My Accounting Advantage

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This episode explores a challenge many growing business owners face: when the workload becomes overwhelming, is hiring really the right solution? Mai and Lee discuss why bringing on new staff without first understanding the root cause of the problem can create even more complexity, and how business owners can take a more strategic approach to growth.

They introduce the concept of the buyback loop, a practical framework for identifying, documenting, and delegating tasks effectively. Through real-world examples, they explain how creating systems and processes can reduce bottlenecks...

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This episode explores one of the biggest changes to SMSF property investing in recent years: the 10 August 2026 rule change and what it means for Australians looking to purchase property through their Self-Managed Super Fund.

Mai is joined by SMSF lending specialist Luke Talbot to unpack what has changed, what opportunities still remain, and how SMSF lending works in practice. Together, they discuss why residential property purchases through borrowing have been significantly impacted, why commercial property remains a key strategy for many SMSF investors, and the critical steps...

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This episode explores a growing area of interest for business owners and investors: buying property through a Self-Managed Super Fund (SMSF) and understanding the borrowing rules that come with it.

Mai and Lee break down the complexities of Limited Recourse Borrowing Arrangements (LRBAs) in plain English, explaining how SMSFs can borrow to purchase property, the structures that must be in place before signing a contract, and the common pitfalls that can derail a property strategy. They also discuss the significant changes to SMSF residential property borrowing from <...

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This episode breaks down the key tax, superannuation, and business changes following the 2026 Federal Budget. Mai Harris explains what is already law, what is still proposed, and what individuals, investors, trustees, and business owners need to know moving forward.

In this episode, they discuss:

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This episode tackles a common question for Australian homeowners: Does the six-year rule mean you can avoid Capital Gains Tax when you move out and rent your home?

Mai and Lee explain how the six-year rule really works, how it interacts with negative gearing, and the common mistakes that can lead to unexpected tax liabilities. They also discuss recent legislative changes, record-keeping requirements, and why it's important to seek advice before making property decisions.

In this episode, they discuss:

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This episode tackles a question many ambitious professionals ask themselves: If you're great at your job, does that mean you'll succeed in business?

Mai and Lee explore why many high-performing employees struggle when they start their own businesses. They discuss the mindset shift required to move from employee to business owner, the hidden costs of running a business, and why proper planning is essential before making the leap. 

In this episode, they discuss:

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Many business owners focus on the sale price when selling a business or commercial property, but one often-overlooked detail can have a significant impact on the deal: the Going Concern rules.

In this episode, Mai Harris and Lee Woodward explain what a Going Concern arrangement is, when it applies, and why getting it right can save buyers and sellers from unnecessary GST complications. From business sales to commercial property transactions, Mai breaks down the key requirements, common pitfalls, and the questions you should ask before signing a contract.

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This episode tackles one of the biggest questions business owners face: How do you sell a business and keep more of what you've worked so hard to build?

Mai and Lee are joined by local business owner, Chef Daniel, who steps into the guest seat to ask the questions many business owners are already thinking about. Together, they unpack the tax implications of selling a business, recent changes to Capital Gains Tax (CGT), the importance of planning well before an exit, and why your accountant should be...

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We unpack what makes a business genuinely saleable, and why waiting until you are fed up is a costly time to exit. We share a practical checklist for sale readiness, from clean financials and contracts to systems, leadership, and transferability that keeps value high when the owner steps away. 
• why a saleable business is the real measure of business health 
• the risk of selling from emotion rather than strategy 
• what “turnkey” looks like and why owner dependency destroys value 
• thinking beyond profit to adjacent buyers and acquisition value 
• preparing for due d...

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Many people spend years building wealth, growing a business, and chasing financial freedom without ever stopping to ask a simple question: What is it all for?

In this episode, Mai and Lee explore the connection between wealth, purpose, and goal setting. Drawing on conversations with business owners, investors, and families, Mai explains why financial success is difficult to achieve, let alone measure, if you don't have clarity around what you actually want from life.

The discussion focuses on setting meaningful goals, creating a vision for the future...

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In this episode, Mai explores one of the most common issues she sees when working with business owners: becoming the bottleneck in your own business. From delayed invoicing and cash flow problems to decision fatigue and overwhelmed teams, Mai explains how business owners can unintentionally slow down growth by trying to control every decision and task themselves.

The discussion focuses on recognising the signs that you're the bottleneck, creating systems that allow your team to take ownership, and building a business that can operate successfully without relying on you for every...

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Franking credits are one of the most valuable tax benefits available to business owners operating through a company structure. In this episode, Mai breaks down what a franking account is, how franking credits are created, and why they can play a powerful role in building and protecting long-term wealth.

The conversation also explores some of the most common business and investment structures used by Australians. With proposed changes to the taxation of family trusts on the horizon, understanding how your structure works, and whether it's still the right fit, is more...

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Most people think retirement is something to worry about later. The problem is that later arrives much faster than expected.

In this episode, Mai Harris is joined by financial planner Nicholle Shepherd to discuss why building wealth and planning for retirement should start much earlier. Together, they explore the small financial habits that can have a significant impact over time, and why creating financial freedom isn't about reaching a certain age: It's about having choices.

The conversation covers the importance of understanding your current financial position, making the most...

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Everything you thought you knew about borrowing has just changed.

In this timely episode, Mai unpacks one of the biggest shifts currently impacting property investors: what borrowing actually looks like now under the new lending rules.

Following the recent Federal Budget announcements, the landscape has changed almost overnight. Restrictions on negative gearing for existing properties and changes to how banks assess borrowing capacity are already flowing through to lenders, and the impact is immediate.

But this episode isn’t about panic. It’s about understanding what...

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With multiple obligations hitting at different times—BAS, PAYG instalments, payroll tax, super, and annual income tax—it can feel like money is constantly leaving your account. This episode cuts through that confusion and explains why it often comes down to a lack of structure, visibility, and preparation.

Mai walks through how the tax system actually works, including the difference between your income tax account and your activity statement account, and why PAYG instalments often catch business owners off guard. By understanding how these obligations are calculated and when they fall due...

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In this episode, Mai and Lee unpack a powerful mindset shift that’s impacting more business owners and homeowners than ever before, how we think about debt, and specifically, our mortgage. With rising costs and business pressures, many Australians are feeling the weight of their loans, but this episode challenges whether that stress is actually justified.

Using a real client case study, Mai breaks down how small shifts in perspective can completely change financial confidence, decision-making, and even business performance. The episode also explores how comparing the cost of debt to th...

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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’...

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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...

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In this episode, Mai and Lee unpack one of the most misunderstood areas of running a company: director’s loans. While many business owners see this account in their financials, very few truly understand how it works, or how costly it can become if handled incorrectly.

Mai breaks down what a director’s loan actually is, why it exists, and how it’s often used to record personal spending through the business. More importantly, she explains how Division 7A rules come into play, and why they’re designed to stop business owners f...

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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 u...

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In this episode, Mai and Lee explore why so many business owners feel overwhelmed as their business grows, even when everything appears successful on the outside. The issue isn’t always structure, staffing, or systems. It’s how time is being managed day‑to‑day.

Mai shares her own experience of reaching a point where growth no longer felt exciting, but instead felt heavy, reactive, and difficult to sustain. To address this, Mai introduces us to the DRIP framework: Delegate, Replace, Invest, and Produce. It’s a practi...

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As the end of the financial year approaches, superannuation remains one of the most powerful, and most commonly missed, tax planning strategies available.

In this episode of the My Accounting Advantage podcast, Mai explains how the right superannuation strategies, implemented before 30 June, can materially reduce tax while supporting long‑term wealth creation. 

She breaks down the difference between concessional and non‑concessional contributions, how salary sacrifice and top‑ups can be used strategically, and why tax savings should be viewed as a return on investment rather...

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What happens when a long-term business owner walks in feeling exhausted, overwhelmed, and ready to shut everything down?

In this episode of the My Accounting Advantage podcast, Mai Harris takes us behind the scenes of a powerful real‑life case study that highlights the impact of seeking the right advice at the right time. What began as a conversation about exiting a business became an opportunity to reduce tax, protect wealth, and rebuild confidence, saving a client $17,500 in tax in just 90 minutes, and restoring much‑needed clarity and calm.

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In this episode, Mai and Lee explore why so many investment mistakes aren’t caused by bad opportunities, but by doing things in the wrong order. From property purchases to business decisions, excitement often takes over before the right groundwork is done.

Mai introduces her SRS decision‑making framework: Structure, Risk, and Sequencing. It is a practical way to slow down, remove emotion, and make investment decisions that actually support long‑term goals. The discussion highlights how people often commit to major investments before understanding ownership structures, cash‑flow impact...

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In this episode, Lee and Mai unpack a big mindset shift for business owners and individuals alike: why paying down your home loan isn’t always the best return on investment (ROI).

They explore how ROI applies to everyday financial decisions — from mortgages and offset accounts to superannuation and long‑term wealth strategies — and challenge the common belief that throwing every spare dollar at your home loan is always the smartest move.

The conversation also dives into self‑managed super funds (SMSFs), family pooling strategies, and how super can...

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In this episode Lee and Mai take a deep dive into tax planning, business structures, and the smart (and legal) ways business owners can reduce tax, improve cash flow, and build long‑term wealth.

Following the strong response to last week’s Payday Super episode, this conversation tackles one of the most common questions business owners ask: “Am I paying too much tax?”

The answer, as Mai explains, is often yes — but not because the system is broken. It’s usually because the structure or strategy isn...

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We're back this week with a hugely important topic.

Payday Super is one of the biggest changes to hit Australian employers in years — and many businesses aren’t ready for the cash flow impact.

In this episode, Lee and Mai unpack what Payday Super actually means, why it’s a major shift from the current system, and how it could seriously affect small business cash flow if you’re not prepared.

From 1 July 2026, employers will be required to pay superannuation at the same time as wages...