Act Now to Prepare for Payday Super

While Payday Super is due to officially commence on 1 July 2026, employers affected by the new rules should begin preparing now.

Holmans recommends that all employers start applying the new Payday Super approach before 1 July 2026 so that any systems, processes and cash-flow impacts can be managed well before the rules become mandatory.

What is changing?

Payday Super changes how and when employers must pay employee superannuation guarantee contributions.

From 1 July 2026, employers will be required to pay employees’ super guarantee on payday, rather than quarterly.

This means super contributions must be paid whenever employees are paid — whether that is weekly, fortnightly or monthly.

Under the new rules:

• Super guarantee will be calculated at 12% of an employee’s qualifying earnings (QE).
• Qualifying earnings bring together ordinary time earnings (OTE) and certain other payments into a single definition.
• Super contributions must be paid to the employee’s super fund on payday.
• The contribution must be received by the super fund within 7 business days of the pay run, unless an extended timeframe applies (for example for new employees).

Closure of the ATO Superannuation Clearing House

The ATO Small Business Superannuation Clearing House will close on 30 June 2026.

Employers currently using the ATO clearing house will therefore need to transition to an alternative clearing house provider.

More information about the closure can be found here:
ATO Small Business Superannuation Clearing House

What employers should do now

Holmans recommends that businesses begin preparing now by taking the following steps:

• Check employee superannuation details
  Ensure each employee’s superannuation fund details are current and recorded correctly.
• Confirm your payroll software is compliant
  Check that your payroll or accounting software is STP and SuperStream compliant and that it will support Payday Super requirements. If unsure, speak with your bookkeeper or software provider.
• Choose a new clearing house if required
  If you are currently using the ATO clearing house, you will need to move to an alternative provider.
• Begin paying super each pay run
  Holmans recommends transitioning to Payday Super payments before 30 June 2026. This allows your business time to understand the cash-flow impact, ensure payroll systems are working correctly and resolve any administrative issues before penalties apply.
• Ensure super details are obtained for new employees
  Employers should ensure they have valid superannuation fund details on file for all new employees. Where employees do not provide fund details, a Stapled Super Fund may need to be used. Holmans’ general preference is to ensure super details are provided before employment commences where possible.

A list of SuperStream-certified clearing houses can be found here:
SuperStream Certified Product Register

What happens if employers do not comply?

The consequences of failing to comply with Payday Super requirements can be complex and costly.

These changes have been introduced to ensure that employees receive their superannuation contributions on time.

The ATO will use Payday Super reporting data to identify non-compliance quickly and move into review and enforcement where required.

For most businesses, it will be far simpler to prepare early and ensure systems are ready before 1 July 2026.

Where can I find more information?

• ATO Payday Super overview
  ATO Payday Super Overview
• ATO employer preparation checklist
  ATO Payday Super Checklist for Employers
• Xero Payday Super resources
  Xero Payday Super Information

You can also speak with your bookkeeper, payroll provider or software provider.

Need help preparing for Payday Super?

If you would like assistance reviewing your payroll systems, clearing house arrangements or superannuation processes, Holmans can help.

Please contact the Holmans team to discuss how your business can prepare for Payday Super before the 1 July 2026 deadline.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

Ready to take the next step in your accounting career?

Holmans is looking for an experienced and driven Senior Accountant / Client Manager to join our growing team on the stunning Sunshine Coast.

This is a work-from-home role for candidates based in Brisbane or the Gold Coast, with regular connection to our Sunshine Coast team as needed.

This is more than a job — it’s an opportunity to thrive in a values-driven firm that believes in genuine client care, collaboration, and having a little fun along the way.

About Holmans

We’re a long-established, 4-partner firm with offices in Noosa and Maroochydore. Holmans is proud to deliver exceptional service and strategic advice, with deep expertise in the accommodation and tourism sectors, particularly Management Rights businesses.

Our Accommodation Team works closely with clients across the full lifecycle of their business, from acquisition and growth through to optimisation and exit planning.

We’ve built a culture around support, professional growth, and genuine care for each other and our clients. If you’re seeking variety, flexibility, and real career progression this is the place.

Your Role

As a Senior Accountant / Client Manager – Accommodation Team (Management Rights Focus), you will:

• Building lasting relationships with clients, particularly in the accommodation industry
• Delivering tax, accounting, and business advisory services
• Providing strategic guidance in areas such as forecasting, cashflow, and growth planning
• Preparing financial statements, tax returns, BAS and payroll tax obligations
• Being a trusted advisor and part of the client’s success journey
• Prepare Adjusted Profit & Loss for Sale Reports and Financial Verification Reports
• Contribute to the development of systems, workflows, and best-practice processes within the Accommodation Team
• Mentor and support junior team members as the team continues to grow

What We Offer

• A welcoming, supportive team culture
• Quarterly tax updates, specialist training, and structured career progression
• A variety of interesting work — no two days are the same
• Leading systems, templates and workflows to make your job easier
• Work-from-home role for candidates based in Brisbane or the Gold Coast, with periodic travel to the Sunshine Coast for team connection and training
• Regular team events and social catch-ups

About You

• Ideally you’re based in Brisbane or the Gold Coast and comfortable working remotely with a Sunshine-Coast and Brisbane based team
• You’re a confident communicator and relationship-builder
• You take ownership of your workload and enjoy managing a diverse client portfolio
• You have a minimum of 5 years’ experience in public practice
• You’re CA or CPA qualified (or close to completion)
• Experience with Management Rights businesses or accommodation clients is highly regarded
• You’re professional, but don’t take yourself too seriously and you love being part of a positive, motivated team

Let’s Talk

This is a rare chance to join a leading Sunshine Coast firm with a loyal client base and an exceptional internal culture. If this sounds like you, we’d love to hear from you.

To apply, email your resume and cover letter to accom@holmans.com.au or visit our Careers Page and submit your information via our careers form.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

Dual cab utes continue to cause confusion for small businesses when it comes to fringe benefits tax. A common belief is that heavy-duty work vehicles are automatically exempt from FBT, regardless of how they are used.

The reality is more nuanced. The Australian Taxation Office has made it clear that FBT can apply to the private use of dual cab utes, even where the vehicle is capable of carrying significant loads.

Why dual cab utes attract ATO attention

Vehicles provided to employees, directors, or business owners can give rise to fringe benefits tax when they are used for private purposes. This includes dual cab utes supplied as part of a work arrangement.

While certain exemptions exist, the ATO is concerned that many businesses focus only on whether a vehicle can carry a load of one tonne or more, without properly considering how often the vehicle is used for personal trips.

Regular private use — such as school drop-offs, shopping, or recreational travel — may result in FBT applying, even where the vehicle is primarily used for work.

When a dual cab ute may be exempt from FBT

A dual cab ute may be exempt from fringe benefits tax where it is designed to carry loads of one tonne or more, is not primarily used to carry passengers, and any private use is minor, infrequent, and irregular.

This exemption depends not only on the design of the vehicle, but also on how the vehicle is actually used in practice throughout the year.

What counts as minor and infrequent private use

The ATO provides specific guidance on what qualifies as minor and infrequent private use. For journeys undertaken for a wholly private purpose (other than travel between home and place of work), the exemption will generally apply only where:

• The employee does not use the vehicle to travel more than 1,000 kilometres in total for private purposes during the FBT year, and
• No single private return journey exceeds 200 kilometres.

If either of these thresholds is exceeded, the private use may no longer be considered minor and infrequent, and FBT may apply to the dual cab ute.

Further detail on this guidance is available in the ATO’s practical compliance guidance on minor and infrequent private use of vehicles.

Why record-keeping matters

To apply the correct FBT treatment, businesses must understand how their vehicles are being used. This involves identifying the type of vehicle provided, distinguishing between work and private use, and keeping accurate records.

• Odometer readings
• Logbooks or trip records
• Clear internal vehicle use policies

Strong record-keeping can help support a business’s position if the ATO reviews its FBT obligations. More general guidance on vehicle fringe benefits can be found on the ATO’s FBT and cars page.

FBT reporting and compliance obligations

Where a fringe benefit arises, employers must calculate the taxable value of the benefit and pay any FBT owed by the relevant lodgement date. In some cases, the benefit may also need to be reported through Single Touch Payroll.

The ATO has identified FBT compliance as an ongoing focus area for small businesses, supported by data-matching systems designed to identify employers who may be understating their obligations.

Reviewing your vehicle arrangements

The rules around FBT on dual cab utes are often misunderstood. What appears to be minor private use can quickly fall outside the exemption if usage patterns change or records are incomplete.

Regularly reviewing vehicle arrangements as part of your broader accounting and tax management can help reduce the risk of unexpected liabilities. Businesses with company vehicles may also benefit from reviewing their overall fringe benefits tax position to ensure the correct treatment is being applied.

Unsure whether FBT applies to your dual cab ute?

Holmans works closely with business owners and employers to assess vehicle use, apply the correct FBT treatment, and ensure records align with ATO guidance. Get in touch to review your vehicle arrangements and avoid unexpected FBT liabilities.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

As we move into 2026, many Sunshine Coast small businesses are refining their budgets, reassessing their financial goals, and planning for the year ahead. This Sunshine Coast budgeting 2026 approach is especially important as businesses prepare for a new financial cycle. Whether you’re running a café in Noosa, a trades business in Maroochydore, a medical practice, or a boutique accommodation property, a clear, well-structured budget is one of the strongest tools you have for building profitability and reducing financial stress.

Below is a practical, accountant-approved budgeting guide to help Sunshine Coast business owners start 2026 with clarity, confidence, and a plan for growth.

1. Review Last Year’s Numbers First

Budgeting starts with hindsight. Before projecting forward, take a close look at 2025:

• What were your biggest income months?
• When did cashflow tighten? (Common on the Coast: Feb–Mar, and post-winter.)
• Which expenses blew out unexpectedly?
• Did labour, rent, supplies, or utilities increase?
• Were there any one-off costs that won’t repeat?

For Sunshine Coast operators, seasonal patterns matter. Tourism cycles, holiday peaks, school terms, weather patterns, and local events all shape income and demand. Knowing these patterns helps create a realistic budget instead of wishful thinking.

2. Set Clear, Realistic Revenue Targets

Revenue forecasting for 2026 should bridge two realities:

• What your business historically earns
• What is reasonably achievable in changing market conditions

To build accurate targets, consider:

• Expected client demand
• Local economic conditions
• Industry-specific seasonal factors
• Planned expansions or new services
• Pricing adjustments or cost-of-living impacts

On the Sunshine Coast, population growth and ongoing construction activity mean many industries continue to expand. Businesses in trades, health, tourism, and retail should build targets that reflect this opportunity—without overextending.

3. Plan for Increased Costs (They’re Coming)

Operating costs have been rising across the Coast, particularly in:

• wages (due to award increases)
• insurance
• materials and supplies
• rent and commercial leases
• utilities
• software subscriptions
• compliance requirements

Your 2026 budget should build in realistic cost increases rather than relying on 2025 figures. A small buffer of 5–10% for variable expenses can help prevent shortfalls.

4. Reassess Your Pricing Strategy

Many business owners hesitate to adjust prices—but failing to increase prices while costs rise will erode profit.

Key considerations:

• When was your last price review?
• Are your margins still healthy?
• Are competitors on the Coast charging more?
• Have clients increased expectations for service, speed, or quality?

Sunshine Coast customers are value-driven, not necessarily bargain-driven. Transparent, modest price increases are accepted when communicated well.

5. Build a Strong Cashflow Forecast

Cashflow challenges are one of the most common issues we see at Holmans.

For 2026, your cashflow plan should include:

• Expected income by month
• BAS and tax instalments
• Super payments
• ATO obligations
• Loan repayments
• Quarterly/annual bills
• Seasonal dips in revenue
• Busy periods requiring more staffing or stock

Businesses on the Coast can often experience slower winters and strong summers—your forecasting should reflect this rhythm.

For general guidance on business budgeting, you can also refer to the Australian Government’s business.gov.au budgeting resources.

6. Prepare for Your 2026 Tax Obligations

Many Sunshine Coast businesses are caught off guard by tax bills because budgeting didn’t account for:

• tax instalments (PAYG)
• GST fluctuations
• superannuation guarantee increases
• deductions timing
• asset purchases
• changes to instant asset write-off thresholds

Early planning avoids end-of-year cash stress. A quarterly review with your accountant helps keep tax obligations predictable and manageable.

7. Review Your Business Structure

A new year is the perfect time to check whether your business structure still suits your income, risk level, and growth.

Consider a review if:

• profit has increased significantly
• you’re taking on employees
• you’re adding a second business
• you now own valuable assets
• you’re exposed to greater risk
• you’re paying more tax than necessary

The right structure can improve tax efficiency, asset protection, and succession planning—especially important for family-run Sunshine Coast businesses.

8. Update Your Payroll & Staffing Plan

Labour shortages remain a consistent challenge across the Coast.

Your 2026 budget should include:

• award updates
• minimum wage increases
• recruitment expectations
• holiday loading
• overtime
• training requirements
• additional staff for peak seasons

A good staffing plan protects service quality during busy tourism periods and reduces overspending during quieter months.

For up-to-date information on pay rates, minimum wages and award changes, visit the Fair Work Ombudsman’s pay and wages guide.

9. Review Subscriptions, Overheads & Hidden Costs

Every small business has recurring expenses that quietly grow over time.

Do a 2026 audit of:

• software subscriptions
• merchant fees and bank charges
• phone & internet plans
• insurance policies
• unused tools or services

Many Sunshine Coast businesses save thousands each year simply by trimming unused or overpriced services.

10. Set Clear Profit Goals for 2026 as Part of Your Sunshine Coast Budgeting Strategy

Finally, budgeting isn’t just about controlling expenses—you can’t cut your way to growth, so it is more about planning for profit.

Define:

• a target profit margin
• personal income goals
• money to reinvest in the business
• funds for tax and savings
• buffers for quiet months
• goals for debt reduction

Turning profit into an intentional, planned number—rather than something you “hope” happens—is the biggest shift that separates growing businesses from stagnant ones.

Final Thoughts

A strong, well-built 2026 budget gives Sunshine Coast business owners confidence, stability, and a roadmap for growth. Whether you’re adjusting for rising costs, planning for expansion, or preparing for seasonal shifts, taking the time to structure your financial year now will pay dividends all year long. A well-planned Sunshine Coast budgeting 2026 strategy helps businesses stay resilient and focused throughout the year.

Need help building a 2026 budget for your business?

Holmans specialises in supporting Sunshine Coast business owners with budgeting, forecasting, tax planning, and personalised accounting advice. Get in touch to start 2026 with clarity and confidence.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

The Federal Government is moving ahead with Tranche 2 reforms to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006, expanding the regime to include new “gatekeeper” professions such as real estate agents, lawyers, accountants, and trust-service providers.

These reforms are scheduled to take effect from 1 July 2026 and will require real estate professionals to conduct customer due diligence, report suspicious transactions, and combat financial crime.

What is covered under “real estate services”?

Under the legislation, a designated service includes:

• Brokering the sale, purchase, or transfer of real estate on behalf of a client (for example, acting as a sales agent or buyers’ agent).
• Property developers selling real estate directly to purchasers.
• Assisting in the planning or execution of a real estate sale or transfer (such as settlement or transfer of title).

In other words, if your business is involved in the sale or purchase of property, you’ll likely fall within the new Tranche 2 regime.

Activities that do not involve the sale or transfer of ownership—such as property management, residential leasing, and holiday letting—are expected to remain outside the scope of the reforms.

What this means for real estate agents

Once the reforms commence, real estate agencies that provide designated services will become “reporting entities” under the AML/CTF Act and will be required to:

1. Enrol with AUSTRAC. You must enrol your business with AUSTRAC within 28 days of providing a regulated service. Enrolment for Tranche 2 entities will open on 31 March 2026. Enrol or register here.
2. Implement an AML/CTF Program that sets out how you will identify, mitigate, and manage money-laundering and terrorism-financing risks.
3. Perform customer due diligence (KYC) on vendors and buyers before providing services.
4. Report suspicious matters and certain transactions to AUSTRAC.
5. Maintain records of identification, transactions, and compliance activities.

Failure to comply could lead to significant penalties and regulatory action.

What about management rights operators?

For those in the management rights industry, most activities involve property management and short-term or permanent letting. These services do not involve property sales or transfers, and therefore are unlikely to be captured under Tranche 2.

However, if you are a manager who also acts as a selling agent (for example, selling units in your complex or referring buyers for commission), those specific activities may bring you within the new regime.

What you should do now

Although the start date is still a while away, preparation should begin early. We recommend that real estate businesses:

• Review your service offerings to confirm whether you are involved in any “designated services” under the reforms.
  • Use a decision tool to determine if you may be regulated — check your status here.
• Assess your existing processes for verifying clients’ identities and recording transactions.
• Start building an AML/CTF Program appropriate to your size and risk profile.
• Train your team on identifying and reporting suspicious activity.
• Stay informed as the final legislation and AUSTRAC guidance are released.
• Enrol or register with AUSTRAC (enrolment for Tranche 2 entities opens on 31 March 2026).

For real estate agents who sell property, AML/CTF obligations are coming and compliance will soon become a normal part of doing business. While the new rules are still being finalised, early awareness and preparation will make the transition far smoother.

For more information, see AUSTRAC’s summary of obligations for the reforms: read the AUSTRAC guidance.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

No one enjoys the idea of an Australian Taxation Office (ATO) audit — but it’s a reality that individuals, investors, and business owners should understand and prepare for. The good news is that most ATO audits are triggered for specific reasons. With accurate reporting and open communication with your accountant, you can reduce the risk — and the stress — of an ATO review.

How often does the ATO conduct audits?

While not every taxpayer will face an audit, the ATO conducts thousands of reviews and audits every year across Australia. These are often targeted at industries or activities where discrepancies are more common, such as:

• Cash-based businesses (cafés, salons, trades, hospitality).
• High-value property or capital gains transactions.
• Unusually large deductions or expenses compared to similar taxpayers.

With increasingly sophisticated data-matching technology, the ATO automatically cross-checks information from banks, employers, superannuation funds, land titles offices and even digital platforms like Airbnb, Uber and eBay. If something doesn’t match what you’ve lodged, the ATO can quickly flag it for review.

Who might be audited by the ATO?

The ATO uses data analytics to identify potential red flags in tax returns and BAS statements. Common audit triggers include:

• Income that doesn’t match employer, bank or third-party data.
• Deductions that are unusually high for your occupation or industry.
• Sudden changes in income or expenses without a clear explanation.
• Failure to lodge tax returns or BAS on time.
• Being involved in arrangements that appear to artificially reduce tax.

Even when your records are accurate, you can still be selected for a random review — which is why keeping your documentation up to date is so important.

Why full disclosure to your accountant matters

Your accountant can only prepare accurate and compliant returns based on the information you provide. If income, expenses, assets or business activities are withheld, forgotten or misrepresented — even unintentionally — the risk of an issue during an ATO audit increases.

It’s also worth noting that your accountant generally cannot be held responsible for errors or penalties that arise because the information supplied by the client was incomplete or incorrect.

By being fully transparent, you allow your accountant to:

• Ensure your returns comply with current tax law.
• Claim all legitimate deductions — but not the risky ones.
• Prepare supporting documentation in advance.
• Defend your position more effectively if the ATO asks questions.

At Holmans, we always encourage clients to tell us everything upfront — prevention is far cheaper than responding to an audit.

The real cost of an ATO audit

An audit isn’t just inconvenient — it can be costly. Depending on the scope of the review, you may face:

• Professional fees for responding to ATO queries.
• Time spent locating and providing records.
• Interest and penalties if tax has been underpaid.
• Repayments that can stretch back several years.

Because of this, some businesses and high-risk industries choose to take out audit insurance to cover the professional costs of dealing with an ATO review. If you’re unsure whether this is appropriate for you, speak with us and we can outline the pros and cons.

How to stay on the safe side

You can’t completely remove the possibility of an audit, but you can make yourself far less likely to be targeted — and far easier to defend — by following some good practices:

• Keep thorough records — invoices, receipts, bank statements, logbooks.
• Lodge on time — late lodgements are a simple audit trigger.
• Be consistent from year to year, especially with deductions.
• Ask before you claim — get advice before making unusual or large claims.
• Respond to ATO correspondence quickly — never ignore a letter.

Good record-keeping plus an active relationship with your accountant is still the best defence.

Need help reducing your audit risk?

An ATO audit doesn’t have to be a nightmare. With transparency, solid documentation, and the right advice, you can get through it — or better still, avoid it.

Holmans helps clients across the Sunshine Coast and throughout Australia to stay compliant, minimise audit risk and understand exactly what the ATO is looking for.

Contact Holmans today to talk about ATO audit risk, audit insurance, or tax compliance for your business.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

ATO Targets Tradies and Professional Services

The Australian Taxation Office (ATO) has flagged the construction industry and the professional services sector for closer review. Here’s what small businesses should know.

Industries Under the Microscope

• Construction and professional services
  These sectors (tradespersons and professional services such as engineers, consultants, and accountants) are seeing recurring compliance issues with reporting and record keeping.

Common Tax Issues

• Incorrect income reporting
  Omitting sales or under-declaring income in BAS and tax returns remains a frequent error.
• Overclaimed expenses
  Private or personal costs are being claimed as business deductions when they shouldn’t be.
• GST mistakes
  Businesses are missing GST registration when required, or overclaiming GST credits.
• R&D Tax Incentive (R&DTI) errors
  Claims are being made for activities that don’t meet eligibility criteria or lack proper documentation.

Key ATO Warnings

• Closer monitoring
  The ATO is watching closely and will apply penalties and interest where errors are found.
• Amendments and audits
  You may be asked to amend returns or face an audit if reporting doesn’t align with records.
• Seek help early
  If you’re struggling to meet obligations, get assistance from a registered tax agent, a business adviser, or the ATO.

What the ATO Expects

• Report all business income
  Ensure no jobs, invoices, or deposits are left out of BAS and tax returns.
• Claim only legitimate business expenses
  Keep personal and business costs separate and substantiate deductions.
• Maintain complete records
  Keep full and accurate documentation, especially for R&D activities and expenses.
• Register for GST when required
  Register once your turnover exceeds the $75,000 threshold (or earlier if applicable).

Small Business Growth and Complexity

• Obligations increase as you grow
  Tax and super become more complex, particularly for businesses with $1 million–$10 million turnover.
• Accuracy matters
  Take extra care with income, deductions and offsets as your operations expand.

In Short

• Now is the time to review
  Double-check your reporting, record keeping and R&D claims—the ATO is paying attention, and strong documentation is your best defence.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

Holmans Celebrates at the 2025 ARAMA TOP Awards

On Friday, 12 September, the Australian Resident Accommodation Managers Association (ARAMA) hosted their annual TOP Awards night at The Star Brisbane. The evening was a celebration of excellence, connection, and recognition for the outstanding performers and contributors within the management rights industry.

This year’s event saw record-breaking participation, with the highest ever number of nominees, votes, finalists, and attendees. It marked the third time in six years that the event sold out, reinforcing just how important the TOP Awards have become for the industry.

A Night to Remember

From the moment guests arrived, there was a palpable sense of excitement. The evening was elegantly hosted by Kimberley Busteed, whose warmth and professionalism set the perfect tone for the night. Entertainment came in the form of three talented magicians, adding surprise and delight throughout the celebration.

A highlight of the evening was the attendance of Queensland Premier David Crisafulli, a long-time supporter of ARAMA and the management rights sector. His presence was a ringing endorsement of the industry’s importance, having attended the very first TOP Awards back in 2019 when he was the Shadow Tourism Minister.

“It was an evening of connection, celebration and recognition for The Outstanding Performers across our industry.”

Holmans’ Double Recognition

I was incredibly proud to see Holmans receive double recognition at this year’s awards.

• Service Provider of the Year — Holmans was named a finalist, a reflection of our team’s dedication to supporting and championing the management rights sector.
• Life Membership Award — I was truly humbled to be awarded Life Membership for my contributions to ARAMA and its members over the past 25 years.

Being acknowledged in this way is a career highlight and a testament to the wonderful people I’ve had the privilege of working with over the years — both at Holmans and within the wider industry.

“A huge thank you to ARAMA for the double recognition at Friday night’s 2025 TOP Awards! I’m greatly honoured to be acknowledged by ARAMA, which does so much to champion the management rights industry that we’re proud to be a part of.

To our clients — thank you for entrusting us with your business. We’ll never take it for granted and will continue to give you our all.”

Looking Ahead

As I reflect on the night’s celebrations, I’m filled with gratitude and excitement for the future. The ARAMA TOP Awards have become a vital and positive fixture in the management rights industry, and I’m proud that Holmans plays a role in this incredible community.

Congratulations to all the winners, nominees, and finalists who continue to raise the bar and make our industry stronger every year.

I look forward to coming together again in 2026 for another evening of connection, celebration, and recognition at the ARAMA TOP Awards.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

Selling a management rights business is not something most people do often, and the process can feel overwhelming if you don’t know what to expect. There are many moving parts – from getting your agreements in order to preparing financials and navigating legal and body corporate approvals. Understanding the overall process upfront will make things smoother and help you avoid costly mistakes, while maximising the value of your sale.

The Sales Process – At a Glance

• Engage a Broker: Your broker will market the business, identify buyers and guide you through the sale process.
• Adjusted Profit & Loss Report: Your accountant prepares this key report to show the maintainable earnings of the business. Buyers and banks rely heavily on this figure.
• Offers Submitted: Interested buyers make formal offers.
• Offer Accepted: You agree to proceed with the chosen buyer.
• Contracts Signed: Contracts are prepared and executed.
• Financial Verification: The accountant confirms the adjusted P&L and net profit, usually within 14 days of contract signing. Providing full access to records and trust software makes this smoother.
• Legal Due Diligence: The lawyer reviews agreements, approvals and compliance, generally within 21 days.
• Finance Approval: Buyers usually have 28 days to secure finance, supported by the accountant’s and lawyer’s reports.
• Body Corporate Consent: The body corporate must consent to the assignment of agreements.
• Settlement: Once all conditions are met, the business is handed over to the new owner.

Steps to Take Before You List

• Letting Appointments: Ensure all are signed and correct, and keep soft copies ready for handover.
• Caretaking & Letting Agreements: Review agreements with the body corporate and top up where possible. More years generally increase value.
• Schedule of Charges: Confirm you are authorised to charge all fees. Unauthorised income may be excluded from your net profit calculation.

Why Financials Are Critical

One of the most important parts of this whole process is the financials and the numbers. While buyers will look at many aspects of your business, agreements, charges, and body corporate consent, the Adjusted Profit & Loss is the key report that underpins the value of your business. It connects directly into the sales process because your broker will market the business based on the net profit, the buyer’s accountants will verify the adjusted profit & loss, and the buyer’s bank will rely on it for finance approval.

What Is an Adjusted Profit & Loss Report and Why Is It Important?

Many sellers get confused between their Tax Profit & Loss and the Adjusted Profit & Loss. On the surface they look similar, but they serve a different purpose.

A tax Profit & Loss is prepared primarily to determine net income upon which income tax is payable. A profit & loss report prepared for tax purposes may include non-cash items (like depreciation, amortisation and provision for leave), as well as discretionary expenses that an operator may incur to facilitate their preferred work/life balance. If taxable income or net profit from a bookkeeping system profit and loss is used as the basis to determine sale price, you would likely significantly undervalue your business.

An Adjusted Profit & Loss for sale purposes is prepared to demonstrate the actual trading profit for a recent 12-month period with standard adjustments to exclude one-off and ‘discretionary’ items, including finance costs, which a purchaser could expect to replicate. It removes those one-off or discretionary items to show the true, maintainable profit of the business for a potential buyer. This report intends to demonstrate a potentially sustainable net profit of the business based on a prior period, which is the key number that buyers, brokers, and banks will use when assessing value.

These adjustments are fairly standard in the management rights industry, but the exact treatment can be complex and is often closely reviewed by buyers, brokers, and verifying accountants, so it is important to get it right and to use industry professionals familiar with the process.

Standard Adjustments May Include:

• Agents’ commission if recovered at cost
• Non-recurring and discretionary income (commissions from residential sales, one-off body corporate projects, unauthorised income, one-off refurbishment income commissions)
• Depreciation
• Finance and interest costs
• Private motor vehicle costs
• Donations
• Personal accounting fees
• Personal travel costs
• Personal manager’s unit expenses
• Capital purchases
• Filing fees
• Labour that could be performed by a competent two-person management team (note: this is highly scrutinised. You must be able to demonstrate to a verifying accountant or buyer that the workload can reasonably be managed by such a team. Any labour adjustment will be carefully reviewed.)

When preparing an Adjusted Profit & Loss, it’s not just about making adjustments. We also review the accounts and trust account information in detail to ensure the profit aligns with industry benchmarks and expectations. This gives buyers, brokers, and financiers confidence that the business is performing at a sustainable level and helps avoid challenges during financial verification.

Why Use an Industry Specialist Accountant?

It’s important that your adjusted Profit & Loss is prepared by an industry specialist accountant. They not only understand the unique benchmarks in the management rights industry, but also know the standard adjustments that should (and should not) be made. A general accountant may overlook these nuances, which can lead to either overstating or understating the net profit and ultimately affect the value of your business. Because management rights are sold as a multiple of net profit, even small differences in the adjusted profit and loss can have a major effect on the sale price.

Having an industry specialist ensures the figures are credible, defensible during financial verification, and aligned with what buyers, brokers, and banks expect.

Final Thoughts

Selling your management rights business is a big decision, and having the right people and reports in place makes all the difference. By preparing early, keeping your agreements and charges in order, and ensuring your Adjusted Profit & Loss is accurate, you will make the process smoother and maximise your business’s value. With the right guidance from an industry specialist accountant, broker, and lawyer, you can go into the sale with confidence and achieve the best outcome for your hard work.

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

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Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.

RECENT NEWS

CATEGORIES

AUTHOR

Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au