My Accounting Advantage

Mai Harris
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My Accounting Advantage is a practical, no‑fluff podcast for business owners, professionals, and property investors who want to make smarter financial decisions with confidence. Hosted by Mai Harris, Principal Accountant and business advisor with over 25 years of real‑world experience, the podcast breaks down accounting, tax, superannuation, and cash‑flow strategies in plain English without the jargon, overwhelm, or “one‑size‑fits‑all” advice. IG: www.instagram.com/the_maiharris/ Facebook: www.facebook.com/profile.php?id=61587008353108 Linkedin: www.linkedin.com/in/mai-harris-4a4698375/ Web: www.myaccountingadvantage.com.au/

  1. 5 days ago

    Three Bank Accounts Can Keep Your Tax Bills Under Control

    Ask Mai & Send Feedback 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, the pressure quickly becomes more manageable. The episode also focuses on practical systems business owners can implement immediately to stay in control, without the stress of scrambling for cash each quarter. In this episode, Mai talks about: The difference between your income tax account and activity statement accountHow PAYG instalments work as a prepayment of your annual tax liabilityThe importance of setting up a dedicated tax account to manage obligationsHow to structure three key accounts: trading, tax, and cash reservesWhy setting aside GST, company tax and super reserves is criticalHow a simple weekly or recurring transfer system can remove end-of-quarter stressWhy reviewing your profit and loss regularly improves visibility and controlThis episode is a reminder that paying tax is often a sign your business is performing, but without the right systems in place, it can quickly feel overwhelming.  If you’d like help setting this up for your business or understanding your tax obligations, reach out to our team at www.myaccountingadvantage.com.au. 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.

    15 min

  2. 17 Jun

    Your Mortgage Is Not A Monster

    Ask Mai & Send Feedback 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 the true cost of living without it can provide much-needed clarity. In this episode, Mai talks about: The importance of reframing your mortgage from a burden to a wealth-building toolHow to compare the true cost of debt versus renting or living without owning propertyHow offset accounts work and how they reduce interest while maintaining flexibilityWhy mindset plays a critical role in financial decision-making and performanceUsing equity in your home to debt-finance investment opportunitiesIf you’d like help understanding how your current debt structure is working for or against you, reach out to our team or speak with your accountant for tailored advice. 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.

    11 min

  3. 10 Jun

    Tax Saved Is Not Money Made

    Ask Mai & Send Feedback 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 backThe EOFY “spending frenzy” mindsetThe $20,000 instant asset write-off threshold and when it appliesWhy buying assets you don’t need destroys cash flow and ROIA smarter alternative: using super contributions to reduce tax and build long-term wealthWhat deductions are most commonly missed (travel, WFH, self-education and more)Why record-keeping is critical to substantiating claimsSpending 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. 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.

    15 min

  4. 3 Jun

    Tax-Effective Investing After The Budget

    Ask Mai & Send Feedback 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 practiceWhy a gain is still a gain, even with higher tax, and how to rethink long-term strategyWhat’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 effectiveHow double taxation could affect family trust structures under new rulesWhy 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 forwardWhy investing in active assets (like businesses) still provides strong CGT advantagesHow the SRS framework (Structure, Risk, Sequencing) applies to new investment decisionsThe Identify, Reallocate, Structure framework to help investors adapt quicklyThis 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.

    22 min

  5. 27 May

    What The Federal Budget Means For Landlords And Small Business

    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 decisionsThis 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.

    18 min

  6. 27 May

    Directors’ Loans Explained

    Ask Mai & Send Feedback 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 from accessing company funds without paying the right amount of tax. In this episode, Mai talks about: The purpose of a director’s loan and why it appears in your accounts How Division 7A applies to money taken from your company What happens when a director’s loan becomes a deemed dividend How unpaid balances can significantly increase your personal tax liability Why treating your business like a personal ATM creates problems When and how you can use a director’s loan to manage short-term cash flow What a Division 7A loan agreement is and when it should be put in place How to structure your income (wages vs drawings) to manage tax effectively Why timing plays a key role in when and how you pay taxThis episode is a reminder that understanding how you take money out of your business is just as important as how you make it. When used correctly, tools like director’s loans can provide flexibility and control, but without the right advice, they can quickly turn into one of the most expensive mistakes a business owner makes. If you’d like a copy of Mai’s Director’s Loan Compliance Checklist, DM the word Loan on Instagram at @the_maiharris. 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.

    11 min

  7. 20 May

    Your Biggest Business Problem Isn’t Your Structure. It’s Your Calendar.

    Ask Mai & Send Feedback 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 practical approach to help business owners regain control of their time, reduce bottlenecks, and build a business that can scale without relying entirely on them. Using real examples from her own business, Mai explains how small shifts, like auditing where your time goes, removing low‑value tasks, and structuring your calendar intentionally, can significantly increase capacity, productivity, and profitability. In this episode, Mai talks about: The importance of completing a time and energy auditHow to identify and delegate low‑value tasksUnderstanding your “buyback rate” and where your time is being misusedThe replacement ladder and how to move from admin into leadershipWhy most business owners are stuck working in the business instead of leading itThe role of investing in yourself to grow as a business ownerHow simple systems and structured calendars create consistency across a teamWhy a business that depends on you isn’t truly scalableThis episode is a reminder that scaling a business isn’t about doing more, it’s about doing the right work at the right level. When you take control of your calendar, you create the capacity to lead, think strategically, and grow your business in a sustainable way. If you’d like a copy of Mai’s Replacement Ladder template, DM the word Ladder on Instagram at @the_maiharris. 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.

    20 min

  8. 13 May

    The Super Strategy Most People Miss

    Ask Mai & Send Feedback 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 than a compliance outcome.  Mai also discusses when a self‑managed super fund may be appropriate, the responsibility and compliance involved, and why control over investment choices is often a key driver for business owners and investors. A key focus of the episode is the importance of tax planning before year‑end, including reviewing projected taxable income and identifying unused concessional contribution caps from prior years, a strategy that can unlock significant tax savings when cash flow allows. In this episode, Mai covers: Why superannuation is one of the most underutilised tax planning toolsThe difference between concessional and non‑concessional contributionsHow salary sacrifice and member top‑ups reduce taxable incomeWhen a self‑managed super fund may, or may not, be appropriateThe real cost and responsibility of running an SMSFHow carried‑forward concessional caps workWhy tax planning must occur before 30 JuneThe difference between tax processing and true advisory supportDecisions made at EOFY without proper advice can’t always be undone. Taking the time to assess your position, understand your available strategies, and plan ahead can make a lasting difference, not only to your tax bill, but to your long‑term financial outcomes. Mai has created an information pack to help understand super contributions and EOFY strategies. To get your copy: Visit myaccountingadvantage.com.auDM “Super” on Instagram @the_maiharrisLearn 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.

    17 min
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About

My Accounting Advantage is a practical, no‑fluff podcast for business owners, professionals, and property investors who want to make smarter financial decisions with confidence. Hosted by Mai Harris, Principal Accountant and business advisor with over 25 years of real‑world experience, the podcast breaks down accounting, tax, superannuation, and cash‑flow strategies in plain English without the jargon, overwhelm, or “one‑size‑fits‑all” advice. IG: www.instagram.com/the_maiharris/ Facebook: www.facebook.com/profile.php?id=61587008353108 Linkedin: www.linkedin.com/in/mai-harris-4a4698375/ Web: www.myaccountingadvantage.com.au/

Information

  • Creator
    Mai Harris
  • Years Active
    2k
  • Episodes
    15
  • Rating
    Clean
  • Copyright
    © 2026 My Accounting Advantage
  • Show Website
    My Accounting Advantage