Do you ever feel like you’re tap dancing on rollerblades while swinging a cat? Don’t worry, a lot of small business owners feel the same way. And once the end of year financials are all finalised and the tax returns are ready to be filed, do you take time to sit back and reflect?

In case you missed the cues: the ATO is in crackdown mode. Its pre-end of financial year communication caused a surge in people filing their tax returns early this year, prompting the ATO to subsequently warn people to ensure they ‘get their returns’ right rather than rushing them.

The question most often posed to financial planners and accountants is: ‘How much money will I need to retire?’ The answer is not simple. But there is a basic formula for success. And that is, to plan your retirement well in advance.