you can minimise the stress and even avoid repeat mistakes in the future.
In this guide, we’ll walk you through what happens if you miss a BAS deadline, what actions to take, and how to stay ahead in the future.
The BAS is a critical part of business operations, requiring you to report and pay your Goods and Services Tax (GST), Pay As You Go (PAYG) withholding, and other taxes. Late lodgement or failure to lodge can result in penalties and interest charges from the ATO (Australian Taxation Office). Beyond financial consequences, repeated late lodgements may flag your business for further scrutiny.
Staying on top of BAS deadlines ensures smooth cash flow, compliance with tax laws, and avoids disruptions in operations.
Missing a BAS deadline triggers the ATO's automated penalty system. Key consequences include:
• Failure to Lodge (FTL) Penalty: This fine is calculated based on penalty units. The longer you delay, the more it costs.
• General Interest Charge (GIC): The ATO applies interest to any outstanding amounts, compounding daily.
• Possible Audit Risks: Chronic late payments may increase the likelihood of an audit, creating additional stress for your business.
Understanding these implications is the first step to tackling a missed deadline.
If you’ve fallen behind, don’t panic. Here’s what to do:
1. Contact the ATO: Inform them of the delay and seek an extension where possible. Proactive communication can sometimes result in leniency.
2. Lodge ASAP: Even if you can’t pay the full amount immediately, lodge your BAS to minimise penalties and discuss an extension with either your Attune Advisory accounting partner or by contacting the ATO directly.
3. Apply for Penalty Remission: If you have a genuine reason for missing the deadline, you can request the ATO to reduce or waive penalties.
4. Set Up a Payment Plan: The ATO allows you to set up payment plans to settle your debt gradually.
Avoiding late lodgements in the future is all about systems and support:
• Automate Reminders: Use accounting software or set calendar alerts to remind you of BAS due dates. With Attune on your side, you’ll be part of our reminders where we may request information pertaining to your BAS in the lead up to lodgement time.
• Delegate the Task: Outsourcing BAS preparation and lodgement to the Attune team, frees you to focus on your core business – you won’t miss a BAS with help from our team.
• Regular Record-Keeping: Keep financial records up to date to avoid last-minute stress.
Late BAS lodgements can be a headache, but they don’t have to derail your business. At Attune Advisory, we specialise in helping business owners like you navigate the complexities of tax compliance. Whether you’ve missed a deadline or want to ensure it doesn’t happen again (or even once!), our team can assist with everything from lodgements to penalty remission requests.
Don’t let missed deadlines hold you back - reach out to Attune Advisory today for expert support in managing your BAS and staying compliant on 1300 866 113.
Investment properties are a strategic way to build wealth, but as an owner you have an opportunity to maximise the benefit by understanding the valuable tax-saving opportunities available. By understanding and applying (the correct) available deductions and strategies, you can significantly improve your financial returns.
Whether you’re just starting or already managing a portfolio, exploring these benefits can ensure your investment performs at its best.
With that in mind, we thought we’d create an overview to get you started before you speak with the Attune team about your investment property goals and subsequent tax opportunities…
As a property investor, you’re entitled to claim several common expenses to reduce your taxable income:
• Mortgage Interest: The interest portion of your loan repayments is deductible, providing substantial savings, especially early in the loan term.
• Council Rates and Insurance: Essential ownership costs like council fees and landlord insurance can also be claimed as deductions.
• Property Management Fees: If you use a property manager, fees for tenant placement, rent collection, and inspections are deductible, making outsourcing more affordable.
Understanding and claiming these deductions consistently ensures you’re not leaving money on the table and strengthens your financial position. Setting your structure up correctly from the start will go a long way in ensuring you’re eligible for deductions that fit within your strategy.
Beyond the obvious, there are lesser-known deductions that could add up:
• Depreciation on Fixtures and Fittings: Assets like appliances, blinds, and carpets lose value over time. A depreciation schedule, prepared by a quantity surveyor, allows you to claim this annual loss in value.
• Prepaid Expenses: If you’ve prepaid for repairs, services, or insurance, you may be able to claim the full amount within the current financial year, depending on timing.
• Advertising Costs: Any expenses associated with finding tenants, including online listings, signage, or agent fees, are deductible.
If you’re after advice on how these deductions might apply to your investment(s), chat to the Attune Advisory team and we can assist with implementing them.
The distinction between repairs and improvements has a major impact on your deductions:
• Repairs: Work that restores the property to its original state, such as fixing plumbing, repainting, or repairing an appliance, can be claimed immediately in the financial year the expense occurs.
• Improvements: Changes that enhance the property’s value, such as building a new deck or upgrading a kitchen, are capital expenses. These can only be claimed over time as part of the property’s depreciation.
Understanding this difference ensures accurate reporting and compliance while maximising your returns and once again, the Attune team can help you put together both current deductions and a depreciation schedule that assists with forecasting the benefits you’re receiving from your investment.
When selling your property, planning for CGT is essential to protect your profits:
• Holding Period: By holding the property for at least 12 months, you qualify for a 50% discount on the taxable gain, significantly reducing the tax burden.
• Improvement Records: Keep detailed records of renovations and improvements, as these costs can increase the property’s cost base and reduce your taxable capital gain.
Proactive CGT strategies allow you to retain more of your hard-earned profit.
Navigating the tax complexities of investment properties can be challenging, but expert advice makes all the difference. At Attune Advisory, we specialise in helping property owners unlock the full potential of their investments. From identifying deductions to long-term CGT planning, our tailored strategies ensure your portfolio works harder for you.
Ready to maximise your property’s performance? Contact Attune Advisory today on 1300 866 113 and take the next step toward achieving your financial goals.
In the rapidly evolving landscape of accounting, AI and automation are emerging as powerful tools reshaping how businesses manage their finances. For Australian small businesses and accounting firms alike, these technologies are not just about efficiency—they’re redefining the way compliance, reporting, and decision-making are approached.
With that in mind we thought we’d take a closer look at how AI and automation are driving change in Australian accounting and why it matters for your business.
AI and automation have already started transforming traditional in-house accounting practices. Tasks that were once time-consuming and prone to error, like data entry, payroll, and invoice processing, can now be streamlined using software powered by machine learning. Platforms such as Xero, MYOB, and QuickBooks are incorporating AI-driven features, enabling businesses to automate routine processes with ease.
For Australian businesses, this transformation is particularly timely. With increasing regulatory requirements from the Australian Taxation Office (ATO) and growing pressure to stay competitive in a tight market, these tools provide an opportunity to reduce administrative burdens on your business and focus on strategic decision-making.
To be sure, these tools don’t replace the need for a qualified accountant, like the team at Attune Advisory getting involved. With Attune, you’ll have the right strategies and structures set up to take advantage of what AI has to offer, bolstering your business from the bottom up.
1. Enhanced Compliance and Accuracy
With the complexity of tax laws and frequent updates to compliance regulations, mistakes in reporting can be costly. AI-powered tools can analyse financial data in real time, flag anomalies, and ensure businesses meet their compliance obligations without the risk of human error. This is particularly useful during BAS (Business Activity Statement) lodgements or end-of-financial-year reporting.
2. Cost and Time Efficiency
Automating routine tasks like reconciliation or invoice tracking can save hours each week. For small businesses, this means fewer resources spent on admin work and more time available to focus on growth. This also means that when you liaise with the Attune team, the data you deliver will be accurate and ready for our assessment so we can advise you on the best path forward.
3. Insights Through Data Analysis
AI doesn’t just crunch numbers; it provides actionable insights. For instance, predictive analytics can help business owners identify cash flow patterns or anticipate tax obligations, allowing for more proactive financial planning. Use these insights as a base when you speak with your accountant to build an ever-better strategy as you settle into using AI tools as part of your in-house accounting practices.
4. Better Decision-Making
Real-time reporting powered by automation allows businesses to make informed decisions faster. For example, a retail business in Sydney could use AI tools to track sales trends and adjust inventory investments during peak seasons based on data delivered.
Australian businesses are already benefiting from AI advancements. For example:
• Payroll Compliance: New Single Touch Payroll (STP) requirements introduced by the ATO can be challenging to navigate. Automation tools integrated with payroll software ensure timely, accurate reporting to the ATO, reducing the risk of penalties.
• Audit and Risk Assessment: AI tools are being used to detect irregularities in financial records, offering businesses peace of mind by flagging potential issues before they escalate.
• Sustainability Tracking: Some platforms now integrate ESG (Environmental, Social, and Governance) tracking, helping businesses stay accountable to sustainability goals.
While the benefits are substantial, businesses must be mindful of the challenges associated with AI and automation:
• Initial Investment: Implementing these tools may require upfront costs, though the long-term savings often outweigh this. We can help you assess what’s financially viable and valuable to your business when we speak.
• Security Concerns: Protecting sensitive financial data is paramount. Businesses must ensure their software complies with Australian privacy laws.
• Human Oversight: Automation is not infallible. Regular oversight by experienced accountants remains essential to ensure accuracy and interpret complex scenarios – again, that’s where we come in.
For businesses wondering how to integrate AI and automation into their accounting practices, professional advice makes all the difference. Attune Advisory specialises in working with businesses to identify the right tools, implement systems effectively, and ensure compliance with Australian regulations.
Whether you're looking to streamline payroll, simplify tax reporting, or harness data for smarter decision-making, Attune Advisory can guide you every step of the way.
AI and automation are no longer optional—they’re essential for businesses that want to stay competitive in an increasingly digital world. By leveraging these technologies, you can reduce costs, enhance accuracy, and free up time to focus on what matters most: growing your business.
If you’re ready to explore how AI can transform your accounting, get in touch with Attune Advisory today on 1300 866 113. Let’s work together to build a smarter, more efficient future for your business.
Capital Gains Tax (CGT) can be a source of confusion for many property owners. If you're planning to sell a property, understanding CGT is crucial to avoid surprises and make informed financial decisions that align with your future plan and strategies.
With that in mind we thought it wise to provide a guide to help you navigate the key aspects of CGT so that when you’re ready to speak with the Attune team about your situation, you’re armed with some of the knowledge to engage meaningfully.
Let’s jump in…
Contrary to popular belief, CGT is not a standalone tax with a flat rate. Instead, it is the tax you pay on the assessable gain from selling a property. This assessable gain—essentially your taxable profit—is influenced by factors such as how you’ve used the property over time.
After calculating the assessable gain, this amount is added to your taxable income from all sources, including employment and investments. The total is taxed at your marginal income tax rate. Keep in mind, however, that different rules apply if the property is owned by a company, superannuation fund, or trust, as these entities are subject to varying tax concessions. The Attune team can still help with this kind of property ownership, so reach out if you’re looking for tailored advice as part of your property ownership goals.
The timing of CGT can be tricky. It is triggered by the contract date rather than the settlement date. For example, if you sign the contract in one financial year but the settlement occurs in the next, you may need to report the gain and pay CGT earlier than expected. Understanding these timelines is also crucial for qualifying for CGT discounts, such as the 50% reduction for properties held for more than 12 months.
With timing considered, we recommend speaking with the Attune team as you prepare your sale rather than afterward – we can help ensure you’re set up to deal with any tax implications at a time that fits your financial strategy.
Your main residence may be exempt from CGT, but this depends on how the property was used. If the house has been rented out, left vacant, or used as a base for a home business, partial CGT liability might apply. However, if you’ve lived in the property as your primary residence for the entire ownership period, you’re likely exempt from CGT.
To ensure you’re on the right track, keep detailed records of how the property has been used. These records will help clarify your position if the Australian Taxation Office (ATO) reviews your tax filings.
Navigating CGT rules becomes more complex for individuals with multiple properties or investment portfolios. Professional advice can help you make the most of available concessions and avoid unnecessary tax liabilities. An Attune tax adviser can also ensure you’re aware of timing considerations and eligibility for CGT discounts, so you’re best to speak with us early on.
If your property has appreciated in value, you could leverage that untapped equity for future opportunities. For instance, you might consider purchasing an investment property or enhancing your current property’s value through renovations. Understanding your equity position is a vital step in creating long-term financial stability.
While the fundamentals of CGT are straightforward, the specifics often vary based on individual circumstances. Timing, usage history, and ownership structure all play a role in determining your tax obligations. By seeking professional guidance from the Attune Advisory team and maintaining accurate records, you can approach property sales with absolute confidence and clarity.
If you’re considering selling a property or want to explore how CGT applies to your situation, contact the Attune team on 1300 866 113 – we are here to help you make the most of your tax position when it comes to property ownership.
Expanding your business internationally brings exciting growth opportunities but also complex tax considerations. At Attune Advisory, we understand that each jurisdiction has unique tax regulations that can affect your cross-border transactions and operations.
With that in mind, we thought we’d share how our services help streamline your international tax needs and guide you towards tax-efficient strategies.
When expanding offshore, understanding the local tax implications is essential. At Attune Advisory, we offer comprehensive support through our global network of expert advisers. We provide timely, responsive advice tailored to your business structure and international goals, ensuring compliance across various tax jurisdictions.
1. Strategic International Tax Planning
For businesses looking to expand globally, Attune Advisory can help navigate tax obligations and optimise international investments. This involves choosing the right type of entity, assessing cross-border tax implications, and planning tax-efficient structures, including regional hubs and holding companies. Whether you're investing in Australia or expanding overseas, our specialists can assist with crucial planning to minimise tax burdens and maximise returns.
2. Controlled Foreign Corporations (CFC)
When establishing operations overseas, understanding CFC regulations is essential to avoid unintended tax obligations. The Attune team can advise on how CFC rules may impact your business, helping you determine if any foreign income could be attributed back to your Australian operations and managing these outcomes effectively.
3. Non-resident Capital Gains Tax
If you’re a non-resident disposing of Australian assets, navigating capital gains tax can be challenging. Our team can advise on tax implications for non-resident entities selling Australian property or shares, ensuring you understand all tax consequences and structuring the transaction to be as tax-effective as possible.
4. Withholding Tax Obligations
Withholding tax often applies to cross-border payments like dividends, royalties, or interest. Attune Advisory provides guidance on withholding tax requirements to minimise tax liabilities on international cash flows, ensuring you retain more of your earnings.
At Attune Advisory, our goal is to provide you with an exceptional service experience regardless of the size of your business or area of operation. Our advisers in Australia work seamlessly with our international network to ensure consistent, high-quality advice across borders. This collaborative approach means you can rely on us for integrated tax solutions that align with your growth objectives, no matter where you operate.
Ready to simplify your international tax planning? Contact the Attune team today for expert guidance on expanding your business globally while managing tax responsibilities effectively. Contact the Attune team on 1300 866 113 – we are here to help you make the most of your growing business.
Running a small to medium-sized enterprise (SME) comes with its own set of challenges. Whether it's navigating financial complexities or scaling up, having a clear, strategic approach is essential.
This is where Attune Advisory’s Business Advisory Services come in, designed specifically to guide SMEs through these hurdles, offering insights, analysis, and strategic planning to help businesses thrive. Here’s a closer look at what our service entails, its benefits, and why you might consider Business Advisory for your business.
Business advisory is a consultative service where our experts work closely with you – the business owner – to address key aspects of operations, particularly financial planning, strategy, and management. It’s not just about number-crunching; it’s about creating a roadmap for success. Each business is unique, and therefore, our advisory services are tailored to fit individual needs and goals – there’s no one-size-fits-all approach applied here!
1. Real-Time Analysis & Financial Forecasting: Attune Advisory offers real-time insights into your financial standing, helping you see where you stand and where improvements can be made. With forecasting, you’re not just reacting to past data but proactively planning for the future, anticipating changes and making informed decisions.
2. Cash Flow Management & Reporting: For many SMEs, managing cash flow is a constant challenge. Attune provides tools and expertise to ensure that your cash flow remains healthy, helping you avoid financial pitfalls. With regular, detailed reporting, you’ll always have a clear picture of your financial health.
3. Strategic Planning & Growth Advisory: Growth can be difficult without the right strategy. Attune’s team works with you to devise actionable plans for expansion, whether it's scaling operations, entering new markets, or launching new products. We aim to amplify opportunities and minimise risks.
4. Risk Mitigation: No business is without risk, but having a strategy to handle potential setbacks can mean the difference between survival and success. Attune helps identify these risks early and provides solutions to mitigate them, ensuring your business remains resilient.
1. Expertise Without Full-Time Costs: Employing a full-time strategic or financial expert may be out of reach for many SMEs. Business advisory services offer access to the same expertise, but on a flexible, as-needed basis, making it a cost-effective solution.
2. Objective, Unbiased Insight: When you’re too close to the day-to-day operations, it can be hard to see the bigger picture. External advisors bring fresh, unbiased perspectives, identifying issues or opportunities you may have missed.
3. Customised Approach: One-size-fits-all solutions rarely work, and Attune Advisory knows that. We make it our mission to understand your specific goals, challenges, and market context, ensuring our advice is relevant and actionable for your business.
With a focus on collaboration, Attune Advisory becomes more than just a consultant—we become a partner in your business journey. Our team is committed to understanding your ambitions and building strategies to turn those ambitions into reality. Whether you need help streamlining processes, managing finances, or planning for future growth, our Business Advisory service can be the support system that makes the difference.
It's about more than just offering advice; it’s about providing a partnership built on trust, expertise, and a mutual goal of success.
• Enhanced Decision-Making: With a detailed understanding of your financial standing and strategic options, you’ll be better equipped to make crucial decisions.
• Efficiency Improvements: Streamlining operations and processes ensures that your business can run more efficiently, freeing up time and resources for core activities.
• Proactive Problem-Solving: By identifying potential challenges ahead of time, you can prevent them from becoming major issues down the line.
We’re here to provide the guidance, insights, and support you need to help your SME thrive so, reach out to the team today to discover how our Business Advisory Service can make a positive impact on your future.
Call the team on 1300 866 113 or send us an email to start the conversation – you’ll be glad you did.
