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That your business becomes as profitable as it can be (on a cash basis). Profit pays debt, profit drives the business forward and profit gives you the reward for all your hard work.
If you keep your focus on delivering value to your customers, managing your cash flow responsibly, and staying agile, your business can remain resilient—even when external factors feel daunting.
Previously, if you paid late, you could at least offset a portion of the ATO’s interest charges by claiming it as a deductible business expense. That’s going away on 1 July 2025. The ATO’s interest charges will be treated like a penalty or fine—completely non-deductible.
Below is a consolidated, easy-to-read document on budgeting and the mindset behind it—combining practical techniques with an understanding of how our beliefs and habits influence financial success.
Over the years, I’ve owned my fair share of cars — including the shiny, overpriced, and perpetually problematic BMWs. They looked great in the driveway, sure, but they came with a constant stream of high-maintenance costs, electronic failures, and the kind of repair bills that make you question your life choices.
Business Insolvency is when the business cannot pay its debts.