Show Notes
Welcome back to The CEO Breakdown with John Saade.
This week, the warning signs across business, tax and property are all pointing in the same direction.
Sydney house prices are falling, sellers are cutting asking prices, and for the first time in a long time, many Australians seem comfortable with property prices coming down.
At the same time, the ATO is owed close to $50 billion, largely by small business, and more than 14,000 companies entered external administration last financial year.
John breaks down what this means for property investors, small business owners and anyone trying to understand where the Australian economy is heading.
In this episode, John reacts to property affordability data, falling Sydney house prices, public sentiment around house price declines, the ATO small business debt problem, rising insolvency numbers, and why construction, hospitality and retail are being hit so hard.
He also looks at real business examples, including the Australian company behind Prime drinks entering administration and activewear brand STAX entering liquidation.
The lesson is simple.
Revenue is not the same as profit. Brand awareness is not the same as a strong balance sheet. And growth means nothing if you do not have the cash to survive it.
John also explains why business owners need to understand their margins, manage debt, collect cash, deal with ATO issues early, and stop blaming the economy for every problem inside the business.
This episode is for business owners, property investors, accountants, tradies, retailers, hospitality operators and anyone trying to navigate the current economic pressure in Australia.
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Disclaimer: This video is for educational and entertainment purposes only and does not constitute accounting, financial, legal, tax, lending, insolvency or property advice. The views expressed are personal opinions and should not be taken as professional advice. Always speak to your accountant, lawyer, financial adviser, broker or other relevant professional before making financial or business decisions.
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Running your business through a company can be a great structure, but using that company incorrectly can create tax problems you never expected.In this video, Jacob Fahmy breaks down five of the biggest tax mistakes he sees company owners make, including treating company money like personal money, paying super late, buying vehicles through the company without considering FBT, ignoring ATO lodgements and leaving tax planning until after the financial year has ended.Jacob explains how Division 7A can apply when company money is taken personally, why unpaid super can create additional costs and director consequences, and why putting a car through the company does not automatically make it a good tax strategy.He also explains why lodging your BAS on time matters even when the company cannot immediately pay the debt, and why proper tax planning needs to happen before 30 June while there are still decisions available to you.The key takeaway is simple: having a company does not automatically mean you have a good tax structure. You still need to understand how money comes out of the company, when your obligations are due and the tax consequences of the decisions you make.Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, tax, accounting, legal, property or business advice. Speak with a qualified adviser about your own circumstances.#CompanyTax #Division7A #FBT #ATO #BusinessTax #TaxTips #Accountant #LatitudeAccountantsChapters00:00 5 Company Tax Mistakes00:42 Mistake 1: Treating Company Money as Your Own03:02 Mistake 2: Paying Super Late04:52 Mistake 3: Putting Your Car in the Company07:12 Mistake 4: Ignoring ATO Lodgements09:00 Mistake 5: Not Tax Planning10:49 How to Avoid These Tax Problems11:38 What’s Coming Next
Sydney’s property downturn is showing more signs of stress, with auction clearance rates falling sharply, sellers discounting, borrowing capacity tightening and unemployment moving higher.