The Ultimate Guide to Establishing a Self-Managed Super Fund (SMSF): Process, Costs, and Compliance

Your business may be growing steadily, with profits on the rise a strong indicator of success. Yet even profitable companies can face cash flow challenges if financing, operations, and investment activities aren’t aligned. To protect financial stability and support sustainable growth, businesses must prioritise proactive cash flow management. For many, outsourcing financial services offers a strategic advantage improving efficiency and enabling better, faster decision-making. Cash Flow 101: More Than Just Money In, Money Out At its core, cash flow reflects the movement of money into and out of your business. Think of it as the financial pulse that determines whether you can: Pay your team on time Fund new projects Ride out a downturn Invest in long-term growth There are three primary types of cash flow to monitor: Operating Cash Flow – cash from your core operations (e.g. sales, services) Financing Cash Flow – cash from loans, equity, and repayments Inve...

AI is no longer a future concept in accounting it’s part of daily operations in 2025. From solo practitioners to mid-sized CPA firms, professionals are increasingly integrating AI tools like ChatGPT to streamline workflows and enhance service delivery. Many are adopting a hybrid approach, combining traditional outsourcing with AI-powered solutions to meet growing demands efficiently. But how practical is this shift? Can AI truly support core accounting functions while maintaining accuracy, compliance, and client trust? Let’s explore how firms are leveraging AI today and what’s next for the profession.  The Shift: From Automation to Augmentation For years, accountants have adopted new tools spreadsheets, cloud platforms, automation. But 2025 has introduced something even more transformative: thinking tools . AI in accounting today goes beyond routine automation. We’re seeing firms use AI-powered assistants to write client emails, summarise financial statements, explain tax c...

Payroll compliance in Australia is more than a legal obligation it’s a cornerstone of ethical business practice and employee confidence. With responsibilities spanning tax, superannuation , award interpretation, and record-keeping, precision is essential. As the 2024–2025 financial year begins, significant legislative changes are reshaping how employers manage payroll and workforce obligations. Staying compliant now requires a proactive approach built on awareness, accuracy, and alignment with evolving regulations.  Why Payroll Compliance Is More Than a Legal Obligation Australia’s regulatory landscape is becoming more complex and more consequential. What used to be quarterly checkboxes around superannuation or tax is now a multidimensional framework that includes: The criminalisation of wage theft The introduction of the Right to Disconnect New definitions for casual employment Superannuation reforms tied directly to wage cycles These aren’t just administrative ...

Why Invoice Automation Is Now a Must-Have for Finance Teams In today’s digital-first economy, manual invoicing isn’t just outdated it’s inefficient and costly. According to Gartner , finance teams relying on email approvals and spreadsheets face higher risks of delays, errors, and compliance issues. If you're a CFO, controller, or accountant still tied to manual processes, you’re not just losing time you’re impacting profitability. Leading organizations are adopting automation and outsourcing to streamline invoice processing, reduce costs, and scale with confidence. The future of invoicing is here and it's built for speed, accuracy, and growth. Whether you're handling 100 or 10,000 invoices, automation unlocks benefits at every scale: Faster approvals and fewer bottlenecks Improved compliance and audit readiness Real-time visibility into cash flow and liabilities Reduced data entry errors and duplicate payments So, What Is Invoice Automation Exactly? In...

Australia is facing an acute shortage of accountants in 2025, significantly impacting financial operations across sectors. Chartered Accountants ANZ reports that over 90% of firms are struggling to fill key accounting roles, with vacancies often remaining open for extended periods. The shortage is placing mounting pressure on existing staff, leading to burnout, delayed reporting, and increased compliance risks especially in regional areas where the talent pool is even more limited. A major contributor to this crisis is the sharp decline in accounting program enrolments. Participation in the Accounting Professional Year program dropped from 7,122 in 2018 to just 340 in 2024, signalling a shrinking pipeline of future professionals. As seasoned CPAs retire and fewer graduates enter the field, the talent gap continues to widen. In response, many organisations are partnering with experienced accounting firms to access scalable, reliable support and maintain business continuity in this ...

Australia’s accounting industry is rapidly evolving, driven by digital innovation, changing client expectations, and workforce shifts. Automation, AI, and cloud technology are streamlining traditional tasks, moving firms toward strategic advisory services. To stay competitive, many are outsourcing to access specialised skills and reduce costs. As flexible work and global talent reshape the profession, success will depend on adaptability, tech proficiency, and readiness for challenges like sustainability reporting and cross-border compliance. 1. From Data Crunchers to Strategic Counsel Automation and AI are no longer just buzzwords they’re revolutionizing client service. These tools handle repetitive tasks, freeing professionals to focus on forecasting, modelling, and advisory. Firms investing in digital upskilling are already standing out in the market. Take, for instance, the World Economic Forum’s report , which highlights how integrating AI into financial systems unlocks deeper...

It’s 2025, and artificial intelligence is no longer a distant concept for accountants it’s part of the job. From solo bookkeepers to mid-sized CPA firms, professionals are actively integrating AI tools like ChatGPT into their daily workflows. But the real conversation isn’t whether AI will replace accountants it’s how it’s reshaping the role itself. Here’s the truth: The firms staying ahead today aren’t necessarily bigger. They’re just smarter with their tools. Whether you're looking to streamline compliance tasks, deliver faster client responses, or enhance advisory services, AI has found a place at the accountant’s desk. The only question left is: are you using it effectively? From Buzzword to Backbone: The Rise of AI in Accounting We’ve moved beyond spreadsheets and cloud accounting. Today, AI-powered tools can write, analyze, summarise, and even draft reports with near-human fluency. In practice, this means: Drafting responses to ATO queries in minutes Summarizing ...

Starting or closing a business is rarely a straightforward journey. Behind the scenes, many entrepreneurs face a maze of costs that don’t neatly fit into standard tax deduction categories. These expenses   often overlooked  are what tax professionals refer to as blackhole expenditure . If you’ve ever wondered whether these costs are deductible, the good news is Australia’s tax legislation provides a critical lifeline through Section 40-880 . In today’s fast-paced business environment, understanding how to navigate these grey areas of tax law can make a meaningful difference to your bottom line. What Is Blackhole Expenditure and Why Should You Care? Blackhole expenditure covers certain capital costs that you incur while setting up, restructuring, or winding down a business  costs that aren’t deductible elsewhere under standard tax rules. Think of these as the expenses trapped in a “black hole” because they don’t qualify for immediate write-offs or depreciation clai...

Paying tax is inevitable. But paying more than you need to? That’s optional. As we step further into the 2025 financial year, many Australians whether employees, sole traders, or small business owners are seeking smarter, more strategic ways to manage their tax obligations. With cost-of-living pressures rising and new tax changes coming into effect, there’s never been a better time to sharpen your tax planning toolkit. Here’s the good news: there are legitimate , ATO-compliant strategies to reduce your taxable income without crossing any red lines. The key lies in forward planning, understanding deductions, and leveraging tools already available to you. Below are 11 practical, proactive strategies you can explore today and a link to our full guide with additional insights and expert commentary. 1. Revisit Your Super Contributions Salary sacrificing into Outsource super is one of the most effective and underutilised tax strategies out there. For FY2025, you can contribute up to $3...