Insights

Sharp takes on what's next.

Sharp, practical insights from the ABS Solutions team on tax, accounting, SMSF and business strategy. Written for Australian individuals, businesses and the Chinese-Australian community.

Payday Super is here: what Australian employers need to do now.

If you run payroll for even one employee, you've probably heard the term “Payday Super” thrown around a lot over the last year. As of 1 July 2026, it's no longer a future change — it's the law, and if your business hasn't adjusted, this is the moment to catch up. We're a small accounting firm in Canterbury, Victoria, and over the past few months almost every business client we work with has asked some version of the same question: “Do I actually need to pay super every payday, or just make sure it's processed every payday?” The answer trips a lot of people up — let's go through it properly.

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More insights from our team

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Sole trader vs Pty Ltd: choosing the right business structure in Australia.

One of the first big decisions for any Australian business owner is whether to operate as a sole trader or set up a Pty Ltd company. The right structure affects your tax, your personal liability, what it costs to run, and how investable your business looks. Here's how to weigh up the trade-offs.

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Division 7A: can a director just take money out of the company account?

A common misconception is that the cash sitting in your company's bank account belongs to you personally. It doesn't. The Australian Taxation Office uses Division 7A of the Income Tax Assessment Act 1936 to stop directors and shareholders dressing up dividends as loans. Get it wrong, and the entire withdrawal becomes a deemed unfranked dividend — taxed at the director's marginal rate with no franking credits to soften the blow.

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A practical cash-flow guide for Australian small businesses.

Profit is theory; cash is reality. Australian Securities and Investments Commission data shows insolvent trading and poor strategic management remain the leading causes of small-business failure — and almost all of them trace back to a cash-flow blind spot. Here's how to manage cash like the financially confident operators we work with at ABS Solutions.

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Single Touch Payroll (STP): what it is and how it works.

If you employ anyone in Australia — even one casual — you're required to use Single Touch Payroll (STP) to report wages, PAYG withholding and superannuation to the ATO every payday. Here's a no-jargon explanation of what STP does, what STP Phase 2 changed, and the mistakes that trigger ATO follow-ups.

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The complete guide to tax deductions for Australian hospitality workers.

Hospitality is one of the most tax-active industries in Australia — chefs, baristas, waiters, bartenders, kitchen hands and hotel staff all qualify for a wide range of work-related deductions that can return hundreds (sometimes thousands) of dollars at tax time. But the ATO also targets this industry for over-claims. Here's exactly what you can claim, what you can't, and the receipts you need to keep.

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What is the Taxable Payments Annual Report (TPAR)?

If you pay contractors in certain industries — building and construction, cleaning, courier or road-freight, IT, security or investigation, or government department work — the ATO requires you to lodge a Taxable Payments Annual Report (TPAR) every year. It's a separate report from your BAS or company tax return, due by 28 August, and missing it triggers automatic penalties of up to $313 per 28 days late.

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Buying a car in Australia — personal or company name?

It's one of the most common questions Australian business owners ask us: should I buy this car personally, or put it in the company name? The answer depends on usage patterns, your business structure, and whether you're prepared to pay Fringe Benefits Tax (FBT). Here's the honest comparison — with real numbers — so you can decide.

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Business Structure in Australia: Sole Trader, Partnership, Company or Trust?

One of the first big decisions any new business owner in Australia has to make is what legal structure to trade under: Sole Trader, Partnership, Company (Pty Ltd), or Trust. It looks like a simple tick-box on an ABN application, but it actually shapes how much tax you pay every year, how exposed your personal assets are, and how easily you can raise capital or sell the business later. Get it wrong, and you could end up paying more tax than necessary — or worse, putting your house and savings on the line when the business hits trouble.

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In-House vs Outsourced Accounting: What Australian SME Owners Need to Know Before They Decide

At some point, almost every growing business owner faces the same question: should I hire a full-time accountant, or outsource the books to a professional accounting firm? There's no universal right answer — it depends on your business size, cash flow, and where you want to spend your time and energy. In this article, ABS Solutions breaks the decision down across four dimensions: real cost, depth of expertise, flexibility, and risk.

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AML/CTF Tranche 2 Reforms (2026): What Accountants, Real Estate Agents and Lawyers Need to Know

On 1 July 2026, Australia's anti-money laundering and counter-terrorism financing regulation underwent its biggest expansion in nearly two decades — the Tranche 2 reforms officially took effect. If you're an accountant, lawyer, real estate agent, conveyancer, or a trust and company service provider, your industry has been brought under AUSTRAC's oversight for the first time. For a firm like ABS Solutions — which provides accounting, tax and audit services (including audits for real estate agents, conveyancers, and SMSF trust accounts) — these reforms affect us directly, and they affect a large number of our clients too.