How Regular Financial Reviews Can Save Your Business and Boost Profitability
Are You Flying Blind in Your Business? Picture this: You’re in the cockpit of your business, but you’re flying through clouds. No clear readout. No dashboard. Just gut feeling and yesterday’s conversations to steer by. Sound familiar? Many business owners admit feeling this way. They’re hustling—handling sales, wrangling staff, putting out daily fires—while the vital […]
Understanding Australia’s 2 Hectare Capital Gains Tax Rule on Your Home Property
How a Dream Home Can Trigger a Hidden Tax Trap Picture this: You’ve finally secured your dream property—an idyllic home sprawled across a vast block of land, perhaps a tranquil rural retreat or an expansive lifestyle lot dancing on the city’s edge. For many Australians, this is the epitome of freedom and space. Room to […]
How Impala Accountants Foster Collaboration Between Bookkeepers and Accountants for Business Success
When Bookkeepers and Accountants Don’t See Eye to Eye Have you ever found yourself frustrated, stuck between your bookkeeper and your accountant? Maybe you’ve experienced the awkward finger-pointing, the miscommunications, or worse, those uncomfortable silences when a straightforward question gets bounced from one professional to the other. If so, you’re not alone. The rift between […]
ATO Cracks Down on GST Fraud: Latest Prosecutions and Penalties Explained
Are You in the Spotlight? What Operation Protego Teaches Australian Businesses about GST and Fraud Picture this: The clock’s pushing midnight, and you’re hunched over your desk, squinting at the last few lines of your BAS statement. You’ve already checked every digit twice, but that lingering sense of unease won’t go away. With the Australian […]
July 2025 Payroll Changes: What Every Australian Business Owner Needs to Know
Picture this: It’s early July 2025. The fluorescent lights are humming overhead as you juggle payroll processing, rework budget forecasts, and maybe even eye that next round of equipment upgrades. Suddenly, a wave of new regulations washes over your desk. Everything—from pay rates to superannuation contributions—has shifted seemingly overnight. Are you ready for what’s coming? […]
Capital Gains Tax: What Every Property Owner Needs to Know
Are you selling a property and confused about capital gains tax (CGT)? You’re not alone. Many people struggle to understand how CGT affects their real estate transactions. Let’s break it down. First, how much do you need to pay in CGT? Some think it’s a flat 30% or 40%, but that’s not correct. CGT isn’t […]
3-Step Process to Achieve Business Goals
As the new financial year begins, it’s the perfect time to assess your business finances. Whether you’re an experienced entrepreneur or new to goal setting, now is the time to establish clear objectives. Operating a business without clear goals is like paddling without direction—you’ll work hard but may not reach your destination. Here’s a simple […]
Q1 2025 Lodgment Dates: How to Stay Compliant
As we approach the first quarter of the new financial year, we must consider the upcoming ATO deadlines. While the dates are familiar, the ATO’s stance on non-compliance has tightened. Gone are the days of lenient extensions; now, late lodgments are met with penalties that are easier to incur and can be steep. Our experiences […]
2025 Individual Tax Rates: What Employer Need to Know
As the calendar turns to the 2024-2025 financial year, employers should brace themselves for notable changes in payroll, driven by updates in tax rates and superannuation contributions. These adjustments, kicking off from July 1, 2024, are poised to affect both your cash flow and your employees’ take-home pay. Reduced Tax Rates for Employees The first […]
Tax fraud worth 10s of millions of dollars
In the prime of youth, when the world seems ripe with opportunities, it takes a particularly bold—or foolhardy—individual to attempt a swindle against the government’s coffers. Today, I will unfold the tale of a daring business owner from the Riverina district of Australia, whose ambition led him to tangle with the Australian Tax Office (ATO) […]