Compact Accounting

AI is becoming part of everyday business, including accounting.

It can help explain accounting concepts, organise information, prepare better questions and make financial reports easier to understand. But a confident answer is not always a complete answer.

Our latest Resource looks at where AI can genuinely help small business owners with accounting, where extra care is needed, and why context and professional judgment still matter.

Can AI Do Your Accounting? Discover where AI can help with small business accounting, how to check its answers, and when professional judgment and advice still matter.

Thinking about buying your next vehicle through the business?

It can be a sensible option in the right circumstances, but ownership, private use, GST, FBT, finance and cash flow all need to be considered together.

We’ve outlined some of the key questions to work through before signing the contract.

Buying a Vehicle Through Your Business: Key Tax Questions Buying a vehicle through your business? Compare business use, structure, GST, FBT, finance, records and cash flow before signing the contract.

Thinking about changing accountants but unsure what actually happens?

For many people, the idea of moving firms feels more difficult than the process itself.

Our latest Resource explains:

when a change may be worth considering;
when a conversation with your existing accountant may solve the issue;
how the professional handover usually works;
what records and information may be required; and
what to consider when choosing a new adviser.

Changing accountants is not necessarily a criticism of the previous relationship. Sometimes your circumstances have simply changed.

Read the full guide here:

Changing Accountants? What to Expect | Compact Accounting Thinking about changing accountants? Learn when a change may make sense, how the handover works, what records are needed and what to expect from your new accountant.

Thinking about buying an investment property?

The property itself is only one part of the decision.

Before signing a contract, it is worth checking the proposed ownership, total purchase and holding costs, cash flow, taxation consequences, risks and the advice you may need.

Our latest article sets out 7 practical questions to ask before buying an investment property, whether you are considering residential property, commercial premises or a property connected with your business.

Read the article here: https://www.compactaccounting.com.au/questions-before-buying-an-investment-property/

General information only. Obtain advice appropriate to your circumstances before committing to a purchase.

Buying an Investment Property: 7 Questions to Ask | Compact Accounting Thinking of buying an investment property? These seven practical questions can help you assess ownership, cash flow, tax, risk and the advice needed before signing a contract.

Using company money privately?

A company is legally separate from its owners, so money taken for personal use needs to be properly identified, documented and treated.

Our latest Resource explains common Division 7A issues involving director loans, private expenses, shareholder benefits and trust arrangements, together with practical habits that can help prevent larger problems.

Read the full article:

https://www.compactaccounting.com.au/using-company-money-privately-division-7a/

Using Company Money Privately? Division 7A Explained Using company money privately can trigger Division 7A. Learn how director loans, personal expenses, shareholder benefits and complying loans are treated.

Why is your accountant asking for your driver’s licence?

If you’ve recently been asked to provide identification, you’re certainly not alone.

We’ve created a practical guide explaining why these requirements exist, when they apply and what they mean for you.

If you’ve been wondering why your accountant suddenly needs identification, this article should answer many of your questions.

👇 Read the full guide:

https://www.compactaccounting.com.au/why-is-my-accountant-asking-for-my-driver-licence/

New Resource

Australia's Payday Super changes are now underway, and many employers have completed their first payroll cycle under the new requirements.

We've published a practical checklist highlighting five areas employers may wish to review following the introduction of Payday Super.

If you're a business owner or employer, we hope you find it helpful.

🔗 Read the full article:

Payday Super – A Practical Checklist for Employers - Compact Accounting Helping employers navigate Australia’s Payday Super changes with practical, easy-to-understand guidance. Payday Super – A Practical Checklist for Employers It’s now been a couple of weeks since Australia’s Payday Super changes commenced. Many employers will now have completed at least one pa...

Compact Accounting's Next Chapter
Today marks an exciting milestone with the launch of the new Compact Accounting website and refreshed online presence.
After many years helping clients with their tax and business affairs, I'm excited to continue building a practice focused on clear advice, practical solutions and long-term relationships.
Whether you're an individual, investor, business owner or trustee of a self-managed super fund, Compact Accounting is here to help you navigate an increasingly complex financial world with confidence.
If you haven't visited the new website yet, I'd love you to have a look.
🌐 www.compactaccounting.com.au
Thank you to everyone who has supported the practice over the years. I genuinely appreciate your encouragement and look forward to what comes next.