Show Notes
Welcome back to The CEO Breakdown.
In this episode, John Saade breaks down another big week for Australian business owners, taxpayers and investors.
Trump has increased tariffs on Australian exports from 10% to 12.5%, petrol is heading back over $2 a litre, markets are pricing in another rate rise, and a 25 year old international student has been charged over an alleged $5 million GST refund scam involving luxury watches.
John also reacts to viral videos about the ATO, tax frustration, Australia’s cost of living pressure, PNG NRL players receiving tax free contracts, and Mark Bouris warning that proposed CGT changes could push investment offshore.
But the main segment is the one every business owner should watch.
John builds a full 12 month budget for a small electrical business, showing what a $1.26 million tradie business actually needs to think about, including wages, materials, marketing, hiring, a new van, tax set aside, GST, profit, cash flow and why running your business off the bank balance is dangerous.
He explains why revenue needs to be based on capacity, not hope, why materials and wages can destroy margin, why the owner should be paid a proper market wage, why marketing should be planned instead of random, and why profit does not always mean cash in the bank.
If you run a trade business, service business, family business or small company, this episode is a practical reminder to budget before the pressure arrives, not after the damage is done.
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The CEO Breakdown is a business, tax and economy show by Latitude Accountants, helping Australian business owners understand what is happening and what it means for them.
This content is general information only and does not constitute financial, legal or tax advice. Please speak with a qualified adviser about your own circumstances.
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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.