Collectiv. Accounting

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18/06/2026

1 July is shaping up to be a big one for small business.

There is a lot changing at once, and I do not think enough business owners realise how much is actually about to hit from that date.

Payday Super starts from 1 July 2026, which means super now needs to be paid on every pay run, not quarterly. In most cases, it needs to reach the employee’s fund within 7 business days of payday. If your cash flow is not ready for that, you are going to feel it pretty quickly.

Minimum wages are also going up from $24.95 an hour to $26.44 an hour from 1 July 2026. That is a 4.75% increase for award-reliant wages, and it applies from the first full pay period on or after 1 July. If you have staff on award rates, your payroll costs are going up too.

Over the last three years, Australia has lost nearly 33,500 small employing businesses. That is three years in a row of more small businesses closing than opening, and it has not happened before in the recorded data.

Small business owners are not the ones who created this environment.

But we are absolutely the ones absorbing it.

So if you have not looked at your pricing, your cash flow, your wages, or what the next few months are actually going to cost your business, now is probably the time.

A few things I would be checking before 1 July:

• is your pricing still covering rising wage and compliance costs
• is your cash flow ready for Payday Super
• have you factored new payroll costs into upcoming jobs or quotes
• have you moved off the Small Business Super Clearing House if you were still using it

This is one of those moments where looking at the numbers now matters a lot more than waiting to see...

There is always a bit to look at before 30 June, but this is usually the time where it is worth slowing down and checkin...
15/06/2026

There is always a bit to look at before 30 June, but this is usually the time where it is worth slowing down and checking what still needs attention before the year closes.

A lot of the things on this list are not hard to deal with, but they do need to be looked at before 30 June if you want them to count in this financial year.

That might be:
making sure super has actually hit the fund
looking at whether any EOFY purchases genuinely make sense
prepaying expenses if it works for your setup
writing off bad debts properly
checking Div 7A
looking at trust distributions or company profit
making sure payroll and STP are in order
and having your tax planning conversation while there is still time to do something with it

That is really the biggest thing...

June gives you time to make decisions.

Once 30 June passes, a lot of those opportunities are gone.

I don't know if my pricing is right.And honestly, most business owners I speak to have never actually sat down and worke...
10/06/2026

I don't know if my pricing is right.

And honestly, most business owners I speak to have never actually sat down and worked it out properly. They picked a number that felt reasonable, maybe looked at what competitors were charging, and went with it.

But without working backwards from your actual costs, you have no idea if that price is keeping the business afloat or slowly draining it.

Here is what most people forget to include when they are working out their pricing.
Your actual business costs. Not just the obvious ones. Think insurance, software subscriptions, phone, vehicle costs, accountant and bookkeeper fees, marketing, equipment, and loan repayments. All of it needs to be in the calculation.

Your wage. An actual number that covers what you need to live, not whatever happens to be left over at the end of the month.

Your tax obligations. Income tax, super, and GST depending on your situation. These need to be factored into your pricing, not figured out at the end of the financial year when the bill lands.

Your profit margin. Once everything above is covered, there needs to be something left over for the business to grow, build a buffer, and give you something to work towards.

And then the hidden costs. The hours you spend quoting, doing admin, travelling, chasing invoices, and sitting in meetings. These are hours you are spending but not billing for. If a job takes nine hours but you only charged for six, your real hourly rate just dropped significantly.

Once you have all of that, work backwards. Add it all up, divide by your billable hours or jobs per month, and you will see the number you actually need to be charging just to break even and pay yourself properly.

Then compare that to what you are currently charging.

If you have never done this exercise, save this post and start there.

If you have ATO debt sitting there, you are not the only one.A lot of business owners leave it because they do not know ...
09/06/2026

If you have ATO debt sitting there, you are not the only one.

A lot of business owners leave it because they do not know what their options are, they feel embarrassed, or they think they need to have the full amount before they can do anything about it.

That is usually not the case....

An ATO payment plan can be an option if you are able to clear the debt over a reasonable period and keep up with any new tax obligations going forward.

A few things worth knowing:

• you can often set one up online or through your tax agent
• they are usually structured over 12 to 24 months
• general interest charge still applies, so the debt keeps costing you while it is unpaid
• late BAS or tax lodgments are a separate issue and can still attract penalties
• if the debt is left sitting there and the ATO is not being engaged with, it can become a credit reporting issue for the business
• and from 1 July 2025, ATO interest is no longer tax deductible, which makes carrying tax debt even more expensive

The biggest thing I would say is this:
Lodge, even if you cannot pay.

Because once things are lodged, you at least know what you are dealing with and what options you have.

And if the debt is bigger, cash flow is tight, or the business cannot realistically keep up with repayments, that is usually where your accountant or registered tax agent needs to step in and help work through what is actually sustainable.

If you are still manually entering new employee details into Xero, there is a faster way. Xero Payroll now has a built i...
28/05/2026

If you are still manually entering new employee details into Xero, there is a faster way.

Xero Payroll now has a built in self-onboarding feature that lets you send a new employee or contractor a secure invite and they fill in their own details. Tax file number, super fund, bank account, emergency contacts, all of it. You review it, approve it, and it flows straight into their payroll record.

No more chasing details over text or email. No more re-entering information you collected on a paper form. No more errors from typing someone else's bank account in manually.
This step by step guide walks you through exactly how to do it inside Xero Payroll from start to finish.

💭 A couple of things worth knowing before you use it. The invite expires after seven days so send it as soon as you know someone is starting. Also don't forget to update your workcover.

With Payday Super starting 1 July 2026 and super needing to hit employee funds within seven days of each pay run, having accurate super details from day one matters more than it ever has.

📌 Save this for the next time you bring on a new hire.

Hiring someone is a big step, especially at the moment.Costs are up, business owners are watching cash flow more closely...
20/05/2026

Hiring someone is a big step, especially at the moment.

Costs are up, business owners are watching cash flow more closely, and there is already a lot to carry. But there is also only so much you can do on your own.

At some point, you either need help so you can keep up, or you need help so you can actually grow.

The part I see people underestimate is the cost.

They look at the salary and think that is the number. Then super gets added, workers comp turns up, leave starts building, time gets spent training, and suddenly the real cost looks very different.

That does not mean hiring is the wrong move. It just means you want to know what it is really going to cost before you make the call.

Especially with Payday Super coming in from 1 July 2026, this is something worth understanding properly now.

If you are thinking about bringing someone on, look at the full cost first. Not just the wage.

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Griffith, NSW
2680

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Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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