Geoff Gartly CA SMSF

About Geoff Gartly

Geoff Gartly CA is an experienced Australian chartered accountant and business adviser who works with small business owners, families and individuals on practical tax, accounting, structuring and advisory issues. Through Gartly Advisory, he focuses on helping clients understand their numbers, make better business decisions, manage compliance obligations, and plan ahead with confidence. His work often sits at the intersection of tax, business improvement, succession, SMSFs, estate planning and asset protection. Geoff’s style is practical and plain-English: he aims to turn complex financial and tax matters into clear options, so clients can make informed decisions about their business, wealth and future.

Downsizer contribution eligibility to be lowered to age 55

By Geoff Gartly|2024-02-19T16:28:18+11:0008/08/2022|Categories: Estate Planning, News & Updates, SMSF (Self-Managed Super Fund)|Tags: contributions, super, superannuation|

The downsizer contribution is an after-tax contribution. Therefore when it hits your SMSF or super fund, no tax is payable on the way in. It also means upon retirement, and it can be paid as a benefit. A benefit that is returned tax-free when you withdraw the funds from your SMSF Legislation passed Last week parliament passed legislation, resulting in the downsizer contribution to allow house owners over the age of 55 to access this strategy. The lowering to age 55 is expected date for the enactment would be later this year (2022) Downsizer contributions help you to increase your [...] READ MORE

What to do when a loved one dies?

By Geoff Gartly|2024-02-19T16:34:39+11:0001/08/2022|Categories: Accounting & Business Insights|

Join Geoff as he explains in simple terms what to do to finalise the taxation affairs of a loved one after they have died. Our youtube video outlines some of the steps that you as the executor may need to undertake. We welcome you to contact us further on 95979966 if we can assist you. https://youtu.be/Ike688p601A

Small business cashflow
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Small business cashflow

Accounting & Business Insights, Business Growth & Scaling, Small Business Accounting Services

Small business cashflow

By Geoff Gartly|2025-10-02T17:17:06+10:0026/07/2022|Categories: Accounting & Business Insights, Business Growth & Scaling, Small Business Accounting Services|Tags: cashflow, small business|

Small business cashflow is so important. This is highlighted in this week's Accoutantsdaily article about cash flow. What's highlighted is an enormous gap for many small businesses. The last 2 years have highlighted major issues for small businesses and cash flow is one on top of the list. Small businesses have been plagued by closures and staff absenteeism due to Covid. This can account for why some businesses' cash flow is facing an uphill battle in recovery. But there is also a fundament lack of planning by some small businesses. Not knowing where you going is like a hose [...] READ MORE

Am I a share trader for tax purposes?
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Am I a share trader for tax purposes?

Accounting & Business Insights, Taxation & Tax Advice

Am I a share trader for tax purposes?

By Geoff Gartly|2022-06-10T06:54:15+10:0010/06/2022|Categories: Accounting & Business Insights, Taxation & Tax Advice|

A Share trader is regarded by the ATO as conducting a share trading business when it comes to reporting your tax, based on factors around how you and how often you invest. An investor is looking long term and will not frequently undertake a systematic approach. Tax law regards Share trading is assessed as income on a Revenue Account, and no Capital Gains Discount can be claimed. Share traders and tax However good news for share traders is, share losses are allowed as a tax deduction un S8-1 of the ITA997. A share trader can recognize unrealized losses and gains [...] READ MORE

Local manufacturing in Moorabbin and Dandenong South
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Local manufacturing in Moorabbin and Dandenong South

Accounting & Business Insights, Business Growth & Scaling

Local manufacturing in Moorabbin and Dandenong South

By Geoff Gartly|2025-12-12T16:16:19+11:0003/06/2022|Categories: Accounting & Business Insights, Business Growth & Scaling|Tags: manufacturing, small business|

Local Manufacturing Tax help for Melbourne’s South East Local manufacturing businesses based in Melbourne’s South East, particularly Moorabbin, Dandenong South, Carrum Downs and Seaford, can take advantage of valuable tax incentives to boost productivity and modernise their operations. Bringing forward tax incentives is one of the most effective ways for manufacturers in Moorabbin and Dandenong South to upgrade equipment, improve efficiency and support long-term growth. Helping Local Manufacturing Businesses Thrive Gartly Advisory, Melbourne accountants based in Ormond, specialise in supporting local manufacturing businesses in the South East suburbs. We love working with manufacturers, and our advice is simple: use the [...] READ MORE

Builders and developers face uncertain times
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Builders and developers face uncertain times

Accounting & Business Insights

Builders and developers face uncertain times

By Geoff Gartly|2022-05-27T02:06:20+10:0027/05/2022|Categories: Accounting & Business Insights|

Tread carefully in the coming months when planning your property development or if you are a supplier in the building construction industry Property development is rewarding except in times of uncertainty. Unfortunately, we are now facing one of those uncertain times. The last two years of working through Covid and lockdowns are impacting the construction industry. We are now seeing significant building players over the last few months into liquidation or closing. This indicates that it is the start of what may well be a tough few years ahead. Many of our clients are commenting on what they feel is [...] READ MORE

Business Ratios for a healthy small business
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Business Ratios for a healthy small business

Growth Tools for Small Business

Business Ratios for a healthy small business

By Geoff Gartly|2022-04-22T03:05:12+10:0022/04/2022|Categories: Growth Tools for Small Business|Tags: business health, growth, ratios|

Business ratios that measure your small business Six Power Ratios to Start Tracking Now in your small business These six power ratios are designed to measure the heart of your small businessDoctors monitor the health of humans, why not measure and plot the health of your business. These powerful ratios help you track how healthy and well your business is going.Better than the blunt measuring stick of an aggregate number, a ratio expresses the relationship between two numbers, which gives them their power.If you’re planning to sell your company one day, here’s a list of six ratios to start tracking in your [...] READ MORE

When is a home exempt from CGT
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When is a home exempt from CGT

Accounting & Business Insights, Taxation & Tax Advice

When is a home exempt from CGT

By Geoff Gartly|2024-02-20T16:12:36+11:0020/04/2022|Categories: Accounting & Business Insights, Taxation & Tax Advice|Tags: cgt, cgtexemption, home|

Your home can be exempt from CGT providing it is your castle. You need to do a few things to make sure it meets the ATO The ATO considers several factors when determining if a dwelling is considered a client’s main residence. Various tests in relation to different factors to determine to see if you meet this test as your home. This may vary depending on the circumstances and it may be several factors. What makes a home regarded as your home and makes your home exempt from CGT? The main residence test for a dwelling is based on facts [...] READ MORE

Acting as an SMSF Trustee and incapacity!
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Acting as an SMSF Trustee and incapacity!

Estate Planning, SMSF (Self-Managed Super Fund)

Acting as an SMSF Trustee and incapacity!

By Geoff Gartly|2024-09-28T14:42:04+10:0015/04/2022|Categories: Estate Planning, SMSF (Self-Managed Super Fund)|Tags: POA, SMSF trustee, Trustee|

SMSF Trustee role needs to be considered in your Estate planning Acting as a SMSF Trustee and incapacity are crucial issues to consider in running an SMSF. Have you considered what happens when something goes wrong, and you in a position to run your SMSF? Control is one of the main reasons many establish an SMSF. As an SMSF Trustee, you can control your own SMSF. You as the SMSF Trustee and member can control how the Funds' investments and the strategy on how and where. What happens if you can't do it anymore? What happens if things go [...] READ MORE

Your’e Net Promotor Score
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Your’e Net Promotor Score

Accounting & Business Insights

Your’e Net Promotor Score

By Geoff Gartly|2022-04-14T22:45:10+10:0014/04/2022|Categories: Accounting & Business Insights|Tags: measuring|

Measuring the love in your business - youre Net Promotor Score What is your net promoter score, and why is it essential in building value to your business?Your Net Promoter Score, NPS affectionately referred to, is one of the most effective ways to uncover how satisfied and loyal customers are to your brand, product, or service. It's a great start towards adding creditability towards a future business sale and the love for your businessA good net promotor score is derived from detractors vs promotors.Promotors are those customers who "love "you, and Detractors are those who are just friends or not in love [...] READ MORE

Business exit planning for couples
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Business exit planning for couples

Accounting & Business Insights, Exit plan

Business exit planning for couples

By Geoff Gartly|2022-04-14T22:37:54+10:0014/04/2022|Categories: Accounting & Business Insights, Exit plan|Tags: couples, exit plan|

Business Exit planning for couples is an exciting opportunity but it needs to get it right. Working as a romantic couple brings pleasure, frustration, and opportunity rolled up into one package. When a romantic couple that can work together in a business bet it right their business booms. It ll comes together it's a special relationship that can build a business Planning the exit from your business as a couple is essential to get it right. Both partners are on a journey on their own life paths. Working together often can mean spending 24/ seven together. That's a big ask [...] READ MORE

Customer Discounting for a trade business leads to profit leaks

By Geoff Gartly|2024-02-20T16:31:16+11:0002/04/2022|Categories: Accounting & Business Insights, Business Growth & Scaling|Tags: discount, small business, tradie|

Discounting leads to disaster for small business trade who discount to get work

Weekly Newsletter March 31st
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Weekly Newsletter March 31st

Accounting & Business Insights, News & Updates

Weekly Newsletter March 31st

By Geoff Gartly|2022-03-31T07:16:00+11:0031/03/2022|Categories: Accounting & Business Insights, News & Updates|Tags: federal budget, small business, taxes|

The Federal Budget 2022 Here is our quick summary of the Federal Budget handed down on Tuesday. The Budget focused on keeping business and the economy going during uncertain times. It would be also be drafted with a focus on the following Federal Elellection due soon. Media reports indicate that if there is a change of Government, the ALP will publish a newly revised budget in July or August this year, which may not result in all initiatives etc., being fulfilled or modified. Here are the critical points that we believe will impact our clients:• 120 % tax deductions for [...] READ MORE

Weekly newsletter
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Weekly newsletter

Accounting & Business Insights, News & Updates

Weekly newsletter

By Geoff Gartly|2022-03-24T23:29:02+11:0024/03/2022|Categories: Accounting & Business Insights, News & Updates|

Insolvency – Worrells Liquidation observations Despite the last 2 years being a rocky road for small businesses in Australia, liquidations and actions by the ATO have been very low. Yesterday I attended the Worrells Solvency seminar on the current state of play. Here is a quick summary: The ATO has been quiet over the last 2 years about debt recovery, but soon the sleeping giant will awake!Jobkeeper forced many taxpayers to get their lodgments up to date, so the ATO is aware of who owes what,ATO debt is sitting at $61 billion outstanding. That’s a lot to collect expected that [...] READ MORE

Car logbook and my car expenses deduction

By Geoff Gartly|2024-02-20T16:55:22+11:0022/03/2022|Categories: Accounting & Business Insights, Taxation & Tax Advice|

You must only claim motor vehicle expenses relating to work travel and we recommend a logbook will substantiate your claim. To substantiate car expenses the ATO requires that you keep a car logbook or use the 20% statutory method. The car logbook is used to justify your motor vehicle claim. Types of expenses Common types of motor vehicle expenses you can claim include: fuel repairs and servicing interest on HP, lease payments, insurances or VIC roads registration and depreciation of your vehicle Per ATO here is what you must do for the operating or logbook method Logbook method You can [...] READ MORE

Claiming occupancy expenses if your home business and cgt.
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Claiming occupancy expenses if your home business and cgt.

Accounting & Business Insights, Taxation & Tax Advice

Claiming occupancy expenses if your home business and cgt.

By Geoff Gartly|2022-02-21T21:03:18+11:0021/02/2022|Categories: Accounting & Business Insights, Taxation & Tax Advice|

The implications of your home business and cgt needs to be considered if your home is regarded as a place of business. Typically many small businesses operate their business out of the home. Especially since the onset of covid. Occupancy expenses you can claim In this case, then you are entitled to claim home occupancy expenses if you are running a business. If you use some or all of your business from your home, you may be able to claim tax deductions for home-based business expenses in the following categories: occupancy expenses (such as mortgage interest or rent, council rates, [...] READ MORE

What helps increase your motel occupancy rate and keeps your customers coming back to your accommodation business?

By Geoff Gartly|2024-02-20T16:51:20+11:0015/02/2022|Categories: Accounting & Business Insights, Business Growth & Scaling|Tags: motel|

Motel Occupancy rates are a good indication of the profitability of your accommodation business. What brings back your customers? Why do some accommodation providers have high occupancy rates and some don't? In the seventies, it was “free colour tv ” now it is “free wifi” to add that little extra to attract the customer. All small businesses need a point of difference to attract customers and retain their competitive edge. With the advent of online reviews and social media, it's important to keep your accommodation business inviting at all times. A bad review impacts your online chances of securing a [...] READ MORE

Understanding job profit on my last job?
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Understanding job profit on my last job?

Accounting & Business Insights, Business Growth & Scaling

Understanding job profit on my last job?

By Geoff Gartly|2022-02-09T00:07:16+11:0009/02/2022|Categories: Accounting & Business Insights, Business Growth & Scaling|

Making job profit on every job is important to make a profit and cover your business overheads and administration. In the world of Building and Construction, there are many types of tradespersons who operate small businesses in Australia. Some people are great trades person but not always running a business. Amongst the construction industry, there are those who can run a successful business, those that can make a living but not much else and those that lose money and should not be self-employed! Making a profit is an art and takes some understanding of your trade, what the market will [...] READ MORE

Rental expenses claim. Keeping the ATO happy

By Geoff Gartly|2024-02-27T15:37:58+11:0004/02/2022|Categories: Accounting & Business Insights, Business & Accounting Insights, Taxation & Tax Advice|Tags: negative gearing, private use, rental expenses, tax deduction|

Are you claiming rental expenses that might relate to the private use of your rental property? The ATO has indicated that they intend to review taxpayers who have rental properties. Who’s on the title is important! When declaring the property. The ATO will be looking for the persons whose name is on the title to declare the net rental income or loss. This also goes for the eventual gain when sold. Many think that if they share in the loan liability that this is sufficient. The truth is it is entirely based on ownership and title details. Beware of the [...] READ MORE

Can my Company pay a Franked Dividend?

By Geoff Gartly|2025-08-25T21:31:29+10:0001/02/2022|Categories: Accounting & Business Insights, Business Growth & Scaling, Taxation & Tax Advice|Tags: Franked Dividends, Profits, shareholder, tax|

Franked Dividends pay the shareholder a dividend and credit some of the tax paid by the Company. This is called franking and is transferring the tax as a credit when the Company pays Profit to shareholders and ensures that the tax paid is passed onto the shareholders. Running your own Company will mean that, as a shareholder, you will want to access these profits. This is done as a Dividend. A dividend can only be paid to Shareholders when the company has retained earnings and is solvent. Meaning that the company can pay its debts at the time of paying [...] READ MORE

New business startup what to do!

By Geoff Gartly|2024-02-27T15:32:09+11:0030/01/2022|Categories: Accounting & Business Insights, Business Growth & Scaling|Tags: small business, starting out, startup|

Starting out in a new business and being your small business startup journey I remember many years ago how exciting it was to begin the small business journey. It has been a journey twenty years later that's is full of ups and downs, fun and pain and plenty of laughs. Twenty years in and I have no regrets. In fact, anyone that can do it, should. Yes like all of us I have made some dumb decisions but I don't have any regrets? No way, in fact, I have also made some good decisions too. There have been a lot [...] READ MORE

What happens to my business when I die?
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What happens to my business when I die?

Accounting & Business Insights, Estate Planning

What happens to my business when I die?

By Geoff Gartly|2024-02-27T15:44:12+11:0029/01/2022|Categories: Accounting & Business Insights, Estate Planning|Tags: die, small business, sole trader|

When I die what happens to my business and my affairs? Will my business continue or just stop? If you were running as a sole trader and you die, in most cases, your legal personal representative will step in . It is their role to manage your business. They can assess if the business needs to be wound up, sold or transferred to a beneficiary. Your business asset forms part of the assets of the estate. Therefore legally executed will , can help give certainty to your wishes. Many clients are unsure of the process of what happens once they [...] READ MORE

Brighton Accountants
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Brighton Accountants

Small Business Accounting Services

Brighton Accountants

By Geoff Gartly|2024-02-27T15:47:15+11:0027/01/2022|Categories: Small Business Accounting Services|

Brighton (3186) accountants are here to help based in Ormond! Gartly Advisory are Accountants based in Ormond, Melbourne. While we are not based in Brighton 3186, many of our clients are! Accountants that help Brighton Small business You need a professional Chartered Accountants group that will offer you a professional quality service to assist you and your business to grow. Our clients are based all around Melbourne and we have a great selection of clients based in Brighton. Also, we have clients located in the nearby Bayside suburbs. Clients love our service because the team at Gartly Advisory ensures that we provide [...] READ MORE

A smart Cashflow Strategy will generate better business profits!
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A smart Cashflow Strategy will generate better business profits!

Accounting & Business Insights, Business Growth & Scaling

A smart Cashflow Strategy will generate better business profits!

By Geoff Gartly|2022-05-07T04:21:37+10:0027/01/2022|Categories: Accounting & Business Insights, Business Growth & Scaling|Tags: bank fees, cashflow, profit, small business|

For many businesses, cash flow is an issue that holds the business back. But, unfortunately, there never seems like there is never enough cash when you need it. With Christmas around the corner, it’s time to plan. Naturally, a business owner will not want to reduce their cash balance unnecessarily at this time. But, on the other hand, an increase in cash into the business can make life easier and lower the cost of financing. Moreover, squiring the money now can pay dividends in the post-festive month of January. How to reduce cashflow leaks To help you preserve or increase [...] READ MORE