My Accounting Advantage

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This episode explores a challenge many growing business owners face: when the workload becomes overwhelming, is hiring really the right solution? Mai and Lee discuss why bringing on new staff without first understanding the root cause of the problem can create even more complexity, and how business owners can take a more strategic approach to growth.

They introduce the concept of the buyback loop, a practical framework for identifying, documenting, and delegating tasks effectively. Through real-world examples, they explain how creating systems and processes can reduce bottlenecks, improve efficiency, and build a business that is less reliant on the owner.

In this episode, they discuss:

• Why hiring is not always the best first response to feeling overwhelmed
• The risks of recruiting for a role when the underlying problem has not been clearly defined
• How to conduct a time audit to identify what is really consuming your week
• Understanding the "buyback loop" and its role in sustainable business growth
• Identifying low-value, repetitive tasks that can be delegated
• The importance of documenting processes, workflows, and clear outcomes
• Why even experienced team members need clear expectations and standards
• How systems and repeatable processes make a business more scalable
• A real-life case study of a medical practice that tripled in size and faced growing operational challenges
• The mindset shift from trying to solve everything yourself to finding the right expertise and support
• How better delegation can help reduce chaos, create capacity, and support long-term growth
• Why process-driven businesses are often easier to manage and more attractive to potential buyers

Whether you're preparing to hire your first team member, struggling to keep up with growth, or looking to create more time to focus on high-value work, this episode provides practical strategies to help you scale your business with confidence.

If you'd like guidance on business growth, improving operational efficiency, implementing systems, or developing a scalable business structure, our team at My Accounting Advantage is here to help.

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Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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This episode explores one of the biggest changes to SMSF property investing in recent years: the 10 August 2026 rule change and what it means for Australians looking to purchase property through their Self-Managed Super Fund.

Mai is joined by SMSF lending specialist Luke Talbot to unpack what has changed, what opportunities still remain, and how SMSF lending works in practice. Together, they discuss why residential property purchases through borrowing have been significantly impacted, why commercial property remains a key strategy for many SMSF investors, and the critical steps required to secure finance successfully.

In this episode, they discuss:

• What the 10 August 2026 rule change means for SMSF property borrowing
• Why new residential property purchases using SMSF borrowing are no longer an option and what alternatives may still be available
• How refinancing existing SMSF property loans may continue to provide opportunities
• Why commercial property and business premises have become the primary focus of many SMSF lending strategies
• What lenders assess when reviewing an SMSF loan application, including the fund, the property, and the structure
• The role of bare trusts in SMSF property purchases
• The true cash requirements beyond the deposit, including stamp duty, legal fees, setup costs, and post-settlement liquidity requirements
• Which specialist lenders currently operate in the SMSF lending market and how their lending criteria differ
• Alternative strategies using personal equity loans to help facilitate SMSF property acquisitions
• How unit trust structures can be used and why lender appetite varies between different arrangements
• Common SMSF lending mistakes, including purchasing before obtaining finance approval, underestimating cash requirements, and failing to allow sufficient time for the process
• Practical insights into SMSF lending timeframes and what investors can do to improve their chances of approval

Whether you're considering purchasing property through your SMSF, refinancing an existing loan, or simply trying to understand how the recent rule changes may affect your retirement strategy, this episode provides valuable guidance to help you navigate a rapidly changing landscape.

If you'd like advice on SMSFs, property investing, SMSF lending, retirement planning, or structuring your investments effectively, our team at My Accounting Advantage is here to help.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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This episode explores a growing area of interest for business owners and investors: buying property through a Self-Managed Super Fund (SMSF) and understanding the borrowing rules that come with it.

Mai and Lee break down the complexities of Limited Recourse Borrowing Arrangements (LRBAs) in plain English, explaining how SMSFs can borrow to purchase property, the structures that must be in place before signing a contract, and the common pitfalls that can derail a property strategy. They also discuss the significant changes to SMSF residential property borrowing from 10 August 2026, what remains available for commercial property, and why proper planning and advice are more important than ever.

In this episode, they discuss:

1. What a Limited Recourse Borrowing Arrangement (LRBA) is and how it works
2. Why SMSF loans often have higher interest rates than traditional home loans
3. The roles of the SMSF, trustee company, and bare trust in a property purchase
4. Key rules that must be followed before signing a property contract
5. The SMSF borrowing changes introduced on 10 August 2026
6. The distinction between residential property and business real property
7. Why many business owners choose to hold commercial premises within their SMSF
8. Mai's PBS Framework: Property, Borrowing, and Strategy
9. Common SMSF property mistakes, including poor sequencing, cash flow issues, and over-concentrating investments

Whether you're considering purchasing commercial property, planning for retirement, or exploring how an SMSF can fit into your long-term wealth strategy, this episode provides practical insights to help you avoid costly mistakes and make more informed decisions.

If you'd like advice on SMSFs, property investment, commercial property ownership, retirement strategies, or SMSF compliance, our team at My Accounting Advantage is here to help.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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This episode breaks down the key tax, superannuation, and business changes following the 2026 Federal Budget. Mai Harris explains what is already law, what is still proposed, and what individuals, investors, trustees, and business owners need to know moving forward.

In this episode, they discuss:

• New superannuation contribution caps and the bring-forward rule
• The transfer balance cap and Division 296 tax
• Payday Super and its impact on employers
• Super Guarantee Charge risks for late payments
• The permanent $20,000 instant asset write-off
• The new $1,000 standard work-related deduction
• Capital gains tax and negative gearing changes
• SMSF borrowing rule updates
• Proposed trust tax reforms and family trust election changes
• The difference between enacted and proposed measures

Whether you're building wealth, running a business, or planning for retirement, this episode provides practical insights to help you navigate the latest tax and superannuation changes with confidence.

If you'd like advice on tax planning, superannuation, business structures, property investment, or trusts, our team at My Accounting Advantage is here to help.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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This episode tackles a common question for Australian homeowners: Does the six-year rule mean you can avoid Capital Gains Tax when you move out and rent your home?

Mai and Lee explain how the six-year rule really works, how it interacts with negative gearing, and the common mistakes that can lead to unexpected tax liabilities. They also discuss recent legislative changes, record-keeping requirements, and why it's important to seek advice before making property decisions.

In this episode, they discuss:

• The basics of the six-year rule and common misconceptions
• Renting out a former PPOR while potentially retaining a CGT exemption
• When interest becomes tax-deductible and how negative gearing works
• The impact of the 12 May 2026 law change on negative gearing decisions
• What happens if you buy another PPOR
• Restarting the six-year clock by moving back in
• Why market valuations and good records are essential
• Common mistakes that can trigger Capital Gains Tax
• Tax considerations for retirees receiving rental income

Whether you're planning to move, rent out your home, or invest in property, this episode provides practical insights to help you make informed decisions and avoid costly surprises.

If you'd like advice on Capital Gains Tax, negative gearing, property structuring, or tax planning, our team at My Accounting Advantage is here to help.

Visit www.myaccountingadvantage.com.au to learn more.

Have a question you'd like Mai to answer on a future episode? Submit it through the Ask Mai link at the top of the show notes.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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This episode tackles a question many ambitious professionals ask themselves: If you're great at your job, does that mean you'll succeed in business?

Mai and Lee explore why many high-performing employees struggle when they start their own businesses. They discuss the mindset shift required to move from employee to business owner, the hidden costs of running a business, and why proper planning is essential before making the leap. 

In this episode, they discuss:

• Why being a star employee doesn't automatically make you a successful business owner
• Mai's SRS Framework: Structure, Risks, and Sequencing
• The hidden costs of employing staff and running a business
• The difference between an employee mindset and a business owner mindset
• The three gaps that commonly derail new business owners: Revenue Gap, Time Gap, and Identity Gap
• Why working capital is critical to business survival
• The danger of counting future deals instead of cash received
• The importance of having a financial safety net before starting a business
• The 90-Day Capital Test and how to assess your readiness for business ownership

Whether you're planning to launch a business or simply exploring the idea, this episode provides practical advice to help you avoid costly mistakes and build a stronger foundation for success.

If you're thinking about starting a business and would like advice on business structures, cash flow planning, risk management, or financial readiness, our team at My Accounting Advantage is here to help.

Visit www.myaccountingadvantage.com.au to learn more.

Have a question you'd like Mai to answer on a future episode? Submit it through the Ask Mai link at the top of the show notes.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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Many business owners focus on the sale price when selling a business or commercial property, but one often-overlooked detail can have a significant impact on the deal: the Going Concern rules.

In this episode, Mai Harris and Lee Woodward explain what a Going Concern arrangement is, when it applies, and why getting it right can save buyers and sellers from unnecessary GST complications. From business sales to commercial property transactions, Mai breaks down the key requirements, common pitfalls, and the questions you should ask before signing a contract.

The discussion also explores vendor finance arrangements, the importance of preserving value in an established business, and why rushing to reinvent a successful operation can sometimes do more harm than good.

In this episode, Mai talks about:

• What a Going Concern arrangement is
• When GST may not apply to a business sale
• The requirements buyers and sellers must meet
• How GST can impact cash flow and deal negotiations
• The pros and cons of vendor finance arrangements
• Why preserving what already works is often a smart business strategy
• How Going Concern rules apply to commercial property sales
• The importance of understanding GST implications before signing a contract

This episode is a practical reminder that selling a business or commercial property is about more than agreeing on a price. Understanding whether a transaction qualifies as a Going Concern can have a major impact on GST, cash flow, and the overall success of the deal.

If you'd like advice on buying or selling a business or commercial property, reach out to our team at www.myaccountingadvantage.com.au. You can also submit questions or topic ideas via the Ask Mai link at the top of the show notes.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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This episode tackles one of the biggest questions business owners face: How do you sell a business and keep more of what you've worked so hard to build?

Mai and Lee are joined by local business owner, Chef Daniel, who steps into the guest seat to ask the questions many business owners are already thinking about. Together, they unpack the tax implications of selling a business, recent changes to Capital Gains Tax (CGT), the importance of planning well before an exit, and why your accountant should be one of your most trusted advisers throughout the process.

In this episode, they talk about:

• What recent Capital Gains Tax changes mean for business owners considering a sale
• The different types of CGT exemptions available to small business owners
• How capital gains are calculated when buying and selling a business
• The Small Business Rollover concession and how it can help when purchasing another business
• The importance of profitability, clean financial records, and consistent performance
• Why emotional attachment can impact business valuation and sale decisions
• How to choose an accountant who aligns with your personal and business goals
• Where AI tools like ChatGPT can assist business owners and where professional advice remains essential
• Why every business should be built with an eventual exit strategy in mind

Whether you're preparing to sell in the next 12 months or simply want to build a business that has long-term value, this episode highlights why planning early can make a significant difference to the outcome.

If you're considering selling your business, reviewing your structure, or would like advice on the small business CGT concessions available to you, our team at www.myaccountingadvantage.com.au is here to help.

Have a question you'd like Mai to answer on a future episode? Submit it through the Ask Mai link at the top of the show notes.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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We unpack what makes a business genuinely saleable, and why waiting until you are fed up is a costly time to exit. We share a practical checklist for sale readiness, from clean financials and contracts to systems, leadership, and transferability that keeps value high when the owner steps away. 
• why a saleable business is the real measure of business health 
• the risk of selling from emotion rather than strategy 
• what “turnkey” looks like and why owner dependency destroys value 
• thinking beyond profit to adjacent buyers and acquisition value 
• preparing for due diligence with three years of financial records 
• building transferable systems, documented processes, and clear SOPs 
• strengthening the team through leadership, retention, and succession planning 
• keeping contracts ready so deals do not go stale 
• using AI to speed up process documentation and quality control 
• the sale readiness scorecard and the simple business value formula 

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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Many people spend years building wealth, growing a business, and chasing financial freedom without ever stopping to ask a simple question: What is it all for?

In this episode, Mai and Lee explore the connection between wealth, purpose, and goal setting. Drawing on conversations with business owners, investors, and families, Mai explains why financial success is difficult to achieve, let alone measure, if you don't have clarity around what you actually want from life.

The discussion focuses on setting meaningful goals, creating a vision for the future, and understanding how financial decisions should support the life you want to live. Whether your goal is early retirement, more freedom, more family time, or building a business you love, Mai shares a practical framework to help turn ideas into action.

In this episode, Mai talks about:

• Why building wealth without a clear purpose often leads to frustration
• The importance of understanding what financial freedom means to you
• Why most people struggle to define their goals
• How lack of clarity can impact financial planning and wealth creation
• A simple framework for setting meaningful personal and financial goals
• Why dreaming big is an important first step in the planning process
• The difference between wishes, preferences, and measurable goals
• How attaching emotion and purpose to your goals increases commitment
• Why time, freedom, and choice are often more valuable than money itself
• The role accountants, financial planners, and mortgage brokers play in helping achieve long-term goals
• How small financial decisions today can create greater choices in the future

This episode is a reminder that financial success isn't about accumulating wealth for the sake of it. It's about creating a life that aligns with your values, gives you choices, and allows you to spend your time in ways that matter most to you.

If you'd like help building a financial strategy that supports your personal goals, reach out to our team at www.myaccountingadvantage.com.au. You can also submit questions or topic ideas via the Ask Mai link at the top of the show notes.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.