AML/CTF changes from 1 July 2026
What Blackburn Prior clients need to know: From 1 July 2026, Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws apply to more professional service providers, including accounting firms. That means Blackburn Prior is legally required to complete certain identification and verification checks before providing some services. These obligations are overseen by AUSTRAC, Australia’s financial intelligence agency and AML/CTF regulator. […]
Why Family Business Owners Get Tax Problems (And People With Jobs Don’t)
How To Avoid Tax Surprises For many family business owners, tax surprises can feel like an inevitable part of running a business. But the truth is, they’re avoidable—if you take the right approach. Understanding how to manage your income and taxes effectively can save you from scrambling for cash when it’s time to settle up […]
The Biggest Tax Trap For 2025
The Biggest Tax Trap For 2025: Lessons From The Instant Asset Write-Off During COVID-19, the government introduced the 100% Instant Asset Write-Off to stimulate the economy. The idea seemed straightforward and beneficial—allow businesses to immediately claim the full cost of assets like vehicles, machinery, and equipment, no matter the size of the purchase. Many business […]
Keeping Your Life Real
How To Avoid Tax Shocks: Managing Personal Expenses Through Your Business Running your own business is hard work. You deserve a reward for the long hours, late nights, and risks you take. But when it comes to finances, the Tax Office doesn’t share your sentiment. Personal expenses paid from your business account can lead to […]