If you’re an ACT based startup working on proving your concept, validating your market, or building a prototype, the Innovation Connect (ICON) Grant through the Canberra Innovation Network may be worth serious consideration.

This program is designed specifically for early-stage businesses moving from idea to commercial validation.

What funding is available?

The ICON program provides dollar-for-dollar matched funding between $10,000 and $30,000.

With 50% of the grant funding is paid upfront.  The matched can include project expenditure and/or in-kind founder time.

Eligibility

To be eligible you must:

• Have an ABN
• Be registered and primarily operating in the ACT or surrounding
• Have annual turnover under $2 million

What can the grant funding be used for?

The objectives of the program are to:

• Support innovative, entrepreneurial ideas to a market ready position, including market testing.
• Prove technical or commercial feasibility
• Develop prototypes or functional software
• Support early marketing validation
• Obtain legal, IP or patent advice

You can use the grant funding for the following activities:

• Product development
• Resources and consumables specific to the project activities
• Development of marketing plans and strategies (excluding advertising costs and content)
• Website development or upgrades
• Staff wages and salaries specific to the project activities
• Technical feasibility testing
• Market testing and customer validation exercises

But does not include, general admin costs, major capital expenditure or costs already incurred.

The Application Process

This is not a simple online form submission. It’s a staged process:

Step 1 – Attend a mandatory ICON Introduction Meeting with CBRIN
Step 2 – Submit an Expression of Interest (EOI)
Step 3 – If shortlisted, deliver a 3-minute face to face pitch and Q&A

Want to learn more about the 2026 ACT Innovation Connect (ICON) Grant – Round 2?

Click here to learn more about the ACT Innovation Connect Grant and to book your intro meeting

Applications close 8 October 2026.

📌 Frequently Asked Questions: 

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

Most business owners assume an outsourced CFO’s job is simply to explain financial statements and deliver spreadsheets. But looking strictly in the rearview mirror doesn’t build a resilient business.

When it comes to outsourced CFO strategic decision making, the real value isn’t just explaining past numbers, it’s improving the quality of the commercial decisions that follow.

Case Study: What a True CFO Advisory Session Looks Like

Recently, I spent two hours with two business owners right after finalising their annual financial statements.

The interesting part? We spent about five minutes talking about the past year’s performance.

Why? Because there were no surprises.

Six weeks earlier, through regular cash flow monitoring and financial forecasting, we had already reviewed the figures, discussed the likely outcome, and understood what they meant. Today’s meeting simply confirmed what we already knew.

With the reporting sorted, we moved directly to the high-stakes operational questions that actually impact business growth and risk management.

1. Navigating Key Client Risk & Centralised Procurement

Their largest customer had just completed a supplier review, shifting purchasing from individual business units to a centralised procurement function. The business effectively had to re-apply to remain an approved vendor, with zero guarantees.

Rather than waiting passively for a verdict, we established proactive decision triggers:

• Scenario A: What precise operational changes occur if they are removed from the supplier panel?
• Scenario B: What pivot actions take place if they remain on the panel, but revenue drops below a sustainable threshold?

The result: No panic. No scrambling. The owner responsible for that business unit left the room with a clear, pre-agreed action plan for either outcome.

2. Pivoting Unprofitable Ventures Before Sinking Capital

We then turned to a new business venture they were eager to launch. The financial modeling was clear: in its current form, the venture wasn’t commercially sustainable.

Rather than a simple “go/no-go” verdict, we explored a strategic pivot:

• How could they retain the core strengths and unique expertise of their team…
• …while reframing the offer to solve a problem the market is actively paying for right now?

By the end of the session, the founders had a validated, lower-risk direction to investigate and test before committing major capital.

What Should You Expect From an Outsourced CFO Service?

A traditional accountant tells you where your money went. A strategic outsourced CFO services partner works alongside you to navigate where your business is going next.

Sometimes the most valuable asset in your business isn’t another detailed balance sheet, it’s an experienced sounding board to help you make confident decisions.

📌 Frequently Asked Questions: 

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

One of the most common payroll mistakes businesses make is assuming that if someone is a contractor, there is no obligation to pay superannuation.

Unfortunately, that’s not how Australia’s superannuation laws work.

With Payday Super now active, requiring super to be paid on regular pay days rather than quarterly, now is an ideal time to review your contractor arrangements.  Underreporting or misclassifying a worker means sudden, compounding liabilities on every pay run.

ACN Contractors (Pty Ltd Companies)

Where your contract is with an incorporated business (for example, a Pty Ltd company with an Australian Company Number (ACN)), the company is responsible for meeting any superannuation obligations for its own employees or directors. 

ABN Contractor Super Rules (Sole Traders)

For sole traders, the Australian Taxation Office (ATO) applies rules that are different from employment law.  Just because a person who does some work for you:

• has an Australian Business Number (ABN),
• submits invoices, and
• calls themselves a contractor,

does not automatically absolve you from paying superannuation on their behalf.

In respect of superannuation, the ATO operates under section 12(3) of the Superannuation Guarantee (Administration) Act 1992.  Under section 12(3), a person working under a contract that is wholly or principally for their labour, may be treated as an employee for superannuation purposes, even though they are a contractor and invoice you.

Importantly, the ATO looks at the substance of the working arrangement, not simply what the contract calls the relationship

The ATO generally considers the following questions:

✔️ Is the contractor being engaged mainly for their labour and skills?

✔️ Are they required to perform the work personally?

✔️ Are they being paid for their time and effort rather than simply delivering a completed result?

If the answer to these questions is generally “yes”, there is a strong possibility that superannuation contributions are required.

The Cost of Missing Contractor Superannuation Obligations

If superannuation should have been paid but wasn’t, businesses may become liable for:

• unpaid Superannuation Guarantee contributions;
• the Superannuation Guarantee Charge (SGC);
• interest; and
• additional administrative penalties.

Because these liabilities can accumulate over several years, reviewing contractor arrangements before issues arise can save significant time and money.

A Simple Reminder

Before assuming a contractor is not entitled to super, ask yourself:

• Am I contracting with an individual sole trader (ABN) or a company (ACN)?
• Am I paying primarily for that person’s labour?
• Are they required to perform the work themselves?
• Am I paying for their time and skills rather than simply purchasing a completed result?

If you’re unsure, it’s worth reviewing the arrangement against the ATO’s guidance.  A few minutes spent checking today may prevent an expensive Super Guarantee liability tomorrow.  

This article provides general information only and should not be relied upon as legal or taxation advice.  Businesses should consider obtaining professional advice based on their specific circumstances.

📌 Frequently Asked Questions: 

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

⚠️ The First Payroll You Process Could Be the Most Dangerous Payroll You’ll Run All Year.

Why?

The first payroll of the 2027 financial year is where two significant changes collide.

⚖️ One could expose your business to an underpayment claim.

💰 The other could quietly squeeze your cash flow.

📈 Mistake #1 – Thinking It’s Just a Wage Increase

Every July I hear the same question.

“What’s the wage increase this year?

It’s the wrong question.

The better question is:

“What do I need to change in my payroll?”

The Fair Work Commission’s Annual Wage Review isn’t simply about applying one percentage increase across your workforce.

This year’s decision includes structural adjustments to some award classifications, meaning not every employee’s minimum pay rate changes in the same way.

If you simply apply a blanket increase, you could still end up underpaying employees.

That’s particularly risky if you employ staff under modern awards, pay annual salaries, or rely on above-award rates.

Before processing your first payroll, ask yourself:

✔ Have all employees been correctly classified?

✔ Has your payroll software been updated with the new award rates?

✔ Are casual rates, penalties and allowances correct?

✔ Do your annual salary arrangements still satisfy award obligations?

✔ Are employees paid above award still genuinely above the new minimum requirements?

🚨 Remember…

An honest mistake is still an underpayment.

💸 Mistake #2 – Treating Payday Super as “Someone Else’s Problem”

Most of the discussion around Payday Super has focused on compliance.

I think that’s missing the real issue.

💵 Cash flow

As businesses transition to paying super with every payroll, money that once stayed in your bank account until the quarterly due date will begin leaving much sooner.

For some businesses, that won’t be a problem.

For others, it will expose cash flow weaknesses and raise the question, will you have the cash available every payday to pay it.

🛑 Don’t Treat This Payroll as “Business as Usual”

Before you click Process Payroll, stop and ask yourself:

✔ Are employee classifications correct?

✔ Have the new award rates been applied?

✔ Are casual loadings, penalties and allowances accurate?

✔ Do annual salary arrangements still pass the compliance test?

✔ Have you considered the impact of more frequent super payments on your cash flow?

Payroll isn’t just about paying your employees.

It’s one of the biggest compliance and cash flow risks your business manages.

Get this payroll right and you’ll probably never think about it again.

Get it wrong and you could be dealing with underpayments, back pay, penalties or cash flow pressure for months to come.

That’s why the first payroll you process this financial year could be the most dangerous payroll you’ll run all year.

📌 Frequently Asked Questions: The July 2026 Payroll Collision

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

When people hear discussions about discretionary trusts, proprietary limited companies, shareholder loans, and “bucket companies”, it is easy to assume these corporate structures exist simply to reduce tax.

But that assumption misses the operational reality of running a small business in Australia.

The reality is that choosing the right business structure is primarily a matter of risk management and long-term asset protection.  The businesses navigating these complex legal frameworks are the very backbone of suburban and regional Australia, employing local workers, training apprentices, and keeping our communities moving.

They:

• sponsor the local footy club.
• train apprentices.
• support local suppliers.
• build homes, repair vehicles, service air conditioners, run medical clinics and keep local economies moving.
• are the fabric of suburban and regional Australia.

The:

• electrician with 12 employees.
• mechanic with three apprentices.
• civil contractor who spent 20 years reinvesting profits and now employs 40 people.
• family business that has survived recessions, the pandemic and changing markets.

When public debate focuses solely on changing how business owners are taxed, it ignores the ripple effect on investing, expanding, and hiring.  More often than not, a business structure is established not as a tax loophole, but as a vital shield against commercial risk.

The decisions business owners make about investing, expanding, employing staff and eventually selling their businesses can have consequences that flow through entire communities.

What many people don’t realise is that the structures often being criticised today were not necessarily created for tax reasons.

More often than not, they were created to manage risk.

The following real-world examples and observations help explain why.

Part 1: How Discretionary Trusts and Companies Protect Personal Assets

When someone comes to me asking about the best structure for a new business, my first question is not about tax.

It’s about risk.

Years ago, I spoke with a paramedic who operated a business providing first aid services at school sporting events and rugby carnivals.  He was operating as a sole trader.

I asked him a simple question.

What would happen if someone died at an event where you were providing medical services and the family sued you?

This wasn’t a hypothetical question.  A school student had died at one of my children’s sporting events not long before this conversation.

If the damages exceeded your insurance cover, or the insurer refused the claim, the liability could fall directly on you personally.

This paramedic owned a home with his partner.

A successful claim could have forced the sale of that home.

Imagine having to explain to your partner that the family home was lost because of a business activity they had no involvement in.

That is why structure matters.

A company creates a fence between the business and the owner’s personal assets.

But sometimes the gate in that fence can still be opened.

A trust owning the company adds a lock to the gate by separating ownership from the trading activities of the business.

These structures are often established because of risk management, not tax planning.

Part 2: Director Loans vs Share Capital: Managing Small Business Risk

The same principle applies when founders put money into their businesses.

Most companies start with only a small amount of share capital.

That is not because someone is trying to create a tax advantage.

It is because startups and small businesses are risky.

Once the company is established, founders generally have two ways to provide additional funding:

• Invest more share capital.
• Lend money to the business under a formal loan agreement.

Many founders choose the second option.

Again, the reason is risk.

I have seen businesses where investors promised future funding rounds and then failed to deliver.

The business entered administration.

The founder lost control of their company and watched years of hard work, intellectual property and business assets sold for cents in the dollar (sometimes to competitors).

A secured founder loan can change that outcome.

A founder who is a secured creditor often has significantly more influence over what happens during an administration process and may be able to recover key assets or restart the business.

There is also a practical benefit.

Money lent to a company can generally be repaid more easily than money invested as share capital, which often requires formal capital reduction processes and additional compliance.

Part 3: What is a Bucket Company?  Using Corporate Beneficiaries for Risk Management

The same principle applies when a successful business starts generating profits.

I have a client who has spent 15 years building their business.

Business conditions today are very different to when they started. AI in particular may result in significantly diminished returns in the years ahead. Combined with some fatigue from operating in the same industry for so long, they are now exploring other opportunities.

To pursue those opportunities, they need capital that their existing business has built up over many years and already paid company tax on.

Many people assume the obvious answer is to simply leave the profits in the trading company until they are needed.  But that creates a problem.

The trading company is where the risk lives.

• It deals with customers.
• It signs contracts.
• It employs staff.
• It can be sued.
• It can face disputes.
• It can fail.

If significant cash reserves are left sitting inside that trading company, those funds are exposed to the same risks.

So many business owners choose to move profits that have been set aside for future investment into a separate company that does not trade.

To some people, this type of structure is known as a “bucket company”.  The name sounds like it exists purely for tax purposes.

But in practice, many business owners use these companies for the same reason they use other business structures: risk management.

Think of it as taking cash out of the shop safe and moving it into a bank vault. 

The money is still there.

It still belongs to the business group.

But it is no longer sitting in the highest-risk environment.

Importantly, this money is not tax-free.  The profits have already been taxed, or will be taxed, at company tax rates, which for many small and medium businesses is currently 25%.

The purpose is not simply to accumulate wealth.

The purpose is often to protect capital that has already been earmarked for the next opportunity, whether that is a new location, a new product line, an acquisition or an entirely new business venture.

Many business owners are not trying to avoid tax.  They are trying to protect the capital they have spent years building so they can invest it into future growth opportunities.

Risk came first.  Tax was secondary.

Part 4: Small Business Succession Planning and Retirement in Australia

There is one final issue that rarely gets discussed.  At some point every business owner exits.

Some sell.  Some pass the business to family members.  Some simply close the doors.

But regardless of the path, the business eventually changes hands.

For many owners, that exit is not a windfall.

It is their retirement plan.

Unlike employees who accumulate superannuation throughout their working lives, many business owners spend decades reinvesting profits back into their businesses.

They:

• take risks.
• build teams.
• invest in equipment.
• expand premises.
• create systems, intellectual property and customer relationships.

Over time, the business itself becomes the asset.

The challenge is that a business is only worth what somebody is prepared to pay for it.

And buying a business is not easy.

The buyer is often taking on significant debt, personal risk and years of responsibility.

They are committing capital that could have been invested elsewhere.

They are backing themselves to grow something they did not build.

That requires confidence.

It requires access to capital.

And it requires a belief that the rewards are worth the risk.

That point is important.

Most employees know exactly what they will be paid when they turn up to work tomorrow.

Most business owners do not.

Some businesses succeed.  Many do not.

Some owners spend years building a business only to see it fail.

Others spend decades reinvesting profits back into the business rather than taking those profits home.

The possibility of eventually building a valuable business is one of the rewards for accepting that uncertainty.

Without the prospect of reward, fewer people will be willing to accept the risk in the first place.

And if fewer people are willing to take that risk, fewer businesses get started, fewer businesses get expanded and fewer businesses are available for the next generation to buy.

This becomes particularly relevant as a large number of business owners approach retirement over the coming decade.

Many successful businesses will come onto the market looking for a new owner.

The question is not whether those businesses have value.

The question is whether enough people will be willing to take the risk of buying them. 

Because if enough buyers do not emerge, many of these businesses will not simply continue as they are.

Some will close.

Some will shrink.

Some will be absorbed by larger competitors.

Over time, industries can become increasingly concentrated in the hands of fewer and larger businesses.

That has consequences far beyond the business owner.

Less competition can mean fewer choices for consumers.

It can reduce innovation.

It can make it harder for new entrants to establish themselves.

And it can reduce the opportunities available to employees.

Small and medium businesses are often where future managers, tradespeople and business owners learn their craft.

They are where:

• apprentices receive their first opportunity.
• new ideas are tested.
• local jobs are created.

The next generation of business owners is not simply buying a business.

They are preserving:

• jobs.
• competition.
• opportunities for future workers, future apprentices and future entrepreneurs.

This is why the current debate matters.

The discussion should not only be about how much tax is collected today.

It should also be about whether we are creating an environment where people are willing to take the risks required to start, grow, invest in and eventually buy businesses.

Because when a business owner retires, the question is not whether the business has value.

The question is whether someone is willing to take the risk of owning it.

Part 5: Risk, Reward, and the Future of Business Investment in Australia

Every successful business starts with somebody taking a risk.

They:

• leave a secure job.
• invest their savings.
• work nights and weekends.
• are often paid less than their staff.  And unlike their staff, there is no guarantee they will be paid at all.
• accept years of uncertainty.

And they do all of this knowing there is a very real chance they could fail.

The question is simple.

Why would someone choose that path?

The answer is because they believe the potential reward is worth the risk.

That principle applies whether someone is opening a local plumbing business, building a technology startup or buying an existing business from a retiring owner.

People take risks because they believe they can build something valuable.

But capital, talent and ambition are increasingly mobile.

A skilled founder can build a business in Australia.

They can also build one in the United States.  Or Singapore.  Or the United Kingdom.

Investors can deploy capital almost anywhere in the world.

The question therefore becomes broader than tax.

What makes Australia an attractive place to take those risks?

What makes:

• someone choose to build a business here rather than somewhere else?
• a young entrepreneur decide that years of uncertainty are worth it?
• What makes an investor back a startup instead of putting money into property, shares or overseas opportunities?

These are important questions because every successful business started with somebody taking a chance.

The jobs created later only exist because somebody accepted the risk at the beginning.

The:

• apprentices hired in five years.
• managers promoted in ten years.
• business eventually sold to the next generation.

All of that starts with one person deciding the reward is worth pursuing.

If we want strong local businesses, strong communities and strong employment opportunities, we need people willing to take those risks.

And that means understanding that risk and reward are not opposing concepts.

They are partners.

Without risk there is no growth.

Without reward there is little reason to take the risk.

Conclusion: What Is Really Being Debated?

When people hear discussions about trusts, companies, shareholder loans and bucket companies, it is easy to view them as tax structures.

But as these examples demonstrate, they are often something else entirely.

The company and trust protected a family.

The founder loan protected years of work and investment.

The bucket company protected capital earmarked for future growth.

The business sale represented the reward for decades of risk and reinvestment.

And every new business begins with somebody deciding that the potential reward is worth the risk.

That is why this debate matters.

Because it is not only about tax.

It is about risk.

It is about investment.

It is about entrepreneurship.

It is about whether people are willing to build businesses, employ staff, reinvest profits and eventually pass those businesses to the next generation.

The businesses discussed throughout this article are not abstract tax structures.

They are the businesses that employ local workers.

Train apprentices.

Support suppliers.

Sponsor sporting clubs.

And help keep communities strong.

Every one of them exists because somebody was willing to take a risk.

The real question is not how we tax success after it happens.

The real question is whether enough people will still be willing to take the risk of creating that success in the first place.

Frequently Asked Questions: TiE Women Global Pitch Competition 2026

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

Applications are open for the TiE Women Global Pitch Competition 2026, offering women-led startups a massive launchpad to scale globally.

Managed nationally by the TiE Melbourne chapter, this program gives female entrepreneurs across all Australian states access to world-class mentoring, exclusive investor networks, and global media exposure. Finalists will compete for local investment opportunities before heading overseas to vie for more than US$100,000 in equity-free global prizes, including a US$50,000 equity-free grand prize for the overall winner.

TiE Women 2026: Key Benefits for Australian Startups

What do successful applicants get?  The value of the TiE ecosystem stretches far beyond the final prize money:

• Local Investment Potential: Standout Australian finalists pitch live to regional investors, with up to $50,000 AUD in TiE Angels investment available on the night.
• Exclusive Investor Masterclasses: All accepted Australian applicants gain direct access to three intensive online masterclasses covering Go-To-Market strategy, growth financials, and global storytelling.
• Global Equity-Free Funding: A US$50,000 cash prize for the global winner to inject directly into business growth, plus international flight support (up to $1,500 AUD) for the regional winner to compete overseas.
• Global Mentorship & Pitch Coaching: Direct 1:1 access to experienced entrepreneurs, industry titans, and dedicated business coaches to refine your pitch deck before hitting the global stage.
• Investor Matchmaking: High-visibility exposure to both local Australian networks and international venture capitalists (VCs) and angel networks.

Am I Eligible? TiE Women Competition Criteria

To apply for the 2026 cohort, your startup must meet the following eligibility requirements:

1. Female Leadership: Have at least one female founder or co-founder.
2. Equity Stake: Female founder(s) must collectively hold a minimum of 33% equity ownership in the company.
3. Company Age: The business must be less than seven (7) years old at the time of application.
4. Product Stage: The startup must be beyond the “idea stage” and possess a viable product, service, or business model (MVP) in active development or already in the market.
5. Scalability: The company must demonstrate clear ambitions to scale and expand internationally.

Note on Participation: Applying and participating in the initial masterclasses is free. Startups selected to advance to the video pitch screening phase will be required to hold or secure an Associate Membership with TiE Melbourne ($225 AUD/year).

Key Dates & How to Apply

Don’t miss out on funding your growth Apply now.  Application Deadline for Australian applicants: 15 June 2026

Frequently Asked Questions: TiE Women Global Pitch Competition 2026

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

The Fair Work Commission’s (FWC) Annual Wage Review decision takes effect from 1 July 2026. If your business employs staff under a modern award or relies on the National Minimum Wage, now is the critical window to audit your payroll systems and ensure strict compliance.

A common mistake among business owners is assuming that every employee simply receives a flat 4.75% increase. That is not the case for the 2026 financial year. Under the FWC’s latest structural adjustments, some employees on the lowest award classifications will receive a higher, targeted increase than the standard headline rate due to the Stage 1 phase-out of the C13 classification.

Failing to adjust these specific pay scales correctly places businesses at severe risk of involuntary underpayment claims and Fair Work Ombudsman (FWO) penalties.

📋 Your 1 July 2026 Payroll Audit Checklist

To safeguard your business against compliance issues, employers should execute a mini payroll audit before processing the first pay cycle in July. Follow these six essential steps:

Confirm Each Employee’s Modern Award Classification

Do not assume last year’s classifications still apply. Review staff roles to ensure their daily duties still align with their current award definitions. Pay close attention to employees who have:

• Taken on more responsibility
• Aged up (junior rates)
• Completed apprenticeships

Any of these milestones may automatically bump them into a higher pay bracket.

Source Official 2026 FWO Pay Guides

Avoid relying on third-party calculators or outdated blogs. Download the official, updated pay guides directly from the Fair Work Ombudsman (FWO) website as soon as they are published in mid-June. Ensure you are looking specifically at the rates marked effective 1 July 2026.

Run Comparative Pay Rate Audits

Line up your existing employee base hourly rates against the newly mandated minimums.

• National Minimum Wage: Ensure anyone on the base rate is moved to $26.44 per hour ($1,004.90 per week).
• Casual Employees: Remember that casual loading (typically 25%) must be recalculated based on the new, higher base rate.

Review Salaried and Annualised Wage Arrangements

If you pay staff an all-inclusive annual salary, you must perform a reconciliation. Ensure that the annual salary is still high enough to cover the new minimum award rates, including any overtime, weekend penalty rates, or allowances the employee actually worked. If the new award minimum outpaces the salary, you must top it up.

Forecast On-Costs (Superannuation & Leave Liabilities)

A wage increase does not happen in a vacuum. It triggers a cascading financial impact across your entire business overhead. Remember to factor in:

• Superannuation Guarantee (SG): Ensure your cash flow accounts for both the higher gross wage and your super obligations.
• Leave Liabilities: Long service leave and annual leave balances must be revalued on your balance sheet to reflect the new, higher hourly pay rates.
• Payroll Tax and Workers’ Compensation: Higher wages will incrementally bump up your state payroll tax obligations and insurance premiums.

⚖️ Do You Have to Increase Above-Award Pay?

A frequent point of confusion for employers is whether the 2026 wage increase applies to staff members who are already paid above the minimum rate.

The short answer: The Annual Wage Review legally changes the minimum safety net.

If an employee is already paid a flat contract rate that sits safely above the newly revised 2026 minimum award rate (including all applicable allowances and penalties), there may not be a legal requirement to increase their pay.

⚠️ Warning: Do Not Guess the Math

Every employee must be reviewed individually. If an above-award rate is absorbed by the new increase, the buffer you once had shrinks. If that employee works significant overtime or night shifts, their flat rate might suddenly fall below the new legal minimum.

The businesses that find themselves facing costly back-pay orders are rarely malicious; they are usually the ones that assumed the changes didn’t apply to them because they “pay well.” Taking a few hours to meticulously audit your payroll data now is the only way to prevent a systemic underpayment issue later.

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

The headline is simple: “Award wages increase by 4.75% from 1 July 2026”.

But once you look at the detail, it is not that simple.

The Commission has decided to increase the lowest-paid award classifications at a faster rate than the rest of the award system.

As a result, some employees will receive an increase closer to 5.97%, while others receive the headline 4.75%

For example, under the Hospitality Award:

• A Food & Beverage Attendant Grade 1 on $24.95 per hour will increase to $26.44 per hour (5.97% increase).
• But the Food & Beverage Attendant Grade 2 on $25.85 per hour will increase to $27.08 per hour (a 4.75% increase)

Two employees.  Same award.  Different percentage increases.

4 Steps to Ensure Payroll Compliance by 1 July

So, what appears to be a simple annual wage review now requires employers to:

• Review classification levels
• Check updated award rates
• Update payroll systems
• Test for compliance

And that is before considering the inevitable employee conversations when one team member discovers they received a bigger percentage increase than another.

Another day.

Another compliance change.

Another layer of red tape for business owners.

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

The Westpac Female Founder Awards are now open for 2026.  (note applications close 30 June 2026)

Award Categories for 2026

The awards recognise women-led Australian businesses across three categories:

Trailblazer Award

For early-stage businesses (three years or less) that are:

• Disrupting an industry or market
• Introducing innovative products, services, or business models
• Demonstrating early traction and strong growth potential

Thrive Award

For established businesses (over three years) that have:

• Achieved sustained financial performance and growth
• Evolved over time to remain competitive
• Built a strong, enduring market position

Greater Good Award

For businesses and social enterprises whose products or services:

• Drive meaningful social or community impact
• Deliver commercial and measurable outcomes
• Embed impact as a core part of their business model
•  

There is also an overall Female Founder of the Year Award selected from the finalists.

Eligibility Criteria for Australian Founders

To be eligible, businesses must be:

• At least 50% women-owned and women-led
• Australian-based
• Operating with a valid ABN
• Majority or wholly Australian-owned

Prizes and Business Support

The awards include:

• Cash prizes ($10,000 to each category winner and $30,000 to the Founder of the Year)
• Mentoring and coaching
• Media training
• Advertising support (up to $120,000 in value for the Founder of the Year)

How to Apply and Key Dates

Apply for the 2026 Westpac Female Founder Awards

Note Applications close on 30 June 2026.

Frequently Asked Questions: Westpac Female Founder Awards 2026

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052

With the end of the 2026 financial year fast approaching, small business owners must prioritize tax planning right now.  Once 30 June 2026 passes, it is too late to implement legal strategies to minimize your tax liability.

Maximize your deductions and safeguard your cash flow with these 8 essential business tax tips to consider before year-end.

1. Review Your Debtors and Write Off Bad Debts

Don’t pay tax on income you are unlikely to ever collect.  Review your outstanding accounts receivable ledger before 30 June 2026 and formally write off any bad debts that are genuinely unrecoverable.

• Action Step: Ensure the write-off is properly documented in your accounting software before midnight on 30 June.  If you happen to recover the debt down the track, you can simply declare it as income in that future financial year.

2. Review and Value Your Trading Stock

If your business holds inventory, you must conduct a physical stocktake to verify your stock on hand before the end of the financial year.

• Action Step: If any items are obsolete, damaged, expired, or entirely unsaleable, formally write them down or write them off before 30 June.  Remember, if your current selling price is lower than the original cost, you can generally value that stock at the lower selling price (excluding GST).

3. Pay Employee Superannuation Early

Superannuation is only tax-deductible when it is actually received by the employee’s super fund, not when the clearing house batch is generated.

• Action Step: If you want to claim a deduction for the June quarter superannuation in your 2026 tax return, clear the payments early.  Leaving it until the final week of June is highly risky due to bank and clearing house processing times.  Aim to pay by mid-June to be safe.

4. Optimize Director Fees and Staff Bonuses

Intending to reward your team or directors for their hard work this year?  If you commit to staff bonuses or director fees for work already performed, paying them before 30 June 2026 generally allows the business to claim an immediate tax deduction.

• Action Step: If cash flow is tight and you cannot physically pay before year-end, ensure you properly document and approve a legally binding resolution of the entitlement before 30 June.  Depending on your business structure and accounting treatment, this may still secure the deduction.

5. Consider Personal Super Contributions

Business owners and sole traders looking to lower their personal taxable income should consider topping up their concessional superannuation contributions before 30 June 2026.

• Action Step: Review your available caps.  You may also be eligible to utilize unused carry-forward concessional contribution amounts from the past five years.  Always seek professional advice before making lump-sum contributions to ensure you don’t accidentally breach the cap limits.

6. Prepay Deductible Business Expenses

Small businesses with an aggregated turnover under $50 million can access the “12-month rule” to claim an immediate deduction for prepaid expenses.

• Action Step: Look at expenses covering periods of up to 12 months that extend into the next financial year.  Consider prepaying items like rent, commercial insurance premiums, software subscriptions, professional memberships, or loan interest before 30 June 2026 to bring the deduction forward.

7. Leverage the $20,000 Instant Asset Write-Off

For small businesses with an aggregated turnover under $10 million, you can immediately deduct the full cost of eligible business assets costing less than $20,000 per asset. 

• Important Update: The Federal Budget announced that this $20,000 threshold will become a permanent fixture of the tax system from 1 July 2026. 
• Action Step: While the stability is great news for future planning, for this tax year, the asset must still be physically first used or installed ready for use by 30 June 2026.  Eligible assets include tools, computers, office furniture, and work vehicles.  Ensure the purchase makes genuine commercial sense rather than being driven purely by tax motives. 

8. Finalize Trust Distributions Before 30 June

If your business operates through a discretionary trust structure, you do not have a post-June window to sort out your paperwork.  Trustee distribution resolutions must be fully prepared and executed before 30 June 2026.

• Action Step: Failure to properly document trust distributions before midnight on 30 June can result in the trust’s default beneficiaries being taxed, or the trustee being taxed on the undistributed income at the highest marginal tax rate (45%).  This is critical if you intend to distribute to corporate beneficiaries or adult children.

Important Disclaimer:

Effective tax planning must always look at your unique business structure, specific circumstances, and cash flow requirements.  The rules vary significantly between companies, trusts, partnerships, and sole traders.  Always consult with a registered tax agent or accountant before implementing these strategies.

Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. 

Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.

Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably

And Wayne is always posting about new grants, funding options and other resources on LinkedIn that can help your business scale and grow profitably.  Click on the below links and connect with Wayne or follow A Real CFO on LinkedIn.

Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052