Running a business is busy enough without tax surprises. This guide explains tax compliance for businesses in Australia in plain English, with clear steps, dates, and checklists you can use right away. It also points you to tools and support if you want a partner to keep everything on track.
Business Advisory
Welcome to M2 Corporate’s Business Advisory blog, a curated space where we share expert insights, practical advice, and the latest trends to empower your business decisions. As award-winning business advisors, our goal is to provide you with actionable guidance that enhances your strategic planning and financial management.
Tax Compliance for Businesses in Australia
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What Is Financial Advisory?
Financial advisory helps business owners make better decisions with money. It brings together strategy, numbers, and practical actions so you can plan growth, protect assets, manage cash, meet obligations, and build long-term value. If you are still asking what is financial advisory, think of it as a trusted partnership that turns financial data into clear steps for your business.
What is Business Advisory? A Comprehensive Guide
Business advisory is the practice of guiding business owners to make informed decisions that strengthen performance, reduce risk, and secure long-term growth. Unlike accounting, which looks back at what has already happened, advisory looks forward. It’s about translating numbers, trends, and operational data into strategies that work in the real world.
If you’ve ever wondered what is a business advisor, the role combines financial expertise, strategic thinking, and practical business management. Advisors don’t just report — they partner with you to build, review, and execute plans tailored to your goals.
What Does an Outsourced CFO Do?
An outsourced CFO (Chief Financial Officer) provides the same high-level financial leadership as an in-house CFO—overseeing strategy, forecasting, cashflow, and growth—but without the cost of a full-time executive. They step into your business as a trusted partner, helping you make smart financial decisions, improve performance, and prepare for the future.
Below, we’ve outlined the main responsibilities of an outsourced (or “external” or “virtual”) CFO.
What Is an Outsourced CFO? A Comprehensive Guide
An outsourced CFO is a financial professional who provides strategic financial management services to businesses on a part-time, project-based, or as-needed basis, without the commitment of a full-time hire. For businesses, an external CFO offers tailored solutions such as budgeting, forecasting, cash flow management, and strategic planning, delivering cost-effective expertise to drive growth and ensure financial stability. This guide explores the role, benefits, and practical applications of outsourcing CFO services, helping business owners make informed decisions.
What Is the Small Business Restructure Rollover?
In Australia, the Small Business Restructure Rollover is a tax-deferral concession that lets eligible entities reorganise assets and equity without the immediate impact of capital gains tax.
This guide offers a deep dive into the rollover: how it works, who qualifies, the step-by-step process, accounting and trust structures, plus a detailed worked example. By the end, you’ll understand how to leverage this concession to optimise your structure, protect assets and maintain agility.
Small Business Restructuring in Australia: A Comprehensive Guide
Small business restructuring involves making strategic legal, financial and operational changes to improve your company’s viability, competitiveness and long-term success.
Whether you’re facing cash-flow pressures or proactively planning growth, a clear, structured approach helps you adapt to market shifts, unlock new opportunities and safeguard stakeholder interests.
Financial Reporting Requirements in Australia: A Comprehensive Guide
Understanding the Corporations Act 2001, AASB/IFRS standards and lodgement deadlines is essential for companies operating in Australia. Public entities, large proprietary firms and foreign‑controlled subsidiaries must prepare and lodge annual—and in some cases half‑year—financial reports, while smaller proprietary companies are generally exempt unless directed by ASIC or shareholders. These reports must adhere to stringent accounting and audit requirements overseen by ASIC, AASB and AUASB, with the ATO separately enforcing tax compliance. Non‑compliance can lead to administrative penalties, court‑ordered fines, director disqualification and reputational harm. This guide summarises who must report, the standards to follow, key reporting timelines and the consequences of failing to meet obligations.
What is Financial Reporting?
Financial reporting is the structured process of gathering, analysing and presenting a company’s financial information over a defined period – often quarterly, semi-annually or annually – to provide a clear view of its financial health and operational performance.
Read MoreHow to Make a Family Business Succession Plan
Wondering how to make a family business succession plan that actually works? Start by defining your goals; who will take over, when the transition will happen, and how ownership will be structured. Then, involve your family early, clearly document responsibilities and timelines, and gradually step your chosen successor into leadership.
Once that’s underway, get expert advice. A business advisor can help structure the handover legally and financially, minimising tax and ensuring a smooth transition.
At M2 Corporate, we’ve guided countless family-owned businesses through smooth and successful successions. With decades of experience and industry recognition—including being finalists in the Australian Accounting Awards and winners of multiple Accountants Daily accolades—we bring a depth of knowledge that helps avoid common pitfalls in your succession planning and secure long-term success.