WDF Accounting + Advisory

𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗿𝘀, 𝗵𝗮𝘃𝗲 𝘆𝗼𝘂 𝗰𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝗱 𝘆𝗼𝘂𝗿 𝗽𝗮𝘆𝗿𝗼𝗹𝗹 𝗵𝗲𝗮𝗹𝘁𝗵 𝗰𝗵𝗲𝗰𝗸?

✔ Have you reviewed your employees’ pay rates to ensure they are classified at the correct Award level and being paid the correct rates?
✔ Are you Payday Super compliant, with superannuation being paid at the same time as wages?
✔ Have you kept all relevant employee onboarding and ongoing employment records?
✔ Are you getting the most efficiency from your payroll software and processes?

Now is the ideal time to review your payroll systems and ensure you're meeting your obligations.
Need help? Reach out to the team at WDF Accounting + Advisory to discuss a payroll health check for your business.

𝗧𝗶𝗽𝘀 𝗳𝗼𝗿 𝗰𝗹𝗮𝗶𝗺𝗶𝗻𝗴 𝗵𝗼𝗺𝗲-𝗯𝗮𝘀𝗲𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀 𝘁𝗵𝗶𝘀 𝘁𝗮𝘅 𝘁𝗶𝗺𝗲.

If you run your small business from home, tax time is a good opportunity to make sure you’re claiming the deductions you’re entitled to.

Depending on your circumstances, you may be able to claim the decline in value of depreciating business assets (such as laptops, desks and office furniture) or running expenses associated with operating your business from home. This includes:
• electricity for heating, cooling and lighting
• phone and internet expenses
• office cleaning costs.

𝗪𝗼𝗿𝗸 𝗼𝘂𝘁 𝘆𝗼𝘂𝗿 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀
Many home-based business owners use the fixed rate method to calculate their work-from-home running expenses. This method allows you to claim a set rate per hour worked from home and can simplify record keeping. Keep in mind that some expenses are already covered by the fixed rate and can’t be claimed separately.

If you have a dedicated area in your home that is used as a genuine place of business, you may also be able to claim occupancy expenses. This may include rent, mortgage interest, council rates, land taxes or home insurance. Eligibility depends on your individual circumstances.

Whatever method you use, remember you can only claim the business portion of your expenses, and you’ll need records to support your claims.

𝗞𝗲𝗲𝗽 𝗴𝗼𝗼𝗱 𝗿𝗲𝗰𝗼𝗿𝗱𝘀
Good record keeping throughout the year can make it easier to prepare and lodge your tax return. You need to keep most records for 5 years, so you should store them in a safe place. They should also be written in English or easily converted to English.

𝗖𝗵𝗲𝗰𝗸 𝗶𝗳 𝗖𝗚𝗧 𝗮𝗽𝗽𝗹𝗶𝗲𝘀
It’s important to remember, when running your business from home, you may be liable for capital gains tax (CGT) when selling your home. If eligible, you may be able to reduce your CGT by applying the small business CGT concessions.

If you have any questions about claiming home-based expenses please reach out to us.

🌟2026 Golden Crow Awards 🌟

On Friday evening, Janita Croxton, Gillian Hayward and Katy Day were pleased to join our local business community to celebrate the 40th anniversary of the Wagga Wagga Business Chamber Golden Crow Awards.

It was a wonderful evening recognising and celebrating the achievements of local businesses.

Congratulations to all of this year's finalists and winners! We are proud to be part of such a vibrant and thriving business community.

𝗔𝘃𝗼𝗶𝗱 𝗧𝗵𝗲𝘀𝗲 𝗖𝗼𝗺𝗺𝗼𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗠𝗶𝘀𝘁𝗮𝗸𝗲𝘀 𝗶𝗻 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀
Starting a business can be challenging, especially when it comes to managing your finances and staying on top of your numbers. So, what are the most common accounting mistakes made by business owners? And what can you do to avoid these pitfalls and keep your finances healthy and in good order? Read our Latest Business Blog here to see the top five accounting mistakes to avoid https://www.wdf.com.au/resources/business-blog/common-accounting-mistakes-in-your-business/

𝗜𝘀 𝗬𝗼𝘂𝗿 𝗦𝗶𝗱𝗲 𝗛𝘂𝘀𝘁𝗹𝗲 𝗥𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝗟𝗮𝘂𝗻𝗰𝗵?
Starting a side hustle can be an exciting way to test a new business idea and explore an additional source of income. But before you invest significant time and money, it’s worth asking a few important questions.

𝟭. 𝗜𝘀 𝗧𝗵𝗲𝗿𝗲 𝗮 𝗠𝗮𝗿𝗸𝗲𝘁 𝗳𝗼𝗿 𝗬𝗼𝘂𝗿 𝗜𝗱𝗲𝗮?
Every successful business needs customers. Research your target audience to confirm there’s genuine demand for your product or service. Look beyond feedback from friends and family and focus on evidence such as online searches, competitor activity and customer enquiries.

𝟮. 𝗜𝘀 𝘁𝗵𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗹𝘆 𝗩𝗶𝗮𝗯𝗹𝗲?
Make sure the numbers stack up. Consider your pricing, operating costs, software subscriptions, insurance and tax obligations. Your side hustle should generate enough income to cover expenses and deliver a real profit.

𝟯. 𝗛𝗼𝘄 𝗠𝘂𝗰𝗵 𝗪𝗶𝗹𝗹 𝗜𝘁 𝗖𝗼𝘀𝘁 𝘁𝗼 𝗪𝗶𝗻 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀?
Marketing is essential, but it comes at a cost. Whether you use advertising, social media or content marketing, understand how much time and money you'll need to invest to attract each new customer.

𝟰. 𝗪𝗵𝗮𝘁 𝗜𝘀 𝗮 𝗥𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝗣𝗿𝗼𝗳𝗶𝘁 𝗚𝗼𝗮𝗹?
Set achievable profit targets from the outset. Focus on keeping costs low, recovering your initial investment and reaching clear financial milestones as the business grows.

𝟱. 𝗗𝗼 𝗬𝗼𝘂 𝗛𝗮𝘃𝗲 𝘁𝗵𝗲 𝗧𝗶𝗺𝗲?
Running a side hustle alongside a full-time job can be demanding. Be realistic about how many hours you can commit each week and consider whether the workload is sustainable over the long term.

𝗟𝗲𝘁’𝘀 𝗧𝘂𝗿𝗻 𝗬𝗼𝘂𝗿 𝗦𝗶𝗱𝗲 𝗛𝘂𝘀𝘁𝗹𝗲 𝗶𝗻𝘁𝗼 𝗮 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀
If you’re considering a side project or second business, we can help.
Our team can assess the financial viability of your idea, help you develop a practical business plan, and provide advice on budgeting, cash flow, customer acquisition and profitability.

The ATO regularly publishes focus areas for small businesses. One of the top areas where the ATO regularly sees errors is where a private company shareholder or associate uses business money and assets for personal use or benefit, which can lead to Division 7A issues. Read our latest Business Blog here for more information. https://www.wdf.com.au/resources/business-blog/using-company-money-and-assets-for-personal-use-or-benefit/

𝗝𝗼𝗶𝗻 𝗮 𝗳𝗶𝗿𝗺 𝘁𝗵𝗮𝘁 𝘃𝗮𝗹𝘂𝗲𝘀 𝗽𝗲𝗼𝗽𝗹𝗲, 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹.

At WDF Accounting + Advisory, we’re looking for an experienced 𝗕𝗼𝗼𝗸𝗸𝗲𝗲𝗽𝗲𝗿to become a part of our team. Our bookkeepers work closely with our accountants to provide a great level of support to our clients. We provide on the job training. We have a great team that is always willing to help one another and provide a really positive work environment.

Why Join Us?
At WDF Accounting + Advisory, we know that great people are the key to delivering exceptional service. We don't just offer a job, we offer a career, a team, and a place where your contribution matters. We’re proud of the work we do, and even prouder of the team we do it with.

For more information click here https://au.seek.com/job/93276156?ref=direct-share-cm-ui

For all other enquires or applications (cover letter and resume) send to [email protected]

𝗝𝗼𝗶𝗻 𝗮 𝗳𝗶𝗿𝗺 𝘁𝗵𝗮𝘁 𝘃𝗮𝗹𝘂𝗲𝘀 𝗽𝗲𝗼𝗽𝗹𝗲, 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹.

At WDF Accounting + Advisory, we’re looking for a 𝗦𝗲𝗻𝗶𝗼𝗿 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 to become a part of our team. Our accountants are supported by a strong team of bookkeepers and admin support that help us work efficiently and allow us to provide a greater level of support to our clients.

Why Join Us?
At WDF Accounting + Advisory, we know that great people are the key to delivering exceptional service. We don't just offer a job, we offer a career, a team, and a place where your contribution matters. We’re proud of the work we do, and even prouder of the team we do it with.

For more information click here https://au.seek.com/job/92860023?ref=direct-share-cm-ui

For all other enquires or applications (cover letter and resume) send to [email protected]