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On 22 May 2025, the Coalition Government released its second budget, dubbed the fiscally conservative “no BS budget”.  Below are the key takeaways: Investment boost A new tax incentive that allows businesses acquiring productive assets to immediately deduct 20% of the cost of a depreciable asset in the year of acquisition, in addition to normal depreciation. This means businesses will face a…

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Budget 2025 - Investment Boost information sheet

The Government has announced its Budget for 2025 on the 22nd of May 025. The taxation measures in the Budget are: Introducing Investment Boost, a tax incentive that supports businesses with an immediate tax deduction for new assets first available for use on or after Budget Day (22 May 2025) – Investment Boost information sheet. Changes to Working for Families, including raising the abatement…

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Claiming expenses correctly to reduce your income tax bill

Claiming expenses To help reduce your tax bill, you can offset many of your business expenses against your business income. You’ll need to keep good records and hold on to your receipts. Getting a tax agent or accountant to complete your return may end up saving you money. They know all the things you can…

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The human advantage: thriving in a tech-driven world

We are currently witnessing a remarkable transformation driven by artificial intelligence (AI) and automation. While these advancements promise to enhance efficiency and speed, business owners must recognise the enduring importance of soft skills in their teams for long-term success and competitiveness. The World Economic Forum’s Future of Jobs Report highlights the disruption of skills we will…

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Why every small business should have a shareholders agreement

Starting a business is an exciting time. Maybe you’re launching a dream project with a close friend or teaming up with a few like-minded partners to bring an idea to life. But as thrilling as the early stages of running a company can be, it’s essential to think ahead – especially when it comes to setting up a shareholders agreement. Wondering, “Is this something my business really needs?”. The…

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What is Cost of Goods Sold (COGS)?

If you’re a small business owner or a startup founder, you’ve probably heard about Cost of Goods Sold (COGS). But what does it really mean, and why is it crucial for your business’s success? Understanding COGS isn’t just about accounting—it’s about making smart decisions for profitability, pricing, and more.  This blog walks you through everything you need to know about COGS, from defining the…

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Sole Trader's Annual Must Do Checklist

Sole Trader’s Must-Do Checklist These are your annual must-dos as a sole trader to keep your business running. You are responsible for completing your own taxes. This includes keeping track of your income and business expenses so you can accurately calculate all taxes due. Income tax ☐ It is essential that you have a basic understanding of key tax types. Tax 101 for sole traders ☐ Find out how…

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Setting and tracking financial goals for small business success

Setting financial goals for your business may be one of your most important responsibilities as a leader and business owner. Your financial goals serve as far more than wishful projections, they form the backbone of your road map for success, internal and external. Financial goals are something that every single business should possess regardless of its market, model or size. Let’s explore how…

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Why ‘The 7 Habits of Highly Effective People’ is still a must-read

It’s amazing how some books stand the test of time. Stephen Covey’s The 7 Habits of Highly Effective People is one of those. Although it was first published over three decades ago, its lessons are still incredibly relevant for business owners. You might wonder – how do these habits fit into today’s landscape of changing trends, tight deadlines, and constant distractions? The short answer is,…

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Business Valuation is more than just profits

When it comes to valuing a business, most people’s first thought is straightforward—profits. While financial success is undoubtedly a critical aspect, it’s far from the only factor determining a business’s true worth. For small business owners and entrepreneurs, understanding the complexities of valuation can offer a clear roadmap for sustainable growth and long-term success. Here is a fresh…

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Take Control of Your Business & Finances with Green Accounting & Business Advisor

Struggling with cash flow? Need expert guidance to scale your business? Or simply want to maximize your profits with smarter financial strategies? At Green Accounting & Business Advisor, we don’t just crunch numbers—we empower business owners with the tools, insights, and strategies they need to thrive. How We Help You Succeed:💡Business Coaching & Advisory – Get expert guidance tailored to your…