There are always lots of tax-related tasks to complete every EOFY, but as we move into the upcoming financial year, it is also worth getting to grips with new tax changes the Government’s election promises will usher in on 1 July, which we’ve outlined below. New 2025-2026 tax changes During the election campaign, the Labor…

Important: We’ve Updated Our Terms of Business. At VBD, we are committed to providing our customers with the highest standard of service and transparency. As part of this commitment, we have recently updated our Terms of Business to reflect changes in legislation and advancements in technology, including enhanced measures to address cyber security. We encourage…

Tax by Choice, Not by Chance. Why Blue-Collar Businesses in Newcastle Must Act Now When it comes to tax, there are two types of business owners: those who react and those who plan. If you’re running a blue-collar business in Newcastle-whether you’re a builder, electrician, concreter, or part of a trades-based team-you know how quickly…

Pandemic-era leniency is a thing of the past and the regulator is warning small and medium enterprises (SMEs) it is keeping an eye on them. Information is now published quarterly on the ATO’s SME focus areas webpage. The focus areas currently include – deductions and concessions, personal use of business income, operating outside the system…

From 1 July 2025, businesses and individuals will no longer be able to claim a tax deduction for interest charges imposed by the Australian Taxation Office (ATO). This change is now law and applies to two main types of ATO interest: the General Interest Charge (GIC) and the Shortfall Interest Charge (SIC). The new rules…

Cutting costs is arguably the quickest and easiest way to improve the profitability of your business. Introducing a cost-control system can bring immediate savings and ensure that you remain competitive in the longer term. Systematic cost control Start by identifying your major cost centres. These may be purchasing, production, sales and marketing, finance and administration.…

Preparing for the Fringe Benefits Tax (FBT) year-end is never a walk in the park and, with the ATO now using increasingly sophisticated data matching programs, it is more important than ever to get your return right. As part of the ATO’s post-pandemic campaign to improve taxpayer compliance and payment of tax debts, the ATO…

Granny flats: tax traps and tips With more older Australians looking to downsize and younger generations looking to get a foot on the property ladder, building a granny flat or a second dwelling in your backyard has become a more affordable solution. In 2023, CoreLogic analysis of residential properties in Sydney, Melbourne and Brisbane found…

The hidden drain of decision fatigue As we kick off the new year, many of us are excited to embrace fresh beginnings, set new goals, and maybe even tackle those pesky resolutions. But if you’re feeling more drained than invigorated, you’re not alone. In fact, one in every five adults worldwide has experienced general fatigue…

Understanding cash flow Understanding cash flow can be the difference between a solid long-term investment and a costly mistake, writes Michael Sloan. So do your research – and get good advice before you buy. What is negative cash flow? Oftentimes investment properties generate negative cash flow. That means, you must put money in each year…