Cash is Making a Comeback – Is Your Business Ready to Take It? For years, businesses have been moving away from cash – and for good reason. Digital payments are quick, traceable and cut down on the risk of theft or counting errors. But that tap-and-go world might soon have to make room again for notes and coins. The Government has released draft regulations that would require certain retailers to accept cash payments, ensuring Australians can still buy essential goods like groceries and fuel – even when technology fails. The change aims to stop people from being excluded when power, internet or card systems go down, or when they simply prefer to pay in cash. Who Will Need to Accept Cash – and Who Won’t? The new rules are targeted and, importantly, practical. They’ll apply to fuel stations and grocery retailers, including both major supermarket chains and independent operators, but only for in-person transactions under $500. That means you won’t have to accept someone paying for a $700 tyre replacement or bulk farm supplies in cash – it’s about the everyday essentials. If your business (or franchise group) has an annual turnover of less than $10 million, you’ll be exempt. That’s good news for most small businesses such as family-run grocers, local cafés and corner stores already managing tight margins and staffing challenges. The regulations are expected to take effect from 1 January 2026, with a review after three years to see how the system is working in practice. Why It’s Happening The move comes as part of a broader push to maintain access and fairness in Australia’s payment system. The Government and industry groups have recognised that while most Australians are happy to tap their card or phone, around 10–15% still prefer to use cash – particularly older Australians and those in regional or remote areas. There’s also a resilience angle: during bushfires, floods or power outages, card networks can go offline. In those moments, cash becomes essential. What This Means for Your Business For larger retailers, this change will mean dusting off cash-handling policies and reintroducing processes that many have phased out. That may include: Re-establishing cash floats and tills Staff training to handle and verify cash More frequent bank deposits and reconciliation procedures For small businesses that fall under the $10 million exemption, the key step will be to document your turnover clearly so you can demonstrate that the exemption applies. We can help ensure your records and structures support that. There may also be commercial upside. Accepting cash could attract a segment of customers who’ve drifted away as stores went digital – especially in regional areas where cash use remains strong. A small business that promotes “cash welcome” could even gain new loyal customers who value convenience and personal service. Preparing for the Change With final regulations expected soon, it’s worth starting to plan now. Review your payment policies, assess whether you’re likely to be caught by the new rules, and budget for any setup or compliance costs. If you’re exempt, ensure your records are watertight. If not, look for ways to streamline cash handling – for example, by using digital cash counters or smart safes to reduce errors and time spent on reconciliations. Looking Ahead Cash isn’t going away just yet. This reform is about maintaining choice, resilience and fairness in how Australians pay – and ensuring businesses are ready when customers want to use it. For help assessing how these cash rules could affect your operations or what the exemption means for your business, get in touch with Collins Hume on 02 6686 3000.

Super on Payday: Fundamental Changes for Employers If you run a business, you already know the juggling act that comes with managing the payroll process — paying staff on time, managing cash flow and staying compliant. From 1 July 2026, there’s a major change coming that will reshape how you handle superannuation contributions for staff. It’s called Payday Super, and it became law on 4 November 2025. The new rules are designed to close Australia’s $6.25 billion unpaid super gap and make sure employees — especially casual and part-time workers — get their retirement savings when they get paid. What’s Changing? From 1 July 2026, you’ll need to pay superannuation guarantee (SG) contributions at the same time as wages, rather than weeks or months later. Employers will have seven business days from payday to ensure contributions hit employees’ super funds. If payments are late, the Superannuation Guarantee Charge (SGC) will apply — that means paying the missed super plus an interest and administration penalty. Once SGC has been assessed, additional interest and penalties may apply if the SGC liability isn’t paid in full. Unlike the existing system, SGC amounts will normally be deductible to employers, although penalties for late payment of SGC won’t be deductible. On top of this, the ATO will retire the Small Business Superannuation Clearing House (SBSCH) platform from 1 July 2026 for all users and alternative options should be sought. The change isn’t just about compliance — it’s about impact. The Government estimates the earlier payments could boost an average worker’s retirement balance by around $7,700. Why It’s Good for Business This reform might sound like extra admin, and it might take a bit of getting used to, but it can actually simplify your payroll process and strengthen your reputation as an employer. Less admin – Paying super when you run payroll means no more quarterly payment crunches. Fewer compliance risks – ATO data-matching will pick up issues faster, helping you avoid penalties before they snowball. Stronger employee trust – Staff can see their super growing in real time, which might help with engagement and retention. Smoother cash flow management – Paying smaller, regular amounts of super is often easier to manage than large quarterly sums. The ATO will take a “risk-based” approach for the first year, focusing on education and helping businesses transition smoothly. If you pay on time, you’ll likely be flagged as low risk, meaning fewer compliance checks. How to Get Ready — Practical Steps to Take Now You’ve got time before the rules kick in, but the smart move is to prepare early. Here’s how: 1. Check your payroll software. Most modern systems (like Xero, MYOB, or QuickBooks) already support payday-aligned super. Confirm your setup and check if any updates or integrations are needed. 2. Map your pay cycles. Note how often you pay staff (weekly, fortnightly, monthly) and calculate the seven-day payment window for each. 3. Brief your team. Make sure whoever manages payroll understands the changes. The ATO has free online resources and webinars to help. 4. Plan your cash flow. Consider shifting from quarterly to more regular payments now to get used to the timing. Smaller, frequent super payments can reduce cash flow shocks. 5. Monitor and review. Set up a monthly check to ensure super contributions have cleared correctly. Keep an eye on ATO updates as final guidance is released. If you outsource payroll, contact your provider soon — many are already updating systems for Payday Super and can help you make a seamless switch. The Bottom Line Payday Super isn’t just a compliance change — it’s an opportunity to make your payroll more efficient, your staff happier and your business more compliant with less effort. With the laws now passed and just over 6 months to prepare, it’s time to get ahead of the curve. For help reviewing your payroll setup or planning the transition, get in touch with our team on 02 6686 3000. Collins Hume can help you make sure your business is ready to go when Payday Super commences.

In the NFP and for-purpose sector, the word strategic gets used liberally, yet few organisations use it correctly. When operational tasks and tactical plans get mislabelled as “strategy”, it becomes harder to stay focused on purpose, deliver impact and make evidence-informed decisions. Drawing on insights from NFP Success , this article breaks down what strategic  really means for not-for-profits including how NFP organisations can strengthen strategic thinking, planning and execution. 1. Strategic thinking: seeing beyond day-to-day pressures Strategic thinking is a mindset, not a document. It’s the ability to step back, challenge assumptions and look ahead to emerging trends, risks and opportunities. For NFPs navigating shifting funding, policy changes and evolving community needs, this mindset is essential for staying agile and impact-focused. 2. Strategic planning: turning vision into a practical roadmap Where strategic thinking explores the future, strategic planning gives it structure. A true strategic plan should clarify: long-term priorities how resources will be allocated what success looks like what will be delivered across short, medium and long-term horizons. Too often, NFPs confuse quarterly work plans or program documents with strategy. These are important, but they are operational or tactical, not strategic. 3. Align strategy, operations and tactics (and know the difference) Effective organisations understand the three layers: Strategic: long-term direction and big-picture priorities Operational: systems, processes and resourcing that support strategy Tactical: day-to-day tasks that deliver programs and services. All three matter but only when they work together. Strategy sets the direction. Operations make it possible. Tactics bring it to life. 4. Anchor every decision in your Theory of Change For NFPs, strategy must be explicitly tied to purpose. That means connecting your strategic plan to your Theory of Change — the model that explains how your activities lead to outcomes and social impact. Every initiative should be tested against it: Does this move us toward our intended outcomes? Does it strengthen our impact? If not, why are we doing it? This clarity helps funders, Boards and communities see exactly how your choices advance the impact you promise. 5. Strategy is cultural, not just a document on a shelf Strategic thinking must be embraced across the organisation, starting with the Board. Without leadership commitment, strategy becomes overshadowed by reactivity, and innovation is quickly lost. When everyone understands the strategic direction — and how their work fits into it — execution becomes stronger, faster and more purposeful. What this means for your NFP organisation Being genuinely strategic is about disciplined choices, clear priorities and alignment across every layer of planning. For NFPs looking to strengthen outcomes, improve decision-making and position themselves for long-term impact, 2026 is the year to refine strategic thinking and reconnect planning to purpose. Ready to sharpen your strategy and align your organisation for greater impact? Take our NFP Risk Survey now and start making more informed, confident decisions for your NFP organisation’s future at https://www.collinshume.com/nfp  or contact Nathan McGrath on 02 6686 3000. Practical Strategies for NFP Growth, Governance and Sustainability

Fundraising is evolving fast and not-for-profits that adapt will be the ones that strengthen revenue, deepen supporter trust and secure long-term sustainability. Drawing on expert insights from the Institute of Community Directors Australia (ICDA) and journalist Matthew Schulz, current fundraising trends point clearly to one thing: lasting relationships outperform one-off wins. Discover the key fundraising trends set to shape 2025 — from ethical AI and legacy giving to stronger donor relationships and board-led engagement — and learn how your organisation can use them to build sustainable, long-term support. Here’s what every NFP should be paying attention to in 2026. 1. Move beyond “low-overheads” and advocate for “pay what it takes” The “starvation cycle” — forcing charities to do more with less — is no longer sustainable. Sector leaders continue to push for “pay what it takes” funding so NFPs can properly resource impact. Tip:  Educate funders on true program costs and share real examples of the infrastructure needed to deliver outcomes. 2. Use AI responsibly with human oversight AI can streamline donor communications, segment supporters and improve fundraising efficiency. But fundraisers must have clear policies, governance and transparency. Tip:  Develop an AI-use framework aligned with your organisation’s values, so supporters trust how their data and stories are handled. 3. Gifts in wills remain one of the biggest growth areas Australia is entering a period of significant intergenerational wealth transfer with an estimated $2.6 trillion by 2040. Gifts in wills programs are set to become one of the most important revenue drivers for charities of all sizes. Tip:  Keep bequests visible year-round and proactively educate supporters about legacy giving. 4. Relationships matter more than grant volume According to Equitable Philanthropy CEO Catherine Brooks, scattershot grant applications are no longer effective. Funders want alignment, transparency and deep partnership. Tip:  Invest in year-round relationship cultivation: regular updates, strategic conversations and authentic invitations to see impact first-hand. 5. CEOs and Boards must lead fundraising efforts Boards and Executive Teams play a critical role in securing major gifts, stewarding relationships and building credibility with funders. Tip:  Set clear expectations: KPIs for CEO-level funder meetings, donor stewardship plans and annual board engagement goals. 6. Regular giving and committed memberships build resilience GiveNow’s Cathy Truong notes that while one-off donations fluctuate, monthly donors remain engaged for around two years, providing predictable cashflow. Membership models also create stronger emotional connection and long-term advocacy. Tip:  Prioritise donor retention over reach. Encourage monthly donations, share impact frequently and make sign-ups seamless. What this means for your NFP organisation 2026 is all about sustainable funding, strong governance, ethical technology use and deep supporter relationships. Whether your organisation provides community services, advocacy, education, wellbeing programs or local support, these trends offer a clear opportunity to strengthen your own impact story. By adopting best-practice fundraising principles and communicating value consistently, NFPs of all sizes can thrive in an increasingly competitive environment. Ready to strengthen your NFP's fundraising strategy? Take our NFP Risk Survey now and start making more informed, confident decisions for your NFP organisation’s future at https://www.collinshume.com/nfp  or contact Nathan McGrath on 02 6686 3000. Practical Strategies for NFP Growth, Governance and Sustainability Read full article: “What not-for-profits need to know about fundraising in 2025”  by Matthew Schulz, Institute of Community Directors Australia (ICDA), 18 Feb 2025.

Ballina local Sam Gardnir has taken a winding, but ultimately rewarding, path back to the accounting profession. After joining Collins Hume in July 2025, he’s quickly become known for his calm client rapport, natural empathy and grounded understanding of how business operates. Born in Lismore and raised in Ballina, Sam grew up around small business. His parents having run two well-loved local businesses which imbued much of his early understanding of community, service and work ethic. From trainee accountant to retail management and back again Sam first entered accounting in 2015 as a trainee at Kelly and Shannon’s former firm while studying his Bachelor of Business (Finance) at Southern Cross University. “I loved the foundations I built early on,” he says. “But back then, I needed to try something different.” That took Sam to a Gold Coast firm, where he continued as an accounting trainee. When he later returned to Ballina, he stepped temporarily away from the profession, taking on roles in FMCG retail. His natural aptitude for operations, systems and people saw him quickly move into management and then into product data analysis at head office – experiences that gave him a unique vantage point on business performance, consumer behaviour and operational realities. “That perspective enhanced the way I understand business,” Sam explains. “It helps me see challenges through a client’s lens.” All the while Kelly encouraged him to come over to Collins Hume, which was the turning point. Once he’d completed his degree, Sam made the leap. Sam recalls the mix of excitement and nerves returning to accounting after time away. “It felt daunting coming back into the field, but the transition has been great.” “Collins Hume has been incredible. The support, the culture, the people – it’s refreshing. It opened my eyes to how engaged the firm is with the community.” Working in Chris’ team, Sam is now deep into company financials and business returns for partnerships, sole traders, etc gaining momentum daily. “I really enjoy getting a read on where our clients they’re at,” Sam says. “Sometimes the technical work is only the start; knowing how to talk with people is how you build trust.” “I wanted to work somewhere with integrity, where actions match words,” he says. “What I see at Collins Hume every day is people genuinely doing the right thing by clients and by each other. That aligns with my own values.” Returning to accounting at the right moment played a big role “Sometimes timing is everything. It was the right time for me to branch out and give my accounting career the focus it deserved.” Away from the office, Sam is happiest outdoors. He’s a dedicated fisherman fishing off rocks and local beaches, hits the gym daily and runs regularly. Sport has also been a big part of his life, having played rugby league in the local NRRRL Competition for Ballina, Evans Head and Lismore Marist Brothers before retiring in 2016 – something he wants to get back into in the future. A personal high point so far has been graduating from university – a milestone he got to celebrate with some very important members of his family. When asked about the biggest lesson he’s learned, Sam doesn’t hesitate. “You can let years slip by, but it’s never too late to make a change.” Friendly, grounded, community-minded and driven with purpose, Sam brings a perspective that strengthens Collins Hume’s promise to deliver more than numbers. And he’s determined to build a career that makes a difference.

ATO Interest Charges are no longer deductible – What You Can Do Leaving debts outstanding with the ATO is now more expensive for many taxpayers. As covered in an earlier blog post on this topic , general interest charge (GIC) and  shortfall interest charge (SIC) imposed by the ATO is no longer tax-deductible from 1 July 2025. This applies regardless of whether the underlying tax debt relates to past or future income years. With GIC currently at 11.17%, this is now one of the most expensive forms of finance in the market — and unlike in the past, you won’t get a deduction to offset the cost. For many taxpayers, this makes relying on an ATO payment plan a costly strategy. Refinancing ATO debt Businesses can sometimes refinance tax debts with a bank or other lender. Unlike GIC and SIC amounts, interest on these loans might be deductible for tax purposes, provided the borrowing is connected to business activities. While tax debts will sometimes relate to income tax or CGT liabilities, remember that interest could also be deductible where money is borrowed to pay other tax debts relating to a business, such as: GST PAYG instalments PAYG withholding for employees FBT However, before taking any action to refinance ATO debt it is important to carefully consider whether you will be able to deduct the interest expenses or not. Individuals If you are an individual with a tax debt, the treatment of interest expenses incurred on a loan used to pay that tax debt really depends on the extent to which the tax debt arose from a business activity: Sole traders:  If you are genuinely carrying on a business, interest on borrowings used to pay tax debts from that business is generally deductible. Employees or investors:  If your tax debt relates to salary, wages, rental income, dividends, or other investment income, the interest is not deductible. Refinancing may still reduce overall interest costs depending on the interest rate on the new loan, but it won’t generate a tax deduction. Example:  Sam is a sole trader who runs a café. He borrows $30,000 to pay his tax debt, which arose entirely from his café profits. The interest should be fully deductible. However, if Sam also earns salary or wages from a part-time job and some of his tax debt relates to the employment income, only a portion of the interest on the loan used to pay the tax debt would be deductible. If $20,000 of the tax debt relates to his business and $10,000 relates to employment activities, then only 2/3rds of the interest expenses would be deductible. Companies and trusts If a company or trust borrows to pay its own tax debts (income tax, GST, PAYG withholding, FBT), the interest will usually be deductible if it can be traced back to a debt that arose from carrying on a business. However, if a director or beneficiary borrows money personally to cover those debts, the interest would not normally be deductible to them. Partnerships The position is more complex when it comes to partnership arrangements. If the borrowing is at the partnership level and it relates to a tax debt that arose from a business carried on by the partnership then the interest should normally be deductible. For example, this could include interest on money borrowed to pay business tax obligations such as GST or PAYG withholding amounts. However, the ATO takes the view that if an individual who is a partner in a partnership borrows money personally to pay a tax debt relating to their share of the profits of the partnership, the interest isn’t deductible. The ATO treats this as a personal expense, even if the partnership is carrying on a business activity. Practical takeaway Leaving debts outstanding with the ATO is now more expensive than ever because GIC and SIC are no longer deductible. Refinancing the tax debt with an external lender might provide you with a tax deduction and might also enable you to access lower interest rates. The key is to distinguish between tax debts that relate to a business activity and other tax debts. For mixed situations, you may need to apportion the deduction. If you’re unsure how this applies to you, talk to us before arranging finance. With the right strategy, you can manage tax debts more effectively and avoid costly surprises.

Trust Resolutions – Why Timing and Evidence Matter A recent decision of the Administrative Review Tribunal ( Goldenville Family Trust v Commissioner of Taxation  [2025]) highlights the importance of documentation and evidence when it comes to tax planning and the consequences of not getting this right. The case involved a family trust which generated significant amounts of income. For the 2015, 2016 and 2017 income years, the trustee attempted to distribute most of the income to a non-resident beneficiary. As the trustee believed the income was classified as interest (this was challenged successfully by the ATO), the trustee assumed that the income would be subject to a final Australian tax at 10%, under the non-resident withholding rules. This was clearly more favourable than having the income taxed in the hands of Australian resident beneficiaries at higher marginal rates. However, the ATO argued that the distribution resolutions were invalid and the Tribunal agreed. Why? The main reason was a lack of evidence to prove that the distribution decisions were made before the end of the relevant financial years. While there were some documents that were purportedly dated and signed “30 June”, the Tribunal wasn’t convinced that the decisions were actually made before year-end and it was more likely that these documents were prepared on a retrospective basis. The evidence suggested the decisions were probably made many months after year-end, once the accountant had finalised the financial statements. The outcome was that default beneficiaries (all Australian residents) were taxed on the income at higher rates. Timing of trust resolution decisions is critical For a trust distribution to be effective for tax purposes, trustees must reach a decision on how income will be allocated by 30 June each year (or sometimes earlier, depending on the trust deed). It might be OK to prepare the formal paperwork later, but those documents must reflect a genuine decision made before year-end. For example, let’s say a trust has a corporate trustee with multiple directors. The directors meet at a particular location on 29 June and make formal decisions about how the income of the trust will be appointed to beneficiaries for that year. Someone keeps handwritten notes of the meeting and the decisions that are made. On 5 July the minutes are typed up and signed. The ATO indicates that this will normally be acceptable, but subject to any specific requirements in the trust deed. If the ATO believes the decision was made after 30 June (or documents were backdated), the resolution can be declared invalid. In that case, you might find that one or more default beneficiaries are taxed on the taxable income of the trust or the trustee is taxed at penalty rates. This could be an unexpected and costly tax outcome and could also lead to other problems in terms of who is really entitled to the cash. Broader lessons – it’s not just about trust distributions The timing issue is not confined just to trust distribution situations. Other areas of the tax system also turn on when a decision or agreement is actually made, not just when it is eventually recorded. For example, if a private company makes a loan to a shareholder in a given year, that loan must be repaid in full or placed under a complying Division 7A loan agreement by the earlier of the due date or lodgement date of the company’s tax return for the year of the loan. If not, a deemed unfranked dividend can be triggered for tax purposes. If a complying loan agreement is put in place then minimum annual repayments normally need to be made to avoid deemed dividends being recognised for tax purposes. A common way to deal with loan repayments is by using a set-off arrangement involving dividends that have been declared by the company. However, in order for the set-off arrangement to be valid there are a number of steps that need to be followed before the relevant deadline. The ATO will typically want to see evidence which proves: When the dividend was declared; and When the parties agreed to set-off the dividend against the loan balance. If there isn’t sufficient evidence to prove that these steps were taken by the relevant deadline then you might find that there is a taxable unfranked deemed dividend that needs to be recognised by the borrower in their tax return. Documenting decisions before year-end The key lesson from cases like Goldenville  is that documentation shouldn’t be an afterthought — lack of contemporaneous documentation can fundamentally change the tax outcome. What normally matters most is when the relevant decision is actually made, not when the paperwork is drafted. In practice, this often means: Check relevant deadlines and what needs to occur before that deadline. If a decision needs to be made before the deadline, ensure that a formal process is followed to do this. For example, determine whether certain individuals need to hold a meeting or whether a circular resolution could be used. Produce contemporaneous evidence of the fact that the decision has been made. You might consider sending a brief email to your accountant or lawyer explaining the decision that has been made before the relevant deadline , basically providing a time-stamped record of the decision. Finalise paperwork: formal minutes of meetings can sometimes be prepared after year-end, but they must accurately reflect the earlier decision. Thinking carefully about timing — and building a habit of producing clear evidence of decisions as they are made — is often the difference between a tax planning strategy working as intended and an expensive dispute with the ATO. Don’t leave your trust resolutions until it’s too late. Speak with Collins Hume before 30 June to make sure your decisions are properly documented and compliant.

A Fresh, Joyful Look at the New B1G1: Your Invitation to Something Remarkable There’s something special happening at B1G1 — and you’re invited to experience it firsthand. A simple link is all it takes to access a memorable, 45-minute session designed to inspire, uplift and reconnect people with the heart of giving. It may feel unusual to call a link a “gift”, but in this case, it truly is. Register here: b1g1.com/nowyoucan Behind that link are two extraordinary presenters who have crafted something refreshingly simple yet powerfully moving. Their goal is to spark clarity around purpose, impact and the future of the B1G1 movement. It’s designed for business owners, purpose-led teams and anyone eager to experience giving in a new, energising way. As one presenter described it, “The session takes everything people love about B1G1 and makes it feel brand new again — more accessible, more human and more joy-filled than ever.” This free event will explore the refreshed vision of B1G1 and highlight how everyday actions can meaningfully contribute to the shared journey toward 1,000,000,000 impacts . With real stories, practical insights and a renewed sense of possibility, attendees will walk away feeling inspired and empowered to make an even greater difference. Paul Dunn, B1G1 Co-Founder, encapsulates the spirit of the session perfectly:“What’s been created here isn’t just a presentation — it’s an experience. People tell us they come away feeling uplifted, energised and deeply connected to the idea that small things, done consistently, create extraordinary outcomes.” Whether you're already part of the B1G1 community or discovering it for the first time, this is a rare opportunity to reconnect with what giving really means. Register for free: b1g1.com/nowyoucan Give yourself the gift of 45 minutes on 10 December . Reserve your place now and share the link with someone who deserves to feel inspired too: b1g1.com/nowyoucan . About Collins Hume and B1G1 Like you, we care deeply about a better future — for your family and families worldwide. Access to essentials like clean water, education and food is a cause we all share.   Through our partnership with B1G1, every time you engage with Collins Hume, you’re helping make a meaningful difference on a global scale. Read more »

Our homes are our castles … so the saying goes.  How do we keep living in our castles longer as we grow older? There are many things you need to do to be able to keep living and functioning in your home. Of the many things to do – there are some activities you can do and like to do … there are some activities you don’t like to do or don’t want to do any more … and there are some activities that you can’t do or struggle with and need some help. This is an appropriate starting point for many people … to sit down with a piece of paper and draw three columns on the page with the headings above and put all those activities that are required to live in your castle longer into one of those three columns.  (TIP: Family Aged Care Advocates is happy to help you with this important exercise if you need a hand.) Who helps us if we don’t, won’t or can’t do certain activities any more?  Some of us simply don’t have families or people around us who can help out. Others may have families who live a long way away so can’t help even if they want to. Some have families or people nearby but don’t want to bother them because they’re busy with their own lives. And then there are those who simply don’t want their families or neighbours to be to actively involved in what we do or need … and there are typically good reasons for that. The Government through their home care support programmes have been relied upon to effectively “fill the home activities gap” for a lot of people. But as we now all well know by now, these home care programmes have changed as from 1 November. And let me tell you, the effectiveness of these changes are already being questioned (loudly) by many. This article will not analyse these issues, but let me highlight a couple of things you should know about these changes and how they will affect you: Home care is now focussed on “user pays” and the Government have introduced a co-contribution payment arrangement for home care services that particularly impacts part-pensioners and self-funded retirees – the more you have … the more you will pay Hourly rates for home care services and activities have increased The Government are still not meeting the demand for home care packages and aged care facility rooms … and don’t seem to have an immediate interest or focus on that. Exactly what does that means for you? As an example, home cleaning and lawn maintenance activities have increased in hourly rates from around $60 per hour to $100 per hour. A self-funded retiree will be asked to make a financial contribution to these services that could be as high as $80 per hour. Therefore, it may well be worth considering opting for private services in these areas if possible rather than through a Government home care package.  Family Aged Care Advocates can help you with that. There are also many activities that aren’t offered in your typical home care packages.  Things such as organising important documents, doing your banking, checking your financial statements for scams or fraud, paying bills, talking to financial, business and Government organisations, organising appointments and activities outside the home … and the list goes on. How can Family Aged Care Advocates help you? Family Aged Care Advocates can help you with all of this. We sit with you and put together an agreed programme, then visit you regularly to help you get the things you need to live in your castle for longer done. Give us a call on 0411 264 002 or email shane@faca.com.au  to organise a day and time for a discussion … at your home. Shane Hayes Family Aged Care Advocates

One of the fastest ways to boost profitability isn’t cutting costs. It’s setting the right price from the outset. Yet many businesses still charge rates that don’t fully cover their costs, let alone create the profit margins needed to grow and reinvest. Price too low and margins erode until there’s little left to build the business. Price too high and, without clear value to support it, you risk losing customers. The challenge is striking the balance: a pricing structure that covers real costs, rewards your expertise and fuels long-term growth. Why Smart Pricing Matters The right pricing strategy does more than generate revenue – it underpins the sustainability of your business. When prices are aligned with costs, market position and value delivered, you gain: Healthy margins that protect cash flow and fund growth Confidence in quoting and invoicing, knowing your numbers support profitability Resilience, as pricing stays connected to changing market conditions and rising expenses. Smart pricing creates a foundation for stronger businesses – business owners that weather change, invest in opportunities and continue to grow. From Pricing to Performance Getting your pricing right is only the first step. Without regular review, even the best strategy will eventually fall behind. Costs shift, competitors adjust and productivity fluctuates. That’s why the most successful businesses treat pricing as a living process, not a one-off decision. By reviewing performance regularly through financial check-ins and monitoring key business metrics you can keep pricing aligned with your goals. This ensures your margins remain intact, your growth trajectory is steady and your business stays ahead of the curve. The Leadership Edge For business owners and leaders, pricing isn’t just about numbers – it’s about control. When you know your pricing supports profitability, you gain clarity and confidence in decision-making. You also ensure your business has the financial strength to attract talent, retain customers and seize opportunities.   Smart pricing, backed by regular review, turns uncertainty into strategy. It’s one of the clearest ways to transform your bottom line and shift from merely surviving to thriving. Smart pricing. Stronger margins. Better business. In today’s fast-moving market, businesses can’t afford to underprice their services. Strategic pricing builds stability, resilience and room to grow. Get it right, and you’ll see the difference in stronger margins, better cash flow and the confidence to invest in the future. Contact Nathan McGrath on 02 6686 3000 for an obligation-free discussion on how Collins Hume can help you.

The Australian Taxation Office (ATO) is significantly tightening its approach to late lodgement and payment of Business Activity Statements (BAS). With higher penalties and compounding interest now firmly in focus, it’s essential for businesses to understand the financial consequences of missing BAS deadlines. Penalties for Late Lodgement of BAS If your BAS is not lodged by the due date, the ATO may apply a Failure to Lodge (FTL) penalty . This penalty depends on the size of your business and how long the BAS remains outstanding. Small Entities (annual turnover under $1 million) Penalty:  1 penalty unit per 28-day period (or part thereof) overdue, up to 5 units 2024–25 value:  1 penalty unit = $313 Maximum penalty:   $1,565 Medium Entities (annual turnover $1 million–$20 million) Penalty:  2 penalty units per 28-day period (or part thereof) overdue, up to 10 units Maximum penalty:   $3,130 Large Entities (annual turnover $20 million+) Penalty:  5 penalty units per 28-day period (or part thereof) overdue, up to 25 units Maximum penalty:   $7,825 Interest on Late BAS Payments Businesses that fail to pay BAS liabilities on time will incur the General Interest Charge (GIC) . Calculated daily  on outstanding balances Compounded  until the debt is cleared Rate formula:  10-year Treasury bond rate + 7% Current ATO GIC rate:   11.38% p.a. How to Avoid ATO BAS Penalties Lodge on time:  Even if there’s nothing to report, lodge a nil BAS  to avoid automatic penalties. Communicate early:  If you can’t lodge or pay by the deadline, contact Collins Hume  or the ATO before the due date to arrange a deferral or payment plan. Stay organised:  Use reminders, cloud accounting software or ATO online services to stay on top of deadlines. Why the ATO Is Increasing Enforcement The ATO has stated it is placing a stronger emphasis on BAS compliance. Businesses with a history of late lodgements will face reduced leniency and an increased likelihood that penalties will not  be remitted. Take Action Now To reduce the risk of penalties and interest: Lodge every BAS on time, even nil returns Seek assistance from Collins Hume  if you are falling behind Set automated reminders for due dates If bookkeeping is becoming overwhelming, we can connect you with a reliable bookkeeper to keep your records up to date. For full details, visit the ATO’s guidance on Failure to Lodge on Time Penalty » If you’re concerned about BAS deadlines or want help staying compliant, speak with the Collins Hume team on 02 6686 3000 today.

Why tech adoption matters Running a small or medium business is often a juggling act – staff, customers, compliance, cash flow. For many owners, finding the time to step back and invest in digital transformation feels impossible. But technology adoption isn't just about keeping up with the times. It's a direct pathway to improved efficiency, stronger competitiveness and sustainable growth. The Technology Gap Holding Back Australian Businesses Research from CPA Australia shows a clear divide: only 26% of Australian small and medium enterprises (SMEs) invested in profitable technology last year, compared to 56% across the Asia-Pacific region 1 . While Australian owners are busy staying afloat, our regional counterparts in Singapore, Malaysia, and Vietnam are harnessing digital tools to expand sales, sharpen operations and reach global markets. The consequences are already visible. Just 55% of Australian small businesses expect growth in 2025, well below the regional average of 71% 1 . That gap highlights the risk of delaying technology adoption – while competitors are building resilience, many local businesses remain vulnerable. Why Digital Transformation Matters for SME Business Owners For business owners, the benefits of technology aren't abstract. They're practical, measurable and directly linked to profitability: Improved productivity:  Cloud accounting, AI assistants and automation help reduce admin load, freeing owners and teams to focus on revenue-generating work 2,7 New revenue streams:  With 67% of regional businesses earning over 10% of revenue online versus just 39% in Australia, digital channels remain an untapped opportunity 3 Smarter decision-making:  Tools like digital financial reporting and AI-driven analytics help give real-time clarity on cash flow, customer behaviour and profitability 4 Resilience in tough markets:  Inventory systems, supply-chain platforms and collaboration tools help businesses pivot quickly when conditions change 5 Stronger talent attraction:  Today's workforce expects digital workplaces – falling behind risks losing talent to more modern competitors 6 How to Start Tech Adoption without the Overwhelm You don't need to overhaul your business overnight. Start small, focus on quick wins and scale with confidence: Adopt simple cloud tools:  online booking systems, digital payments and customer relationship apps deliver immediate impact 7 Seek expert advice:  only 18% of Australian SMEs use IT consultants, but the right advice can save costly mistakes 1 Use available incentives:  government rebates and tax deductions often support digital adoption when available 5 Share knowledge with peers:  collaborating through networks or advisors can shorten the learning curve and help spread best practice 6 Technology adoption isn't optional anymore. It's the difference between standing still and building a business that can adapt, grow and thrive in the years ahead. Forward-thinking owners who embrace digital transformation will be the ones driving competitiveness and seizing new opportunities, both locally and globally. Ready to explore what digital adoption could mean for your business? Collins Hume ‘s Strategy360 business advisory team helps business owners cut through the noise, identify the right tools and implement technology strategies that support long-term growth. If you'd like to discuss where to start, we're here to guide you. Contact Nathan McGrath on 02 6686 3000 for an obligation-free discussion on how Collins Hume can help you. Sources CPA Australia, Australian small businesses: Too busy to tech up, too behind to catch up (11 Aug 2025) Deloitte, State of Generative AI in the Enterprise - 2024 year-end Generative AI report Shopify, Australian Retail Report 2024 PwC, 28th Annual Global CEO Survey 2025 OECD, SME and Entrepreneurship Outlook 2023 Microsoft & LinkedIn, 2024 Work Trend Index - AI at Work McKinsey Global Institute, A Microscope on Small Businesses: Spotting Opportunities to Boost Productivity (May 2024)