In this episode, Toufic Haddad sits down with David Ingram from I&R Advisory to talk through one of the most stressful situations a business owner can face.Your sales are down.Cash flow is tight.Suppliers are chasing.The ATO is owed money.And the business is sitting in a serious hole.So what do you actually do?David explains the options available to distressed businesses, including payment plans, cost cutting, liquidation, voluntary administration and small business restructuring.Toufic and David also break down what an SBR actually is, who may qualify, how creditors vote on the proposal, why the ATO is often the major creditor, and why the numbers need to prove the business is viable before any restructure makes sense.This episode covers:Small business tax debtWhat to do if your business is in financial difficultyWhen to speak to your accountantATO payment plansSmall business restructuringWhat an SBR actually meansPaying creditors cents in the dollarHow creditor voting worksLiquidation versus restructureWhy viable businesses can sometimes be savedWhy some businesses need to be shut downEmployee entitlements and lodgement requirementsThe role of insolvency practitionersWhy putting your head in the sand makes things worseIf your business is under financial pressure, the worst thing you can do is ignore it. Get advice early, understand the numbers, and work out whether the business can be saved before the situation gets worse.Connect with David Ingram and I&R Advisory:I&R Advisory Websitehttps://iandradvisory.com.au/I&R Advisory Contacthttps://iandradvisory.com.au/contact-usDavid Ingram LinkedInhttps://au.linkedin.com/in/david-ingram-76b22052I&R Advisory LinkedInhttps://www.linkedin.com/company/i-r-advisoryNeed an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax, insolvency or business advice. Speak with a qualified adviser about your own circumstances.

In this episode of The Account Rant, Jacob sits down with Rachel Carey to talk about the side of business growth people do not post about.More sales.More staff.More overheads.More problems.Rachel breaks down why growth can become dangerous if the systems, people and profit are not keeping up, and why business owners need to earn the lifestyle they want before pretending they already have it.Connect with Rachel CareyRachel Carey Websitehttps://www.rachelcarey.au/What Are We Drinking? w/ Rachel Carey Podcasthttps://www.youtube.com/@UCCoPPNW50WqjAR0lErxjEwQ Rachel Carey Instagramhttps://www.instagram.com/officialrachelcarey/Rachel Carey LinkedInhttps://www.linkedin.com/in/rachel-carey-allara/Allara Support Serviceshttps://www.allarasupportservices.com.au/Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/The Account Rant is a business and accounting podcast by Latitude Accountants.This is general information only, not business, financial or tax advice. Speak with a qualified adviser about your own circumstances.Chapters00:00 When growth stops being worth it00:23 Revenue is vanity, profit is sanity01:23 Every sales level has new problems02:00 The $300k to $500k wilderness02:39 Why $1 million can be easier than $500k03:41 Growth sucks cash04:23 Sales do not matter without profit05:18 Hiring great people06:29 You have to earn work life balance08:07 The 4 hour work week is not real09:15 The trenches before success13:01 How ambitious employees should grow15:17 Why small business owners matter17:20 Rachel’s best advice for business owners#TheAccountRant #RachelCarey #BusinessGrowth #SmallBusinessAustralia #Entrepreneurship #BusinessOwner #RevenueIsVanity #ProfitIsSanity #LatitudeAccountants

Welcome back to CEO Breakdown.John Saade is back with an update on his prediction that Sydney property could fall by up to 20 percent.One week after calling it, the headlines are starting to catch up.In this episode, John breaks down reports of Sydney house prices tracking toward one of the biggest corrections in decades, why buyer confidence has fallen, why sellers are struggling at auction, and why another interest rate rise could put even more pressure on mortgage holders.But it is not all doom.John also explains why a falling market can create real opportunities for buyers who know what they are looking for, including one client who found a Bankstown property already discounted by $250,000.The episode also covers a huge Kiama property loss, the latest Bathla Group fallout, alleged off the books investor loans, the flow on effect for subcontractors, the government’s trust tax changes, and a few business owner lessons from viral videos on staff motivation, superannuation and scaling a team.This episode covers:Sydney property price fallsJohn’s 20 percent property drop predictionThe biggest correction in 40 yearsWhy auctions are strugglingWhy buyers have more power right nowHow to find a bargain in a falling marketThe Kiama property that lost over $2 millionInterest rate rise warningMortgage stress and the negative wealth effectBathla Group and private credit riskSubcontractors and unpaid buildersThe new trust tax concessionWhy discretionary trusts may lose their purposeStaff motivation and business incentivesWhy company directors must pay their own superPeople and processes in a growing businessIf you disagree with John’s property prediction, drop your thoughts in the comments.Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax, property or business advice. Speak with a qualified adviser about your own circumstances.

In this video, John Saade takes you through a real redacted ATO audit letter issued to an individual taxpayer.Receiving an ATO audit letter can be stressful, but it does not automatically mean you have done something wrong. It means the ATO wants to take a closer look at something you reported or claimed in your tax return.John breaks down what the letter says, why the taxpayer may have been selected, what the ATO is asking for, and what evidence you may need to provide if your deductions are questioned.This video covers:-What a real ATO audit letter looks like-Why high deductions can trigger ATO attention-How the ATO compares your claims to industry averages-The burden of proof in an audit-Why receipts and records matter-Car expenses and logbook claims-Travel, tolls, parking and taxi claims-Work clothing and laundry deductions-Mobile phone and home office claims-Employer letters and substantiation-Voluntary disclosure-What to do if you receive an audit letter-Why you should not ignore the ATOThe key message is simple: if you claim deductions, you need to be able to prove them. John explains that substantiation, records, employer confirmation and clear work related purpose are the difference between getting through an audit and being hit with amended tax, penalties or interest.OUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax or business advice. Speak with a qualified adviser about your own circumstances.Chapters00:00 Real ATO audit letter explained01:08 How to check the letter is real01:31 Why the ATO picked this tax return03:19 What the ATO wants from you04:16 The burden of proof is on you05:38 The 3 golden rules for deductions06:55 Car expenses and logbook evidence10:08 Travel, tolls and receipt requirements10:51 Work clothing and uniform claims11:34 Mobile phone and home office claims15:24 Why substantiation matters16:18 What to do if you get audited17:50 Final rule, prove every claim

Welcome back to The Account Rant.In this episode, John Saade sits down with Leigh Morris, founder of SFP Financial and the voice behind Financial Leigh, to discuss the Albanese Government’s major shake up of the financial advice industry.The new rules could allow super funds and life insurers to provide a wider range of advice to members through a new class of adviser, while banks are excluded from the regime for now.But Leigh is not impressed.As a former financial adviser, Leigh explains why the changes feel unfair to independent financial advisers who spent years dealing with higher education standards, national exams, professional years, ongoing CPD and heavy compliance after the Royal Commission.John and Leigh break down why this could push more Australians to receive advice inside large super funds, why that creates potential conflicts of interest, and why smaller independent financial advice firms may be squeezed out of the market.They also discuss SMSFs, residential property borrowing restrictions, the rising power of industry super funds, advice affordability, compliance overload, and whether young people should still consider becoming financial advisers.This episode covers:The new financial advice shake upWhy Leigh Morris thinks the rules are unfairSuper funds giving more advice to membersWhy banks are excluded for nowLower education requirements for the new adviser classFinancial advisers after the Royal CommissionWhy compliance made advice more expensiveThe problem with advice inside super fundsPotential conflicts of interestIndustry super funds and political influenceSMSFs and residential property restrictionsWhy independent advisers are under pressureWhether young advisers should enter the industryThe future of financial advice in AustraliaConnect with Leigh Morris:SFP Financialhttps://www.sfpfinancial.com.au/Instagramhttps://www.instagram.com/financial.leigh/LinkedInhttps://www.linkedin.com/in/leighjmorris/Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax, mortgage, superannuation or business advice. Speak with a qualified adviser about your own circumstances.

Welcome back to The Account Rant.In this episode, Toufic Haddad, Jacob Fahmy, Michael Hirmiz and Patrick El-Bitar ask one simple question:What expenses are not tax deductible, but probably should be?The conversation starts with haircuts, grooming, makeup and looking good for work, especially for people in sales, media, client facing roles and business development.From there, the boys debate whether client lunches, coffee meetings, wining and dining, gym memberships, work clothes, retail uniforms, suits, childcare, medical costs, personal interest expenses and even mental health related activities should be treated differently under the tax system.They also get into one of the most frustrating rules for business owners, why client gifts can often be deductible, but taking a client out for lunch can create tax issues or fringe benefits tax.This episode covers:Haircuts and grooming for workMakeup and appearance based deductionsClient lunches and business dinnersWhy entertainment rules frustrate business ownersClient gifts vs client mealsGym memberships and work performanceMedical expenses and tax offsetsRetail clothing and work uniformsSuits for accountantsInterest income and inflationPersonal interest deductionsChildcare costs and working parentsWhy some tax rules feel backwardsToufic’s plan to become Commissioner of TaxationThis is a loose, funny and honest Account Rant about the tax deductions accountants secretly wish existed, and the rules they think make no sense.Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax or business advice. Speak with a qualified adviser about your own circumstances.

Welcome back to CEO Breakdown.

In this episode, John Saade breaks down one of the biggest warning signs in the Australian property and construction market.

A major Sydney home builder has entered administration with billions in liabilities, thousands of homes in limbo, private credit lenders exposed, subcontractors at risk, and buyers left wondering whether their homes will ever be completed.

John looks at what went wrong, why blaming the budget alone is not enough, and why business failure often comes down to debt, pricing, contracts, cash flow and bad operational decisions.

He also explains why this could be a canary in the coal mine for the broader housing market, with Sydney and Melbourne already under pressure, auction clearance rates falling, stock building up, affordability stretched and another rate hike potentially on the way.

John gives his prediction that Sydney and Melbourne could see a peak to trough property decline of up to 20 percent, while also explaining where opportunities may still exist for buyers who are focused on fundamentals, rental yield, vacancy rates, land value and long term strategy.

The episode also covers Adrian Portelli leaving Australia, influencers moving overseas, car buying warnings, franchise risks, unpaid subcontractors, and why small business owners need to understand their numbers before the market turns against them.

This episode covers:

Bathla entering administration

Thousands of homes stuck in limbo

Private credit and construction debt

Why builder collapses hurt subcontractors

The flow on effect for small business

Sydney and Melbourne property price falls

Why John predicts a 20 percent decline

Auction clearance rates dropping

Spring listing pressure

Interest rate hike risk

Why sellers may struggle

Where buyers may still find opportunity

Adrian Portelli moving to Dubai

Franchise risks for small business owners

Unpaid subbies and construction disputes

The core warning in the episode is that a major builder collapse, weak property sentiment, rising rates and falling Sydney and Melbourne prices may all be pointing to a broader property reckoning.

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Website

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This content is general information only and does not constitute financial, legal, tax, property or business advice. Speak with a qualified adviser about your own circumstances.

Welcome back to The Account Rant.

In this episode, Raymond Semaan and Catarina Santini discuss one of the biggest questions people face before starting a business:

Are you starting a business for the right reasons?

A client might be in a stable wage job, paying the bills, managing their loans, but still feel unsatisfied. One day they want to open a cheesecake shop, the next day it is a mechanic shop. So how do you know whether someone has a real business idea, or whether they are just chasing money, freedom or escape?

Ray and Cat break down why passion matters, why profit alone is not enough, and why being good at the technical work does not automatically make someone a good business owner.

They also discuss the hidden responsibility of business ownership, including admin, payroll, bookkeeping, invoicing, health and safety, reputation, staff, customers and the pressure that employees often do not see.

This episode also covers opportunity cost, quick money ideas, COVID side hustles, tax traps, customer retention, business processes, break even numbers and why some businesses end up being just a worse job with more stress.

This episode covers:

Starting a business for the right reasons

Passion vs profit

Why chasing money can go wrong

Business owners vs employees

Why technical skill is not enough

Admin, payroll, bookkeeping and invoices

Reputation and responsibility

Quick money ideas and COVID side hustles

Tax traps in side businesses

Opportunity cost

Hourly rate after tax

Break even numbers

Knowing how many sales you need to survive

Need an accountant?

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OUR SERVICES

https://latitudeaccountants.com.au/accounting-services/

[email protected]

TikTok

https://www.tiktok.com/@latitudeaccountants

Instagram

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YouTube

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LinkedIn

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Facebook

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Website

https://latitudeaccountants.com.au/

The Account Rant is a business, accounting and tax podcast by Latitude Accountants.

This content is general information only and does not constitute financial, legal, tax or business advice. Speak with a qualified adviser about your own circumstances.

8 years ago, John Saade was 170kg, severely overweight, unhealthy, depressed and heading in the wrong direction.

Now, at 40 years old, he is stronger than he has ever been and has just competed in his first local powerlifting competition, which he won.

In this episode, John walks through his first ever powerlifting comp, including his squat, bench press and deadlift attempts, the nerves of competing, the role of his coach Bethany Parker, and what it took to hit a 560kg total.

He also opens up about his weight loss journey, going from 170kg to 88kg, weight loss surgery, reversing his gastric bypass, rebuilding his strength, dealing with health setbacks, and why powerlifting became the goal that helped him stay accountable.

This is a story about discipline, consistency, obesity, strength, fatherhood, business leadership and refusing to go backwards.

This episode covers:

John’s first powerlifting competition
Squat, bench press and deadlift attempts
Winning his first local comp
Going from 170kg to competitive powerlifter
Weight loss surgery and reversal
Why John chose powerlifting
Training with Bethany Parker
Recovering from a gallbladder attack before comp
Discipline, consistency and doing hard things
Why John is documenting the journey publicly

00:00 From 170kg accountant to powerlifter
00:30 John’s first powerlifting competition
00:47 Squat attempts
02:05 Bench press attempts
03:55 Deadlift attempts
05:15 What comp day is really like
06:30 Why having a coach matters
08:05 John’s weight loss story
11:25 Gastric bypass and side effects
12:55 Why John reversed the surgery
15:05 Why he chose powerlifting
17:20 Chasing nationals
18:20 Current training program
22:40 Gallbladder attack before comp
26:15 Making training non negotiable
27:10 Discipline and consistency
29:50 Why John is documenting the journey

Need an accountant?

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Website
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John Saade is the CEO of Latitude Accountants. Outside of accounting, business and leadership, this series follows John’s personal powerlifting journey and his goal of rebuilding strength, discipline and health.

This content is for entertainment and personal experience only, not health, medical, fitness, financial or tax advice. Speak with a qualified professional before making decisions about training, nutrition, weight loss surgery, your health or your finances.

Chapters

Welcome to Tradie Pat, the new series from Latitude Accountants helping tradies understand the business side of going out on their own.If you have ever looked at what your boss charges for your time and thought, “Why am I not doing this myself?”, this series is for you.In episode one, Pat breaks down the first question every tradie needs to ask before starting a business:Are you actually ready to run a business, or do you just want to stop working for someone else?Because those are two very different things.Going out on your own is not just about charging more per hour. That money needs to cover fuel, tools, vehicles, insurance, super, tax, quoting, admin, chasing invoices, mistakes, downtime and all the things most employees do not see.Pat also explains why being good at the trade is not enough. As a tradie business owner, you need to quote, invoice, schedule work, manage cash flow, negotiate supplier terms, chase payments, understand tax, and still actually do the work.This episode covers:Why your boss charging $120 an hour does not mean they keep it allThe difference between sales and profitWhy “I hate my boss” is not a business planThe hidden costs of running a trade businessWhy clients become your new bossCash flow, suppliers and unpaid invoicesTools, utes, startup costs and working capitalThe five questions every tradie should ask before startingWhether you want a real business or just a better jobThe five readiness questions:Am I good enough in my trade to charge for it independently?Do people already want to hire me?Can I survive financially if the first few months are slow?Can I sell, quote, invoice and chase money?Do I want to build a business, or do I just want a better job?In the next episode, Pat will cover business structures and what you need to set up before starting your tradie business.Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax or business advice. Please speak with a qualified adviser about your own circumstances.