YBM

25/06/2026

What do a snake-catching hoop, hay for therapy chickens, stage makeup, horse yard panels and YouTube props all have in common?

They've all been claimed as legitimate tax deductions by Australian businesses.

While some deductions might sound unusual, the key question isn't whether an expense is common - it's whether it's genuinely connected to earning income.

The examples recently highlighted by tax experts are a great reminder that every industry is different, and what may seem strange in one profession could be a legitimate business expense in another.

Before claiming a deduction, remember the golden rule:
✅ You must have spent the money yourself
✅ The expense must relate to earning your income
✅ You need records to support your claim

Tax time isn't about claiming everything you can think of – it's about claiming what you're entitled to.

Need help navigating what you can and can't claim? The YBM team is here to help.

25/06/2026

The Federal Government has announced significant changes to its proposed Capital Gains Tax (CGT) reforms following strong feedback from the business community.

Key changes include:

✅ Small business CGT concessions expanded from businesses with turnover under $2 million to businesses with turnover under $10 million
✅ Additional carve-outs for startups, founders and early investors
✅ Genuine testamentary trusts excluded from the proposed minimum trust tax measures
✅ Greater certainty around how the rules will be applied, with ministerial powers reduced

The changes are designed to address concerns that the original proposals could discourage investment, innovation and business growth. However, the broader CGT reforms remain under discussion and continue to attract debate across the business sector.

If you're a business owner, investor or startup founder, it's important to stay informed as these measures progress through Parliament.

We will continue to monitor developments and keep you updated as more details become available.

24/06/2026

For many primary producers, managing income can be one of the biggest challenges of farming. That's where the Farm Management Deposits (FMD) Scheme can help.

The FMD Scheme allows eligible primary producers to set aside pre-tax income from profitable years and draw on those funds in leaner years, helping to smooth out the impact of seasonal and market fluctuations.

Benefits can include:
✅ Managing taxable income between good and poor years
✅ Building a financial buffer for droughts and downturns
✅ Improving cashflow management
✅ Supporting long-term business resilience

With EOFY approaching, now is a good time for primary producers to consider whether an FMD strategy could form part of their tax planning and business planning discussions.

Read more in our latest blog written by Alex Wolters, or speak with her or the YBM team to find out whether the FMD Scheme may be suitable for your circumstances.

22/06/2026

✨ Meet the Team – Jayden Pendleton ✨

We're excited to welcome Jayden Pendleton to the YBM Financial Planning team.

Jayden has recently joined us as a Financial Advisor and we're looking forward to introducing him properly over the coming weeks.

Stay tuned to learn more about Jayden and his role at YBM...

19/06/2026

💡 One conversation before 30 June could make a real difference.

As YBM Director Sharon Lord recently shared, tax planning isn't just about reducing tax this year - it's about making informed decisions that support your long-term financial goals

This EOFY in particular, with all the changes happening, it is more important than ever to plan carefully.

With EOFY fast approaching, now is the time to:

✅ Review your business performance
✅ Consider available tax planning opportunities
✅ Assess superannuation strategies
✅ Plan for the year ahead

The best tax outcomes rarely happen by accident. They come from planning, asking the right questions and taking action before 30 June.

Get some more tips from Sharon through the link in the comments.

If you haven't had your EOFY planning conversation yet, there's still time to speak with the YBM team.

17/06/2026

📋 Tax time resources for small business owners

The ATO has released its 2026 Tax Time Toolkit for Small Business, providing practical information and resources to help businesses prepare for tax time.

The toolkit covers a range of topics, including:
✅ Record keeping
✅ Deductions and expenses
✅ Motor vehicle claims
✅ Employer obligations
✅ Income reporting
✅ Tax planning considerations

It's a useful reminder that good record keeping throughout the year can make tax time simpler and help ensure you're claiming everything you're entitled to.

With the ATO increasing its focus on work-related expenses, motor vehicle claims and accurate reporting, now is a good time to review your records before lodging.

Download your Australian Taxation Office Tax Time toolkit through the link in the comments.

Need help navigating tax time? The YBM team is here to help.

Information to help small businesses at tax time and all year round.

16/06/2026

We're growing!

As YBM continues to grow, we're looking for great people to join our team.

Whether you're just starting your career or ready to take the next step, we'd love to hear from you.

Current opportunities include:

✅ Graduate Accountant
✅ Undergraduate Accountant
✅ Senior Accountant / Manager
✅ Financial Planner
✅ Financial Planning Support

We're looking for people who share our commitment to helping clients succeed, supporting regional businesses and being part of an award winning team culture.

If you're looking for a rewarding career with a leading Central West accounting and advisory firm, now could be the perfect time to talk to us.

Interested? Get in touch for a confidential conversation.

15/06/2026

Meet the Team ➡ Patrick Williams - Quietly delivering outstanding results.

Patrick made the move from banking to accounting in the 1990s and has spent decades helping clients navigate tax, financial planning and business decisions with confidence.

Known for his attention to detail and practical approach, Patrick enjoys helping clients achieve the best possible outcomes, whether that's planning for the future, structuring a business or managing tax obligations.

Holding a Bachelor of Business, a Graduate Diploma of Financial Planning and memberships with both Chartered Accountants Australia & New Zealand and the Financial Services Institute of Australasia, Patrick brings a wealth of experience to every client relationship.

Outside the office, you'll often find Patrick swimming, cycling or running, and he's a proud member of the Orange City Rugby Club.

We're proud to have Patrick as part of the YBM team.

12/06/2026

Genuine Pathway to Equity for the right Candidate

12/06/2026

Looking for a Tree Change?

Genuine Pathway to Equity for the right Candidate