Business closures and director penalty notices are hitting record highs across Australia. If you've missed a BAS lodgement or you're dreading a red letter from the ATO, you're not alone. Jase deals with this every week at Future Advisory. Today he covers what a Director Penalty Notice actually means, the rescue options like a Small Business Restructure that most owners don't know exist, and the one lodgement habit that keeps them all on the table.

On this episode, we discuss:

(00:00) Intro
(02:55) Why Two Franks Cafe closed despite the queue
(07:04) How Prime drink collapsed owing $8 million
(10:00) Director Penalty Notices, up 136% in a year
(12:01) What triggers a Director Penalty Notice
(15:37) Why to lodge on time even without paying
(18:06) Inside a Small Business Restructure
(19:19) How an SBR proposal works with the ATO
(22:25) What Voluntary Administration actually involves
(24:51) Straight liquidation and what gets clawed back
(30:29) What actually happens if you go bankrupt
(32:41) The income threshold during bankruptcy

Check out the free resources from Inovayt here.

Send us an email: hello@thenumbersgamepodcast.com.au

The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson

This podcast is produced by VIDPOD.

Check out our new website thenumbersgamepodcast.com.au. Browse the full show catalogue, jump straight to specific moments on the topics you love, or leave us a voice note.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Most people try to work out how much they need to retire before they've worked out what they actually want retirement to look like. It's no wonder, when you're constantly hearing you need $2 million or some other massive number to retire. For a lot of Aussies, that turns retirement into something they'd rather not think about. Today Nick walks through how to work out what enough actually looks like for you, and why once you do, most Aussies find they're already further along than they think.

On this episode, we discuss:

(00:00) Intro
(01:32) Nick's "enough" framework for retirement
(04:00) Why most people start retirement wrong
(05:08) Picturing your ideal retirement
(06:20) Ask what makes you happy first
(06:53) What fills your day at 65?
(10:29) Attaching numbers to what you want
(11:47) Real cost of a comfortable retirement
(13:05) Super figures for a $100K retirement
(14:57) Compound returns doing the heavy lifting
(15:31) When the pension kicks in
(17:36) Downsizer move that boosts your super
(19:00) What if you live past 92?
(21:25) Getting serious at 40 vs 55
(22:33) $2 million myth vs the real number
(23:39) The bell curve, why you're not behind

Check out the free resources from Inovayt here.

Send us an email: hello@thenumbersgamepodcast.com.au

The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson

This podcast is produced by VIDPOD.

Check out our new website thenumbersgamepodcast.com.au. Browse the full show catalogue, jump straight to specific moments on the topics you love, or leave us a voice note.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

If you run a company, the money in it might feel like yours, but the ATO doesn't always see it that way. Just ask the plumber who took a million out of his business, missed one piece of paperwork, and lost $470,000 to tax. Today we walk through what he did, the rule that caught him out, and what every business owner needs to know before touching company money.

On this episode, we discuss:

(00:00) Intro
(00:20) A plumber, a million dollars, and one costly mistake
(01:33) Inside the Battaglia tribunal case
(02:31) $1M taken, $470K lost to tax
(04:11) Bucket company owners, this affects you
(05:21) Why the ATO's penalty stings more than the tax
(07:00) What the ATO now checks on your tax return
(08:32) Accountant or business owner, who carries the blame?
(10:44) Doing it properly: the right way to use company money
(12:14) Big bucket company changes coming July 2028
(13:29) Real reasons business owners take these loans
(15:43) Lodgement date, the deadline that trips people up
(18:35) Restructure gone wrong, another $470K down
(21:39) Three tests to stay on the ATO's good side

Check out the free resources from Inovayt here.

Send us an email: hello@thenumbersgamepodcast.com.au

The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson

This podcast is produced by VIDPOD.

Check out our new website thenumbersgamepodcast.com.au. Browse the full show catalogue, jump straight to specific moments on the topics you love, or leave us a voice note.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.