Clear Vision Accountancy Group

Why Performance Monitoring Matters in Business

Performance monitoring is more than checking whether targets have been met, it is a powerful tool for understanding how your business is performing and where improvements can be made.

Regularly monitoring key performance indicators (KPIs) provides business owners and managers with clear, measurable insights into what is working and what may need attention. It helps identify issues early, allowing you to take action before small problems become costly ones.

Performance monitoring also creates accountability across the team. When employees understand what is expected and can see how their efforts contribute to broader business goals, it encourages greater focus and engagement.

Most importantly, consistent monitoring supports better decision-making. Rather than relying on assumptions or waiting for end-of-year results, you have current information to guide your strategy, manage resources and respond to opportunities.

What gets measured gets managed and what gets managed has a greater chance of improving.

ATO Debt Recovery Action - Director Penalty Notices and Garnishee Notices

The Australian Taxation Office (ATO) has significantly increased its focus on recovering outstanding tax debts. As a result, Directors are receiving formal recovery action, including Director Penalty Notices (DPNs) and garnishee notices.

For company directors, this is an important reminder that lodging your obligations on time is critical, even if you're unable to pay the amount owing. Delaying the lodgement of BAS, PAYG withholding or Superannuation Guarantee obligations can reduce the options available to resolve the debt and, in some cases, expose directors to personal liability.

The best approach is to address tax issues early. Engaging with your accountant and the ATO before recovery action begins often provides greater flexibility to negotiate payment arrangements and explore other solutions.

If you've received correspondence from the ATO, don't ignore it. Acting promptly can make a significant difference to the outcome and help avoid unnecessary stress and costs.

If you're concerned about your business's tax position or have received an ATO notice, contact us at Clear Vision Accountancy Group 4688 2500. We're here to help you understand your options, work with the ATO where possible, and support you in finding the best path forward.

We drew inspiration for this article from SV Partners

Insolvency Industry News | SV Partners Stay up to date with the latest news. Find articles and publications from experts across insolvency, forensic, turnaround management and forensic advice.

One Month into the New Financial Year Let's Refresh What's Changed

The new financial year has brought a number of important legislative and regulatory changes that may affect your business. Below is a summary of the key updates and what they could mean for you.

ASIC has increased a range of business registration and company fees from 1 July 2026.

The new fees include:
• Business name registration or renewal (1 year): $47 (previously $45)
• Business name registration or renewal (3 years): $108 (previously $104)
• Company registration: $636 (previously $611)
• Proprietary company annual review fee: $342 (previously $329)

Payday Super is Now in Effect
One of the biggest changes this financial year is the introduction of Payday Super. From 1 July 2026, employers are required to pay employees' superannuation at the same time as wages, replacing the previous quarterly payment system.

Anti-Money Laundering (AML/CTF) Reforms
Updated Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation commenced on 1 July 2026.

Paid Parental Leave Extended
From 1 July 2026, the Government has increased Paid Parental Leave from 22 weeks to 26 weeks, providing additional support for growing families.

$20,000 Instant Asset Write-Off Made Permanent
Good news for small businesses. The Government has made the $20,000 Instant Asset Write-Off permanent from 1 July 2026. Eligible businesses with an aggregated turnover of less than $10 million can immediately deduct the business portion of eligible depreciating assets costing less than $20,000.

Loss Carry Back Returns Reintroduced
The Government has reintroduced the Loss Carry Back measure from 1 July 2026. Eligible companies that incur a tax loss can offset that loss against taxable profits from the previous two income years, potentially receiving a refund of tax previously paid.

Need Advice?
Legislation continues to evolve, and every business is different. If you're unsure how any of these changes affect you or would like assistance reviewing your obligations, please contact the team at Clear Vision Accountancy Group on 4688 2500.

We drew inspiration for this article from business.gov.au

Fresh Financial Year, Fresh Budget, Better Business

The start of a new financial year is the perfect time to reset, refocus and review your budget. While budgeting might not sound exciting, it is one of the most powerful tools for reducing stress and improving business confidence.

A budget is not about restricting spending or removing all the fun from business. It is about understanding where your money is going and making sure it is working toward your goals. Think of it as a roadmap for the year ahead, helping you make informed decisions instead of relying on guesswork.

The businesses that regularly review their budgets and cash flow are often the ones that feel more in control when unexpected expenses arise. Even small changes to pricing, expenses or spending habits can make a significant difference over the course of a financial year.

The beginning of FY2026 is a great opportunity to revisit your goals, review your profitability and create a realistic plan for growth. And yes, a good budget can absolutely still include coffee, team lunches and celebrating wins along the way.

New financial year. Fresh goals. Better numbers. Let’s make this one count.

If you need assistance creating or refreshing your budget for the new financial year, contact our team today on 4688 2500 we’re always happy to help.

30 June Tomorrow - The end of the 2025/26 Fiscal Year

With only one day left before the end of the financial year, now is the time to make sure you haven’t missed any opportunities or deadlines before 30 June.

A few common EOFY items we recommend checking:

• Super contributions – we hope everyone who was intending to make additional super contributions or salary sacrifice arrangements has already actioned this, as contributions must be received by your super fund before 30 June to count this financial year. The ATO has reminded taxpayers that processing times can vary, so leaving this until the last minute can be risky.
• Work-related expenses – ensure you have receipts and records for any deductions you intend to claim.
• Donations – only donations made to registered deductible gift recipients (DGRs) before 30 June are tax deductible.
• Investment and interest records – download any dividend, interest or crypto/investment statements you may need for tax time.
• Small business owners – review asset purchases, outstanding debtor collections, payroll finalisation and super obligations before year end.

One thing the ATO continues to focus heavily on is substantiation. If you’re claiming it, make sure you can support it with records.

A good reminder from the ATO:
“If you didn’t spend the money yourself, can’t show how it directly relates to earning your income, or don’t have a record to prove it, you can’t claim it.”

If there is anything you are considering before midnight tomorrow, please reach out sooner rather than later so we can help guide you 4688 2500.

References: Australian Taxation Office – Deductions you can claim and super contribution guidance.

Supporting Hope for Our Children - Bags of Hope Program

We recently received an update from Hope for Our Children about the incredible impact their Bags of Hope program is having on vulnerable children and young people in our community, and we wanted to share it with you.

The demand for these Bags of Hope continues to grow significantly. Last year, the organisation received 363 requests from schools, hospitals, child safety services, domestic violence services, and community organisations. This year alone, they have already received 454 requests, highlighting the increasing number of children and young people experiencing crisis and hardship across our region.

Each Bag of Hope provides children with essential items, comfort, and reassurance during some of the most difficult moments in their lives. Recently, two bags were provided to local children fleeing domestic and family violence with their mother. Forced to leave home immediately with very few belongings, the bags provided practical necessities, comfort, and a reminder that their community cares.

While a bag cannot erase trauma, it can restore dignity, provide comfort during crisis, and make a child feel seen and supported.

We would love to support this wonderful organisation and encourage anyone who may be in a position to help to consider donating:
• Monetary donations
• Items for the Bags of Hope
• Your time through volunteering and support

With 30 June approaching, monetary donations are also tax deductible, making this a wonderful opportunity to support a meaningful local cause while also benefiting at tax time.

If you would like to help or learn more about the incredible work Hope for Our Children does, please reach out or visit their website.

Thank you for helping support vulnerable children and families in our community.

https://www.hopeforourchildren.com.au/

May 2026/27 Federal Budget Announcement

The recent Federal Budget announcement included a number of proposed tax and business measures that may impact individuals and businesses over the coming years.

At this stage, it is important to remember that budget announcements are proposals only and are subject to the legislative process. In many cases, the final outcome can differ significantly from the original announcement once legislation is drafted and passed through Parliament.

As always, we will continue to monitor developments closely and review the detail of any measures once they are formally legislated. This allows us to provide accurate advice and ensure any actions taken are appropriate for your individual circumstances.

We encourage clients not to make major financial or tax decisions based solely on budget headlines. Once the legislation is finalised, we will communicate any key changes that may affect you and advise on the best course of action moving forward.