The start of a new calendar year is more than just a fresh page in the diary — it’s an opportunity to reset, refocus and set yourself up for a smoother financial year ahead. From a tax and accounting point of view, January is the perfect time to pause, review where you’re at, and strengthen how you work with your trusted accountant.
Too often, accountants are only contacted at tax time, when deadlines are tight and stress levels are high. But the most effective outcomes happen when your accountant is treated as an ongoing adviser, not just a once-a-year necessity. A proactive, collaborative approach can save time, reduce tax, improve cash flow and help you make better financial decisions all year round.
Here’s how to make the most of the new calendar year and work better with your accountant.
- Start the year organised, not reactive
January is ideal for getting your records in order. This includes reconciling bank accounts, reviewing bookkeeping systems, and ensuring your record-keeping processes are simple and consistent. Clean data means your accountant can focus on adding value, rather than fixing problems.
If you’re still relying on spreadsheets or shoeboxes of receipts, this is the year to upgrade. Cloud accounting software, digital receipt capture and automated bank feeds dramatically reduce errors and improve visibility over your finances.
- Set clear goals and share them early
Your accountant can’t help you plan if they don’t know what you’re aiming for. Whether your goals involve growing a business, buying property, paying down debt, improving cash flow, or preparing for retirement, sharing these early allows your accountant to tailor advice to your situation.
The new calendar year is a great time to book a planning meeting — not to talk about last year, but to talk about what’s ahead. Tax planning, business structuring, superannuation strategies and cash flow forecasting all work best when aligned to clear goals.
- Treat tax as a year-round conversation
One of the biggest mistakes individuals and businesses make is treating tax as an annual event. Smart tax outcomes are built progressively, not rushed at the end of the financial year.
Regular check-ins throughout the year allow your accountant to identify opportunities, flag risks early and help you adjust before it’s too late. This might include managing PAYG instalments, planning for capital gains, reviewing deductions, or adjusting business structures as circumstances change.
- Communicate changes as they happen
Life and business don’t stand still — and neither should your accountant’s understanding of your situation. Changes such as new income streams, investments, employment changes, business expansions, asset purchases or family changes can all have tax implications.
The earlier your accountant knows about these changes, the more effectively they can advise. A quick phone call or email during the year can often prevent costly mistakes or missed opportunities down the track.
- Respect the partnership
A strong relationship with your accountant is a two-way street. Meeting deadlines, providing information promptly and being open about challenges helps your accountant do their best work for you.
In return, a good accountant will offer clarity, strategy and confidence — helping you make informed decisions and avoid unnecessary surprises. When trust and communication are strong, the relationship shifts from compliance-focused to advice-driven.
A fresh year, a better approach
A happy new calendar year isn’t just about ticking compliance boxes — it’s about setting yourself up for success. By working proactively with your trusted accountant, you turn tax and accounting from a burden into a powerful planning tool.
This year, aim for fewer last-minute scrambles, clearer financial direction and more confident decisions. Your accountant isn’t just there to report on the past — they’re there to help shape your future.
If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.
This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.
(Feedsy Exclusive)