Honestly? Earlier than most business owners expect. We usually recommend starting conversations around March or April—well before the June financial year end. That gives us time to look at what's actually happening in your business and make adjustments that matter. Waiting until June means you're stuck with whatever happened during the year.

Good question. A tax accountant typically handles compliance—lodging returns, keeping records straight, making sure deadlines get met. We do that too, but business taxation consulting goes further. We look at your business structure, cash flow patterns, and growth plans to find opportunities that reduce your tax burden legally while supporting where you want to go.

It varies wildly depending on your situation. We've seen businesses reduce their tax by anywhere from a few thousand to six figures annually. The biggest savings usually come from restructuring or catching deductions people didn't realize applied to them. But here's the thing—it's not just about paying less tax. It's about having more working capital when you need it.

There's no universal answer—it depends on your income level, risk profile, and future plans. Sole traders are simple but offer less protection. Companies provide liability separation and can be more tax-effective at higher income levels. Trusts offer flexibility for distributing income but come with complexity. We typically review your specific numbers before recommending a structure.

First off—don't panic. If your records are accurate and claims are legitimate, an audit is just paperwork. We handle the communication with the ATO, provide the documentation they need, and explain your position. Most audits resolve without penalties when everything's been done properly. That's why we emphasize getting things right from the start rather than scrambling during an audit.

Yes, but it needs to be legitimate and documented. The ATO has specific methods for calculating home office deductions based on how often you work from home and what expenses you incur. Keeping a logbook for a representative period helps establish the pattern. We help clients set up simple tracking systems so they're not scrambling to reconstruct records later.

This comes up constantly. You need enough to cover personal expenses and meet super obligations, but the split between salary and dividends (for companies) or distributions (for trusts) affects your overall tax position. We look at your personal tax bracket, business profitability, and cash flow to find a balance that works for both your lifestyle and tax efficiency.

The ATO requires you to keep records for five years. That includes income records, expense receipts, invoices, bank statements, and depreciation schedules. Digital records are fine—actually, we prefer them because they're easier to organize and retrieve. Cloud accounting software has made this much simpler than the old shoebox method, though we still see plenty of shoeboxes.