22 July 2026
Small Business Financial Consulting Service – July 2026 Newsletter
Welcome to July and the start of a brand new financial year for most small businesses in Queensland. A fun fact that many operators don’t realise is that whilst 1 July to 30 June is the default financial year in Australia, there are a few different dates that businesses can run their financial year. These include the calendar year or aligning with a Business Activity Statement (BAS) quarter. Importantly, to change your financial year-end, you would need to seek advice from a qualified accountant who can support you to apply to the ATO.
The new financial year is a great opportunity to review the past 12 months to see what worked well, what didn’t and where there are opportunities to improve. In addition, it is the right time to be developing and implementing a budget and a plan for the year ahead. Important things to consider are your ATO obligations, your profitability/profit margin, your pricing and expenses. With operating costs continuing to rise across the board, it is important that your pricing reflects your actual costs, as it is very easy to slip into negative territory.
A further timely reminder that from 1 July 2026, employers are now required to pay employee superannuation contributions each payday, instead of quarterly. This is a major legislative reform in Australia, that will have cash flow implications for many businesses. For further information, please see the ATO Website.
Throughout June, you may have noticed the team delivering an increasing number of in-person workshops and online webinars, providing valuable information to support you in running your small business. This is not a one-off and we’ll continue delivering these initiatives monthly. This month, we’re hosting a free webinar series to help small businesses understand their options for managing commercial rent challenges and financial pressure, featuring guest presenter Peter Maddock from the Queensland Small Business Commissioner’s office. Our team will also be hosting two in-person workshops in Yeppoon and Esk for small business owners looking to take the guesswork out of their business finances.
Feeling the pressure of rent costs?
Rising operating costs and cash flow challenges can make it difficult to keep on top of your commercial rental obligations. To help small business owners better understand their options, we are hosting a free webinar series featuring guest presenter Peter Maddock from the Queensland Small Business Commissioner’s office.
These practical webinars will cover:
- understanding your options and responsibilities under a commercial lease
- how to approach conversations about rent and payment arrangements
- support and dispute resolution services available to small businesses.
Whether your business is currently experiencing rent stress or you simply want to be prepared for potential challenges, attendees will leave with practical information, tools and resources to navigate commercial rent challenges.
Sign up for one of these free webinars at a time and day that best suits you:
New financial year, time for a business check-up
Now is the perfect time to be proactive and employ some sound business practices to prepare for the new financial year and for your tax return.
To support you, here are some things to consider when reviewing your business practices.
- How well are you managing your cash flow? Do you have peaks and troughs? Can you identify when these will occur? Can you put plans in place to help smooth these out?
- Do you know your record-keeping obligations and are you meeting these obligations? A good starting point for this is the ATO record keeping evaluation tool.
- Are you making the best use of digital tools that assist in improving efficiencies in your day-to-day operations and record keeping?
- When was the last time you reviewed your business plan?
- Have you considered the impact of the increase in running costs and do you need to increase your prices?
- Is your current marketing strategy effective? Has the market changed and has your business changed with it?
- Are you meeting your employment obligations?
If your small business is experiencing financial difficulties and you would like support to complete a review or better understand business planning, reach out to your local Small Business Financial Counsellor for impartial, confidential and free support.
Take the guesswork out of your business finances
Want to better understand your numbers and improve profitability? Join us for a free practical workshop designed to help you make confident business decisions.
Presented by our ‘Numbers Guy’ Nicholas Hess, this interactive session will help you understand your business performance, identify opportunities for improvement and build your confidence in managing your business’s finances.
Upcoming workshops
Yeppoon
Wednesday 5 August, 5:30pm – 7:30pm
This workshop is delivered in collaboration with The T@ble Capricorn Coast Business Community.
Esk
Wednesday 19 August, 9am – 11am
This workshop is delivered in collaboration with the Somerset Regional Council.
What to expect when you reach out for wellbeing support
Running a small business means carrying a lot, from making big decisions and managing day-to-day challenges to looking after the people who rely on you. Sometimes, the pressure can build up and it’s not always easy to know where to turn for support.
Our Small Business Wellbeing Coaches provide tailored, confidential and free wellbeing coaching to build resilience, confidence and clarity for every day.
This month, we’re answering some frequently asked questions (FAQs) about our service and what you can expect when you reach out.
What is wellbeing support?
Wellbeing support is a chance to talk through what’s happening in your business and life with someone who understands. Our Wellbeing Coaches provide tailored support to help you reduce stress and improve overall wellbeing.
Who is wellbeing coaching for?
Wellbeing coaching is for small business owners who want to improve their overall wellbeing, build positive habits, manage everyday pressures or create a better work-life balance.
What happens in the first session?
Your first session is simply a conversation. Your Wellbeing Coach will take the time to listen, understand your situation and help you identify the next right step.
How many coaching sessions will I need?
The number of sessions will depend on your individual needs, your Wellbeing Coach will work with you to determine the right level of support and help you make the most of your sessions.
If you’re feeling the pressure of running a small business, reaching out for support can be the first step towards feeling more in control. Contact our Small Business Wellbeing Support team today.
Card surcharge rules are changing
From 1 October 2026, business will no longer be able to pass on credit card surcharges to customers for Visa, Mastercard and eftpos payments.
Small businesses will need to consider how they will manage these new costs. Simply, renaming a surcharge as an ‘admin fee’ or ‘service fee’ may constitute misleading conduct under Australian Consumer Law.
One simple habit that pays off all year
The start of a new financial year is the perfect time to review your small business record-keeping practices to ensure you have organised and up-to-date information about your business.
Keeping your records organised doesn’t just make tax time easier. It helps you stay on top of cash flow, make better business decisions and have the information on your financial position in real time.
Up-to-date records also help you meet your ATO obligations, make tax time smoother and ensure you have the information you need when speaking with your accountant, applying for finance or checking in on the health of your business.
If you’re still relying on paper files, now could be a good time to switch to a digital system to make storing, finding and backing up your records much easier.
A little time spent getting organised now can save you a lot of stress later.
Looking for tips? The ATO has a range of practical resources to help you keep your business records on track.
Payday Super is here
From 1 July 2026, employers will need to pay eligible employees’ super at the same time as wages under the new Payday Super requirements.
If your cash flow is already under strain, ensuring you meet the new Payday Super payment requirements may put more pressure on your business. Check in with the Small Business Financial Counselling team for free and confidential support to review your position and future planning.
For more information on Payday Super, visit the ATO’s Payday Super resources.