The Holistic Accountant
A holistic accountant goes beyond tax returns, aiming to offer proactive advice to maximise clients' wealth after all taxes. Stuart Wemyss and Mena Abraham explore multifaceted considerations weekly, highlighting the need for a holistic approach. Each episode is succinct and to the point with no fluff or sales pitches. For further details, check out www.prosolution.com.au.
Episodes
In this episode, Stuart and Mena shift the focus to young entrepreneurs, those building businesses but wondering how to build wealth beyond them. It’s easy to pour everything into your business when it feels like your best asset. But what happens if growth slows down or plans change? The biggest risk for entrepreneurs is having all their wealth tied to a single venture. That’s why this episode is packed with the right...
In this episode, Stuart and Mena break down one of the most generous tax perks currently available to employees and employers alike: the Fringe Benefits Tax (FBT) exemption for electric vehicles. With so few genuine “free kicks” in the tax system, understanding how to maximise this benefit is essential for anyone considering a new car or looking to enhance employee compensation packages.
Mena begins by outlining the el...
In this episode, Stuart and Mena uncover the most common accounting errors that can quietly cost business owners thousands in tax, compliance issues, or poor financial decisions. They begin by highlighting why your accountant plays a critical role as your de facto CFO, and how to spot red flags if things aren’t quite right. One of the biggest warning signs? A bank reconciliation that doesn’t match your records. Mena e...
In this episode, Stuart and Mena take a deep dive into the world of small-scale property development, highlighting both the potential rewards and the very real risks involved. Off the back of recent episodes about property spruikers selling uneconomical "development sites," they clarify what genuine small-scale development looks like, who it's suited to, and where it fits into a broader investment strat...
In this follow-up episode on succession planning, Stuart and Mena explore the second path: selling your business to an external buyer. Unlike a transition strategy, this approach involves a clean break, often preferred by owners seeking speed, lifestyle change, risk reduction, or when no internal successors are available. Mena begins by outlining the different types of buyers: strategic buyers (such as competitors loo...
In this episode, Stuart and Mena kick off their new series on succession planning by exploring the transition pathway, where ownership and leadership of a business are progressively handed over to internal staff or family members. Stuart begins by defining what a transition strategy is and why it matters, highlighting how it can preserve a business’s legacy, protect its culture, and ensure continuity for clients and t...
In this episode, Stuart and Mena unpack the three essential pillars of building a successful, scalable, and sustainable business: profit margin, distribution, and demand. They begin by breaking down profit margins, exploring what makes them sustainable, and how they impact your ability to attract talent and quality inputs. Additionally, they explain why every business owner must understand whether they’re a price make...
In this practical and info-packed episode, Stuart and Mena demystify Business Activity Statements (BAS) for business owners, sole traders, and anyone new to GST and tax reporting. They begin by explaining what a BAS is, who needs to lodge one, and how often, depending on business turnover. You’ll learn when you’re legally required to register for GST (hint: it’s not just at EOFY), how to register correctly, and the di...
In this episode, Stuart and Mena explore one of the most common and misunderstood questions business owners face: how to tax-effectively get money into and out of a company. Whether you’re starting a business, investing in one, or managing retained profits, understanding the right structure from the outset can save you from costly mistakes later on.
They walk through the key ways to fund a company, either by loaning mo...
In this episode, Stuart and Mena take a deep dive into one of the biggest and often most misunderstood taxes investors face, Capital Gains Tax (CGT). Whether you're dealing with property, shares, or business assets, they explain why the smartest CGT strategies begin not at the point of sale, but before you even buy the asset.
They start by breaking down how CGT works, who gets the 50% discount, and why holding str...
In this episode, Mena and Stuart take a close look at the pros and cons of purchasing a franchise and whether it’s truly the right path for aspiring business owners. They break down why buying into an established brand can fast-track revenue, provide a proven business model, and offer ongoing support in areas like training, marketing, and supply chain management. Stuart explains how franchises can simplify access to f...
In this episode, Mena and Stuart unpack the ins and outs of Australia’s often misunderstood 6-year CGT exemption rule for main residences. They explore how this powerful tax concession can help homeowners maximise profits when selling a property they no longer live in, particularly those who rent it out after moving. Listeners will learn the exact eligibility criteria, including how to ensure a property still qualifie...
In this episode, Mena and Stuart dive into Australia’s complex tax system, using insights from a thought-provoking discussion paper by Matt Grudnoff of The Australia Institute. He examines how, when welfare and superannuation are factored in, Australia’s reliance on income tax may not be as unbalanced as critics claim. Still, Stuart raises the question: What could a more common-sense approach to tax reform look like?
H...
In this episode, Mena and Stuart share practical strategies to streamline tax administration and reduce headaches for individuals and investors. They begin by discussing the value of using Xero, even for non-trading entities, as a powerful tool to centralise and simplify record-keeping. Next, they explore the benefits of wrap platforms for managing shares and investments, including consolidated reporting and time savi...
In this episode, Mena and Stuart unpack the latest tax updates for the 2025–26 financial year, helping listeners navigate changes that could impact their personal finances and business planning. They kick off with the Super Guarantee (SG) increase to 12%, highlighting what this means for employers and employees alike. Next, they discuss the end of deductions for ATO interest charges, a significant shift that removes t...
In this episode, Mena and Stuart explore whether making additional super contributions in your 30s and 40s is a smart tax planning move or a potential limitation on your financial flexibility. They break down the compelling benefits of contributing extra to your superannuation, including tax savings of up to 30% for high earners, the power of compounding over decades, and the ability to carry forward unused concession...
In this episode, Mena and Stuart delve into the critical considerations for Australian business owners when creating a will. They unpack how your business structure, whether sole trader, partnership, company, or trust, determines what can be passed on and how. The duo explores the importance of aligning your business succession plan with your personal estate plan, from identifying future leadership to leveraging buy-s...
Using a corporate beneficiary, commonly called a bucket company, is a smart move for many trust structures, particularly when tax efficiency and asset protection are key goals. But as Stuart and Mena explain in this episode, setting one up requires more than just ticking a box.
They dive into the purpose behind corporate beneficiaries, including how they help defer tax, protect assets, and support reinvestment strategi...
This week, the mic flips! Mena takes the lead and interviews Stuart about the biggest lessons he’s learned in nearly 25 years of running a business. From the importance of focusing on internal resilience rather than external noise, to the three critical pillars—people, systems, and product—Stuart shares the wins, mistakes, and mindset shifts that have shaped his entrepreneurial journey.
They discuss why knowing your nu...
Buying or partnering with a business isn’t just a numbers game. In this comprehensive episode, Stuart and Mena unpack the often-overlooked non-financial considerations that can make or break a deal.
From strategic alignment and cultural fit to customer base stability, employee morale, operational systems, and intellectual property—this episode guides you through the full landscape of due diligence beyond the balance sh...
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