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In this episode, Mai and Lee break down one of the most common misconceptions at tax time:

“If I spend money, I’ll get it all back in tax.”

With the end of financial year approaching, many business owners and individuals fall into the same trap. That is, making rushed purchases purely for a deduction, without considering the actual return.

This episode cuts through that thinking.

Mai unpacks why tax deductions don’t work the way most people assume, and why the real goal isn’t to reduce tax at all costs. It’s to make financially sound decisions that deliver a return.

From understanding your effective tax rate to making strategic investment decisions, this episode is a must-listen for anyone navigating EOFY planning.

In this episode, Mai talks about:

• How your notional (average) tax rate determines what you actually get back
• The EOFY “spending frenzy” mindset
• The $20,000 instant asset write-off threshold and when it applies
• Why buying assets you don’t need destroys cash flow and ROI
• A smarter alternative: using super contributions to reduce tax and build long-term wealth
• What deductions are most commonly missed (travel, WFH, self-education and more)
• Why record-keeping is critical to substantiating claims

Spending money for the sake of a deduction can leave you worse off. Mai encourages you to do a sense-check before any EOFY decision: “Would I do this on 1 July?”

If you're unsure what EOFY strategies actually make sense for your situation, reach out to Mai on Instagram at the_maiharris or submit your questions via the Ask Mai link at the top of the show notes.

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Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

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In this episode, Mai and Lee tackle one of the biggest questions coming out of the recent Federal Budget: what investments still make sense when the rules are changing?

There’s a lot of noise right now. Changes to the proposed 50% CGT discount, restrictions on negative gearing, and potential new minimum tax rules for trusts. It’s no surprise investors are feeling uncertain.

But this episode isn’t about fear. It’s about refocusing on what still works and how to adjust your strategy without stepping back from building wealth.

Mai breaks down what’s actually changing, what’s still available, and why the key isn’t to stop investing, but to invest smarter, with the right structure and advice.

In this episode, Mai talks about:

• The proposed removal of the 50% CGT discount and what it really means in practice
• Why a gain is still a gain, even with higher tax, and how to rethink long-term strategy
• What’s still eligible for negative gearing (including new builds and commercial property)
• The impact of proposed trust changes and why bucket company strategies may be less effective
• How double taxation could affect family trust structures under new rules
• Why SMSFs remain one of the most powerful investment vehicles (and what’s still allowed)
• How property, super, and business investments are likely to shift moving forward
• Why investing in active assets (like businesses) still provides strong CGT advantages
• How the SRS framework (Structure, Risk, Sequencing) applies to new investment decisions
• The Identify, Reallocate, Structure framework to help investors adapt quickly

This episode is a reminder that while the rules may change, wealth-building opportunities don’t disappear, they evolve.

If you’re unsure how these changes affect your current structure or future plans, now is the time to get clarity and build a strategy that works under the new rules.

You can also submit questions or topic ideas via the Ask Mai link at the top of the show notes.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.

Ask Mai & Send Feedback

In this episode, Mai and Lee break down the key announcements from the latest Federal Budget. Importantly, they explore what these changes actually mean for business owners, property investors, and everyday Australians. With headlines creating panic and confusion, this episode cuts through the noise to focus on what matters and what actions should be taken.

Mai walks through the three major proposed changes dominating the conversation: the removal of the 50% Capital Gains Tax (CGT) discount, changes to negative gearing, and new rules around the taxation of family trusts.

Mai unpacks how negative gearing currently works, why many “investors” are actually everyday Australians taking on risk, and what removing these incentives could mean for housing supply, rental prices, and borrowing capacity. The conversation also explores how these changes may affect younger Australians trying to enter the market, and why the proposed reforms could have broader economic consequences beyond tax.

In this episode, Mai talks about:

• The proposed removal of the 50% CGT discount and shift to indexation
• How negative gearing currently works and why it exists
• What the changes mean for everyday property owners (not just “investors”)
• How borrowing capacity may be reduced without negative gearing benefits
• Why first-home buyers could be indirectly affected
• The proposed changes to family trust taxation and how income distribution may shift
• How these reforms could impact small business structures and cash flow flexibility
• Why policy changes like these can influence long-term investment decisions

This episode is a timely reminder that not all headlines tell the full story. Before making any decisions, it’s critical to understand how proposed changes apply to your specific situation. If you’d like help understanding how these proposed changes may affect you, reach out to our team or speak with your accountant before taking action.

You can also submit questions or topic ideas via the Ask Mai link at the top of the show notes.

Learn more about My Accounting Advantage

Disclaimer

The advice contained in this presentation is general in nature only and should not be acted on without first seeking professional advice.

Your personal circumstances have not been taken into account, and you should consider the appropriateness of the advice to your individual needs.