Two Drunk Accountants

The 2026 federal budget was released last night and oh man there were some changes. If you have investments, want to invest or use a discretionary trust in your business there are potential changes coming that will affect you. Is this good for the economy? Do we agree with the changed? Listen and find out. But also remember none of this is yet law and we explain more in this episode.  Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Tim and Dan chat about tonight federal budget. With some big changes possibly on the way we discuss what we are most anticipating and our initial hot takes.   Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Our favourite economist is back, Jeremy Thorpe MD at Bondi Partners is back to talk about what's happening in the economy and how it affects you and your business! Conflicts in the Middle East, petrol prices, inflation, property prices and AI are all on the agenda! What are we in store for?  Jeremy Thorpe: https://au.linkedin.com/in/jeremythorpe Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week we tackle tax avoidance and part IVa, particularly how it relates to your entity selection or restructure. We are joined by Adrian Bailey the principal at Cleary Hoare lawyers to discuss structuring and whether you are accidentally falling into tax avoidance by choosing a particular structure?  Cleary Hoare: https://www.clearyhoare.com.au/ Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week Tim and Dan discuss their top 5 complications with discretionary trusts that might not make it as attractive!  Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week Tim chat with Brendan Roberts founder of Aider and current GM about all things AI and what the future will bring.  Sponsor Offers:  Here Brendan Roberts: https://nz.linkedin.com/in/brendanproberts Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Continuing our series on trusts we discuss if a trust is right for your business and the pros and the cons!  Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Join Tim Garth and Heather Smith as they attempt to unpack what they learned at the Accounting Business Expo—somewhere between the coffee, the chaos, and possibly a wine or two. They’ll chat about the latest AI tech (that we’re all definitely pretending to fully understand), how it’s shaking up the accounting world, and what it might mean for your business… depending on how brave you’re feeling. Expect a few practical tips, some questionable conference highlights, and bold predictions about the future of AI—delivered with the confidence only slightly tipsy accountants can muster.

This week we chat with Organisational Psychologist Dr. Sarah Cotton from Transitioning Well to chat about the causes and what you can do about poor mental health of small business owners. This comes off the back of the report on the wellbeing of small business owners released by Xero during the week. 

We continue our redo series on entity structures (the restructure if you will) and this week we tackle the humble company. What is it, why would you choose it and how does it work? All answered on this weeks episode of the podcast.  Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

In the next episode on our series on entity structuring for your business we discuss the partnership. Find out why its not our go to in most cases!  Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

If you manufacture or hold stock then this week is for you! This week we are joined by Greg Roughan Head of Content and Jarrod Adam Head of product at Unleashed Software to discuss their latest release of the Manufacturing Health Index Report. We discuss what are the trends in the industry including gross profit margins, leads times and how much stock are people holding? We also dive into common mistake people make when tracking this information!  Unleashed Software: https://www.unleashedsoftware.com Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

It's been 7 years since we recorded our first ever episodes on entity structures and a lot has changed since then. So beginning this week we are redoing our series on the various entity structures you might consider for your new business! This week starting with sole traders!   Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Repeat episode this week!   This week its Halloween! So we discuss the top 5 scariest taxes that might sneak up on your this halloween! 

The time has come, someone was finally brave enough to show us their books. Live in this episode we analyse the books of Stone Pine Distillery and call a special guest to see if we get our assumptions right!    Stone Pine Distillery: https://www.stonepinedistillery.com.au/home Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week we tackle another niche tax issue! If you make input taxed supplies - residential rent, financial supplies like dividends or credit - can you claim the GST on the expenses?  The answer is mostly no but sometimes yes!    Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week Tim and Dan dive into the tricky world of owning property while your tax residency changes, you might owe more tax then you think...or none at all! I really depends.    Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

It's the new year and we thoughts why not dissect some financials while you enjoy your holidays! Can Dan guess who these financials are? Would he buy this business? Find out now!  Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

It's Christmas time and of course of the Two Drunk Accountants that means the Drunkies! That's right who will win the small business and accounting communities most prestigious awards! Listen now to find out!    Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week Tim and Dan go through some interesting data recently released by the ABS (the Bureau) and what they mean for you business!    Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

The podfather returns! John Munden and Dilnar Tangri from Cloudoffis join us to discuss why you are getting fatigue from the ever growing list of apps in your tech stack, how AI is leading to growing expectations from your software and how this relates to your business and your clients!  Sponsor Offers:  Here Cloudoffis: https://cloudoffis.com.au/ Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Greatest friend of the podcast Heather Smith joins Dan to discuss 5 things we each have on our mind. We talk about our podcast network, we discuss the best new apps for small business and accountants, we discuss what we think about auto-reconciliation and we discuss guests we would love on the show!    Sponsor Offers:  Here Heather Smith: https://au.linkedin.com/in/heathersmithau Accounting Apps Podcast: https://www.heathersmithsmallbusiness.com/podcast/ Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week Tim and Dan are joined by their partner in mortgages Nick Ware from Mortgage Choice Wyong to discuss the reasons you might want to consider refinancing that isn't just a lower interest rate. Dan also reveals part 1 of his revenge on rat gate.    Sponsor Offers:  Here Nick Ware: [email protected] Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Can you claim your rent (or mortgage) as a tax deduction? The answer could be yes! But also no. Plus Dan surprises Tim with big news!    Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

Book nuggets is back and this time we tackle Traction by Gino Wickman. Do you feel like you are struggling to hit the ground running with progress in your business? Well this book aims to solve that. We also discuss another new housing policy idea Dan has!  Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week we are joined by Steve Hui Australia's #1 Points travel expert to talk all things points! Where to get them, are they worth it? Where to spend them? Find out on this episode!  Links: Steve Hui: https://au.linkedin.com/in/stevenhui Pay.com.au: https://pay.com.au/ Sponsor Offers:  Here Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week Tim and Dan discuss the governments updates to the superannuation....again. We also discuss what big companies aren't and are paying tax.    Links: Sponsor Notes:  https://twodrunkaccountants.com.au/podcountant-network/ Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

No episode this week as we take a quick break. Instead we update you on all of the exciting things coming up in the next 2 months! 

This week we chat about director penalty notices and how to avoid them! With the ATO issuing more and more DPN's we discuss what they are and how to avoid becoming personally liable for your company's tax debts! Links: Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week Tim and Dan discuss your most important investment and that is your time. We recently attended a talk by Kate Christie about ways to save time, and you know we love a time-ass-tip, so discuss what we learned from this awesome session.  Links: Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected]

This week we discuss 5 pieces of the data that you will likely overlook that will greatly increase your risk of being reviews or audited by the ATO.    Links: Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au Email: [email protected] ATO Industry Code Finder: https://www.ato.gov.au/calculators-and-tools/businesses-industry-code-tool  

This week we tackle another set of financial statements from an interesting point in time, Twitter circa 2021. Tim has seen them, Dan has not. Can he answer whats good, whats not good, what is the industry, what is the business and would he invest? Find out as we deep dive and analyse Twitters financials!  Don't forget you can submit your anonymised financial statement for us to review on a future episode of Show us ya books! by emailing them to [email protected].   Links: Youtube: https://www.youtube.com/@TwoDrunkAccountants Instagram: https://www.instagram.com/twodrunkaccountants/ Website: https://twodrunkaccountants.com.au    

This week we recap our time at Xerocon! We rehash the fun times and of course all the product announcements from Xero this year. We chat to Angad Soin Manage Director of Xero Australia and NZ and Chief Global Strategy Officer and debrief with friend of the pod Heather Smith! 

This week Dan is joined by Liam Hindle Head of Product Marketing at MYOB to discuss their Accounting Industry Monitor report. We discuss what they found the best firms were doing in areas like talent retention and tech/AI. Links: MYOB Accounting Industry Monitor Report - Here Website: https://twodrunkaccountants.com.au/ Instagram: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants   Chapters 00:00 Introduction and Humor in Accounting 02:44 The Impact of COVID on Health Awareness 05:35 Overview of the MYB Accounting Industry Monitor Report 08:18 Talent Shortages in the Accounting Industry 11:05 Investing in People and Processes for Growth 13:52 Automation and Technology in Accounting Practices 14:56 The Importance of Client Engagement 17:07 Enhancing Client Onboarding Experiences 19:06 Navigating AI in Accounting 21:00 The Evolving Role of Accountants 22:49 Adapting to Technological Changes 23:37 AI Innovations in Accounting Software 26:30 The Future of Agentic AI 27:48 Practical Applications of AI in Accounting

This week we go full clickbait and discuss how you can deduct your home loan interest. We cover the general mistakes peoples make when borrowing against their home for investments and the issue around lending this money to a discretionary trusts. We also discuss our hair for an extended period.   Website: https://twodrunkaccountants.com.au/ Instagram: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants

This week Tim and Dan discuss how we are currently using AI in our business and what we are finding it can and can't do.    Website: https://twodrunkaccountants.com.au/ Youtube: https://www.youtube.com/@TwoDrunkAccountants Socials: @twodrunkaccountants

This week Tim and Dan cover the updated superannuation laws taxing unrealised gains. We also discuss some other tax reform being discussed in the lead up to the Economic Reform Roundtable...which we have not been invited to.    Website: https://twodrunkaccountants.com.au/ Email: [email protected] Insta: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants

This week Tim and Dan go full mythbusters style and discuss the viral videos doing the rounds about whether you can use your tax to pay down your mortgage. Will it be true? Will it be busted? Find out this week.    Website: https://twodrunkaccountants.com.au/ Email: [email protected] Insta: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants    

This week Tim give his tips for running a small business and having a young family while Dan with no kids plays devils advocate.   Sponsored: Accsouce - email [email protected] to receive 30 day free trial.

This week Tim and Dan tackle a common questions when starting a family business, can I hire my spouse or kids? Can I distribute income to them? 

This week Tim and Dan play another round of everyones favourite new game Show Us Ya Books! Can Tim guess the business correctly? Will he make a fool of himself? Do we wish we invested in this company? Find out!

This week Dan reveals why he and Tim have bad blood, we begin our question for Xerocon tickets and discuss why using the immediate write off over COVID might come back to cost you more tax now. 

Its the end of the year as we know it, and Tim and Dan have made a little jingle to help you remember what you need to do before 30 June! Plus we discuss the top 10 things you consider before 30 June. 

Dan and Tim dodge death, battle a rogue office mouse, and somehow tie it all back to gratitude and balance sheets. In their new segment "Show Us Your Books," they crack open Lehman Brothers’ financials like a cold one—revealing red flags, dodgy debt, and the truth behind “growth.” Laughs, lessons, and a little light accounting—what more could you want?

This week on the pod, Tim and Dan pour a Hugo Spritz and dive into the nitty-gritty of getting paid from your biz. They break down how sole traders, companies, and trusts all do it differently, and why your personal budget matters more than you think when it comes to tax. Along the way, they swap some travel tales with a side of cultural spice and hammer home why keeping your paperwork in check is a game-changer for financial planning. It’s a classic mix of banter and business — making money talk a little less boring, one episode at a time.

This week on The Two Drunk Accountants, Tim sits down with leadership expert John Munden for a chat that swings from air fryers to Apple, and everything in between. They dive into the big stuff—empathy, kindness, connection—and how those warm-and-fuzzy words actually make a huge impact on team performance and business culture. John shares stories from his time working with companies like Xero and Apple, and why creating psychological safety at work isn’t just a buzzword—it’s essential. Plus, they get real about micromanagement, coaching, and why your team (and your relationships) probably just need a bit more love. Oh, and yes, we do talk about air fryers.

Dan and Tim sit down with the awesome Shari Elle to unpack this thing called Nonviolent Communication — or NVC for those of us who like to keep things snappy. And no, it’s not about yelling less at your coworkers (although... also yes). It’s about actually listening to people, understanding their needs, and not being a total muppet in tough convos. They get into how this stuff can totally flip the script in both business and personal life. Think: more empathy, more connection, less passive-aggressive Slack messages. Shari drops some wisdom on how tuning into your own feelings (we have those?) can seriously level up how you talk to your team, your family, and maybe even your accountant.   Special Offer just for Drunk Accountants Listeners… until the end of 2025, you can get a 20% discount on NVC's “Leading with Connection” 2-day Professional Foundation Training, it will enrich your Leadership and all your relationships, professional and personal.  Code is “DRUNK20%”.

In our final episode of Tradie month, we are joined by Nic Cox, Co-Founder of Tradies in Business.  Nic and Tim dig into how AI and smart software can save tradies time, cash, and headaches. From job management to quoting and keeping the books in line — it's the ultimate tech toolbelt for running a slicker biz.

Think you’re charging enough? Think again. Dan and Tim get real about the nitty-gritty of tradie charge-out rates—why most are too low, what costs you're probably forgetting, and how to price like a pro without scaring off clients. From dodgy margins to time-tracking fails, they’re breaking it all down with no fluff. Plus, hear about their big plans for tradie boot camps that’ll get your business firing on all cylinders. If you're tired of working hard for too little, this one’s for you. Want to Join our Bootcamp? Register HERE   P.S A sheep shepherd's hourly rate in NSW would typically range from $35 - $45 per hour. 

Welcome to Episode 1 of Tradie Month! Now, you know we love a listical, and in true Tim & Dan fashion we are making a list of the 5 biggest killers of cashflow for tradies.