Your business budget isn’t just numbers—it’s a strategic tool that drives profitability, efficiency, and growth. Without a clear financial plan, businesses risk missing opportunities and struggling with cash flow challenges. For small to mid-sized businesses without dedicated finance teams, expert guidance can make all the difference. Why a Strong Budget Matters A well-structured budget [...]
Managing cash flow effectively is essential for any business. While profit is important, cash is what keeps your business running day to day. Without a clear understanding of cash flow, businesses risk financial strain, missed opportunities, and operational challenges. Why Cash Flow Matters Cash in the bank is necessary to pay suppliers, employees, tax [...]
The Federal Budget for 2025–26 has been handed down, and while many of the announcements continue previously established initiatives, there are several key measures that will impact individuals, families, and businesses alike. At Hoffman Kelly, we’ve reviewed the budget in detail and compiled a summary of the most relevant updates for our clients. Below are [...]
Your business margins aren’t just numbers—they are the difference between thriving and barely surviving. If you’re not actively managing and improving them, you’re leaving money on the table, exposing yourself to unnecessary risk, and making growth harder than it needs to be. At Hoffman Kelly Accountants, we don’t just crunch numbers—we help business owners [...]
If your business or personal wealth falls within the ATO’s new target range, it’s no longer a question of if you’ll be reviewed, but when. Over the last five years, the ATO has meticulously examined the tax affairs of Australia’s largest private taxpayers. Now, they’re expanding their scrutiny to 273,000 private tax groups. If [...]
As of 2024, approximately 36% of Australians regularly work from home, according to the Australian Bureau of Statistics (ABS). With remote work now a significant part of the Australian workforce, understanding how to claim work-from-home expenses on your tax return has become vital. The Australian Taxation Office (ATO) provides clear guidelines to ensure you [...]
Did you know the Capital Gains Tax (CGT) concessions for small businesses aren’t just for selling up? These concessions can be used in a variety of situations, from planning for retirement to restructuring your business or even setting things up for the next generation. Understanding how they work could save you a significant amount [...]
The holiday season brings joy, celebrations, and gifts, but it can also bring unexpected tax bills if you’re not careful. Christmas parties, client lunches, and festive gifts may be subject to Fringe Benefits Tax (FBT), so it’s essential to keep track of your spending and know what you can claim back. This guide will [...]
Keeping financial data current is essential for effective decision-making and spotting issues early. Inaccurate records can lead to costly mistakes, missed opportunities, and compliance risks. Fortunately, by adopting a few key practices—like automating tasks and scheduling regular reviews—you can ensure your financial records stay accurate and up-to-date. Here are some straightforward strategies to make [...]
Keeping financial records up-to-date is a critical business practice that delivers a range of benefits, enhancing decision-making and promoting financial stability. Accurate records offer a clear view of cash flow, expenses, and profitability, empowering leaders to make data-driven choices that support growth. They also simplify tax preparation, ease audit processes, and improve budgeting, saving [...]
