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Hi Reader,
I am inviting you to our upcoming End of Year video calls specifically for our Sole Trader clients. Included in your Sole Trader tax return booking with us is access to our Sole Trader Live Sessions, because it's not enough for your Accountants to show up for you once a year when your tax return is done!
We are offering 3 sessions at different days and times over the next month. Come to one or as many sessions as you like!
We will run through our end of year presentation that will guide you in tax planning for your business and ending this financial year as best you can!
After the slides, we will hold a Q&A at the end of the session. We expect each small group session to run from 30 to 45 minutes each, but we're here for as long as you need us! This is your chance to chat with us about anything related to tax, business structures, software, payroll, GST, and more.
The specific Zoom link to join each of the scheduled video calls is linked in each of the three session dates and times.
On the day, please click the link corresponding to the session to join us!
(🕚 You can convert to your own time zone here.)
Have a Question You Want to Make Sure Gets Answered?
Submit your questions in advance here:
or simply show up live and ask away!
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Why do I get complimentary Live Q&As with Balance Tax?
It’s important to us that, as your accountants, you know you have a safe space to get your tax, business, and finance questions answered. (cuz let's face it, accountant advice from Facebook groups can be scary!) That’s why, when you book your tax return with us, you also get access to our Live Q&As with our Tax Team—a space where you can ask anything, get clear answers, and feel supported all the way.
What kind of questions can I ask?
Literally anything to do with business and money, like tax, Xero, business, cash flow, the ATO, business structures....the literal sky is the limit. You already know we will deliver all the info you need to know (without the overwhelm!) in our signature non-judgmental style. No question is too small, so please ask us! We are here to help.
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Can I Claim This Off My Tax? |
One of the perks of running a business is there are many expenses that you were paying for before starting your business, but now that these expenses have a connection to you operating your business, you can claim them as a tax deduction.🎉
Check out our blog that goes into detail and gives lots of examples of common tax deductions that are missed by business owners.
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How Parental Leave Pay Works and Who Can Get It |
Taking time off to care for a newborn or newly adopted child is a big life change, and the financial side of it can feel overwhelming. That’s where Parental Leave Pay comes in—a government payment designed to support eligible parents while they take time off work to bond with their child.
If you’re the primary carer of a child born or adopted from 1 July 2023, you may be eligible. To qualify, you need to meet work and income tests. This includes:
- Having worked at least 10 of the 13 months before your baby’s birth or adoption (at least 330 hours total).
- Earning below the individual income limit of $175,788 for the 2023-24 financial year—or meeting the family income test instead.
- Not working on days you receive Parental Leave Pay (with some exceptions for small business owners).
You’ll receive payments at the national minimum wage for up to 18 weeks, and you can choose when to take them within the first year after your child's birth or adoption. Applications are made through Centrelink via MyGov, and you’ll need to provide proof of birth after your child arrives.
If you’re self-employed, you can still qualify as long as you step back from daily operations. While some minor admin tasks are allowed (like paying bills or checking orders), you’ll need to avoid active work in your business.
Read our full article below for a detailed breakdown of eligibility, payment amounts, and key things to consider.
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What You Need to Know Before Buying Your Business Car |
A business car can be a smart move but before you commit, let’s talk money, tax, and what you can actually claim.
First, you can’t claim the full cost if your car is over the Luxury Car Tax (LCT) threshold—that’s $84,916 for fuel-efficient cars and $71,849 for others in 2023-24. Even if you use it 100% for business, deductions are capped at these limits.
Then there’s business vs. personal use—you can only claim the percentage used for business. Planning to use it for both? A logbook is essential to keep the tax office happy.
Next, how will you pay? Buying outright gives you full ownership but ties up cash. Financing spreads out the cost but comes with interest and ongoing repayments.
And don’t forget tax benefits like depreciation, interest deductions, and potential instant asset write-offs—but only if your car falls under the right threshold.
Sound complicated? It doesn’t have to be. We’ve broken it all down so you can make the best decision for your business.
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We look forward to seeing you at our End of Year Lives and helping you build a successful sole trader business!
Ready to Book your 2025 Tax Return?
If you have any questions or need to call in additional accountant support, simply reply to this email - I am all ears and we are here for YOU!
Relax, it's Balance Tax,
P.S. I’m sending you this email as you are on a current monthly package with us. We promise to never spam you. |
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PO Box 576 Balcatta WA 6914 Australia
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