Invites female entrepreneurs with a business idea a chance to win a share of $60,000 in equity-free funding. The Kickstarter Challenge is a competition for female entrepreneurs with a business idea. Are you the next aspiring female founder who will win? You are invited to submit your business idea across a range of categories. An expert panel of judges will then review the submissions, selecting 5 finalists who will have the incredible opportunity to pitch their ventures and compete for a share of $60,000 in equity-free funding and a suite of invaluable business support resources. It’s more than a competition – it’s a launchpad for your entrepreneurial dreams. Submissions open from 1 July, 2025, at 9:00 am AEDT and close on 1 October, 2025, at 5:00 pm AEDT. The categories are: Health, Wellbeing and The Care Economy: How can we innovate to address the health and wellbeing challenges facing Australians? Environment and Sustainability: What sustainable solutions can help protect our environment and climate? Community Impact: What innovative idea will empower and provide value to the community? Technology: What innovative idea will empower and provide value to the community? Education: What solutions will promote successful teaching and learning or improve educational outcomes for Australians? One finalist from each category will be flown to Canberra to attend the Kickstarter Challenge Grand Final where they will pitch their ideas to a panel of industry experts. To be eligible to win, entrants must: Be at least 18 years of age Identify as female Reside in Australia Represent a female-founded startup, with majority ownership and leadership held by women Have a registered business and maintain their primary place of business within Australia Hold a current Australian Business Number (ABN), either as a sole trader or associated with the business idea/name entered Have commenced trading on or after 1 January 2023, if trading has begun Generate business revenue below $75,000 AUD in the last 12 months of trading from the date of application, inclusive of grants received Maintain a business banking account in the name of the business idea submitted, established prior to entering the Promotion, or be willing to establish one if selected as a Finalist. Click here to view full funding guidelines on the provider's website.

Offers a free eight-week program that connects SMEs with practical guidance and R&D expertise to turn their ideas into a viable health care solution. Applications are now open for CSIRO's eight-week Innovate to Grow program, helping Australian small-to-medium enterprises (SMEs) transform health care innovation ideas into research and development (R&D) projects. The free eight-week online course provides practical guidance and tools to help SMEs identify and refine R&D opportunities, build compelling R&D business cases, and navigate funding pathways. Applications close on Sunday 13 July 2025. The program will assist you in: Refining your innovation idea and learning how to transform it into an R&D opportunity Accessing tools and information for a comprehensive understanding of R&D collaboration and key considerations at each step Applying this knowledge to advance your technology or R&D concept Gaining industry insights from experts, researchers and your mentor Collaborating with like-minded SMEs and expanding your professional network. Key program benefits: Personalised support to refine your idea: We'll step you through the process of turning your idea into a viable research project Confidential feedback: All submissions through the program portal will receive prompt expert feedback Mentor: You will be provided with a R&D coach paired with a researcher from CSIRO or a university to answer your questions about working on R&D projects and to help find an expert in the sector to introduce you to Build your network: You will build key contacts in your sector, including researchers and other SMEs. This program is open to any SMEs based and operating in Australia who are working on health care innovation in any of these sub-sectors: Biomedical devices Multi-omics, biostatistics and bioinformatics Medical imaging and genomics Drug discovery, vaccines and therapeutics Advanced cell models Digital health Public health and wellbeing Other Selection criteria (essential): A business based and operating in Australia that is registered with an ABN A business classified as a small to medium or startup (less than 200 employees) A business currently, or in the early stages of, exploring R&D opportunities for their business and have a health care innovation idea to work on throughout the course. Click here to view full funding guidelines on the provider's website.

Succession planning is a crucial aspect of business strategy. Having a clear exit plan ensures that all parties are prepared for a smooth and successful transition. Trends show that succession planning is starting earlier than ever, and we’ve even seen clients begin mapping out their exit strategies during the establishment phase of their new ventures. Key Considerations for Your Succession Plan Engage Potential Successors Early Include all potential successors in your planning process. Understanding their ambitions and expectations is essential for a well-aligned transition. Clarify Financial Expectations Determine whether your successor will be purchasing the business at full market value or at a discounted rate. This decision will affect both your retirement planning and the successor’s financing needs. Plan for Retirement Funding If your business’s current value won’t support your retirement goals, start working now on a business improvement strategy to increase its value prior to transition. Assess Financial Needs Post-Succession If you're accepting less than market value, carefully evaluate your post-exit financial requirements and adjust your plans accordingly. Review Business Structure Understand how your business’s assets and liabilities are structured. Will the existing structure be passed on, or is it more appropriate to establish a new one? Consider Tax Implications Investigate potential stamp duty and capital gains tax consequences when transferring assets or changing structures. Professional advice is highly recommended. Develop a Transition Timeline Map out a detailed succession timeline, outlining each step and milestone of the process. This helps ensure that nothing important is overlooked. Transfer Knowledge and Skills Allow enough time to pass on the operational knowledge required to run your business. Where knowledge gaps exist, consider additional training or mentoring for your successor. Mentally Prepare for the Transition Think about your post-succession life. What will you do with your time? Where will you live? What hobbies or pursuits will you take up? Communicate and Document Your Plan Be transparent. If you have an ideal succession plan, discuss it with the relevant people and document it clearly—even if it's years away. This can be critical if you're unexpectedly incapacitated. Plan for Financing in Family Succession For family businesses, consult your bank manager to ensure your successor can access the necessary finance when the time comes.  Update Your Will Align your Will with your succession plan. This ensures the transition can still occur if you're not around to manage it. Make sure your executor is capable of running the business if needed. Cut Financial Ties After Exit Ensure you're no longer financially responsible for the business once succession has taken place. This protects your personal finances and provides a clean break. At Smith Thornton, our business advisory team has had a busy year helping clients develop and document effective succession strategies. If you’d like to explore your options, we’d be happy to assist.

Accountants across Australia are now busily preparing for the end of financial year - drinking lots of coffee, dreaming about tax planning, getting ready for 30 June celebrations and importantly, turning their minds to all the payroll and bookkeeping tasks that need to be tended to over the coming months. Getting organised and preparing for the end of the financial year removes a great deal of pressure when the time comes to finalise payroll and accounts. There are a few things that business owners and their bookkeepers should consider in preparing for and finalising the end of financial year accounts. Important Dates: 1 July 2025: Superannuation contribution rate increase to 12% 7 July 2025: Payroll tax monthly lodgement due 14 July 2025: STP finalisation declaration due 21 July 2025: Monthly BAS Lodgement date 21 July 2025: Payroll Tax annual lodgement due 28 July 2025: Quarterly BAS Lodgement date 28 July 2025: Previous quarter superannuation – must be in the fund 28 August 2025: TPAR lodgement date 1 July 2026: Pay Day Super begins Important things to note: Super Guarantee Contribution is 12% from 1 July 2025. Many software packages will automatically update the superannuation percentage, but it is always wise to check. Some software will allow an override on the Superannuation Guarantee Charge amount, and if that feature is in use, the software will not automatically update to the new rate. The new rate applies to all wages paid on or after 1 July 2025, even if some of the wages were earned prior to 30 June. ATO penalties, GIC and SIC will no longer be tax deductible from 1 July 2025. If you have a debt with the ATO, you may want to discuss with your accountant the best way to now account for ATO interest and penalties. Superannuation contributions must be in the employee’s superannuation fund by the due date, which is 28 July. Therefore, it is recommended that the payment be made earlier in the month (before 20 July) to allow time for the clearing house to distribute the funds. If it is discovered through an audit at a later date that the payment did not arrive in the fund on time, the employer will be liable for a Superannuation Guarantee Charge. Single Touch Payroll lodgements must be done at the time of processing the payroll. From 1 July 2026, there will be two important superannuation changes: Payday super: Superannuation will need to be paid at the same time as an employee’s wages – preparations for this transition can begin now by changing the frequency of super payments from quarterly to monthly (or more frequently). This may help with budgeting so that when 1 July 2026 arrives, business owners are ready to begin making the payments without any burden on business cash flow. The ATO Small Business Clearing House will close down. Business owners will need to choose another clearing house to use to lodge superannuation payments. Many accounting software packages include a superannuation clearing house with their payroll package, and most superannuation funds also have clearing houses. If help is required, please contact our Bookkeeping team and we will be happy to assist. Before End of Financial Year (EOFY) There are a number of steps that can be taken prior to the end of the financial year to help alleviate the pressure and make the EOFY a smooth process. Ensure all accounts are reconciled on a regular basis and all accounts are reconciled (including clearing accounts and inter-entity loans) to the end of April. Any of the steps in the checklist below can be commenced ahead of time, with reviews and reconciliations to be completed by the end of March, April, or May. The final checks can then be done as soon as possible after 30 June. Having completed much of the review process already, any discrepancies would have been identified and corrected. Prepare for EOFY Payroll An STP Finalisation declaration must be made by 14 July. This ensures that employees can access the necessary information to complete their income tax return. Some tasks can be completed prior to the end of the financial year (EOFY), and early preparations will assist in ensuring the finalisation is completed on time. Early preparations can include reconciling wages, superannuation and PAYG. If these are all reconciled by the end of March or April, the final reconciliation will be a smaller and less stressful task. This will make lodging the final STP and annual Payroll Tax lodgement a much quicker process. EOFY Checklist Download our End of Financial Year Checklist here, is a comprehensive list of items to check and reconcile to prepare accounts for the accountant. By implementing a process that keeps accounts up to date and regularly checked, it will help identify possible discrepancies and problems. It will prompt business owners to inform their accountant of significant business changes that may impact their tax position. It will also provide a current overview of the business and alert business owners to any changes that may impact trading and cash flow. Some items on the checklist may not apply to all business owners, but checking everything that does apply will make EOFY a breeze. Get in touch if you need our help getting your end of financial year in order.

Offers scholarships to help women in select industries participate in world-class leadership courses. All women currently employed in Australia are invited to apply for a limited pool of scholarship funding that has been provisioned for participation in a range of leadership courses. The grants are allocated with the specific intent of providing powerful and effective development opportunities for women right across the country. Women & Leadership Australia is administering a national initiative to support the development of female leaders throughout the country. Scholarships are available for women at all levels. Applications close Friday 6th June 2025, unless allocated prior. Scholarships are available for Leadership Courses Across Australia through the following courses:  Skills for Workplace Impact - $1,000 partial scholarship A 10-week program for women at all levels, providing game-changing interpersonal and communication skills to improve your impact and confidence at work. Early Career Managers - $1,000 partial scholarship Delivered part-time over four months, Leading Edge is designed to enable the transition of aspiring and early career female managers into confident, capable and motivated leaders. Mid-Level Managers - $3,000 partial scholarship Delivered part-time over seven months, Executive Ready is designed to stretch mid-level leaders and propel them towards executive level performance, behaviours and mindsets. Senior and Executive Leaders - $5,000 partial scholarship Delivered part-time over nine months, the Advanced Leadership Program is a high-impact and challenging developmental course for senior and executive leaders. Click here to view full funding guidelines on the provider's website.

For trustees running a Self-Managed Super Fund (SMSF), understanding how to maximise Exempt Current Pension Income (ECPI) can lead to more tax-effective outcomes. ECPI is the portion of income an SMSF earns from assets that support retirement-phase pensions — and that income may be tax-exempt, subject to meeting regulatory requirements. While many factors can influence ECPI, the timing of contributions and the commencement of pensions are often the most impactful and practical levers trustees can evaluate. This article unpacks how these two timing-related elements can affect ECPI outcomes, with brief reference to other considerations that may also play a role. Timing of Contributions When and how contributions are made to an SMSF can significantly affect the calculation of ECPI. Generally, contributions enter the fund in the accumulation phase, where earnings are taxed at 15%. If these contributions sit in accumulation phase for most of the year before being converted into a pension, they may reduce the proportion of fund income eligible for ECPI. Alternatively, converting contributions to pension phase earlier could result in a greater share of income being exempt from tax. Points trustees may consider: Contributions made just before year-end may have little or no impact on ECPI unless swiftly allocated to retirement phase as they do not have a great impact on accumulation percentage over the whole year. Once converted to pension they boost the ECPI percentage. Early-year contributions may offer more flexibility for pension planning as well as increase the ECPI percentage if converted to pension immediately. When considering the timing of contributions, trustees should also look beyond ECPI considerations and consider the return on investment inside versus outside of the fund. This often means that if funds are available, contributing them early in the year can lead to a better investment outcome with a lower tax rate, regardless of ECPI (depending on the tax rate of the individual outside of the fund, as well as the return on investment within the fund). Timing of Pension Commencements The date a pension begins directly affects when the SMSF starts generating ECPI. Only from the commencement date does the pension phase apply, which means delayed pension commencements could result in missed tax exemptions for income earned earlier in the year. Potential considerations: Starting a pension earlier in the year may increase the ECPI proportion. A mid-year pension commencement could split the year into separate ECPI calculation periods, depending on whether the fund is using the segregated or proportionate method for calculating ECPI. At Smith Thornton, we will always use the appropriate method to ensure the best tax outcome for our clients’ funds. Documenting the pension commencement correctly is essential to support any claim for ECPI. Other ECPI Issues While timing is often the most tangible variable trustees can manage, it is important to be aware of other factors that can impact ECPI: Asset Allocation Strategic asset allocation, while staying within compliance and risk tolerance, can influence the overall tax efficiency of a fund’s income in retirement phase. Since ECPI is based on income generated by assets supporting retirement-phase income streams, the mix of assets (such as shares, property, or cash) affects the amount of exempt income. For funds using the proportionate method, higher income-generating assets in the retirement-phase portion can increase the tax-exempt benefit. Conversely, if lower-yield assets support pension interests, the ECPI benefit may be reduced. Record-Keeping Strong documentation supports compliance, audit readiness, and accurate ECPI claims. Smith Thornton will always ensure that all records are kept correctly and are available if our clients have any questions about the appropriate record keeping requirements. Likewise, it is also very important for the trustee to maintain good record keeping. ECPI Calculation Methods The choice between the segregated and proportionate methods, as mentioned above, can impact the final exempt amount. Each of these aspects plays a supporting role, and understanding how they interact with timing decisions assists with effective SMSF management. In Summary This article highlights the importance of forward planning and strategy for SMSFs. Smith Thornton encourages our clients to contact us early if considering changes to their SMSF so that the appropriate planning and timing can be implemented. We note that these are general insights only and should not be considered personal financial advice. Clients should always seek our guidance before implementing changes, particularly when tax outcomes and member balances are involved. If required, we can introduce clients to our partners, Knights Financial Advisors, who are licenced financial advisors and can provide financial advice.

This article provides a firsthand explanation of how the live sheep export ban impacts sheep farmers and the wider community. Chrissie Smith and her husband are sheep farmers based in Kojonup and we share this opinion piece that she prepared with her permission. Yesterday, during a discussion over a Facebook post, I was asked by a friend of a friend if I could clarify the thought process around the live sheep export ban from a sheep farmer's perspective, and if farmers were over dramatising the situation. A very honest question, and one I was very happy to answer. These are mine and my husband's words and sentiments.... There is a lot to explain, and it isn't as simple as just numbers. Maybe make yourself a cup of tea. Western Australia's "sheepbelt" has a very different climate from that of our Eastern State counterparts. They also have much better slaughter facilities and can process a much higher number of sheep than we can here in the West. Our sheep production year runs from November to November. We start preparing our ewes for mating in November, rams go into the mob in February, we drop our lambs late June & July, and we grow out the lambs through those other months, ready for the market in November. Our green feed season generally runs from May to November. Outside of those months, we rely on dry feed and supplementary feeding. We (my husband and I) opt to sell our lambs straight from mum, where possible, as it is the most profitable. Due to WA having long dry summers, we do not get the same green feed window that they do in the Eastern States. A lot of farms over there have irrigation and lucerne and perennial based pastures, which WA is not suited to. They also receive a lot more summer rain. Therefore, it is way more difficult for us to grow out our lambs in a shorter period of time. Hence, we get an influx of sheep ready to be slaughtered all at a similar time. We don't have the facilities to handle large numbers, and if we don't get the kill space with the abattoirs, we risk being stuck with stock that is ready for slaughter but no market. For example, in the springtime flush, NSW, VIC & SA will kill approximately 510,000, and WA kills 93,000 per week. You have to understand that the WA processing companies are desperate to get rid of live sheep export. The reason being, is that if Live Export disappears, they have no competition, because there are more sheep than can be processed, which causes a massive over supply, and therefore a direct price reduction for the farmer. This happened in the spring of 2023 when Live Export came to a standstill on the government's announcement. The WA sheep farmer was receiving as little as $35 p/h for mutton and $110 p/h for lambs. This is where the live sheep export comes into play. This offers us another market to sell our sheep, and they will offer us a good price for what we call our stores. These are lambs and older sheep and wethers (mutton) who haven't grown out as well as we would like, often due to our seasonal conditions, and for farmers who don't have the capabilities to hold on to the sheep for a longer period of time, mainly due to how much it costs to feed them, and the issue of soil erosion because of being overstocked in the dry conditions. In the last few years, we have been getting between $5.20 and $7.10 per kg dressed (which means after they have been slaughtered). So for our 365 days of work put in to produce a lamb, we receive $5.20 to $7.10 per kg, we also have to pay to get our sheep delivered to the abattoirs They process the lamb in one day and then deliver to the grocery store, who packs and sells to their customer for $45 per kg. Does this seem fair to the farmer? If we need to hold on to our sheep for a longer period, it will cost us between $50 - $60 per sheep to continue to feed, and there is no guaranteed price at the end of that, so with a falling market, the farmer can lose a lot of money. So, with no additional market for the extra sheep (removing live exports), it becomes a very big risk to the sheep farmer, and their business starts to become unviable. This is where the snowball effect starts to take place. The sheep farmer loses faith. They've lost their only other market to sell their sheep through, they reduce the number of sheep they are producing, which is what is already happening in preparation for the ban. Many farmers opted not to put their rams out with the ewes this season, for fear of being stuck with sheep they can not sell in the future. Now I won't lie, for us, this has helped the lamb per kg price recover. At $5.20 per kg, there is no money in producing a lamb, so for every price rise above that is a huge bonus for us. However, because of the reduction in numbers, there is no need for shearing contractors, no need for transport companies to move our sheep from farm to abattoirs or the port, people leave the farming communities, our schools suffer, our medical facilities suffer, and our small businesses suffer. For the regional communities, it becomes death by association. I saw recently that Wagin two years ago had eight shearing teams; they are now down to three teams. That is approximately 50 employees, plus their partners and their children who have left the Wagin community in the past 12 months. Another example is three local contractors around our area marked 100,000 less lambs in 2024 compared to 2023. Again, it's about economics; they take a massive hit in revenue, their business profit is reduced, they can't afford employees, and again, more people leave our communities. The Labor government, Albo and his constituents, made this decision without any consultation. They chose to take the side of Sydney Green Representatives and members of PETA to buy their votes in the last election. If they can ban an industry in the blink of an eye, which industry is next? If Beef goes, Northern WA and the NT are stuffed. Then it will be pork, chicken, eggs... My question to everyone is...go to your fridge, and pull out everything in there that is produced by a farmer, and let me know what you have left. Then, rethink how important farmers are for our country. Farmers are caring and nurturing people, but imagine if they coordinated together to stop providing all produce for 14 days, with nothing leaving the farm gate - what would happen? Lamb, beef, pork, chicken, eggs, milk, butter, yoghurt, ice cream, cheese, cereals, rice, sugar, fruit, vegetables, beer, wine, your cup of tea you just made...and the list goes on. The impact on farmers and our rural communities is not being over dramatised. I could go on forever about this, and to be honest, if you have read this far, I really appreciate it. Hopefully, this gives you some insight. I really do thank you for asking a very honest question, and hopefully, you can see this as a very honest answer.

Being an employer of choice as a small business owner is a key component of long-term success. Small businesses are presented with unique challenges when it comes to competing with larger organisations for top talent, but with a strategic approach, challenges can become opportunities. By including employee attraction and retention strategies in a strategic plan, small businesses can build a loyal, motivated workforce and position themselves for sustainable growth. What is Strategic Planning for Small Businesses? Strategic planning is the process of defining the key goals and direction of a business and the actions required for success. This will involve setting long-term and short-term goals, identifying potential risks/issues that need to be resolved, and mapping out measurable actions and responsibilities. A key pillar of a small business strategic plan should focus on people because attracting and keeping the right staff is critical for business success and growth. Some other key benefits of linking employee-related goals to the strategic plan include: It will ensure that talent management remains a focus, which is essential when employees are one of the most important assets of a business. Decisions regarding employing new staff and managing existing staff will become intentional and structured and form a cohesive approach to building the best team. With good planning and communication, employees can work towards achieving business goals and become aligned with the mission and vision of the business. Employee retention is more cost-effective than constantly recruiting and training new hires. A strong employer brand that’s incorporated into your strategic plan helps ensure long-term stability, minimising turnover costs and creating a loyal, experienced workforce. Planning to become an Employer of Choice Below are some examples of how business owners can use actionable steps to attract and retain talent. It is also interesting to see how some of these examples also promote business growth. Training and development Investing in staff development can align with nurturing employees’ own personal growth and ambition, as well as helping business owners achieve long-term success. Actions might include: Identify areas where the team needs development to help the business grow. (e.g. leadership skills, cross-functional skills, technical skills, professional certifications, soft skills). Create a staff development and training calendar that aligns with those needs. Create a mentorship program which will not only encourage knowledge sharing but will also build relationships. Develop a clear career pathway for each role within the business. This motivates and gives employees a long-term focus. Workplace culture Employees place great importance on feeling happy and supported at work. Creating a workplace culture that promotes this is a key factor in retaining staff. Actionable steps aimed at improving workplace culture might include: Develop and promote a brand that reflects the values and culture of the business. This will naturally help attract the right staff as job applicants tend to research the business prior to applying to determine whether the business is a good fit for them. Identify and engage in training and staff development options aimed at improving workplace culture. Create and enact a plan on how to monitor staff engagement and satisfaction. Recruitment Small businesses often have limited resources, but allocating some of those resources to talent management can have a lasting impact on a business’s ability to grow. Create a recruitment plan that budgets for: Attractive compensation packages - ensure pay is aligned with industry standards based on location and sector. Offering flexible benefits or non-monetary rewards (such as extra leave or remote work options) can make a huge difference. Employee referral programs - encourage current employees to refer friends or colleagues by offering incentives. Employee referrals are often a more cost-effective recruitment strategy for small businesses, and they tend to bring in candidates who are a good cultural fit.  Sufficient human resources involvement – high-quality human resources assistance throughout both the recruitment process and day-to-day operations is essential. It helps with talent management and guiding behaviours that promote a good workplace culture. Work-life balance Incorporating work-life balance into the business strategy is crucial for small businesses looking to become an employer of choice. Having a focus on work-life balance is an investment in employee well-being, which directly impacts retention and productivity. Some actions that are aimed at achieving a good work-life balance include: Reviewing and updating business procedures and infrastructure to enable an offering of remote work options, flexible hours, or a hybrid model to employees. Establish guidelines promoting healthy work habits, such as encouraging employees to take their vacation days and limiting work outside regular hours. Identify and implement communication tools that will promote regular conversation between management and staff. Early identification of burnout or work overload is key (e.g. employee surveys, one-on-one check-ins, and team meetings). How to Stay on Track As with any business strategy, it’s essential to measure the effectiveness of employer of choice initiatives and make adjustments as needed. This can be done via surveys, focus groups and performance reviews. It is also essential that the overall strategic plan of the business be reviewed regularly to ensure that actions are being addressed and also that the plan remains relevant as the business grows. If you need help developing the strategic plan for your business, please contact us at Smith Thornton.

Aims to accelerate the growth of your agtech innovative startup by giving you expert guidance, deep industry insights, critical tools, and strategic connections. Are you an agtech startup? A farmer who has developed new technology? A researcher looking to commercialise your innovation? Or a business looking to apply your technology in the agricultural sector? Now in its ninth year, HARVEST has supported over 80 businesses. The program is valued at over $10,000 and is FREE for successful applicants. What stage should my business be to apply? - From early stage startups, to small to medium enterprises. Applications close 5 May 2025. Click here to view full funding guidelines on the provider's website.