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As the regulatory landscape continues to evolve, it's crucial for small businesses in Australia to stay updated on new compliance requirements. One significant area is sustainability reporting due to the Australian government's introduction of mandatory sustainability reporting requirements. While these regulations may not directly apply to small businesses, understanding their implications is essential for maintaining strong commercial relationships and ensuring future compliance.

Having funds in superannuation is a great financial structure from a tax perspective. Despite this being a great vehicle to invest your money, you should be aware of the potential tax that applies to certain beneficiaries of your super upon your death.

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Discover the ATO's new compliance initiative targeting medium-sized and emerging businesses. Learn about the key areas of focus, including trusts, Division 7A, CGT concessions, and income reporting, to ensure your business meets its tax obligations and avoids common errors.

One of the fundamental rules for a self-managed superannuation fund (SMSF) is the general prohibition on borrowing.

Businesses are increasingly recognising the importance of sustainable practices to safeguard our planet for future generations. However, as the demand for sustainable products and services grow, so does the prevalence of greenwashing – a deceptive practice where businesses falsely claim to be environmentally friendly.

As we enter the final week of the financial year, here are some things to consider when it comes to your superannuation.

While Family business make up 70 per cent of the Australian economy, only 12 per cent makes it to the third generation. As the first and second generation work on and in the business, it’s crucial to try and keep it alive – to uphold the legacy and ensure the business thrives for future generations.

There exists a wide array of advantages that businesses can realise in integrating important Environmental, Social and Governance principles. These include reducing costs, improving operational efficiency, enhancing reputation, increased accountability, and attracting talent.

Some families spend a lifetime generating wealth and hope to financially set up future generations. However, when looking at Estate Planning, sometimes families only consider one generation at a time.

Franking credits – a cornerstone of the Australian tax system – often an underappreciated aspect of tax planning, represent a potent asset for investors, particularly as the fiscal year draws to a close.

Currently, businesses who meet reporting thresholds will need to report on material climate-related risks and opportunities, including metrics and targets related to Scopes 1, 2, and 3 emissions from 1 July 2025.