ASIC Changes moving forward
From 1 July 2025, VI Partners will be updating how we handle invoicing for changes made to your company records with ASIC (the Australian Securities and Investments Commission). Currently, some of these changes—such as director updates, share changes, or address amendments—may be bundled with your company’s Annual Review if they occur around the same time. […]
GIC & SIC no longer deductible from 1 July 2025: What it means for you
A major tax change is coming from 1 July 2025 that will impact individuals and businesses with tax debts. From this date, General Interest Charges (GIC) and Shortfall Interest Charges (SIC) applied by the ATO will no longer be tax deductible. What are GIC and SIC? The General Interest Charge (GIC) is applied daily on […]
Payday super: what could it mean for your small business?
Back in 2023, the Australian Government announced that from 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages. ‘Payday super’ will move payment of super from the quarterly cycle that businesses are used to, and switch it to a process where employees’ super […]
Our Tax Agent Rules are changing from 1 July 2025: Here’s how they affect you
From 1 July 2025, new professional standards will come into effect under the Tax Agent Services Act (TASA). These updates have been introduced by the Tax Practitioners Board (TPB) to promote even greater clarity and consistency across the tax profession. At VI Partners, we already hold ourselves to a high professional standard — these changes […]
What’s in your Will? Why EOFY is a great time to check your Estate Planning
As the financial year draws to a close, many people focus on tax returns and ticking off compliance tasks. But this is also an ideal time to pause and consider a different kind of planning — your estate plan. Surprisingly, around 70% of Australians don’t have a legally valid Will, or haven’t put proper instructions […]
EOFY is the perfect time to review your business structure – Here’s why
As the financial year draws to a close, many business owners focus on tax returns, deductions, and compliance. But there’s something just as important that often gets overlooked: 👉 Is your business structure still right for where you are now — and where you’re heading? End of Financial Year (EOFY) is the ideal time to […]
Trump’s tariffs: what they mean if you export to the USA
If you’re a small business that exports to the USA, these tariffs are more than just a political talking point – they’re a very real and tangible change to your export costs. So, what can you do to minimise the impact of these tariffs on your bottom line? Why is President Trump introducing these trade […]
Why Discretionary Trusts must prepare a Distribution Minute before 30 June 2025
If you operate a discretionary trust, it’s essential that a valid Trust Distribution Minute is prepared and signed on or before 30 June 2025. This isn’t just an administrative task — it’s a critical legal requirement with serious tax consequences if overlooked. What Is a Trust Distribution Minute? A Trust Distribution Minute is a formal […]
Meet JAX: Xero’s new AI assistant for small businesses
Xero has officially launched JAX (Just Ask Xero) — a new AI-powered assistant designed to help small businesses and their advisors find answers faster and navigate the Xero platform more confidently. Whether you’re checking up on overdue invoices, trying to understand your cash flow, or looking for help using certain features in Xero, JAX is […]
Why accurate ASIC records matter more than ever
Ensuring the accuracy and consistency of your personal details in the Australian Securities and Investments Commission (ASIC) records is not just a matter of compliance — it’s essential for the smooth operation and credibility of your company. Discrepancies in information such as your name, residential and business addresses, place of birth, and date of birth […]