Reckon Blog

News and insights for small businesses

Get the latest industry news, including top tips from accounting and small business experts.
pricing strategy header

Follow our social media

Happy New Year 2026 ๐Ÿฅ‚ ๐ŸŽ‰ ๐Ÿชฉ Wishing everyone a peaceful and prosperous year! โ  โ  Weโ€™ve got some exciting projects coming up this year, so stay tuned for more, and follow for small business tips ๐Ÿ”ฅโ 
Happy Holidays from the Reckon team! Wishing everyone peace, rest, and joy ๐Ÿซถ
If the ATO holds your BAS refund for review, it doesnโ€™t automatically mean youโ€™re in trouble! ๐Ÿ˜ฐโ  โ  Your BAS (Business Activity Statement) tracks the GST you earn/pay while doing business ๐Ÿ’ธ If you paid more GST on inventory than you earned in sales, you could get a refund in GST credits. โ  โ  Most refunds get processed without any issues ๐Ÿ’ž But every year, the ATO selects a small number to hold back while they double-check all the details. This might be because:โ  ๐Ÿค” The refund is larger than usualโ  ๐Ÿ‘€ You changed the way you report/track GSTโ  ๐Ÿค– The data-matching robot flagged it automaticallyโ  โ  While checking your refund total, the ATO may ask for supporting documentation like receipts, bank statements, or tax invoices ๐Ÿงพ They get a lot of GST fraud, so itโ€™s just due diligence โœ… โ  โ  If your BAS refund gets held up, as of 1 July 2025, the ATO must notify you within 30 days (and pay interest on legitimate refunds held for more than 14 days). Talk to a bookkeeper, accountant, or tax advisor if you have concerns about your held refund.โ  โ  Link in bio for how to lodge your BAS ๐Ÿ”— โœจ
๐Ÿ‘๏ธ๐Ÿ‘„๐Ÿ‘๏ธ I did a bookkeep
Shop small โค๏ธ (But also plan ahead)โ  โ  Buying holiday gifts from small businesses is a fantastic way to support them ๐Ÿ’ธ But the holiday season is busy for them, too! And they donโ€™t have the same luxuries as big businesses, like extra staff or huge piles of stock. โ  โ  So plan ahead with your holiday shopping ๐Ÿซถ Itโ€™ll save you (and them!) a bunch of stress, and you can relax knowing you gave your business to someone who truly values it! โœจ
Shop small this holiday season ๐Ÿซถ โœจโ  โ  Small businesses make up 97% of all businesses in Australia โ€” yet most money gets spent with massive companies ๐Ÿ˜ฑ (We wonโ€™t name names, but you know who they are ๐Ÿ˜ณ)โ  โ  So instead of going to a big chain store or ordering online, shop small ๐Ÿ›๏ธ Advantages can include: โ  ๐Ÿ™Œ Handmade products built to LASTโ  ๐Ÿ˜ฏ Custom goods or services designed for YOUโ  ๐Ÿ’ธ Way better VALUEโ  ๐ŸŒฟ Smaller carbon footprint on the ENVIRONMENTโ  ๐Ÿฅฐ Gratitude from someone who actually VALUES your business!โ  โ  Not all small businesses are created equal, but thereโ€™s something out there for everyone. Happy shopping ๐Ÿ˜Š
Setting your own hours DOES NOT mean every dayโ€™s a holiday ๐Ÿ’€ ๐Ÿ’€ ๐Ÿ’€โ  โ  Freelancers have a lot to juggle ๐Ÿ˜ฉ Thatโ€™s because sole traders are still *businesses*. And that means itโ€™s up to them to:โ  ๐Ÿฆ File their taxes correctly and on timeโ  ๐Ÿ’ธ Find reliable sources of income (customers, projects, etc.)โ  ๐Ÿ—“๏ธ Work enough hours while balancing life commitmentsโ  โœ… Stay compliant for things like GST and BAS lodgementsโ  ๐Ÿง“ Contribute to their own superannuation fundsโ  ๐Ÿ“ฃ Market themselves wellโ  ๐Ÿƒ Compete with bigger businesses that have WAY MORE resourcesโ  โšฐ๏ธ So much moreโ  โ  Thatโ€™s a lot! Some tools, like accounting or invoicing software, make it easier to handle, and consultants such as bookkeepers or tax advisors can help ๐Ÿค But give the freelancer in your life more credit! Theyโ€™re secretly a badass. โ  โ  Link in bio for sole trader tips ๐Ÿ”— โœจ

Latest Newsย 

Latest Insights

Latest Product Updates

Trending on Reckon