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 […]
Why more employers are choosing electric vehicles in 2025
The shift to electric vehicles (EVs) in Australia is no longer just about sustainability — it’s also about smart business. With rising fuel prices, environmental targets, and changing expectations from employees, companies are looking for cost-effective ways to modernise their vehicle offerings. One of the most compelling incentives? The Fringe Benefits Tax (FBT) exemption for […]
Is Your Business On the ATO’s Radar? Understanding Benchmarks and Staying Compliant
The ATO has stepped up its efforts to crack down on the shadow economy and detect underreporting of income or inflated deductions. If you’re a small business owner, it’s more important than ever to understand how your figures compare to others in your industry. One of the tools the ATO uses to assess whether your […]
From Spreadsheet to System: Why It’s Time to Break Up with Excel
We get it—spreadsheets are the comfort food of small businesses. They’re familiar, dependable, and always there for you when you need to whip up a quick formula. But while spreadsheets may have helped you get your business off the ground, they might be holding you back from reaching new heights. It’s time to leave the […]