Show Me The Money The Government’s big moment in the 2025-26 Federal Budget was the personal income tax cuts. Income tax cuts are a dazzling headline but in reality deliver a tax saving of up to $268 in the 2026-27 year, with a tax saving of up to $536 from the 2027-28 year. At the same time, the Australian Taxation Office has been allocated almost $1bn in funding to extend and enhance its compliance programs. Two previously announced measures of note that have not passed Parliament but remain in the Budget are: Tax on super accounts above $3m (a 30% tax on future earnings for super balances above $3m). The $20,000 instant asset write-off for small business for 2024-25. Both measures have stalled in Parliament and, assuming they are not approved in the final days of Parliament, will lapse when an election is called. Budget 2025-26 is a budget for voter appeal with over $7bn in additional spending measures in 2025-26 and over $20bn across five years. Most measures extend previously announced and Budgeted items for another year. Key initiatives include: Energy $180bn to deliver a $150 energy bill rebate extension until the end of 2025. Healthcare $8.5bn on Medicare for increases to Medicare payments, 50 new urgent care clinics, and a bulk billed GP service. $1.8bn over 5 years for cheaper medicines on the Pharmaceutical Benefits Scheme. $240m for women’s health Education $500m to provide a 20% cut to HECS-HELP debt for students, and a realignment of the repayment schedule to reduce the amount required to be paid (from 1 July 2025). Housing $800m to expand the ‘Help to Buy’ scheme reducing the size of the deposit required to buy a home by co-buying with the Government. Families Three days of subsidised childcare for families with young children (income tested) from 1 January 2026 replacing the Child Care Subsidy activity test.   Economically, trade tensions have magnified global uncertainty. Global growth is already subdued. The indirect effect of tariffs is estimated to be nearly four times as large as the direct effect on Australia, reflecting the relative importance of affected trade flows between Australia, China, and the United States.   Australia’s economy is expected to grow, albeit slowly at 2.25% in 2025-26 and 2.5% in 2026-27. The Budget will be in deficit at -$42.1bn in 2025-26, before improving marginally but remaining in the red.   The Collins Hume team are available to assist you to capitalise on any of the Budget measures or minimise your risk. As always, the detail is important so please let us know if we can assist.

Running a business often feels like juggling dozens of tasks at once! The good news is that a few focused tweaks can streamline your operations and set the stage for growth. Here are 10 practical tips to help improve your operations and drive your business forward: Set Clear Goals and Plan Ahead  – Have a clear vision of what you want to achieve. Outline a few realistic goals and create a simple plan as your roadmap to guide decisions. Stay on Top of Your Finances  – Keep a close eye on cash flow and expenses with a regularly updated budget. Knowing where your money is going helps you avoid surprises and make smarter spending decisions. Streamline Your Operations  – Look for ways to make daily processes more efficient. For example, organise your workspace or use software to automate repetitive tasks. Simplifying how you work saves time and reduces stress for everyone. Embrace Technology  – Don’t shy away from tools that save time or improve customer experience. The right technology can automate manual work and free you up to focus on growing the business. Delight Your Customers  – Happy customers are the lifeblood of your business. Make service a priority: respond quickly, fix problems, and ask for feedback. When customers feel valued, they’ll return and refer others, fueling your growth. Invest in Your Team  – Build a strong team by hiring people who share your vision and giving them the support they need to excel. Learn to delegate instead of doing everything yourself — trusting your team frees up your time and empowers them to contribute more. Market Smartly  – You don’t need a huge budget to market effectively. Focus on channels where your customers spend time, like social media, local events, or email newsletters. Make sure you have an online presence – even a simple website or Facebook page can help new customers find you. Monitor Key Metrics  – Pick a few key numbers (like weekly sales or customer satisfaction) and track them regularly. Knowing your metrics tells you what’s working and what isn’t, so you can adjust your strategy accordingly. Stay Agile and Open to Change  – The business landscape can change quickly, so be willing to adapt. Keep learning and stay open to new ideas — whether it’s a new marketing trend or a shift in customer preferences, flexibility helps your business thrive. Seek Mentorship and Advice  – You don’t have to do it all alone. A business mentor or advisor can offer guidance from experience, help you spot opportunities, and keep you accountable to your goals. Growing a business is an ongoing journey, but you don’t have to do it alone. Collins Hume’s Strategy360 team specialises in business planning, mentoring and succession planning for businesses just like yours.  Ready to take your business to the next level? Contact Collins Hume’s Strategy360 today and let us be your trusted partner in success. Strategy360 By Collins Hume

FBT 2025: What you need to know Many businesses continue to offer flexible work from home arrangements. employees are often provided with work-related items to assist them to work from home. In general, where work related items are provided to employees and used primarily for work, FBT shouldn’t apply. For example, portable electric devices such as laptops and mobile phones provided to employees shouldn’t trigger an FBT liability as long they are primarily used by your employees for work. Multiple similar items can also be provided during the FBT year where required – for example multiple laptops have been provided to the employee – but only if the business has an aggregated turnover of less than $50m (previously, this threshold was less than $10m). If the employee is using equipment provided by the business for their own private use, normally FBT would apply to the private use. However, the FBT liability can be reduced based on the business use percentage.   Reducing the FBT record keeping burden Record keeping for FBT purposes can be onerous. From 1 July 2024 however, your business will have a choice to keep using the existing FBT record keeping methods, use existing business records where those records meet the requirements set out by the legislative instrument, or a combination of both methods: Travel diaries – see LI 2024/11 Living-away-from-home-allowance – FIFO/DIDO declarations – see LI 2024/4 Living-away-from-home – maintaining an Australian home declaration – See LI 2024/5 Otherwise deductible rule – expense payment, property or residual benefit declaration – See LI 2024/6 Otherwise deductible rule – private use of a vehicle other than a car declaration – See LI 2024/7 Car travel to an employment interview or selection test declaration – See LI 2024/14 Remote area holiday transport declaration – See LI 2024/10 Overseas employment holiday transport declaration – See LI 2024/13 Car travel to certain work-related activities declaration – See LI 2024/9 Relocation transport declaration – See LI 2024/12 Temporary accommodation relating to relocation declaration – See LI 2024/8 FBT housekeeping It can be difficult to ensure the required records are maintained in relation to fringe benefits – especially as this may depend on employees producing records at a certain time. If your business has cars and you need to record odometer readings at the first and last days of the FBT year (31 March and 1 April), remember to have your team take a photo on their phone and email it through to a central contact person – it will save running around to every car, or missing records where employees forget. Need FBT help? Please contact Collins Hume on 02 6686 3000 or access any of our free FBT factsheets here »

In last month’s article , we took a high-level look at what is changing with residential aged care come 1 July 2025.  The Government’s objective is to focus on increasing the quality, accountability and long-term viability of the aged care system.   Instead of an extra tax paid by younger workers, or a Medicare-style levy, the Government decided that new people entering the aged care sector would need to contribute more towards their care services.  Now we turn our attention to what is changing in the home care world … and let me tell you, there is plenty of changes coming.  Some of these changes are already locked; whilst other changes are still be thrashed out by the industry. Let’s look at some of the high-level changes that will impact you living in your home longer. From 1 July 2025, the home care program will be renamed the Support at Home Program.  The current four (4) funding levels of home care packages will be replaced by eight (8) funding levels plus a Restorative Care Pathway and End-of-Life Pathway.  The current Commonwealth Home Support Program (CHSP) will continue until 1 July 2027 when it will transition to the Support at Home Program … it may be in the “too hard” basket? The Support at Home funds will be paid quarterly and held on your behalf by Services Australia (I had to read that more than once).  Home care providers will invoice Services Australia to be paid for home care services provided to you. The home care provider will be paid 10% of your budget for care management services and there are some limits on how much money can roll into the next quarter as the Government want to see you use the funding for services and not accumulate in an “unused funds” basket.  The home care provider will then invoice you to be paid via a direct debit facility (most probably). The Government will introduce a defined service list (yet to be fully agreed and released) which will be divided into three (3) categories – clinical care, independence support and everyday living. In all packages, clinical (health and body) care is 100% funded by the Government … BUT the “other” living costs of services like meals, transport, social support, cleaning and gardening will need to be “contributed to” by you. The full details regarding exactly how much you will contribute towards your home care services have not yet been released … but the amount(s) will be linked to your age pension status.  In other words, self-funded retirees will pay more than full- or part-age pensioners. The Government is still the major contributor to aged care but people are now being asked to contribute more to their own care if they have the ability to do so.  However, anyone “already in the aged care system” (there are definitions around what this means) will be no worse off and not subject to new rules. Simple?  The Government hopes so and expect it will also reduce the current long wait times from assessment to service funding arriving.  I recently read a Frequently Asked Questions document prepared by the Government Minister’s Office which comprised 30 pages – I had a splitting headache by page 11 … so I’ll believe simple, faster and better when I see it. Family Aged Care Advocates guide you and your family through this ever-changing aged care maze so you can clearly understand what all these changes exactly mean for your particular situation. Mistakes or misunderstandings can be stressful, time-consuming and costly to fix. Feel free to give us a call on 0411 264 002 or visit us at www.familyagedcareadvocates.com.au

The perfect retirement looks different for everyone. However, one thing we all have in common: we all need a place to live! Housing is a key part of planning your retirement, but how do you work out the best financial decision for you? It can feel intimidating with inflation, soaring mortgage rates, and skyrocketing house prices. More and more retirees are still paying off their mortgage (up to 54% of 55-64 year olds, and 13% for those older than 65), thanks in part to rising house costs. These retirees are often paying off their mortgages with superannuation, which can limit spending for the rest of their retirement. For many, the goal of retiring with a home paid off is becoming more and more unachievable. Census data from Digital Finance Analytics showing outright home ownership for almost every age cohort has halved in the past 20 years (ABC News) But is renting any better? Let’s look at the options and how to rise above the troubling commentary that you might be reading. The Pros & Cons of Owning vs Renting There are many questions to consider as housing becomes a bigger issue for many people. Like “is it better to buy a house later in life to have housing security but be dealing with a mortgage?” What about, “can I rent and face potential instability but without the debt burden?” If you already own a home, do you keep it or sell it? Each option has upsides and downsides to it, based on your situation. In this issue, we’re looking at the pros and cons of both renting and owning, to help you decide which option is better for your own retirement plan. First, what’s so great about owning a house? For many Aussies, owning a home is a huge achievement, a sign that you've made it! And let's be honest, there's a lot to love about being the king or queen of your castle. You get to call the shots, renovate as you please, and create a space that truly reflects you. Need a bathroom makeover or a ramp instead of stairs? No problem, it's your house! And in retirement? There are some perks: Age pension friendly:  Good news, owning your home doesn't affect your eligibility for the Age Pension. It's considered an exempt asset, even if it's worth a fortune. Stability and peace of mind:  Say goodbye to rental worries. Owning your home gives you a sense of security and stability, knowing you're not at the mercy of landlords or rising rents. Leave a legacy:  Want to pass something special on to your loved ones? Your home can be a valuable inheritance for your children or grandchildren. Lower housing costs:  This is a big one, particularly when your income is limited. However, this only applies if you are mortgage-free (or very close to it)! Overall, owning your retirement home gives you control, stability, and won’t cost you as much throughout retirement. Okay, so what about the downsides of owning a home? Ongoing expenses:  Upkeep of the home, renovations, or conversions for mobility purposes can add up, as well as ongoing council rates or body corporate fees. Your money's tied up:  Having a lot of your wealth locked in your home can make it hard to access cash when you need it. The upfront costs:  Buying a home is a big financial commitment. If you don’t yet own a home, buying one later in life can create stress (in particular, keeping up with mortgage repayments when you want to start winding down). So, while owning a home has its perks, there can be both pros and cons, depending on your financial situation.  Does Renting in Retirement Work First, what are some of the positives about renting? Renting can be a legitimate financial choice later in life. Usually this is when people have built up a valuable pool of assets and investments - just not in property. Shares are the most common alternative investment, and some people prefer to live off the return they receive from their portfolio rather than spending their capital on an expensive home. Less home maintenance : Depending on your rental, you’ll probably be able to forget about mowing lawns and fixing leaky faucets, as your landlord takes care of all the upkeep. That can be a huge relief, especially as you get older and home maintenance becomes more challenging. Debt-free living:  Renting can be a great way to avoid taking on a big mortgage or tying up your money in property. Without a big expenditure of capital, people might choose to put that money into other investments. Flexibility:  Want to try a new neighbourhood or be closer to family? Renting gives you the flexibility to move whenever you like. Renting does have significant downsides too: No ownership:  You're not building any equity, and those rent payments don't contribute to owning anything in the long run. Limited control:  Want to paint the walls purple or put in a new kitchen? You'll need your landlord's permission, and they might not always say yes. Rental uncertainty: Rent prices can go up, and your lease might not always be renewed. This can make it hard to feel truly settled and secure. Constant payments:  While you don’t have debt, you do have to keep paying rent, week in, week out. This can put a strain on your finances and your mental health. Mental Health and Life Expectancy:  According to research, renting can have serious impacts on your long-term health and stress, which can reduce your quality of life. Thinking about renting? Ask yourself these questions: What are your financial goals? Does renting fit with your overall retirement plan? What kind of lifestyle do you want? Do you value flexibility or stability? What's your budget? Can you comfortably afford the rent, especially with potential increases? If you still have some time before retirement, and you have other assets or money in cash, consider seeking financial advice about whether you should invest in property now. Renting can be a great option for some retirees, particularly if it’s a choice that has weighed the pros and cons carefully.  While not all retirees will have the choice between owning and renting, there is always help available to navigate your retirement plan - whatever your situation. Already Own Your Home? You’ve Got Options! Things look a bit different if you're already a homeowner. Here's the deal: Still Paying Off the Mortgage? No worries - your goal should be to pay off your mortgage as soon as possible (while preserving your long-term retirement fund as much as possible). Some people choose to work a few years longer, or transition to retirement. We know a couple who are empty nesters and have been renting out spare rooms to homestay students. And if you're keen to ditch that mortgage debt sooner, we can help you explore some strategies to pay it off before retirement. Mortgage-Free? That’s great. With no mortgage hanging over your head, your housing costs are likely to be much lower – usually just maintenance and council rates. That frees up a lot of breathing room in your budget. If needed, you could consider utilising the equity in your home to fund your retirement through downsizing, or a home equity release.  Purchasing a Home in your 40s or 50s When considering purchasing a home for retirement, particularly if you're in your 40s or 50s, several key factors need careful consideration. Here's a breakdown: Think long-term: If you're buying in your 40s or 50s, that mortgage could be with you for a while! Make sure you can handle those repayments for the long haul. It's also worth thinking about how long you'll live in the house. If it's less than 10 years, you might not get the full benefits of owning. Got a second property or some investments up your sleeve? That could make managing mortgage payments in retirement a whole lot easier. You may need to ask yourself, can you really afford it? Let's be real, mortgages (and rent!) eat into your savings. So, factor in ALL the costs – think bills, repairs, council rates - into your retirement planning. The Age Pension probably won't cover your mortgage repayments, so it’s important to understand where your retirement income will come from. Crunch those numbers and figure out if buying or renting makes more sense for your retirement budget. What's the plan? Dream home or future nest egg? What do you want from this house? Is it your forever home, an investment for the future, or something to pass on to the kids? Have you thought about what happens when you eventually move on? Will you sell up or is it part of your legacy plan? Knowing your goals will help you pick the perfect place and avoid any surprises down the road. For more clarity on how advice could help you, please feel free to get in touch with Essential Wealth and Retirement: P . 02 5562 6260 (Ballina) P.  07 5230 4198 (Gold Coast) E:   support@ewar.com.au   W:   www.ewar.com.au     Ballina Office Address: 97 Tamar Street, Ballina, NSW 2478 Gold Coast Office Address: 80-82 Upton St, Bundall, QLD 4217 BallinaGCFP Pty Ltd ABN 12 670 111 583 trading as Essential Wealth & Retirement is a Corporate Authorised Representative no. 1305335 of GPS Wealth Ltd AFSL 254 544.   A word of caution for - the included material in this newsletter has been provided as General Advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Adviser before you make any decision regarding this communication. We have taken care to prepare this material, but any decisions or actions you take as a result of you reading this communication are entirely your own.

Tamara Hepburn joined Collins Hume in July 2024, bringing with her 15 years of experience from executive support roles across the agriculture and livestock sectors coordinating membership engagement and client communications. Originally growing up Northern NSW, she spent time in Queensland before settling in the Lismore area with her family. As the Executive Assistant to Chris Atkinson and his team, Tamara is the one making sure everything ticks along – from managing ASIC requirements to onboarding clients.  She enjoys the variety in her role, whether it’s handling compliance, supporting clients or keeping things running smoothly behind the scenes. But what Tamara values most is the relationships – getting to know clients, understanding their businesses and helping them move forward.  Thrown into the deep end early on, Tamara quickly became Collins Hume’s go-to person during the Stars of Ballina 2024 fundraiser, working alongside Chris and his dance partner Maree to coordinate with the Cancer Council. She was also part of the team supporting Collins Hume at the Northern Rivers Business Awards, experiencing firsthand the strength and success of local businesses.  For Tamara, joining Collins Hume was a well-timed change. After taking a sabbatical at the end of 2023 to figure out her next step, she found Collins Hume at just the right time – during a business restructure and the launch of Strategy360. It was the fresh start she was looking for, and she’s grateful to be part of a team that fits.  Outside of work, Tamara enjoys running with her dogs, spending time with family and friends and refinishing old furniture – seeing potential in things that might otherwise be discarded.  With her experience, steady approach and genuine interest in people, Tamara has become a valuable part of Collins Hume and a reassuring presence for both team and clients. — Tamara Hepburn brings a solid foundation of knowledge to her role, holding a Diploma in Accounting, a Diploma in Hospitality Management and a Cert III in IT. Her qualifications, combined with years of hands-on experience in executive support roles, give her a well-rounded skill set that’s invaluable in a busy professional services firm.

FBT 2025: What you need to know The FBT rules tend to apply when benefits are provided to employees and certain office holders, such as directors. FBT should not apply when benefits are provided to genuine independent contractors but, you need to be sure that your contractors are in fact contractors. Are your contractors really contractors? Following two landmark decisions handed down by the High Court, the ATO has now finalised a ruling TR 2023/4  that helps determine whether a worker is an employee or an independent contractor. If the parties have entered into a written contract, then you need to focus on the terms of that contract to establish the nature of the relationship (rather than looking at the conduct of the parties). However, merely labelling a worker as an independent contractor doesn’t necessarily mean that they won’t be treated as an employee if the terms of the contract suggest that the parties have entered into an employment relationship. The ATO has also issued PCG 2023/2  that sets out four risk categories. Arrangements will tend to be viewed in a more favourable light where: There is evidence to show that you and the worker have agreed on the classification; There is a comprehensive written agreement that governs the relationship; There is evidence that you and the worker understand the consequences of the classification; The performance of the arrangement hasn’t deviated significantly from the terms of the contract; Specific advice has been sought confirming that the classification is correct; and Tax, superannuation, and reporting obligations have been met when the worker is classified as an employee or independent contractor (whichever relevant). If your business employs contractors, you should have a process in place to ensure the correct classification of the arrangements and to determine the ATO’s risk rating. These arrangements should also be reviewed over time. Even when a worker is a genuine independent contractor, just remember that this doesn’t necessarily mean that the business won’t have at least some employment-like obligations to meet. For example, some contractors are deemed to be employees for superannuation guarantee and payroll tax purposes. Need FBT help? Please contact Collins Hume on 02 6686 3000 or access any of our free FBT factsheets here »

FBT 2025: What you need to know The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees. FBT exemption for electric cars  Employers that provide employees with the use of eligible electric vehicles (EVs) can potentially qualify for an FBT exemption. This should normally be the case where: The car is a zero or low emission vehicle (battery electric, hydrogen fuel cell or plug-in hybrid electric); The car is both first held and used on or after 1 July 2022; and The value of the car is below the luxury car tax threshold for fuel efficient vehicles (which is $89,332 for 2024-25 financial year). Plug-in hybrid vehicles no longer FBT exempt From 1 April 2025, plug-in hybrid electric vehicles will no longer qualify for the FBT exemption unless: The use of the vehicle was exempt before 1 April 2025, and   There is a financially binding commitment to continue providing private use of the vehicle on and after 1 April 2025. If there is a break or change to that commitment on or after 1 April 2025 then the exemption normally won’t be available any more. Working with the exemption Even if the FBT exemption applies, your business will still need to work out the taxable value of the benefit as if the FBT exemption didn’t apply. This is because the value of the exempt benefit is still taken into account when calculating the reportable fringe benefits amount of the employee. While income tax is not paid on this amount, it can impact the employee in a range of areas (such as the Medicare levy surcharge, private health insurance rebate, employee share scheme reduction, and social security payments). This means the employee’s own home electricity costs incurred on charging the electric vehicle will often need to be worked out. This figure can generally be treated as an employee contribution to reduce the value of the benefit.  While this can be practically difficult to determine, the ATO has issued some guidelines that provide a 4.20 cent per km shortcut rate that can potentially help with the calculation. These guidelines do not apply to plug-in hybrid vehicles. Many electric vehicles are also packaged together with electric charging stations. Just be aware that the FBT exemption for electric cars does not extend to charging stations provided at the employee’s home. Need FBT help? Please contact Collins Hume on 02 6686 3000 or access any of our free FBT factsheets here »

FBT 2025: What you need to know Mismatched claims for entertainment – claimed as a deduction but no FBT One of the easiest ways for the ATO to pick up on problem areas is where there are mismatches. When it comes to entertainment, employers are often keen to claim a deduction but this can be a problem if it is not recognised as a fringe benefit provided to employees. Expenses related to entertainment such as a meal in a restaurant are generally not deductible and no GST credits can be claimed unless the expenses are subject to FBT. Let’s say you taken a client out to lunch and the amount per head is less than $300. If your business uses the ‘actual’ method for FBT purposes, then there should not be any FBT implications. This is because benefits provided to client are not subject to FBT and minor benefits (i.e., value of less than $300) provided to employees on an infrequent and irregular basis are generally exempt from FBT. However, no deductions should be claimed for the entertainment and no GST credits would normally be available either. If the business uses the 50/50 method, then 50% of the meal entertainment expenses would be subject to FBT (the minor benefits exemption would not apply). As a result, 50% of the expenses would be deductible and the business would be able to claim 50% of the GST credits. Employee contributions by journal entry in the accounts Many businesses use after-tax employee contributions to reduce the value of fringe benefits. It is also reasonably common for these contributions to be made by journal entry through the accounting system only (rather than being paid in cash). While this can be acceptable if managed correctly, the ATO has flagged numerous concerns including whether journal entries made after the end of the FBT year are valid employee contributions. For an employee contribution made by way of journal entry to be effective in reducing the taxable value of a benefit, all of the following conditions must be met: The employee must have an obligation to make a contribution to the employer towards a fringe benefit (i.e. under the employee’s remuneration agreement); The employer has an obligation to make a payment to the employee. For example, the parties may agree that the employer will lend an amount to the employee or the employee might be entitled to a bonus that hasn’t been paid yet. If a loan is made by the employer then this could trigger further tax issues that need to be managed;  The employee and employer agree to set-off the employee’s obligation to the employer against the employer’s obligation to the employee; and The journal entries are made no later than the time the financial accounts are prepared for the current year (i.e., for income tax purposes). Failing to ensure that arrangements involving fringe benefits and employee contributions are clearly documented can lead to problems. For example, the ATO may ask to see evidence of the fact that the employer is actually under an obligation to make contributions towards a fringe benefit. If there is no evidence, then significant FBT liabilities could arise. Not lodging FBT returns The ATO is concerned that some employers are not lodging FBT returns when required to. If your business employs staff (even closely held staff such as family members), and is not registered for FBT, it’s essential to ensure that the position is reviewed to check whether the business could potentially have an FBT liability. If the business provides cars, car spaces, reimburses private (not business) expenses, provides entertainment (food and drink), employee discounts etc, then you are likely to be providing at least some fringe benefits. There is a list of benefits that are considered exempt from FBT, such as portable electronic devices like laptops, protective clothing, tools of trade etc. If your business only provides these exempt items, or items that are infrequent and valued under $300, then you are unlikely to have to worry about FBT. Need FBT help? Please contact Collins Hume on 02 6686 3000 or access any of our free FBT factsheets here »

The aftermath of Tropical Cyclone Alfred has left many residents, businesses, and primary producers across New South Wales and Queensland facing immense challenges. Whether you're dealing with property damage, business disruption or loss of income, there are support measures in place to help you recover and rebuild. Available Support in New South Wales The NSW Government has compiled a comprehensive list of assistance available to residents, businesses, and primary producers impacted by the cyclone. This includes financial aid, grants and essential recovery services. To see the full list of support options and determine your eligibility, visit: NSW Government Disaster Recovery . South East Queensland Disaster Recovery Measures The Queensland Government has activated local councils to manage disaster support within their Local Government Areas (LGAs). This means that disaster recovery resources and financial assistance will be delivered through local authorities, ensuring targeted and timely support for affected communities. More details on activated LGAs and funding support can be found at: Queensland Government Statement Queensland Reconstruction Authority Income Support for Impacted Workers and Sole Traders For those who have lost income due to TC Alfred, the Australian Government is offering up to 13 weeks of income support through the Disaster Recovery Allowance Scheme . This assistance is available to eligible employees and sole traders in disaster-declared areas. To check eligibility and apply, visit: Services Australia Natural Disaster Support  or log into your myGov  account. How You Can Move Forward Assess your situation  – Document damages and any losses you have incurred Check available support  – Explore state and federal assistance programs that apply to you Reach out for help  – Contact local councils and government agencies for additional guidance Look after your well-being  – Recovery is not just financial; take care of your mental health and seek community support. We understand that recovering from a natural disaster is overwhelming, but you are not alone. Support is available, and assistance is being activated at multiple levels of government to ensure communities can rebuild and thrive again. If you or someone you know needs immediate support, don’t hesitate to reach out and access the help available.

In the current Australian economic landscape, businesses are grappling with several significant challenges: Elevated interest rates High inflation A rising number of business insolvencies. Gerry Harvey, Chairman of Harvey Norman Ltd and a 60-year veteran of the retail industry, has expressed concerns about Australia's economic trajectory. He warns that ongoing government expenditures could perpetuate high interest rates and inflation for at least the next five years. [i]   The Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, has highlighted troubling trends: A 3.5% decline in small business conditions over the past year A two-year consecutive downturn in the small business operating environment A decrease in economic activity generated by small businesses, now accounting for 33% of GDP, down from 40% in 2006 Employment in small businesses has fallen to 42% of the private sector workforce, compared to 53% in 2006. These statistics underscore the mounting challenges faced by business owners and the professionals who support them. [ii]   Australian accounting software provider, MYOB, has observed that many business owners lack a solid grasp of fiscal management. Issues identified include: Inadequate debtor control systems Misunderstanding of supplier payment terms Insufficient planning for tax obligations New business owners encountering significant challenges after approximately six months of operation. Are You Getting the Advice Your Business Needs to Survive and Thrive? With high interest rates, inflation and increasing business failures, now is not the time for business owners and business leaders to rely solely on annual accounts and tax returns. The businesses that will withstand these economic pressures are those that take a proactive approach — seeking strategic financial and commercial guidance beyond compliance. Industry leaders and economic experts are signalling the challenges ahead. The question is, are you prepared? A fresh perspective on your business strategy could make all the difference. Now is the time to engage with advisors who can help you navigate uncertainty and position your business for long-term success. Contact Collins Hume’s Strategy360 today to explore how we can support your business with tailored financial insights and commercial strategies. [i] theaustralian.com.au [ii] asbfeo.gov.au

How Strategy360 By Collins Hume helps business owners unlock growth through mastering margin and capital interplay.  With the ever-evolving business landscape, understanding how to strategically position your business for profitability is more critical than ever.  Strategy360 guides businesses through the four key quadrants of financial efficiency. Businesses in the ideal quadrant achieve superior profitability and scalability.   Read on to find out how we’re providing business owners with expert insights and actionable strategies to help them transition into the ideal quadrant and drive sustainable success.  The Four Business Quadrants  Understanding where your business falls within four quadrants—low margin-high capital, low margin-low capital, high margin-high capital and high margin-low capital—allows you to strategically position your business for growth.   The Gold Standard: High Margin, Low Capital Businesses  Operating with high margins and low capital outlay provides the ultimate outcome for any business owner. This model ensures strong profitability with minimal investment, enabling you to scale quickly and unlock tremendous value.  Differentiation Drives Margin Growth  Differentiation is a factor in increasing margins so a prime strategy that offers unique products or services is essential for business success. Standing out from your competitors through innovation or superior customer service allows your business to command premium pricing and improve customer loyalty, ultimately boosting profitability.  Profitability Through Gross Profit and Capital Management  It’s essential to have the financial insight needed to optimise operations, maintain liquidity and sustain long-term success, and Collins Hume provides guidance on the levers to pull when calculating gross profit and managing capital requirements.  Avoiding the Pitfalls of High Capital, Low Margin Businesses  Many businesses face significant challenges when operating with low margins and high capital requirements. By offering actionable strategies to reduce capital outlay while improving profitability, we help businesses in this quadrant often struggling with strained cash flow and longer payback periods by devising the right strategies to mitigate risks.  A Proven Pathway to Success  Through Strategy360, Collins Hume empowers businesses to strategically navigate their financial landscape, boosting revenue, reducing capital needs and differentiating their offerings to drive long-term profitability and growth. We regularly see opportunities to improve the amount of cash and profit a business generates by making subtle adjustments to managing working capital.  Mastering the balance between margin and capital is crucial for business success. Our goal is to help businesses transition to high-margin, low-capital models, making them well-positioned for growth and superior valuation.  Elevate your business to new heights. Contact Nathan McGrath  on 02 6686 3000 for an obligation-free discussion on how Collins Hume can help you achieve a better performing business and lifestyle.