Since 2025, the accounting profession has been going through some significant changes, and many small business owners are only
just starting to feel the impact. Updates to the
Tax Agent Services Act (TASA) have lifted the standard around how tax and accounting services are
delivered, with a stronger focus on transparency, professionalism, and client protection.
While this might sound like more red tape on the surface, these changes are ultimately designed to protect you and your business, and
to ensure you receive advice that is clear, ethical, and genuinely in your best interests. Here is what the TASA changes mean in
practical terms, and why they matter.
| The TASA changes are about raising standards across the accounting profession and giving small business owners greater confidence in the advice they receive. With a trusted partner by your side, these changes can support clearer decisions, reduced risk, and a more secure future for your business. |
Falling behind on your BAS lodgements looks like an administrative problem. Left long enough, it becomes an expensive one, because the GST you collected stays payable indefinitely while the GST credits you are owed disappear after four years. Here is what that looks like in dollars.
With negative gearing now quarantined for established dwellings, new house and land has become the sensible play for investors — but there is a trap in the first eighteen months. Interest on the land is denied, while interest on the construction is not. If the bank has written one loan, someone has to do the sums. Here is why it pays to split the loan before you sign.
When the draft legislation for the trust minimum tax was released, it came with a reassurance: if you do not want to restructure, you can simply make an election instead — no restructure, and no state stamp duty. That is accurate, but it is also a very small part of the decision. Here is why you should choose your structure for the eventual sale of your business, not for the announcement.
