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You will see advertising to business that says you can get a business loan without financial documentation. These "low doc" or "no doc" loans may use recent bank statements and other easily available information to quickly process the application. But getting a loan with full financials (including financials for the current year) is generally better than a low doc loan because it often offers lower interest rates , higher borrowing capacity and better loan terms. While low doc loans provide speed and flexibility for business they are considered higher risk by lenders reflected in higher fees and borrowing capacity.
If your books are reconciled and clean then your tax accountant can review them BEFORE 30 June and then tailor a response to give you the best tax outcome. By May, a business will have a fair idea what their profit or loss will look like by 30 June. There are quite a few tax strategies your tax accountant can advise on with some of them requiring action before 30 June. For example any additional Superannuation that is paid needs to be received by the Superannuation fund before 30 June. If we can help get your financials in order to give your Tax Accountant greater clarity then contact us.
Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or
installed ready for use up to $20,000. As the instant asset write off expires this financial year, if you’re planning to buy business office
equipment, tools or even vehicle upgrades, make sure they’re purchased and installed before the 30 June 2026 deadline.
ATO Link
https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/depreciation-and-capital-expenses-and-allowances/simpler-depreciation-for-small-business/instant-asset-write-off?utm_source=nswgovt_business&utm_medium=email&utm_campaign=2026-04-22_sfmc_1945_april_business_multi&utm_content=01_instand_asset_write_off_aa&utm_term=instant_asset_write_off_link&j=687710&sfmc_sub=233373404&l=88_HTML&u=70765489&mid=524007053&jb=28006#ato-Eligibility
Up until now Superannuation for employees for most small business could be paid quarterly. The new law introducing Payday Super comes into effect on 1 July 2026. It means Superannuation needs to be paid when payroll is processed. So for a small business with a weekly pay this means 52 payments of Superannuation compared to just four quarterly payments This may create Cashflow Challenges and processes will need to be amended to ensure that the payment is processed easily. If the payment does not go through in time there may be penalties. For a simple overview here is an ATO video link https://tv.ato.gov.au/media/c-bd9wqof/bi9or7or3x5bw8
Superannuation at 12% is calculated on some, but not all Salaries and Wages. What is included is being expanded on 1 July 2026. Currently the payroll items that are included in the calculation of Superannuation are called "Ordinary Times Earnings". The new definition after 1 July 2026 is called "Qualifying Earnings" and includes "Ordinary Times Earnings" plus some additional payroll items (previously excluded) particularly around certain commissions and Salary Sacrifice earnings. The ATO have supplied a table comparing the two definitions showing the difference on their website https://www.ato.gov.au/businesses-and-organisations/super-for-employers/payday-super/payday-super-resources/explaining-qualifying-earnings#ato-Whatarequalifyingearnings
Superannuation - Claiming the Tax Deduction
An employer , if intending to claim a tax deduction for Super payments , be aware that these payments are considered to be paid (and
therefore tax deductible in the current year) once they have been processed and received by the employee's Super funds An employer meets its Superannuation Guarantee obligations when the Super is paid by 28 July 2025.
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