Succession planning horror stories far outweigh the success stories in Australia—especially in farming and commercial businesses. Why? Because too many owners put it off, avoid tough conversations, or assume a simple handover will work. The reality is, succession is complex, and failing to plan properly leads to financial, legal, and emotional chaos.

From family disputes and tax headaches to leadership gaps and unexpected disruptions, there’s no one-size-fits-all solution. Many businesses also don’t think outside the box—why does succession have to mean a full handover? An employee could step in, partial ownership could be transferred, or a staged buyout could ease the transition.

A great succession plan isn’t built in a day. It takes time, strategy, and professional guidance.

Spending money just to reduce tax can hold your business back from real wealth creation. Instead of focusing solely on deductions, consider how your profits can work for you—whether that’s through paying down debt, contributing to super, or making strategic investments. Profit is what allows you to grow your business and assets, and yes, that means paying some tax. But with smart tax planning, you can strike the right balance between minimising tax and maximising long-term financial growth.

As a business owner, you're constantly making financial decisions—but when was the last time you checked on your super? Unlike employees, no one is automatically contributing for you, and relying solely on your business or farm for retirement is a risk.

When it comes to running a regional business—whether it’s a family farm, trucking company, or small-town operation—the hard work and dedication that goes into it is irreplaceable. But what happens when it’s time to step back or hand over the reins?

By understanding and acting on these changes, you can protect your business while ensuring fair treatment of employees.

The ATO has identified several mistakes it commonly sees in tax returns which are made by people who own rental properties. One of those mistakes is claiming a deduction for repairs of a property when an outright deduction should not have been claimed.

If you have a private company and it has made a loan to a shareholder or an associate of a shareholder, don’t forget your obligations to either repay the loan in full or make a ‘minimum yearly repayment’.

There is the office Christmas party to organise. There are gifts to buy for all the team. There are hampers and other Christmas gifts to give to key clients and suppliers. But wait! My accountant says that some of this might not be tax deductible. Some of it might attract Fringe Benefits Tax (‘FBT’).