top of page
Collins Hume
  • phone-519_edited
  • send-mail-2574_edited
  • LinkedIn
  • Facebook
  • Instagram
  • X

320 results found with an empty search

  • Boost Business Value before you exit

    How to Boost Your Business Value Before You Exit Succession planning tips for business owners who want a profitable future Australia is on the verge of the biggest intergenerational transfer of business wealth in its history. As thousands of Baby Boomer business owners prepare for retirement over the next decade, a wave of businesses will hit the market, creating both opportunity and risk. But here’s the catch: more businesses for sale doesn’t mean more buyers. In fact, it’s quite the opposite. Unless your business is in top shape, there’s a very real chance it will struggle to sell or, worse, not sell at all! That’s why now is the time to take a serious look at how your business is positioned and what will drive its appeal to future buyers or successors. Why Succession Planning Can’t Wait At Collins Hume, we work closely with business owners to help them prepare for sale or succession, and one truth stands out: businesses that plan ahead get better results. With more businesses on the market, buyers will gravitate toward high-performing, low-risk opportunities. Those without strong fundamentals may be left behind. Here’s how to make sure you’re not in that boat. Four Key Drivers of Business Value If you want to make your business more attractive and profitable – no matter whether you’re selling in five or 15 years – these are the areas that count most: 1. Sustainable Growth Buyers are looking for revenue they can rely on and scale. Businesses with a clear growth trajectory command higher prices. Demonstrating year-on-year growth or recurring revenue streams shows resilience and future earning potential, making your business a safer bet. 2. Capacity for Scale Does your business have the systems, people and infrastructure in place to keep growing? Buyers want to see that your business isn’t overly reliant on you or a few key people. Strong leadership teams, documented processes and scalable systems signal a well-run operation, and give confidence that performance will continue post-sale. 3. Profitability and ROI The numbers matter. Profit margins, strong cash flow and a high Return on Investment (ROI) are critical to valuation. Compare your business against top performers in your industry. Those in the top 25% consistently achieve better valuations. Ideally, your ROI should exceed 25% to make your business stand out. 4. Risk Management Perceived risk lowers value. Buyers don’t want surprises. They want certainty. The more your business has its legal, financial and operational risks covered, the more desirable it becomes. This includes solid governance, compliance, up-to-date contracts and documented policies. The Bottom Line: Why It Pays to Start Early Preparing your business for sale or succession isn’t just about exiting It’s about increasing your return The difference between a sale that maximises your life’s work and one that underdelivers often comes down to preparation. In a crowded market, high-quality businesses will always win. If you’re not where you want to be today, that’s okay – but now is the time to make changes that shift the needle. At Collins Hume, we help business owners like you understand your business’s value, identify improvement opportunities and put strategies in place to boost both performance and market appeal. Want to maximise your business value before you exit? Start the conversation today. Contact Collins Hume’s Strategy360 Business Advisory team to map out your strategy and secure the future you’ve worked so hard to build.

  • ST Electrical & Data: Powering Regional Projects with Collins Hume by their side

    ST Electrical & Data launched in 2019 as a small but determined business. Based in Northern NSW and owned by Louise and Stuart Tyrrell, the company has grown rapidly, delivering electrical contracting services across residential, commercial and industrial projects. From NSW schools and emergency services stations to the Lismore Regional Gallery and flood recovery work, ST Electrical & Data has made its mark supporting the region during prosperity and hardship. But like many new business owners, their early days were filled with unknowns. “When we first started the business in 2019, we only had a small amount of knowledge of what we needed to run a business,” says Louise. That’s where Collins Hume came in, “With the support of Kristy and the team at Collins Hume, we have been able to navigate the business world with success and we are truly grateful.” Building a Business with Long-Term Thinking ST Electrical & Data credits their longevity to the people around them — both their own team and the clients they work with. “We have an amazing team working for us and we know that they are a huge part of our success. We also have a great relationship with our clients and work hard to keep them.” Their ability to think outside the box and communicate openly has helped them deliver on complex and high-pressure projects, including some during flood recovery when timeframes and expectations were tight. As the business expanded, Collins Hume's role evolved beyond mere compliance. They assisted ST Electrical & Data in setting up the optimal business structure, ensuring tax effective structuring and asset protection. This proactive strategy provided Louise and Stuart with the reassurance that their business foundations were solid, even as their workload and responsibilities grew. Facing Regional Construction Challenges Like many in the construction industry, ST Electrical & Data has had to navigate the fallout of builder liquidations. “This is a big challenge and we saw a few builders within this region go into liquidation last year.” With Collins Hume’s support, they’ve been able to better understand their financial position, manage risks and stay focused on the work at hand. Their advice to others in business is grounded in practical experience. “Keep all avenues open and ensure that you are not relying on one source of income. You have to diversify and consider all opportunities.” It’s this open mindset combined with professional accounting guidance that’s helped them scale sustainably in a competitive market. About ST Electrical & Data ST Electrical & Data delivers high-quality electrical contracting across residential, commercial and industrial sectors in Northern NSW. They’ve been involved in key regional projects, including Lismore flood recovery, school upgrades and emergency service infrastructure. Visit their website www.stelectricaldata.com.au  or Follow on their socials: Instagram @st_electrical_and_data Facebook ST Electrical & Data LinkedIn Stuart Tyrrell Ready to take your business to the next level? Contact Collins Hume's Strategy360  team today.

  • How to Build a High-Performing Team and Thrive

    The Secret to Building a High-Performing Team and Thriving Business Sometimes we sound like a broken record, but we cannot say it often enough: that success is in managing your team and not in "doing" the technical work.     Recruit correctly and manage them well and you will build a great team, with great staff morale and great productivity, profitability and a lifestyle with little stress.  Even with the right recruiting, if managed poorly , you will have poor staff morale, poor productivity, profits, poor lifestyle and lots of stress with high staff turnover.     Poor management of your team will see you constantly dragged back into putting out fires, called working in Quad A (urgent & important) instead of in Quad B (important but not urgent, like training your staff).     Ok common sense you say. But it's harder said than done.  Good management is one of the hardest things to do and if done poorly can cause so much damage to so many people around you. Staff, clients/customers, suppliers and shareholders.     3. It begins with the right person in the right role followed up with micro training, which then reduces the need for micromanaging.     Don’t do the technical work, especially if you "enjoy it" because you are in the wrong seat.  You should enjoy people, to be a good manager. Get as much management training as you can.  Doing the work is easy. Managing staff is a skill and an art and very difficult. It’s not for everyone. But if you want to be successful you have to learn to manage people.     The How - a good manager plays the "ball" and not the "man."  Never blame or judge (playing the man). Focus on finding solutions to problems (playing the ball).    Having difficult conversations A manager has the ability to "confront" situations and have those difficult conversations and not shy away from them otherwise problems fester and grow into bigger problems. Like reprimanding poor behaviour or discussing an invoice with a difficult client.    "Confront" is not the same as being "confrontational". Having a difficult conversation is made easier by focusing on fixing the problem and not blaming or judging the person.     Try it. Next time one of your staff makes a mistake (no facial expressions) just focus on fixing the problem. No blaming or judging and see how it turns out.     If you have a manager who cannot confront situations and is unable to have difficult conversations than they are in the wrong seat and should reconsider whether they should be a manager.     Often if a person is not cut out to manage people, then even micro training will not help.     It’s difficult to change a leopard’s spots.       If a person finds they are constantly surrounded by problems or things are constantly falling around them then it’s a good sign they are in the wrong seat.     If it's not in their nature, get them out of managing otherwise they will do damage to people around them.     Very few people are outright bad. Most are just in the wrong seat. However, in the right seat, they are great!    Grinders should stay at grinding. Minders stay at managing, not grinding. Finders should stay in their lane.     Keep everyone in their lane and bring complementary skills together and watch your team fly.    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.

  • The art of setting Clear Business Objectives

    In business, as in life, the successful among us don't leave their futures to chance; they plan meticulously. It's about knowing where you're heading and setting up the right steps to get there. This isn't just about working hard — it's about working smart with a clear end in mind.    Why plan?    Planning gives you direction and purpose Planning gives your daily efforts direction, turning routine tasks into stepping stones towards your larger goals Without a plan, businesses often react to daily demands without progressing towards strategic goals, leading to burnout and inefficiency.    3 ways you can start to plan effectively:  Set Clear, Measurable Objectives: Define what success looks like for you, not just in business terms but in life.  Reverse-Engineer Your Path: Once you know your end goal, chart a course backward to your current position. Identify key milestones along the way.  Regular Check-ins: Set times to review your progress. Adjustments are not only expected; they’re necessary.  Remember, “You don’t plan to fail; you fail to plan.”     Let’s ensure your hard work today pays off tomorrow.  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.

  • ATO small business benchmarking

    The ATO’s updated small business benchmarking tool  The ATO has updated its small business benchmarks with the latest data taken from the 2022–23 financial year. These benchmarks cover 100 industries and allow small businesses to compare their performance, including turnover and expenses, against others in their industry. While the ATO doesn’t use the benchmarks in isolation, small businesses who fall outside the ATO’s benchmarks are more likely to trigger a closer examination from the ATO. The ATO uses information reported in business tax return with key performance benchmarks for the relevant industry to identify potential tax risks. Aside from determining the risk of unwanted attention from the ATO, the benchmarks can also be used to compare your business performance against other businesses in the same industry. The benchmarks could help you spot areas where you might be able to reduce costs or improve efficiency. The small business benchmarks can be accessed here » Aside from the small business benchmarks, the ATO also has a business viability assessment tool which can help business owners identify whether there are any obvious financial risks. The ATO consider a business to be viable if it is generating sufficient profits to meet commitments to creditors and provide a return to the business owners. If a business isn’t generating profits, the ATO looks at whether the business has sufficient cash reserves to sustain itself. The business viability assessment tool can be found here » Please let us know if you would like us to review your business performance and make recommendations on ways that performance could be improved. Talk with Collins Hume in Ballina on 02 6686 3000 about maximising your outcomes and improving business performance.

  • Year-end tax planning opportunities & risks for taxpayers

    Tax planning opportunities for taxpayers With the end of the financial year fast approaching we outline some opportunities to maximise your deductions and give you the low down on areas at risk of increased ATO scrutiny. Bolstering superannuation  If growing your superannuation is a strategy you are pursuing, and your total superannuation balance allows it, you could make a one-off deductible contribution to your superannuation if you have not used your $30,000 cap. This cap includes superannuation guarantee paid by your employer, amounts you have salary sacrificed into super and any amounts you have contributed personally that will be claimed as a tax deduction. If your total superannuation balance on 30 June 2024 was below $500,000 you might be able to access any unused concessional cap amounts from the last five years in 2024-25 as a personal contribution. For example, if you were $8,000 under the cap in each of the last 5 years, you could contribute an additional $40,000 and take the tax deduction in this financial year at your personal tax rate. To make a deductible contribution to your superannuation, you need to be aged under 75, lodge a notice of intent to claim a deduction in the approved form (check with your superannuation fund), and receive an acknowledgement from your fund before you lodge your tax return. For those aged between 67 and 74, you can only claim a deduction on a personal contribution to super if you meet the work test (i.e., work at least 40 hours during a consecutive 30-day period in the income year, although some special exemptions might apply). If your spouse’s assessable income is less than $37,000 and you both meet the eligibility criteria, you could contribute to their superannuation and claim a $540 tax offset. If you are likely to face a tax bill this year and you made a capital gain on shares or property you sold, then making a larger personal superannuation contribution might help to offset the tax you owe.   Charitable donations  When you donate money (or sometimes property) to a registered deductible gift recipient (DGR), you can claim amounts of $2 and above as a tax deduction. The more tax you pay, the more valuable the tax deductible donation is to you. For example, a $10,000 donation to a DGR can create a $3,250 deduction for someone earning up to $120,000 but $4,500 to someone earning $180,000 or more (excluding Medicare levy). To be deductible, the donation must be a gift and not in exchange for something. Special rules apply for amounts relating to charity auctions and fundraising events run by a DGR. Philanthropic giving can be undertaken in a number of different ways. Rather than providing gifts to a specific charity, it might be worth exploring the option of giving to a public ancillary fund or setting up a private ancillary fund. Donations made to these funds can often qualify for an immediate deduction, with the fund then investing and managing the money over time. The fund generally needs to distribute a certain portion of its net assets to DGRs each year. Investment property owners  If you do not have one already, a depreciation schedule is a report that helps you calculate deductions for the natural wear and tear over time on your investment property. Depending on your property, it might help to maximise your deductions. Risks  Work from home expenses  Working from home is a normal part of life for many workers, and while you can’t claim the cost of your morning coffee, biscuits or toilet paper (seriously, people have tried), you can claim certain additional expenses you incur. But, work from home expenses are an area of ATO scrutiny. There are two methods of claiming your work from home expenses; the short-cut method, and the actual method: The short-cut method allows you to claim a fixed rate of 70c for every hour you work from home for the year ending 30 June 2025. This covers your energy expenses (electricity and gas), internet expenses, mobile and home phone expenses, and stationery and computer consumables such as ink and paper. To use this method, it’s essential that you keep a record of the actual days and times you work from home because the ATO has stated that they will not accept estimates. The alternative is to claim the actual expenses you have incurred on top of your normal running costs for working from home. You will need copies of your expenses, and your diary for at least 4 continuous weeks that represents your typical work pattern. Landlords beware If you own an investment property, a key concept to understand is that you can only claim a deduction for expenses you incurred in the course of earning income. That is, the property normally needs to be rented or genuinely available for rent to claim the expenses. Sounds obvious but taxpayers claiming investment property expenses when the property was being used by family or friends, taken off the market for some reason or listed for an unreasonable rental rate, is a major focus for the ATO, particularly if your property is in a holiday hotspot. There are a series of issues the ATO is actively pursuing this tax season. These include: Refinancing and redrawing loans – you can normally claim interest on the amount borrowed for the rental property as a deduction. However, where any part of the loan relates to personal expenses, or where part of the loan has been refinanced to free up cash for your personal needs (school fees, holidays, etc) then the loan expenses need to be apportioned and only that portion that relates to the rental property can be claimed. The ATO matches data from financial institutions to identify taxpayers who are claiming more than they should for interest expenses. The difference between repairs and maintenance and capital improvements  –  while repairs and maintenance costs can often be claimed immediately, a deduction for capital works is generally spread over a number of years. Repairs and maintenance expenses must relate directly to the wear and tear resulting from the property being rented out and generally involve restoring the property back to its previous state, for example, replacing damaged palings of a fence. You cannot claim repairs required when you first purchased the property. Capital works however, such as structural improvements to the property, are normally deducted at 2.5% of the construction cost for 40 years from the date construction was completed. Where you replace an entire asset, like a hot water system, this is a depreciating asset and the deduction is claimed over time (different rates and time periods apply to different assets). Co-owned property  – rental income and expenses must normally be claimed according to your legal interest in the property. Joint tenant owners must claim 50% of the expenses and income, and tenants in common according to their legal ownership percentage. It does not matter who actually paid for the expenses. Gig economy income It’s essential that any income (including money, appearance fees, and ‘gifts’) earned from platforms such as Airbnb, Stayz, Uber, YouTube, etc., is declared in your tax return. The tax rules consider that you have earned the income “as soon as it is applied or dealt with in any way on your behalf or as you direct”. If you are a content creator for example, this is when your account is credited, not when you direct the money to be paid to your personal or business account. Squirrelling it away from the ATO in your platform account won’t protect you from paying tax on it. Since 1 July 2023, the platforms delivering ride-sourcing, taxi travel, and short-term accommodation (under 90 days), have been required to report transactions made through their platform to the ATO under the sharing economy reporting regime so expect the ATO to utilise data matching activities to identify unreported income. Other sharing economy platforms have been required to start reporting from 1 July 2024. If you have income you have not declared, do it now before the ATO discover it and apply penalties and interest. Need tax planning support or have tax deduction questions? Talk with Collins Hume in Ballina on 02 6686 3000 about maximising your outcomes and reducing your risk.

  • Growth Is Good. Impact Is Better. Here’s Why.

    'Real' Impact is the Future of Business Every business wants to grow. More customers. More revenue. More influence. But in today’s world, growth alone is not enough. Customers, employees and even investors are looking for something else — impact. Not just words. Real, measurable change. And businesses that integrate impact into their operations don’t just make a difference. They thrive. Why Impact is a Business Advantage It’s easy to talk about purpose. It’s harder to prove impact. But here’s what’s happening right now: Consumers are choosing companies that deliver impact. ( 77% of people prefer to buy from businesses that make a difference. ) Employees aren’t just working for a paycheck — they want to see the impact of their efforts. ( Companies with strong impact-driven cultures have 40% higher retention rates. ) Investors aren’t just looking at profits — they’re looking at sustainability and long-term impact. ( ESG investments have doubled in the past five years. ) It’s not about charity. It’s about how businesses create value beyond transactions — value that builds trust, drives loyalty, and generates sustainable growth. Impact is Measurable. Purpose is Not. A purpose statement sounds nice. But impact is what actually moves the needle. Purpose says: “We care about education.” Impact says: “Every client payment funds a day of education for a child.” Purpose says: “We support sustainability.” Impact says: “Every product we sell gets plastic waste removed from the ocean.” Purpose says: “We believe in giving back.” Impact says: “We’ve provided 500,000 meals through our business operations.” See the difference? One is abstract. The other is real. And customers, employees and stakeholders respond to what they can see, measure and experience. How Business Owners Can Build Impact into Everyday Operations The best part? You don’t need a massive budget or a full-time CSR team to make an impact. It starts with small, strategic decisions that drive measurable change: Tie impact to transactions. (eg “For every invoice paid, we provide clean water to a family in need.”) Measure and share results. (Show real numbers—customers and employees trust businesses that prove their impact.) Make it visible. (Incorporate impact stories into marketing, team meetings, and investor reports.) Engage your employees. (Let your team be part of the impact—they’ll stay longer and perform better.) Because impact isn’t just a nice-to-have. It’s a growth strategy. The Businesses That Lead With Impact Will Lead the Future Customers are more informed than ever. They can see through vague promises and generic mission statements. What they want is proof. And businesses that deliver measurable impact (not just words) are the ones that will win. So, the question is: What impact is your business creating today? Because if you can see it, measure it, and share it—it’s not just a feel-good idea. It’s real. It’s business. And it’s the future. Your Next Step: Make Impact Your Competitive Advantage Ready to turn your purpose into measurable impact? Contact Collins Hume to start building a business that truly makes a difference. About Collins Hume's Impact and Legacy At Collins Hume, success means more than financial growth — it means creating meaningful, lasting impact. Through global initiatives like being Climate Neutral, 1% for the Planet and B1G1, every time you work with us you're contributing to real change — from restoring sight and supporting farmers to protecting native habitats. Because when businesses give back, everyone moves forward. Read more here » This article was first published by B1G1 on LinkedIn as Real Impact Is the Future of Business by B1G1 on LinkedIn . (March 2025)

  • No free lunches in aged care anymore

    Understanding the Real Cost of Support at Home from July As 1 July rapidly approaches, we are seeing more detail from the Government around the changes to residential and home care – particularly around how aged care will be funded and who pays for it. Let’s take a closer look at home care … or Support at Home as it’s going to be known. Right now, people get assessed and approved for a home care package. The funding is provided by the Government to a client-nominated home care services provider. The provider (typically) charges a 30% to 35% combined administration and case management fee then provides a range of home care services at varying hourly rates. The Government assesses your ability to pay an income tested fee towards the selected services.   Enter the new world … Support at Home The Government will pay the client-nominated service provider 10% of the selected package value towards care management services. So where does the provider make up the funding difference? The services provided to you will be classified into three service groups: clinical care, independence and everyday living. Clinical care will be totally funded by the Government with no co-contribution for you to pay regardless of whether you are on a full- or part-pension or a self-funded retiree. A means test that looks at your assets and income will determine your contributions towards independence and everyday living services. The co-contribution for independence services will range from 5% for full pensioners to 50% for self-funded retirees, and for everyday living it will be between 17.5% for full pensioners and 80% for self-funded retirees. To assist providers with hourly service rates, the Government recently released a report showing “indicative” prices. Some of the rates make for interesting reading. Below is a worked example that I recently came across of what this might look like. Shirley is a self-funded retiree who will receive a Level 5 Support at Home package which provides $40,000 a year of funding. This is what her package might look like: 1 hour a week of nursing and allied health, costing $9,880 – Shirley will pay $0 3 hours a week of independence services at a cost of around $13,000 – Shirley will pay $6,500 a year (50% of $13,000) 3 hours a week of help with everyday living at a cost of $15,600 – Shirley will pay $12,480 a year (80% of $15,600) In summary, for 7 hours of services over the week (less than 1 hour a day), Shirley will need to pay almost $19,000 a year … and the Government will pay the rest ($21,000 a year). Is it worth it?   If Support at Home provides the care and support people need to live independently in their own home for longer … it may very well be a worthwhile investment. It’s going to require people to really think long and hard about what care and support they need now and into the future and where to get that care and support from … either via the Support at Home program or privately somewhere else or a combination of both.  This is where Family Aged Care Advocates can work with you to help you make this assessment and decisions.  How Family Aged Care Advocates (FACA) work 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 costly and time-consuming to fix. Feel free to visit FACA at www.familyagedcareadvocates.com.au  or call Shane Hayes on 0411 264 002. Shane Hayes Family Aged Care Advocates

  • Property subdivision projects: the tax implications 

    As the urban sprawl continues in most major Australian cities, we are often asked to advise on the tax treatment of subdivision projects. Before jumping in and committing to anything, it is important to understand the tax liabilities that might arise from these projects. Unfortunately, many people make incorrect assumptions about the way that subdivision projects will be taxed, often believing that any tax exposure will be minimal. However, the reality is that there are a number of important issues that need to be considered and that could have a significant impact on the overall profitability of the project. For example, when someone buys a property with the intention of subdividing it into smaller lots and selling them at a profit in the short term this will normally mean that any profit is taxed as ordinary income, rather than being taxed under the CGT rules. This means that the general CGT discount would not be available to reduce the tax liability, even if the property has been held for more than 12 months and it would not be possible to apply capital losses to reduce the taxable amount. Also, in situations like this the sale of the subdivided lots will often trigger a GST liability, further reducing any after-tax profits generated from the project. Many people fail to properly estimate the income tax and GST liabilities that will arise from property projects and can end up with a nasty shock when they realise the impact this has on the economic viability of the project. The ATO has recently updated its guidance in this area, adding a number of new and practical examples to demonstrate how the tax rules will typically apply. The ATO’s examples cover the income tax and GST consequences of common property transactions such as property flipping, subdivision projects and property development activities. For example, in one of the examples the ATO looks at a scenario where the taxpayer repeatedly buys, renovates and sells properties. They engage in market research, seeking professional advice, taking out business loans, and then carrying out renovations in a business-like manner. The ATO takes the view that the taxpayer is running a business, since the taxpayer’s primary intention is to make a profit from the renovations and reselling of the property. The profits are treated as ordinary income and taxed on revenue account. The CGT provisions don’t apply here since the property is held as trading stock. However, GST doesn’t apply on this particular situation as long as the properties have not undergone “substantial renovations”, which needs to be considered carefully. On the other hand, in another example the ATO deals with a taxpayer who subdivides the vacant land from their main residence because of ill health and growing debt levels. Since they didn’t initially intend to profit from the subdivision and sale of the vacant land, the sale is viewed as the mere realisation of a capital asset rather than a business venture. The activities related to the subdivision are limited to necessary actions for council approval, reflecting a low level of complexity and small scale. The sale of the subdivided lot is taxed on capital account under the CGT rules, qualifying for the general CGT discount if the land has been held for more than 12 months. However, the main residence exemption cannot apply because the land is not being sold together with the dwelling that has been used as the taxpayer’s main residence. You can find the ATO’s guide and examples here » Need tax support or have property questions? Talk with Collins Hume in Ballina on 02 6686 3000 about maximising your outcomes and reducing your risk.

  • Instant asset write-off threshold finally confirmed

    It has been a long time coming, but the Government finally passed legislation increasing the instant asset write-off threshold for the year ending 30 June 2025 to $20,000. This was announced back in the 2024-25 Federal Budget but the Government faced a number of hurdles in terms of passing the legislation. This basically means that individuals and entities who carry on a business with turnover of less than $10m can often claim an immediate deduction for the cost of depreciating assets (eg, plant and equipment) that are acquired during the 2025 financial year as long as the cost of the asset, ignoring GST credits that can be claimed, is less than $20,000. If you are thinking about purchasing an asset before 30 June 2025 with the hope of claiming an immediate deduction, then please reach out to us to confirm the position. The rules contain a number of tricks and traps which we can help you to navigate. The threshold is due to drop back to $1,000 from 1 July 2025 unless further legislation is passed to provide another temporary increase to the threshold or a permanent modification. Need instant asset write-off support or have questions? Talk with Collins Hume in Ballina today about maximising your outcomes and reducing your risk.

  • Collins Hume named Accounting Award Finalists

    Collins Hume named Finalists in the 2025 Australian Accounting Awards Collins Hume has been named Finalists in two categories at the 2025 Australian Accounting Awards: Regional/Suburban Firm of the Year and Marketing Program of the Year. This recognition places Collins Hume among Australia’s leading accounting firms, with the awards program celebrating the profession’s outstanding achievements across 36 categories. Finalist selection reflects the calibre of submissions, which grew by 20% this year! “There was a remarkable increase in submissions this year. As Finalists, Collins Hume has been recognised amongst Australia’s top accounting professionals and businesses,” said Natalie Phan from the Australian Accounting Awards Team at Momentum Media. Partner Peter Fowler said it was important to recognise the Collins Hume team for their energy, care and professionalism. “Being recognised in two national categories highlights not only the strength of our regional presence but also our focus on innovative communication. Our team’s commitment to driving meaningful outcomes for our clients is what sets us apart.” “Being nominated isn’t just about external recognition; it’s a reflection of the culture we’ve built together and the standards we uphold for our clients and community.” “Awards might not show up on a balance sheet, but they do speak volumes about our values, commitment and reputation. They validate the things that can’t always be measured like quality service, innovation, teamwork and impact,” Peter added. The winners will be announced at a gala awards evening in Sydney on Friday 20 June 2025. Read more at https://www.accountantsdaily.com.au/australian-accounting-awards/awards/about

  • Full House for Collins Hume Cash Is King Event

    Managing cash flow for business and lifestyle success A full house of Northern Rivers business owners gathered at Ramada Ballina on 6 May for Collins Hume’s “Cash is King” seminar, an energising and practical session designed to help local businesses unlock cash flow and drive future-focused decision-making. Delivered by Collins Hume’s Senior Business Advisor Nathan McGrath together with renowned Business Strategist Mark Holton, the session was praised by attendees for its clarity, practical relevance and impact. “It was indeed my pleasure to participate in the Collins Hume Cash is King seminar,” Mark Holton said. “I thought it was meticulously organised, very well attended with engaged delegates and brilliantly presented by Nathan.” “I have done several of these sessions for accounting firms in Australia and overseas and this was by far the best!” Delegates walked away with actionable tools to strengthen their business resilience, including scenario testing techniques and the ‘1% driver calculator’, which illustrates the profound impact of small operational changes. Attendees appreciated the power of cash flow forecasting, the use of business modelling software, and Collins Hume’s 360° approach to business advice. Many reflected on a renewed motivation to future-proof their business, with one delegate noting, “It’s exciting to see how small shifts can make a big difference.” Others highlighted the power of understanding key financial drivers beyond profit, particularly the fragility of profit when cash flow isn’t managed well. Nathan McGrath said, “It was great to see everything come together so well. It was an awesome session for everyone involved!” The event reinforced the role cash flow plays not just in surviving uncertainty but in seizing growth opportunities. Collins Hume’s ongoing commitment to practical, strategic business advisory continues to resonate strongly with the Northern Rivers business community. For more about Collins Hume’s 360° Business Solutions visit collinshume.com/360 . A Lasting Impact Beyond the Seminar Thanks to attendee support, this event delivered impact far beyond the business community. Through ticket sales and attendee participation, 66 weeks of education  will be provided to children in need via B1G1 and partner charity So They Can, helping create brighter futures through learning. We sincerely thank everyone who attended for contributing to this meaningful outcome! Learn more at collinshume.com/legacy  and www.sotheycan.org .

bottom of page