31/05/2026
Five things about Australian tax that most people don't learn until it's too late.
- The first: the tax year ends in June, not December. Australia's financial year runs 1 July to 30 June. If you're new to Australia or running a business here for the first time, everything in the tax calendar looks unusual until you know this.
- The second: paying super late is more expensive than not paying it. The Super Guarantee Charge, applied when super is paid late, is not tax deductible. Late super costs more in real terms than super paid on time, every time.
- The third: you can be audited even if you've done nothing wrong. ATO audits are triggered by data-matching anomalies, statistical outliers, and industry risk profiles, not just suspected fraud. Good records are your protection regardless of how clean your position is.
- The fourth: your accountant can only work with what you give them. The most expensive deductions are the ones your accountant never knew to claim. Keep a running list of business expenses throughout the year, not a June memory exercise.
- The fifth: structuring your business correctly from the start is almost always cheaper than restructuring it later. Sole trader, partnership, company, trust. The differences are significant in terms of tax, liability, and flexibility. Get advice before you register, not two years in.
Save this and share it with anyone new to running a business in Australia.
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