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In this episode, Stuart and Mena uncover the most common accounting errors that can quietly cost business owners thousands in tax, compliance issues, or poor financial decisions. They begin by highlighting why your accountant plays a critical role as your de facto CFO, and how to spot red flags if things aren’t quite right. One of the biggest warning signs? A bank reconciliation that doesn’t match your records. Mena explains how overlooked discrepancies here can lead to under-reported profits, incorrect GST, or even missed fraud.

From there, Stuart and Mena alternate through a list of common accounting mistakes they frequently see, including poorly recorded director loans, unreconciled GST, misclassified expenses, inconsistent bookkeeping, and journal entries that go unreviewed. They also flag year-end issues like unadjusted stock levels or bad debts that can distort your true profit and tax position.

Mena wraps up with practical advice: if something feels off, ask questions, get a second opinion, or consider switching accountants. A short review could save tens of thousands in future headaches. Stuart closes with a reminder—your accountant should simplify decision-making, not make it harder. If they’re not adding value, it’s time to dig deeper. A must-listen for business owners who want more control over their financial outcomes.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this episode, Stuart and Mena take a deep dive into the world of small-scale property development, highlighting both the potential rewards and the very real risks involved. Off the back of recent episodes about property spruikers selling uneconomical "development sites," they clarify what genuine small-scale development looks like, who it's suited to, and where it fits into a broader investment strategy.

Mena explains the typical scope of a small-scale project, think two to four dwellings, and outlines the knowledge, financial strength, and risk appetite required to execute one successfully. They discuss how to assess feasibility, the importance of zoning and council regulations, and how to target the right locations. Stuart and Mena also cover common red flags that indicate a project should be avoided entirely.

From financing and structuring to managing construction timelines, servicing loans, and avoiding costly mistakes, the episode offers practical advice for first-time developers. Stuart shares real-world insights on how to balance risk with potential returns, and Mena outlines actionable steps for those curious about getting started.

Whether you're seriously considering a small development or just want to understand the mechanics, this episode offers a grounded, evidence-based view on how to approach small-scale projects the right way.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this follow-up episode on succession planning, Stuart and Mena explore the second path: selling your business to an external buyer. Unlike a transition strategy, this approach involves a clean break, often preferred by owners seeking speed, lifestyle change, risk reduction, or when no internal successors are available. Mena begins by outlining the different types of buyers: strategic buyers (such as competitors looking to scale), financial buyers (like private investors or P/E firms), and the key distinctions between industry insiders and outsiders. Stuart then breaks down what buyers are actually purchasing, whether assets or shares, and explains why this matters for both tax outcomes and deal structure.

Next, Mena shares what makes a business attractive to buyers, including having strong systems, clear profitability trends, clean structures, and staff retention strategies. These elements take time to build, which is why business owners should begin preparing 2–3 years in advance. Stuart closes with a look at common pitfalls, like poor planning, unrealistic earn-out clauses, and lack of professional advice, and highlights how communication with staff and clients can make or break a successful sale.

This episode is essential listening for business owners considering an exit. Whether it’s a transition or sale, early planning gives you the power to choose the best path forward.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this episode, Stuart and Mena kick off their new series on succession planning by exploring the transition pathway, where ownership and leadership of a business are progressively handed over to internal staff or family members. Stuart begins by defining what a transition strategy is and why it matters, highlighting how it can preserve a business’s legacy, protect its culture, and ensure continuity for clients and team members while reducing long-term risk.

Mena outlines how a well-executed transition, typically involving a gradual sale of equity to key staff, can keep top talent engaged and support business stability. Stuart shares how to choose the right successor, emphasising that equity should go to those who deliver irreplaceable value, not just loyal staff. They discuss how to structure the equity transfer, comparing issuing new shares versus selling existing ones, and how different business structures (company, trust, etc.) can impact the outcome.

The episode wraps with practical considerations such as fair valuations, profit distribution strategies, and the importance of a solid shareholder or unitholder agreement. Mena closes by reminding listeners that transition takes time, and success hinges on thoughtful planning. Tune in to learn when and how a transition strategy works best, and why, in some cases, a clean sale may be the better path (coming up in Episode 2).

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this episode, Stuart and Mena unpack the three essential pillars of building a successful, scalable, and sustainable business: profit margin, distribution, and demand. They begin by breaking down profit margins, exploring what makes them sustainable, and how they impact your ability to attract talent and quality inputs. Additionally, they explain why every business owner must understand whether they’re a price maker or a price taker. They explore how businesses can use their unique selling proposition (USP) to charge higher prices and build long-term profitability.

Next, they dive into distribution, how to get your product or service in front of the right people. From calculating customer acquisition cost (CAC) to leveraging local SEO and digital tools, Stuart and Mena share smart, low-cost ways small businesses can compete with larger players. They also discuss segmentation and strategies to target the most profitable customer base.

Finally, they tackle the foundation of all business success: demand. Is your product solving a real problem? Are you riding a strong trend or trying to create a market from scratch? Stuart and Mena explore how to validate your idea, identify demand-driven opportunities, and strike the right balance between innovation and market readiness.

This is a must-listen for anyone growing a business the smart, strategic way.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this practical and info-packed episode, Stuart and Mena demystify Business Activity Statements (BAS) for business owners, sole traders, and anyone new to GST and tax reporting. They begin by explaining what a BAS is, who needs to lodge one, and how often, depending on business turnover. You’ll learn when you’re legally required to register for GST (hint: it’s not just at EOFY), how to register correctly, and the difference between cash and accrual reporting, an essential distinction that affects how and when GST is declared.

Stuart and Mena also break down the mechanics of GST: how to collect it on sales, claim credits on expenses, and determine what you owe or get refunded. They explore other BAS components like PAYG Withholding and Instalments, and highlight common mistakes businesses make, such as claiming GST on personal expenses or mixing accounting methods.

The duo stresses the importance of annual GST reconciliation and outlines key compliance obligations, including invoice requirements and record-keeping rules. Finally, they discuss why engaging an accountant or bookkeeper early can help avoid ATO scrutiny, and how tools like Xero and MYOB support accurate lodgements. Whether you're just starting out or want to tighten your BAS processes, this episode is a must-listen.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this episode, Stuart and Mena explore one of the most common and misunderstood questions business owners face: how to tax-effectively get money into and out of a company. Whether you’re starting a business, investing in one, or managing retained profits, understanding the right structure from the outset can save you from costly mistakes later on.

They walk through the key ways to fund a company, either by loaning money in or contributing share capital, and explain when each method is most appropriate. If there are multiple owners involved, Stuart and Mena highlight the importance of setting clear expectations upfront to avoid confusion between lenders and shareholders.

They also cover how to extract profits tax-effectively, including dividend strategies, managing franking credits, and how using a discretionary trust as the shareholder can create valuable flexibility. Division 7A traps are explained in simple terms, with guidance on how to avoid triggering unintended tax liabilities when accessing company funds.

Finally, they compare company structures with trusts, and outline why companies may be ideal for trading businesses, despite their added complexity. This episode is packed with strategic tips and practical insights to help you set up and manage your company the smart way, right from day one.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this episode, Stuart and Mena take a deep dive into one of the biggest and often most misunderstood taxes investors face, Capital Gains Tax (CGT). Whether you're dealing with property, shares, or business assets, they explain why the smartest CGT strategies begin not at the point of sale, but before you even buy the asset.

They start by breaking down how CGT works, who gets the 50% discount, and why holding structures, like companies, individuals, or discretionary trusts, make a huge difference in the final tax bill. Mena explores how to maximise your cost base by tracking all deductible expenses, while Stuart walks through the power of discretionary trusts to stream gains and reduce tax across beneficiaries.

Listeners will also learn about the generous small business CGT concessions, how to use financial year timing to their advantage, and when it may make sense to hold assets in a company structure. The duo highlights real-world examples, including property strategies that stagger gains over multiple years, and tactical planning tips for EOFY.

This episode is a must-listen for anyone wanting to reduce or eliminate CGT and understand why strategic ownership from the start is the real secret to long-term tax efficiency.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.