The Christmas and New Year shutdown period is one of the busiest times of the year and payroll mistakes made in December often do not show up until January when your team is already back at work.   Before you switch on your out of office reply, make sure your payroll is sorted so your staff receive the correct pay.  At Rise Accountants,  we support Brisbane and Queensland businesses every day with payroll compliance and setup. Below is the checklist every employer should comp

Buying a car through your business can offer tax advantages and practical benefits. Here are the main factors to consider so you make a well informed choice.    1. Understand How the Car Will Be Used   If there’s any private use, you may need to account for fringe benefits tax (FBT), unless the vehicle is exempt (such as certain utes and vans  used mainly for work).    The ATO looks closely at:  Whether the car is for work use  How much personal use there will be  Whether the

Brisbane is home to one of Australia’s fastest growing business communities. From construction to professional services, local businesses can scale quickly. Many are turning to MYOB Acumatica, the cloud based ERP platform formally known as MYOB Advanced, to support that growth.  Acumatica brings financials, payroll, inventory, projects and operational data together in one central system. However, many owners are unsure how to maximise the platform or interpret the large volum

While complex accounting and tax work should always be managed by professionals, there are several financial tasks that small business owners can and should do themselves.  Understanding these helps you make better decisions for the business and know exactly when it is time to call Rise Accountants.  If you ever need support, Rise Accountants  is here to help. We are your trusted small to medium business accountant in Brisbane, ready to provide personalised  advice  and pract

Now that December is here, many business owners are preparing client, supplier and employee gifts. Alcohol is always a popular choice, but the tax treatment varies depending on who receives it and how the alcohol is being gifted.  A common misconception that can lead to missed deductions or incorrect reporting, is that all alcohol gifts are tax deductible.  When You Can Claim Alcohol   Giving a sealed bottle of wine, whisky or champagne to clients or suppliers, the ATO normal

Buying a business can be a smart way to step into ownership with customers, systems and income already in place. But before you agree to anything, it’s essential to carry out proper checks so you know exactly what you’re buying. This guide covers the top five things to review during your due diligence, especially for those looking at small businesses in Australia.    1. Review the Financials Thoroughly   The financial history tells you whether the business is healthy and sust

Many Brisbane businesses are feeling the pressure of increased ATO activity this year. If you have an ATO debt or are worried about falling behind, understanding what the ATO is monitoring can help you take sensible steps before issues grow.  This guide outlines the main areas on the ATO’s radar right now and gives some workable suggestions to help you steady your tax position.  Groups Currently Receiving Closer ATO Review   Late or non-lodgers - Individuals or groups who del

If you own a holiday home and claim tax deductions for it, the ATO might start paying closer attention this year. The ATO are now using AI tools that show whether a property is truly being rented out or mainly used for personal use.  The old approach of listing a property occasionally and claiming full deductions is no longer safe.  Why the ATO Is Doing This   Holiday homes have become an area of concern because many owners claim large deductions even when the property is rar

The government is applying a   20% reduction to all eligible student and training debts that existed on 1 June 2025. If you have multiple loans, each one will receive its own 20 percent cut.  Why the Government Is Doing This   The reduction is part of a national effort to ease cost of living pressures. It aims to support Australians who are still repaying study loans, especially younger people who are managing major life costs such as careers, renting, starting families or sa

As the year winds down, many small business owners are preparing for a well deserved Christmas break. But before you switch off and enjoy some time with family, there are a few important tasks that can make your January return smoother and less stressful.  Preparing early helps you:  Protect your cash flow   Avoid compliance headaches  Stay visible even while you are away  Reduce last minute stress and rushed decisions  Step into the new year organised    Tighten Your Cash Fl

The holiday season is one of the busiest periods for Australian businesses, not just with customers but with payroll. With annual leave requests coming in, public holidays approaching and bonuses to process, employers often find themselves overwhelmed. A clear payroll plan helps you stay compliant, avoid costly mistakes and keep your team happy over Christmas and New Year.  Payroll errors often increase during the holidays, and the consequences can be expensive. Incorrect lea

Running a small business means managing sales, cash flow ,expenses and  bookkeeping  tasks every single day. Choosing the right accounting software is one of the smartest decisions you can make for your business.  Many small business owners choose software based on price alone or pick whatever their friends are using. This often leads to frustration because the system does not match the way their business works.  Here is why choosing the right accounting software is worth yo

Many business owners assume they are already claiming every deduction available, but every year the ATO updates rules, thresholds and allowable expenses. Missing even a few deductions can cost your business thousands of dollars.  Understanding what you can and should claim in 2025 helps you:  Reduce your tax bill legally  Improve cash flow  Stay compliant with updated ATO expectations  Avoid red flags that trigger audits  Plan for better financial management  A common mistake

Tax differences   As a sole trader, your profit is taxed at your personal marginal tax rate. A company, on the other hand, is taxed at a fixed rate of around twenty five percent, which becomes more beneficial as your plumbing business earns more.  Liability also differs. A sole trader is personally responsible for all business risks, which means your personal assets can be exposed. A company is a separate legal entity, giving you an added layer of protection, especially usefu

When an NDIS Provider Needs an ABN     1. If You Are Operating as a Business   If you plan to operate as a business even as a sole trader, you need an ABN. This applies whether you are working part time, full time or alongside other work.  Example: You provide support work to NDIS participants and issue invoices for your time. This is considered running a business so you should have an ABN before you send your first invoice.    2. Before You Invoice or Receive Payment   Norma

As the year wraps up, it is easy to get caught up in the festive season and forget about your business goals. Before you switch into holiday mode, it's worth taking a moment to reflect on how your business is currently performing and what you can do to start the New Year off strong.  A quick end of year check in can help you understand how your business is going and if you’re on track to be hitting your targets that were set at the start of 2025/26.  1. Book a Business Adviso

Buying a commercial or investment property through a discretionary trust (also known as a family trust) is a commonly used strategy in Australia. This structure can provide genuine advantages in areas such as asset protection, tax management and estate planning.  However, while the flexibility of a discretionary trust appeals to many investors, it is not without its complexities. From land tax surcharges to borrowing restrictions and ongoing compliance, there are several prac

The federal government announced amendments to its proposed superannuation tax changes. The original proposals (including one under Division 296) had raised concerns because they would have imposed higher tax burdens on large super balances and certain earnings, especially impacting high net worth individuals.  Initially, the proposal was for individuals whose superannuation balance exceeded $3 million. An extra tax of 15% (raising the tax rate from 15%, to 30%) would apply. 

After years of concern about delayed or unpaid superannuation contributions, the federal government has introduced the “Payday Super” legislation, a reform many in the industry say is long overdue.  What is Payday Super?   From 1 July 2026, employers will be required to pay superannuation guarantee (SG) contributions at the same time as wages or salary payments, rather than on the current quarterly basis.      Key details:   Super contributions must be received by the employe

Taking on commercial clients can mean more money, more consistent projects and a stronger reputation. But with that comes more paperwork, stricter compliance and a different level of professionalism.  Many tradies miss out on these opportunities not because of their skills, but because their business is not structured properly. Without the right foundation, you risk being overlooked for big contracts even if you are the best person for the job.    Choose the Right Business St