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What To Do When Your Accountant Sends Your Tax Return for Review and SigningMany business owners see their tax return ar...
01/11/2026

What To Do When Your Accountant Sends Your Tax Return for Review and Signing

Many business owners see their tax return arrive in their inbox, sign it, and move on. But this is one of the most valuable opportunities of the year to better understand your business, improve your records, and potentially reduce future accounting costs.
Before you sign, take the time to review and discuss the information with your accountant.
1. Review the Tax Return Carefully
Your tax return tells the story of your financial year. Review the income, expenses, and any adjustments made before signing. If there's something you don't understand, ask questions.
Remember, you are ultimately responsible for the information lodged with the ATO, so it's important that you're comfortable with what is being reported.
2. Review the Profit and Loss Statement
Your Profit and Loss report shows how your business performed during the year.
Ask yourself:
• Did revenue meet expectations?
• Which expenses increased significantly?
• Was the business profitable?
• Are there areas where costs could be reduced?
This review often reveals trends that may otherwise go unnoticed and provides valuable insights for planning the next financial year.
3. Understand the Tax Adjustments
The profit shown in your accounting software is not always the same as the taxable profit reported to the ATO.
Ask your accountant to explain any tax adjustments, such as:
• Depreciation of assets
• Private use adjustments
• Motor vehicle adjustments
• Non-deductible expenses
• Prepaid expenses
Understanding these adjustments helps you make more informed business decisions and improves your financial literacy.
4. Update Your Accounting Software
Once the financial statements and tax return are finalised, ensure your accounting software is updated to match the final Balance Sheet.
If journals or year-end adjustments have been processed by your accountant, have these entered into your software so your records agree with the signed financial statements. This creates a clean starting point for the new financial year and ensures your reporting remains accurate.
5. Discuss What Changed and Why
One of the most valuable questions you can ask is:
"What adjustments did you make and why?"
Understanding the changes made by your accountant helps you identify bookkeeping errors, coding issues, or processes that may need improvement.
The more you learn from these adjustments, the fewer corrections will be required in future years.
6. Ask How You Can Make Their Job Easier
This simple question can save you money:
"What can I do differently this year to make the year-end process smoother?"
Better record-keeping means less time spent correcting errors, lower accounting fees, and more reliable financial reports throughout the year.
Your tax return is more than a compliance document. It is an opportunity to learn about your business, improve your financial systems, and strengthen your relationship with your accountant.
Don't just sign and file it away. Review it, discuss it, understand it, and use it as a tool to make better business decisions in the year ahead.
Wellness Tip for the week
When I lost all of my excuses, I found my results, - Anon
What is one small action you can take this week to give yourself some loving care?

Small Changes – can lead to big resultsAs a small business owner, you've probably heard the advice: "Think bigger." But ...
25/10/2026

Small Changes – can lead to big results
As a small business owner, you've probably heard the advice: "Think bigger." But what if the key to growth isn't thinking bigger, but thinking smaller?
Many entrepreneurs spend months planning major projects, rebranding exercises, expensive marketing campaigns, or complete business overhauls. Yet the businesses that create lasting success often focus on small improvements that are easy to implement and maintain.
Just like a tiny course correction can significantly change the destination of a plane over a long journey, small adjustments in your business can lead to remarkable results over time.
The Power of Incremental Improvement
When business owners feel stuck, they often look for a breakthrough. A new product. A new website. A new marketing strategy.
But breakthroughs are usually the result of consistent improvements rather than dramatic changes.
Consider what could happen if you improved just one area of your business by 1% each week:
• A slightly better customer experience
• A slightly faster response time
• A slightly clearer sales process
• A slightly more effective follow-up system
• A slightly stronger social media presence
Each enhancement may seem insignificant on its own, but together they create momentum that becomes difficult to ignore.

Wellness Tip for the week to get you through
To help you find clarity, strength and resilience, a quote for the week
Great things don’t come from comfort zones – Roy T Bennett
What is one small action you can take this week to give yourself some loving care?

Why nutrition is a business strategyAs small business owners, we invest time, energy, and money into improving our busin...
18/10/2026

Why nutrition is a business strategy
As small business owners, we invest time, energy, and money into improving our businesses. We look for better systems, smarter strategies, and ways to increase productivity. Yet one of the most powerful performance tools is often overlooked: nutrition.
The food you consume directly impacts your energy, focus, decision-making, and overall performance. When you're running a business, your mind is one of your most valuable assets, and it needs the right fuel to operate at its best.
The good news is that you don't need a complete lifestyle overhaul to see results.
Small changes can make a significant difference.
Replacing a sugary snack with a healthier option, drinking more water throughout the day, eating a nutritious breakfast, or preparing healthy meals in advance can help improve concentration and maintain steady energy levels.
When your body is properly nourished, you are more likely to:
âś… Think clearly and make better decisions
âś… Stay focused for longer periods
âś… Manage stress more effectively
âś… Maintain consistent energy throughout the day
âś… Improve productivity and performance
Many business owners push through long days relying on caffeine, convenience foods, and skipped meals. While this may seem efficient in the short term, it can lead to energy crashes, reduced focus, and poor decision-making.
Your business can only perform at the level of its leader.
By making small, sustainable improvements to your nutrition, you're investing in your most important business asset: yourself.
Success isn't just about working harder. It's about giving your mind and body the fuel they need to perform at their best.
Sometimes the smallest changes produce the biggest results.

Wellness Tip for the week to get you through
To help you find clarity, strength and resilience, here is a quote for the week.
Sometimes, the very thing you are most afraid of doing is the exact thing that will set you free – Robert Tew.
What is one small action you can take this week to give yourself some loving care?

Tip for the week: Building a Better Business Starts with Managing Your Energy Running a small business can be incredibly...
11/10/2026

Tip for the week: Building a Better Business Starts with Managing Your Energy

Running a small business can be incredibly rewarding, but it can also be exhausting. Many business owners wear multiple hats every day, balancing sales, marketing, operations, finances, customer service, and team management. The constant pressure to perform can lead to mental fatigue, stress, overwhelm, and burnout.

As a result, more entrepreneurs are exploring holistic wellbeing practices to help them stay balanced, focused, and resilient. One approach gaining increasing attention is energy healing.

What Is Energy Healing? Energy healing is a holistic practice based on the belief that our physical, emotional, and mental wellbeing is influenced by our body's energy systems. Various modalities, including Reiki, healing touch, and other energy-based approaches, aim to support relaxation, reduce stress, and promote a greater sense of balance. While energy healing should not replace professional medical advice or treatment, many people use it as part of their overall wellbeing routine.

Small business ownership can create unique challenges that impact both personal wellbeing and business performance. Energy Healing helps to

1. Manage Stress More Effectively

2. Improve Focus and Mental Clarity

3. Support Emotional Resilience

4. Prevent Burnout

5. Enhance Self-Awareness

Creating a Sustainable Business Starts with You. Many small business owners spend so much time looking after customers, clients, and team members that they forget to look after themselves. The reality is that your business can only thrive when you are functioning at your best. Whether it's exercise, meditation, coaching, mindfulness, energy healing, or simply taking time to rest, investing in your wellbeing is not a luxury. It's a business strategy.

Every business owners' wellbeing journey is different. What works for one person may not work for another. Energy healing is not about finding a quick fix. Rather, it is one of many tools that some business owner's incorporate into their self-care routines to support relaxation, personal wellbeing, and a greater sense of balance. In a world where business owners are constantly being asked to do more. Perhaps the most powerful step you can take is to create moments that allow you to slow down, reconnect, and recharge.

Wellness Tip for the week to get you through

To help you find clarity, strength and resilience, here is a quote for the week.

It isn’t where you came from. It’s where you’re going that counts. Ella Fitzgerald

What is one small action you can take this week to give yourself some loving care?

Theme for this month – Business Owners WellbeingEach week, I will be posting a task or a small action that you can take ...
04/10/2026

Theme for this month – Business Owners Wellbeing
Each week, I will be posting a task or a small action that you can take to help you fill the gap in your financial knowledge of your business. If you are feeling overwhelmed and cannot find time to work on your business, this will help you get started and build confidence.
Tip for the week
Giving meditation a go
As small business owners, we're constantly making decisions, solving problems, managing people, and dealing with uncertainty. Many of us spend time looking for strategies to improve performance, productivity, and profitability. Yet one of the most powerful tools available costs nothing and only requires a few minutes a day: meditation.
When your mind is cluttered, even simple decisions can feel overwhelming. The pressure of running a business often creates mental noise that affects focus, creativity, and judgment. Meditation helps clear that noise.
Just 5 to 10 minutes of daily meditation can create space between your thoughts, allowing you to approach challenges with greater clarity and calm. Instead of reacting to every issue, you become more intentional in how you respond.
The benefits extend far beyond personal wellbeing:
âś… Improved decision-making
âś… Greater focus and productivity
âś… Reduced stress and overwhelm
âś… Increased emotional resilience
âś… More creative problem-solving
Many business owners believe they don't have time to meditate. In reality, the busier you are, the more valuable those few minutes become. Taking a short pause to reset your mind can save hours of wasted energy caused by distraction, stress, and indecision.
Meditation is not about emptying your mind. It's about training your attention. The more you practice focusing your mind, the better equipped you become to focus on what truly matters in your business. I have lost count of the number of times business owners tell me they cannot meditate because their mind is too busy – here is the solution.
Success in business isn't just about working harder. It's about thinking clearly, making better decisions, and leading effectively. Sometimes the biggest breakthrough comes from simply sitting still for a few minutes each day.
Your business can only be as clear and focused as the person leading it.
Have you tried meditation as part of your business routine? What impact has it had on your productivity and decision-making?
Wellness Tip for the week to get you through
To help you find clarity, strength and resilience, a quote for the week
Do it now. Sometimes later becomes never – Annon
What is one small action you can take this week to give yourself some loving care?

Theme for this month – Day to Day Business Maintenance Each week, I will be posting a task or a small action that you ca...
27/09/2026

Theme for this month – Day to Day Business Maintenance
Each week, I will be posting a task or a small action that you can take to help you fill the gap in your financial knowledge of your business. If you are feeling overwhelmed and cannot find time to work on your business, this will help you get started and build confidence to ask questions of your bookkeeper or accountant and take some ownership of your own figures.
Tip for the week
Documenting Procedures
Running a small business with just you — and maybe one or two trusted staff member — often means everything lives in your head. You know how things get done, where files are kept, how customers are handled, and what “good work” looks like. But as your business grows, or even during busy weeks, relying on memory alone becomes a hidden risk.
Documenting your procedures isn’t about creating corporate red tape. It’s about building clarity, consistency, and confidence — for you and anyone who supports your business.
Start simple. Choose one recurring task: onboarding a client, sending invoices, opening the shop, posting to social media. Write down the steps as if you were handing them to someone who has never done the job before. Don’t aim for perfection; aim for clarity.
From there, introduce basic templates. A standard email response, a checklist for daily operations, a simple form for capturing customer details — these small tools save time and reduce mistakes. Templates also make it easier to delegate when you’re ready, because your expectations are already documented.
Next, define standards. What does “done well” look like? How quickly should a customer inquiry be answered? What format should invoices follow? Standards turn your procedures into repeatable quality — even when you’re not the one completing the task.
The real benefit is peace of mind. When your processes are documented, your business becomes more resilient. You can take a day off without worrying. You can onboard help more easily. You can grow without chaos.
You don’t need a big team to act like a professional business. You just need simple, clear procedures that support the way you work.
If you’re ready to take the next step, start with one task this week. Build one template. Set one standard. Small actions create strong foundations.
Due by Friday – add it to your calendar to make some time to review.
Send me a message or comment below DONE to keep yourself accountable.
You are not alone.

Wellness Tip for the week to get you through
To help you find clarity, strength and resilience, a quote for the week
If you look at what you have in life, you’ll always have more. If you look at what you don’t have in life, you’ll never have enough. – Oprah Winfrey
What is one small action you can take this week to give yourself some loving care?

Theme for this month – Day to Day Business MaintenanceEach week, I will be posting a task or a small action that you can...
20/09/2026

Theme for this month – Day to Day Business Maintenance
Each week, I will be posting a task or a small action that you can take to help you fill the gap in your financial knowledge of your business. If you are feeling overwhelmed and cannot find time to work on your business, this will help you get started and build confidence to ask questions of your bookkeeper or accountant and take some ownership of your own figures.

Task - Review Risk Management
Running a small business means juggling customers, cash flow, compliance, and everything in between. But one area many owners overlook is risk management — the systems and habits that protect your business when things go wrong. A few simple steps can make a massive difference to your resilience and long term stability.
One of the most effective tools is maintaining a detailed asset register. Record every major item your business owns — equipment, tools, technology, and motor vehicles — along with serial numbers, purchase dates, warranty details, and clear photos. For vehicles, include rego numbers, VINs, and insurance information. This becomes invaluable if you face theft, damage, natural disasters, or an insurance claim. It also helps your accountant verify depreciation and asset values quickly.
Cybersecurity is another growing risk for small businesses. Simple measures such as multi factor authentication, strong password policies, secure backups, and staff awareness training can prevent costly breaches. Cyber incidents often lead to downtime, financial loss, and reputational damage — all avoidable with proactive controls.
Insurance also plays a critical role in protecting your business. Review your policies annually to ensure they still match your operations. Public liability, professional indemnity, asset insurance, and cyber insurance are essential for most small businesses.
Risk management isn’t about expecting the worst — it’s about being prepared so you can keep moving forward with confidence. A few structured habits today can protect your business tomorrow.

Due by Friday – add it to your calendar to make some time to review.
Send me a message or comment below DONE to keep yourself accountable.
You are not alone.

Wellness Tip for the week to get you through
To help you find clarity, strength and resilience, a quote for the week
Listen to your own voice. Your own soul. Too many people listen to the noise of the world, instead of themselves. Leon Brown
What is one small action you can take this week to give yourself some loving care?

Theme for this month – Day to Day Business MaintenanceUnderstanding the Difference Between Tax Accountants and BAS Agent...
13/09/2026

Theme for this month – Day to Day Business Maintenance

Understanding the Difference Between Tax Accountants and BAS Agents/Bookkeepers

In Australia, small business owners often rely on both tax accountants and BAS agents/bookkeepers — but their roles aren’t interchangeable. Each profession is governed by different laws, responsibilities, and registration requirements. Knowing the difference protects your business and ensures you’re getting the right advice.
Tax Accountants: Registered to Provide Tax Advice
Tax accountants
• Prepare and lodge income tax returns
• Provide tax planning and tax advice
• Represent you to the ATO for tax matters
• Advise on business structures, CGT, FBT, depreciation and other tax law issues
BAS Agents & Bookkeepers: Focused on Day to Day Compliance
BAS agents (many of whom are bookkeepers) are also registered with the Tax Practitioners Board — but for a different scope of work. They can legally:
• Prepare and lodge BAS, IAS and GST reports
• Process payroll and superannuation
• Set up accounting software
• Reconcile accounts and maintain financial records
They cannot provide tax advice or lodge income tax returns. Their role is operational: keeping your books accurate, compliant, and up to date.
Why the Distinction Matters
Using the wrong professional for the wrong task can expose your business to compliance risks. For example:
• A bookkeeper giving tax advice is acting outside their legal scope.
• A tax accountant may not manage your day to day bookkeeping.
• Both roles complement each other — but they are not substitutes.
The safest approach is to use a BAS agent/bookkeeper for ongoing operations functions, and a tax accountant for anything involving tax law or strategic tax planning.
It is important there is communication between the two.
Understanding who does what helps you stay compliant, avoid penalties, and get the right guidance at the right time. Strong businesses rely on both — each bringing specialised skills that support your financial clarity and long term success.
Wellness Tip for the week to get you through
To help you find clarity, strength and resilience, a quote for the week
Be grateful for every second of every day you get to spend with the people you love Life is so precious. – Mandy Hale
What is one small action you can take this week to give yourself some extra time with you family?

Theme for this month – Day to Day Business Maintenance Task  - What you need to take to the Accountant for End of Year t...
06/09/2026

Theme for this month – Day to Day Business Maintenance
Task - What you need to take to the Accountant for End of Year tax
Tax time doesn’t need to be stressful — but for many small business owners, it often is. The difference between a smooth, efficient tax return and a frustrating one usually comes down to preparation. When you take the right information to your accountant, you not only speed up the process, you also reduce errors, avoid unnecessary ATO follow ups, and give your accountant the clarity they need to help you make better decisions.
Here’s a practical guide to the essential information every small business owner should prepare before meeting with their accountant.
Bank Statement at 30 June
Your accountant needs your official 30 June bank statement to confirm your year end cash position. Even if you use accounting software with bank feeds, the bank statement remains the source of truth. It anchors your financial statements and ensures your closing balances are accurate.
Completed Bank Reconciliation
A clean bank reconciliation is one of the most important steps in preparing reliable financials.
Tax Invoices for Significant Purchases
Major purchases such as equipment, vehicles, tools, or technology can have tax implications, including depreciation or instant asset write off eligibility. They will also need to know what is it used for.
This ensures your accountant treats the asset correctly and maximises your deductions.
Loan Documents and Finance Agreements
If you’ve taken out finance during the year, your accountant will need the loan documentation.
These items affect both your tax return and your balance sheet.
Payroll and Superannuation Records
Provide your Income Statement Verification report, PAYG withholding reports, and confirmation that superannuation has been paid.
Stocktake Figures at 30 June (if applicable)
If your business holds stock, your accountant needs your 30 June stocktake, valued at cost. Note any obsolete or damaged stock — this can impact your taxable profit.
Events After 30 June That May Be Relevant
Your accountant also needs to know about significant events that occurred after year end,
These may not belong in the current year’s tax return, but they can influence disclosures and planning.
ATO Correspondence
Final Thought
The more complete your information, the more accurate your tax return — and the more strategic your accountant can be. A little preparation now leads to better clarity, stronger compliance, and smarter decisions for the year ahead.

Due by Friday – add it to your calendar to make some time to review.
Send me a message or comment below DONE to keep yourself accountable.
You are not alone.

Wellness Tip for the week to get you through
“Celebrate yourself for showing up, even on the hardest of days”

Theme for this month – Lets do a reviewEach week, I will be posting a task or a small action that you can take to help y...
30/08/2026

Theme for this month – Lets do a review
Each week, I will be posting a task or a small action that you can take to help you fill the gap in your financial knowledge of your business. If you are feeling overwhelmed and cannot find time to work on your business, this will help you get started and build confidence to ask questions of your bookkeeper or accountant and take some ownership of your own figures.
Task - Review cash flow
Cashflow is what keeps the lights on, the wages paid, and the opportunities flowing. Even profitable businesses can struggle if cash doesn’t arrive at the right time. Planning ahead helps you avoid surprises and make better decisions.
Three Simple Steps to Get Control of Your Cashflow
• Know your inflows — List where money comes from and when it usually arrives. For most small businesses, this includes customer payments, recurring contracts, grants, or seasonal spikes. Understanding timing is key.
• Map your outflows — Write down your regular expenses: rent, wages, suppliers, subscriptions, tax obligations. Then add the irregular ones — equipment repairs, annual insurance, or stock purchases.
• Create a simple forecast — A basic spreadsheet with weekly or monthly columns is enough. Add expected income, subtract expected expenses, and look ahead for tight spots. This helps you plan instead of react. Don’t forget the payment of the BAS and keeping money aside for the annual tax bill.
Practical Tips That Make Cashflow Easier
• Shorten your payment cycle — Clear payment terms, upfront deposits, and automated reminders reduce delays.
• Build a buffer — Even a small emergency fund gives breathing room.
• Review weekly — Cashflow changes quickly. A 10 minute check-in keeps you ahead.
• Plan for seasonality — Many small businesses have busy and quiet periods. Forecasting helps you prepare.
Cashflow planning isn’t just about numbers — it’s about peace of mind. When you know what’s coming, you make clearer decisions, negotiate better, and spot opportunities you might otherwise miss.

Due by Friday – add it to your calendar to make some time to review.
Send me a message or comment below DONE to keep yourself accountable.
You are not alone.

Wellness Tip for the week to get you through
To help you find clarity, strength and resilience, a quote for the week
Let it flow, let it be, and let it come to you. You’re attracting everything you need. Surrender. Detach from the outcome. – Lisa Messenger
What is one small action you can take this week to give yourself some loving care?

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