Adam Sullivan’s Hard Lessons: Division 7A, FBT & Avoiding Costly Mistakes in Business

Adam Sullivan’s incredible rise in business revenue came with some serious financial lessons. Today we dive into Adams financial rollercoaster - how he scaled to $1.5M a month, bought an $11M mansion, and nearly came undone by Division 7A loans, tax traps, and flashy spending. We unpack the real costs of pulling money from your company, how fringe benefits tax can sting, and why financial literacy is essential for every business owner.On this episode, we discuss:(00:00) Intro(00:27) Who is Adam Sullivan? $1.5M a Month Business Story(02:51) The Trap of Treating Company Money as Personal Money(04:37) Division 7A Loans Explained Simply(08:53) Why Business Owners Get Stuck in Dangerous Tax Cycles(10:19) The Hidden Risk of Pulling Money From Your Company(11:23) When Using Division 7A Loans Actually Makes Sense(14:55) The True Cost of Buying a Lamborghini Through Your Business(16:51) Fringe Benefits Tax (FBT) Explained: What It Could Cost You(18:29) Why Financial Education Matters for Business Owners(20:08) Selling the $11M Mansion: How Adam Escaped the Debt Spiral(22:34) The Dangers of New Money and Lack of Financial LiteracyCheck out the free resources from Inovayt here.Send us an email: [email protected] Numbers Game is brought to you by Future Advisory & Inovayt.Hosts:Nick ReillyJason RobinsonMartin VidakovicThis podcast is produced by VIDPOD. Check out our new website thenumbersgamepodcast.com.au. Browse the full show catalogue, jump straight to specific moments on the topics you love, or leave us a voice note. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.