That’s not just an ATO stat, it’s a wake-up call. According to the ATO’s Individuals Not in Business Tax Gap Report, a staggering 78% of tax returns prepared by registered tax agents contain errors. Most of these are unintentional, of course – but they highlight a deeper issue in the industry: Many accountants rely solely…
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Let’s face it, most traditional accounting services are seen by clients as mandatory form-filling exercises. BAS lodgements, compliance reports, tax returns etc, they may be essential, but they’re rarely appreciated. Why? Because clients don’t feel the value. These services are expected, not celebrated. But what if your firm could flip the script? Value-added services create…
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As tax season approaches, many business owners ask the big question; Am I paying more tax than I should? For many, the answer is yes. But here’s the truth: most business owners can reduce the amount of tax they pay. The strategies exist. The legislation supports it. The tools are available. So why doesn’t every…
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In suburban accounting practices across Australia, a startling trend has emerged: around 80% of firms are generating minimal revenue from tax planning and business advisory services. Despite having loyal client bases and years of experience, these practices remain heavily focused on compliance work—BAS, tax returns, and financial statements—leaving significant revenue, profit, and business value untapped.…
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Over the past two decades, accounting technology has transformed every aspect of practice management. Financial statements, budgeting, and tax returns are now automated and streamlined. Now, tax planning is undergoing the same shift – driven by advanced, AI-powered software. From manual to strategic What was once a slow, ad hoc process has become a high-value…
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When it comes to helping clients minimise tax, the difference between tax planning and tax avoidance isn’t just technical—it’s about ethics, intent, and risk. Tax planning: smart, strategic, and compliant Tax planning is the legal and ethical process of organising your clients’ financial affairs to legitimately reduce their tax liability. It’s proactive, strategic, and…
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Eight years ago, we launched with one mission: to empower accountants with smarter tools to deliver real value to their clients. Today, we’re proud to be Australia’s leading AI-powered tax planning and business advisory platform, offering: AI-driven tax planning. Business advisory software. Benchmarking tools. Marketing & sales resources. Practical training & templates. But the true…
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Tax compliance is a legal necessity, but tax planning? That’s where real financial impact happens. Yet, many businesses overlook this powerful tool—leaving thousands of dollars in tax savings on the table. A structured tax planning process helps reduce tax, increase cash flow, and protect assets. Here’s how it works: The 10-step tax planning process Understand…
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If you’re still only offering tax compliance services, you’re leaving serious money on the table. Included in your TaxFitness annual subscription, the self-paced tax planning course shows you exactly how to unlock an extra $30,000+ in fees in your first year—without adding a single new client. Here’s what you get: Proven 10-step process to deliver…
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Most accountants undervalue their expertise by focusing only on compliance. but what if you could double your fees, or even more – without chasing new clients? The answer: tax planning + business advisory + benchmarking. Your clients don’t just need tax returns; they need strategic insights to improve cash flow, profitability, and business performance. They…
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2