A 12-month plan designed for new business owners who may want some extra guidance around business structure, accounting software setup and training, and more.

We will provide you with guidance and support on what you'll need to do to establish and commence running your new business

We can provide advice on the best business structure for your needs and take care of establishment and registrations

Set up your Xero file so it's optimised for you and give you initial training so you start off in the right way

Preparation of a budget tailored to your business and input into Xero so you can track how you're going

Starter pack

We prepare your BAS returns ready for you to review and pay. We also remind you of when and how much to pay, and even send an alert if you forget! Requires Xero.

Prepare BAS

If you would rather be doing something else, let us do your bookkeeping for you. We love coding and checking and you can relax knowing it's all done right, and on time. Requires Xero.

Bank reconciliation

Input and review of crypto investments per report generated by platform. If not managed/self-managed, please get in touch with our support team for further details.

Crypto

We'll set up your Xero file from scratch, then give you the training you need to use it to its full potential.

Xero setup & training

Input and review of rental activity per agent statement and additional receipts not included in statement e.g. home loan statements, depreciation report. 

If not managed/self-managed, speak to our support team for further details.

Property

Don't know what fringe benefit tax is? Learn about it in our FBT guide.

FBT return (annual)

We set you up with the right Xero subscription and manage your payments.

Xero monthly subscription

We set up your Xero file so it is optimised for you and your business.

Xero setup

An hour of training on how to use Xero to it's full potential.

Xero training

If you would rather be doing something else, let us do your bookkeeping for you. We love coding and checking and you can relax knowing it's all done right, and on time.

Large bank reconciliation

Changing shareholders in your company? Make sure you know the key implications first.

BUSINESS ADVICE  •  18 MAY 2026  •  6 MIN READ

Shareholder changes come with real tax and legal risks. Here's what Australian business owners need to consider before transferring or issuing shares.

What you need to know before changing company shareholders

Bringing in a new partner into your business, rewarding a key employee with a stake, or passing the company down to the next generation are all exciting milestones. It's easy to get caught up in the moment and think that changing who owns the shares is as simple as updating a form. 

However, a change in shareholding is a major business decision with significant financial and legal implications. We've seen clients make a quick change, only to face unexpected tax bills or complications down the line. 

Before making any shareholder changes, it's crucial to understand what's involved. Getting it right from the start protects everyone involved and saves a lot of future headaches. Here's a simple rundown of the key things you need to consider.

Does your company have tax losses from previous years? Normally, you can carry these forward to reduce tax on future profits. However, if your company's ownership changes, you may lose the ability to use those losses. 

In Australia, companies must satisfy either the Continuity of Ownership Test (COT) or the Same Business Test (SBT) to retain access to prior year tax losses. Broadly, this means the same shareholders must hold more than 50% of the voting, dividend and capital rights, or the company must continue to operate the same business after the ownership change. 

If these tests are failed, the company may forfeit the ability to use carried forward tax losses.

Franking credits represent tax your company has already paid on its profits. When dividends are paid, these credits are attached to avoid double taxation and reduce the tax shareholders pay personally. 

If there is a significant change in shareholding or control, the company may fail the franking credit integrity rules, particularly the holding period rule and related payments rule, or trigger anti-avoidance provisions. In some cases, this can limit the ability of new shareholders to benefit from existing franking credits. 

You may think this is not relevant if you do not regularly pay dividends. However, retained profits are often distributed later, including on wind-up of the company. If franking credits cannot be effectively used, shareholders may end up paying tax at their full marginal rate.

Sorting shareholder loan accounts (Division 7A)

Often, shareholders lend money to the company or borrow from it. This is tracked through shareholder loan accounts. 

In Australia, these arrangements are closely monitored under Division 7A rules. If a shareholder owes money to the company and it is forgiven, written off, or not placed on a complying loan agreement, the amount may be treated as an unfranked dividend and become taxable in the shareholder's hands. 

Before any shareholder exits, these balances must be properly reviewed and settled.

All share transactions must be recorded at a realistic price for tax purposes. Even if you're passing shares to a family member, the ATO expects the transaction to reflect market value. 

This is particularly important for Capital Gains Tax (CGT) purposes. Transferring shares below market value can still trigger a CGT event based on the market value of the shares at the time of transfer.

When you reward employees with shares in the company, this often falls under Employee Share Scheme (ESS) rules, which have their own tax treatment. 

If shares are provided at a discount to market value, that discount is generally treated as taxable income for the employee, even if no cash changes hands. There are specific concessions and deferral rules available under ESS legislation, but these schemes must be structured carefully.

While the tax and accounting side is critical, there are a few other things to be aware of when changing shareholders.

Any change in shareholding must be reflected in your company register and reported to ASIC within the required timeframe. 

If you have a shareholder agreement, it is a legally binding document that must be followed. It should outline what happens if a shareholder wants to sell, passes away, or if a dispute arises. If you don't have one, this is a good time to speak with a lawyer. 

If a shareholding change results in a foreign individual or entity acquiring a substantial interest in your company, you may need approval from the Foreign Investment Review Board (FIRB) before the transfer takes place. 

This commonly applies where a foreign person acquires 20% or more of the company, or where multiple foreign persons together hold 40% or more. Different thresholds and additional rules can also apply if your business operates in sensitive sectors such as land, infrastructure, data, energy, or media. 

This is not a tax issue, but a legal approval requirement. Failing to obtain FIRB approval before the transaction can lead to serious penalties and the transaction being unwound. 

While your accountant handles valuation and tax implications, a lawyer should manage the legal paperwork, including share transfer forms, updates to the constitution, and any changes required to existing agreements. 

As you can see, there's a lot to consider. Getting professional advice before making any shareholder changes helps ensure the process is smooth, compliant, and free of costly surprises later.

Beany Resources delivered straight to your inbox.

Important considerations before changing your company shareholders

Business advice

What counts as RESC, what doesn't and how incorrect reporting can affect your employees income, benefits and repayments.

PAYROLL & SUPER  •  18 MAY 2026  •  1 MIN READ

Understand what counts as RESC, what doesn’t, and how incorrect reporting can affect your employees’ income, benefits, and repayments.

What are Reportable Employer Super Contributions (RESC) and are you getting it right?

Reportable Employer Superannuation Contributions (RESC) is a term that shows up in payroll and year-end reporting, but it's not always clear what actually falls into it. The confusion is usually about what should be reported in the first place.  

Not all super contributions are treated the same. Some need to be included as RESC, while others don't. The difference comes down to how the contribution is structured and whether the employee had any influence over it.  

When that line gets blurred, it can affect how an employee's income is assessed for things like HECS repayments or government benefits, even though nothing has changed in their take-home pay.  

That's why it's important to understand what counts as RESC and what doesn't.

A super contribution is generally considered RESC when both of the following apply:  

It is more than the compulsory Super Guarantee: For the 2025-26 financial year, this is 12% of employee's Ordinary Time Earnings (OTE).  

The employee influenced the contribution: This includes situations where the employee has negotiated, requested, or directed how part of their pay is contributed to super.  

The second point is what usually determines whether a contribution is reportable. Two contributions of the same amount can be treated differently depending on how the arrangement was set up. 

In practice, RESC usually comes up in a few specific situations where the employee has some level of control over how their income is directed into super:  

Salary sacrifice arrangements: Where an employee chooses to contribute part of their pre-tax salary into super instead of receiving it as take-home pay.  

Individually negotiated super rates: For example, agreeing to pay a higher super rate, such as 15%, as part of an employee's contract.  

Bonuses directed into super: When an employee requests that a bonus or incentive payment is contributed to super rather than paid in cash. 

In each case, the contribution is not just an employer decision. It is linked to an individual choice or agreement, which is what makes it reportable.  

Not all super contributions need to be reported as RESC, even if they are above the minimum.  

The following are generally not considered reportable:  

Compulsory Super Guarantee (SG): The standard 12% contribution is not reportable. However, this is often incorrectly mapped as RESC in payroll systems, which can lead to reporting errors. 

Contributions under industrial agreements: Payments required by an award or enterprise agreement, where the employee has no individual control, are not reportable.  

After-tax personal contributions: Contributions made from an employee's take-home pay are not employer contributions and do not fall under RESC.  

Company-wide super policies: If you choose to pay a higher super rate across the business, and employees cannot vary or opt out of it, this is typically not reportable.  

The distinction comes back to influence. If the employee does not have a say in the arrangement, it is unlikely to be classified as RESC.  

RESC is not included in an employee's taxable income, which is why it often gets less attention. However, it is included in adjusted income calculations used by the ATO and other government agencies. In effect, it is added back to determine what an employee is considered to have earned.  

Eligibility for Family Tax Benefit and Child Care Subsidy 

From the employee's perspective, this can change their financial position without any change to their take-home pay. They may be assessed as earning more, which can reduce benefits or increase repayment obligations. 

Most issues with RESC come down to how payroll is set up rather than the contributions themselves.  

A common issue is how super categories are configured in payroll software. In some cases, standard SG contributions end up being reported as RESC because of how pay items are created or mapped. This can happen when categories are duplicated, default settings are carried over, or all super contributions are grouped under a single reporting line. 

Another issue is how additional super is treated. Contributions above the standard rate are not all the same, but payroll systems do not always reflect that distinction. For example, a higher super rate applied across the business may be set up the same way as a salary sacrifice arrangement, even though one is employer-driven and the other is employee-directed. In practice, the system ends up treating all additional contributions as reportable, even when they are not. 

These errors can flow through to Single Touch Payroll (STP) reporting and into the employee's income statement. By the time they are picked up, they may already have affected benefit assessments or repayment calculations.

With the move toward payday super from July 2026, super contributions are processed and reported alongside wages rather than being handled quarterly. That removes the delay between payroll, payment, and reporting.  

If something is classified correctly, it flows through straight away. The same errors can repeat every pay cycle, and the impact on employee income reporting builds over time. That's why it's worth reviewing how RESC is being handled now, before reporting becomes more frequent and less forgiving. 

There are a few key obligations to keep in mind when making contributions that fall under RESC:  

Report RESC correctly through STP: This can be done during the payroll process or reflected in the employee's income statement at year end.  

Attribute contributions to the correct financial year: Report the RESC in the year it relates to, even if the payment is processed shortly after.  

Maintain proper documentation: Keep salary sacrifice agreements and any records showing employee influence over the contribution.  

Retain records for at least 5 years: This supports your reporting if reviewed. 

Ensure payroll categories are set up correctly: Incorrect mapping will lead to incorrect reporting, regardless of the crucial contribution.

If you're unsure whether RESC is being reported correctly, it's worth reviewing a few key areas in your payroll setup:  

How super categories are mapped: Check that standard Super Guarantee (SG) is not being classified as RESC and that only the correct contributions are flagged as reportable.  

Salary sacrifice arrangements: Confirm that these are set up and reported separately from ordinary super contributions.  

Any individually negotiated super rates: Identify employees with customised packages and ensure they are treated correctly.  

Company-wide super policies: If you offer a higher rate across the board, make sure it is not incorrectly marked as reportable.  

Year-end reporting outputs: Review income statements to see what is being captured under RESC before it reaches employees and the ATO. 

A quick review now can help avoid issues that are harder to unwind later.

Getting RESC right before it becomes a problem 

RESC is a small part of payroll on the surface, but it carries wider implications than most businesses expect. The challenge is knowing what should and should not be included in the first place. That distinction affects how employee income is assessed beyond tax, which can influence repayments, benefits, and entitlements.  

Taking the time to get that classification right helps avoid issues that often only show up after reporting has already been finalised.

 Reportable Employer Super Contributions (RESC) and why it matters for your employees

Payroll & Super

The key talking points from the 2026/27 Federal budget and what it might mean for you.

Industry  News  •  14 MAY 2026  •  5 MIN READ

A quick summary of the main talking points from the 2026/27 Federal budget and what it might mean for you, your business and your taxes.

What the Federal Budget 2026/27 means for Australian businesses

On 12th May 2026, Treasurer Jim Chalmers handed down the 2026/27 Federal Budget and for Australian small business owners, there is a lot to unpack. From permanent tax relief to big structural changes around discretionary and testamentary trusts, the measures will shape how thousands of businesses plan, invest and grow from 1 July onwards.

We have pulled it all apart so you do not have to.

The $20,000 Instant Asset Write-Off is now permanent

This is a big win for small businesses, with the write-off available for those with a turnover of less than $10 million.

Previously legislated on a year-by-year basis, the permanence provides greater certainty and capacity for businesses to be able to plan their capital spending.

The government estimates this will save small businesses around $32 million per year in compliance costs alone.

Loss Carry-Back is back and it’s powerful

From 1 July 2026, the government is permanently reintroducing the two-year loss carry-back for companies with a turnover of up to $1 billion. This means that if your company makes a tax loss in the 2026/27 financial year, you can offset it against tax you have already paid in the previous two years and receive a cash refund.

Up to 85,000 Australian companies are expected to benefit, with the majority being small businesses.

What to do: If your company has paid tax in the past two years and you are planning significant investment or facing a tough trading period, speak to your accountant about whether this measure will apply to you.

30% minimum tax rate coming to Discretionary and Testamentary Trust Distributions

From 1 July 2028, the government will introduce a minimum 30% tax rate on distributions from Discretionary and Testamentary trusts.

Currently, trust distributions can be spread across beneficiaries and taxed at each individual's marginal rate. Under the new rules, a baseline 30% tax will apply regardless of the recipient's marginal rate, with some exemptions including primary production income, charitable trusts, special disability trusts and complying superannuation funds. This means that taxpayers who are in lower marginal tax brackets will pay more tax.

To support businesses that need to restructure, the government is providing rollover relief for three years from 1 July 2027. However, stamp duty may be payable on these restructures.

What to do: While the rollover window gives you time to assess your structure, we’d recommend booking in a conversation with your accountant sooner rather than later. This is the type of decision that can be useful to make early rather than leaving it until the new rules come into effect.

If you’re a sole trader or have employees, the budget also delivers some relief.

For the 2026/27 financial year, workers can claim an automatic tax deduction of up to $1000 of work-related expenses without needing to keep receipts (although we recommend keeping them in case you end up wanting to claim more)

From the 2027/28 financial year, a new permanent Working Australians Tax Offset (WATO) of up to $250 per year is set to benefit more than 13 million workers (resident employees or sole traders).

Medicare levy thresholds have increased by 2.9%, benefiting lower-income employees. This will be reflected from the 2025/26 tax returns onwards.

From 1 July 2027, the 50% CGT discount for individuals, trusts and partnerships will be replaced by CPI cost base indexation plus a 30% minimum tax rate on real capital gains for assets held for longer than 12 months.

Capital gains on pre-1985 assets arising before 1 July 2027 will remain exempt, while there is no impact to the exemptions for main place of residence.

From 1 July 2027, negative gearing for residential property will be limited to new builds. Properties held before budget night (7.30pm AEST on 12 May 2026) will be exempt, meaning existing investors won’t be impacted by the changes.

Changes to the FBT exemption for electric vehicles

The 100% FBT exemption for electric cars will be replaced with a 25% discount from 1 April 2029.

All electric vehicles with a value less than $75,000 provided before 1 April 2029 will continue to be 100% FBT-exempt, while vehicles (up to the LCT fuel-efficient threshold) valued over $75,000 provided between 1 April 2027 and 1 April 2029 will have the new 25% FBT discount.

From 1 April 2029, all eligible electric cars will have the 25% FBT discount applied.

Updates to the Research and Development tax incentive

From 1 July 2028, changes to R&D offsets are aimed at incentivising core research and development that benefits the broader economy.

Increasing the offset rate for core experimental R&D activities to provide a 48% rebate

Removal of eligibility for expenditure for supporting activities

Greater support to young, fast‑growing firms (operating less than 10 years) by increasing the turnover threshold for the higher, refundable offset to $50 million. Older firms will be eligible for an equivalent, non‑refundable offset.

Increasing the maximum expenditure cap to $200 million

Improving assurance by increasing the minimum expenditure threshold to $50,000. R&D below this must be undertaken with a Research Service Provider or Cooperative Research Centre.

While the permanent instant asset write-off and the return of loss carry-back are meaningful wins for small and medium business owners, changes to discretionary and testamentary trusts and capital gains tax require greater planning and decision-making.

At Beany, we are already across all of it. If any of this has raised questions, get in touch with your Beany accountant. If you’re not yet a client and looking for a new accountant, book a discovery call to find out more about working with us.

Please note that budget measures are only proposals until they have been formally passed into law. This can take months and sometimes even years, depending on planned implementation dates and timeframes.

For all official information from the 2026/27 Federal Budget visit budget.gov.au

 What the 2026/27 Federal Budget means for your business

Industry news

Manage costs, cashflow, and business risk in 2026 amid rising fuel costs and global tensions.

BUSINESS ADVICE  •  30 APRIL 2026  •  4 MIN READ

Rising energy costs and global tensions are increasing pressure on Australian businesses. Here’s what SME owners should watch to manage costs, cashflow, and risk in 2026.

What Australian businesses should watch as energy shocks raise recession risks

Australia entered 2026 under pressure. Higher interest rates, elevated operating costs, and slower growth had already narrowed margins for many businesses.  

Now, a new risk is building. The conflict in the Middle East is pushing oil prices higher, with flow-on effects expected across fuel, transport, and supply chains. For a country as reliant on long-distance logistics as Australia, those cost movements tend to move quickly into day-to-day operations.  

At the same time, there are growing concerns that sustained energy shocks could tip the broader economy toward a slowdown. Now, the focus is less on predicting what happens next, and more on recognising how these shifts begin to affect costs, cashflow, and decision-making.  

The current pressure is being led by energy and fuel costs, with global events feeding directly into business expenses across the country.  

Oil and fuel prices: Tensions in the Middle East have increased the risk of disruption to global oil supply. Even the possibility of constrained supply tends to push prices higher, which flows quickly into petrol, diesel, and transport costs.  

Energy costs across the system: Higher oil prices don't just affect fuel. They influence electricity generation, industrial energy use, and broader input costs, especially in energy-intensive sectors.  

Freight and logistics: As fuel costs rise, transport becomes more expensive. In Australia, where goods often travel long distances, this can significantly affect distribution, delivery, and supplier pricing.  

Flow-on to supplier pricing: Suppliers facing higher transport and production costs may begin adjusting prices, adding surcharges, or revising terms. These changes often appear gradually but can compound quickly across multiple inputs.  

These pressures are pushing operating costs higher, with energy acting as the starting point and flowing through multiple parts of the business.  

Australia's exposure to these pressures is different to many other markets. Distance, transport reliance, and energy use mean cost increases tend to move through the system quickly.  

Fuel is a large part of operating costs for many businesses, whether through direct use, freight, or distribution. When fuel prices rise, the impact is rarely isolated. It flows into deliveries, supplier pricing, and day-to-day operations across multiple sectors.  

There are also broader flow-on effects. Industries like construction, agriculture, and retail are particularly sensitive to changes in transport and input costs. Even small increases can compound across supply chains and affect final pricing.  

At the same time, not all sectors are affected in the same way. Energy producers and exporters may benefit from higher prices, but most SMEs are more exposed to rising costs than to any upside.  

This uneven impact means that while some parts of the economy may strengthen, many businesses are left managing higher costs without a corresponding increase in revenue.  

When energy costs start moving, the effects don't show up immediately in profit figures. Tracking the right areas early can help identify pressure before it builds.  

Margins: Rising fuel, freight, and supplier costs can gradually erode margins. Monitoring gross and operating margins regularly helps identify where profitability is starting to shift.  

Operating costs linked to fuel and transport: Changes in delivery, logistics, or travel costs can be an early indicator of broader cost pressure. These are often the first expenses to move when fuel prices rise.  

Cashflow forecasts: Updating forecasts more frequently can help account for rising costs and potential changes in revenue. This is especially important if pricing decisions or demand begin to shift.  

Supplier pricing trends: Patterns across supplier invoices can reveal broader cost increases. Multiple small adjustments often signal sustained pressure rather than one-off changes.  

Receivables and payment timing: If customers begin taking longer to pay, it can indicate tightening conditions across the market. Monitoring payment cycles helps avoid unexpected cashflow gaps. 

The direction of energy markets will play a key role in how this unfolds. Oil prices, in particular, tend to move quickly on new developments, and any sustained disruption can keep fuel and transport costs elevated for longer.  

For businesses, the timing and duration of these pressures matter as much as the initial increase. Short-term spikes can often be absorbed. Prolonged cost increases are more likely to affect pricing decisions, cashflow, and overall business viability.  

There are also broader flow-on effects to watch. If higher energy costs keep inflation elevated, it may influence interest rate decisions and borrowing costs. That adds another layer of pressure, particularly for businesses already managing tight margins.  

Rather than trying to predict outcomes, the priority is staying close to how these changes are showing up in your own numbers and adjusting early as conditions shift. 

Global events are outside your control. How quickly you see their effect on your business isn't. 

At Beany, our accountants can help business owners turn their financial data into clear insights, so they can respond earlier to these sorts of economic pressures.

Prepare for tighter cashflow due to timing changes when Payday Super starts.

SUPERANNUATION  •  29 APRIL 2026  •  4 MIN READ

Payday Super is coming, but late customer payments could prevent small businesses from meeting its obligations. Discover the cashflow pressures and how to prepare for the new timing of super payments.

Why late payments could break Payday Super for small businesses

Most small businesses support Payday Super, but that doesn't mean it will be easy to manage when it comes into effect in July. Xero found 91% are in favour of the change, yet many are already expecting it to cause cashflow pressure.

The reason lies with how cash actually moves through a business. There's often a timing gap between when work is done, when invoices are sent, and when money arrives. That has always been there, but it hasn't always mattered in the same way it will once Payday Super starts.

With super about to be paid in line with each pay run, that gap becomes harder to absorb. What used to be manageable over a quarter now needs to be covered in real time.

Revenue that doesn't arrive neatly alongside payroll. It moves in delays, part-payments, and late invoices. 84% of businesses in Xero's survey believe late customer payments could stop them from meeting Payday Super obligations, with an average of $15,257 already lost over the last financial year due to late payments.  

That gap between what's been earned and what's actually in the bank is where the strain builds. On paper, the business can look profitable, but in reality, it may not have the cash available when obligations (like payroll and super) fall due.

Xero's survey data outlined how businesses expect to respond when money doesn't arrive in time for compliance obligations.

41% plan to delay paying other business expenses 

31% may use personal savings to meet obligations

31% are expecting to borrow to cover cash shortfalls 

These responses all point to the same underlying issue: cash inflows are not aligning with outgoing obligations.  

When customer payments are late, businesses have to prioritise which payments go out first. Payroll and super are fixed, non-negotiable outgoings. Other costs (suppliers, reinvestment, and owner drawings) are the ones that get adjusted.  

Over time, these adjustments change how long that cash can sustain the business. Delaying payments or using reserves extends coverage in the short term, but it also means the same cash balance is being relied on for longer than planned. With 84% of businesses believing late payments could affect their ability to meet Payday Super obligations, expected inflows cannot always be relied on to replenish that balance on time.  

As a result, the margin available to cover payroll and super becomes tighter, even if revenue has already been earned.

Under the current system, super is typically paid quarterly. That gives businesses more time to absorb delays in incoming cash. With Payday Super, these payments fall at the same time as wages which brings the obligation forward and reduces flexibility.

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