Running a small business in Australia comes with plenty of rewards, but also its fair share of financial responsibilities—especially when it comes to tax time. As we step into 2025, the tax landscape is becoming more complex, with stricter compliance, digital reporting, and shifting regulations.
Whether you’re a sole trader, a start-up, or a growing SME, understanding your tax obligations is crucial. With insights from experienced business tax accountants in Perth, here are the top tax tips every small business owner should follow in 2025.
- Keep Accurate and Real-Time Financial Records
Maintaining accurate records is the foundation of tax compliance. With cloud accounting software becoming more accessible, small business owners are encouraged to track income, expenses, GST, and payroll in real-time.
A business accountant in Perth can assist in setting up automated systems that reduce manual errors and make quarterly BAS and EOFY reporting far less stressful.
- Understand What You Can Claim
Tax deductions can significantly reduce your taxable income, but many business owners still miss out due to a lack of understanding. Common deductible expenses include:
- Office supplies
- Business-related travel
- Advertising and marketing
- Work-from-home costs
- Equipment depreciation
Engaging a small business tax accountant in Perth ensures you don’t leave money on the table and remain compliant with ATO rules.
- Plan for Superannuation Obligations
From 1 July 2025, the superannuation guarantee rate will increase again. Employers must stay updated and ensure super contributions are paid on time. Late payments are not tax deductible and may incur penalties.
A Perth business accountant can help automate super payments and ensure compliance with all ATO deadlines.
- Leverage Temporary Full Expensing (While It Lasts)
The government’s instant asset write-off scheme is expected to phase out by mid-2025. If you’re planning to invest in equipment or machinery, now is the time. Eligible businesses can immediately deduct the full cost of new and second-hand assets.
Talk to your business tax accountant in Perth to maximise your benefit before these incentives expire.
- Separate Business and Personal Finances
One of the most common mistakes made by small business owners is mixing personal and business finances. Open a dedicated business bank account and use separate credit cards to simplify accounting, reduce audit risk, and make reporting more transparent.
Your small business tax accountant in Perth can assist with setting up structured financial systems from the start.
- Review Your Business Structure
The right business structure (sole trader, partnership, company, or trust) can significantly affect your tax obligations and liability. If your business has grown in recent years, it may be time to restructure for better tax efficiency.
A qualified business accountant in Perth can review your operations and recommend the most suitable structure.
- Understand Payroll Tax Thresholds and Fringe Benefits
WA businesses must keep a close eye on payroll tax thresholds and fringe benefit obligations. Even if you only employ a small team, exceeding the threshold can bring additional tax responsibilities.
Getting advice from a business tax accountant Perth ensures accurate reporting and avoids unnecessary penalties.
- Lodge and Pay On Time to Avoid ATO Penalties
Late lodgements and payments can attract hefty fines and interest charges. Whether it’s your quarterly BAS, PAYG withholding, or annual income tax, make sure you stay on top of all due dates.
A small business accountant in Perth will help you manage your lodgement calendar and notify you of any updates.
- Embrace Digital Tools and ATO Integrations
The ATO continues to move towards digital integration and e-invoicing in 2025. Businesses that invest in compliant software solutions can expect faster processing times and fewer compliance issues.
A reliable Perth business accountant will guide you through selecting software that integrates directly with ATO systems.
- Get Regular Tax Advice, Not Just at EOFY
Too many business owners only consult an accountant during tax season. In reality, year-round advice can help you manage cash flow, prepare for audits, and take advantage of changing tax laws.
Partnering with a proactive business tax accountant in Perth gives you peace of mind and helps your business grow sustainably.
Frequently Asked Questions (FAQs)
Q1: What does a business tax accountant in Perth do?
A business tax accountant handles tax planning, lodgement, compliance, BAS reporting, and strategic advice tailored to your business operations in Perth.
Q2: Is hiring a tax accountant necessary for small businesses?
While it’s not mandatory, hiring a small business tax accountant in Perth helps ensure accurate tax returns, maximises deductions, and reduces the risk of ATO penalties.
Q3: What tax changes should I watch for in 2025?
Expect changes in superannuation rates, temporary full expensing eligibility, and growing emphasis on digital lodgements and e-invoicing.
Q4: Can I claim a home office as a business expense?
Yes, if you’re working from home for business purposes, you may be able to claim a percentage of electricity, internet, and rent. A business accountant in Perth can calculate accurate claims.
Q5: When should I restructure my business?
If your income, risk profile, or employee numbers have grown, a restructure may help you save on tax and limit liability. Consult a tax accountant before making changes.
Final Thoughts
Navigating the tax landscape in 2025 requires more than basic bookkeeping. It demands proactive planning, accurate reporting, and a strategic approach to compliance. With the help of an experienced business tax accountant in Perth, you can not only meet your obligations but also unlock new financial opportunities for your business.
