What is financial planning for business owners?
Financial planning for business owners looks at the personal side of a business owner's finances: uneven income, superannuation that is easy to put off, personal insurance when income depends on the owner, and how personal wealth sits apart from the business. Tax stays with the accountant. Personal advice is provided by MGB Financial Services Pty Ltd.
This page covers the personal financial questions that business owners commonly raise. It is general information. The business's tax and structure remain with its accountant. Personal advice is provided by MGB Financial Services.
General information. Reviewed 16 October 2026. Rules, caps and benefit tests change. Current figures are published by the Australian Taxation Office, Moneysmart and Services Australia.
Who is financial planning for business owners for?
Owner-operators in trades, professional practices, hospitality and services across Sydney and Western Sydney. Founders whose salary is modest but whose business has grown. Partners in a practice who want their personal finances considered separately from the partnership.
Medical practice owners face many of the same questions, covered in financial planning for doctors. Owners with larger balance sheets may also find financial planning for high net worth individuals relevant. Business owners in the west can read about financial planning in Parramatta.
What does the advice cover?
Issues business owners commonly raise
Superannuation. Business owners who pay themselves through a company generally receive super guarantee contributions on their salary, but sole traders and partners generally do not. Personal contributions claimed as a tax deduction count towards the concessional cap, which the ATO publishes at $32,500 for 2026–27. Unused cap amounts from earlier years may be carried forward where the total super balance is under the published threshold.
Personal insurance. When a business depends on its owner, illness or injury can affect both the household and the business. Income protection, life, TPD and trauma cover are the personal insurance subjects in the Financial Services Guide. Business-specific cover, such as key person or buy-sell arrangements, involves the business's own advisers and lawyer.
Wealth outside the business. A household with most of its wealth in one business carries concentrated risk. Building savings and investments outside it, and planning cash flow around uneven income, are common subjects of wealth management in Sydney.
- Super contributions for owners who are not on a regular salary.
- Income protection and life insurance where income depends on the owner.
- Cash flow and budgeting around uneven income.
- Personal investment outside the business.
- Retirement planning when a sale of the business is uncertain.
How Vermilion can assist
A free initial 15-minute chat
A short conversation about the personal financial question. It is not advice and does not cover the business's tax.
An introduction to MGB Financial Services
If personal advice is wanted, MGB Financial Services explains scope and fees first. With consent, it can work alongside the business's accountant.
Advice in writing
Personal advice is documented after the owner's circumstances are considered. Business tax and legal matters remain with the accountant and lawyer.
Limits
- Business income can be irregular, and a plan built on one good year can be strained by a weaker one.
- Relying on a future sale of the business to fund retirement carries the risk that the sale does not happen, or happens at a lower value.
- Insurance terms, premiums and claims definitions differ between policies.
- Contribution caps and tax rules change. Figures here are from the ATO and are dated.
Questions
FAQs
Do business owners have to pay themselves super?
It depends on the structure. The ATO explains that a company generally has to pay super guarantee for employees, including working directors, while sole traders and partners are generally not required to pay super for themselves. This is general information. An accountant can confirm how it applies to a particular business.
Can a business owner claim a deduction for personal super contributions?
Generally yes, subject to eligibility rules and a notice of intent lodged with the fund. Deductible contributions count towards the concessional cap, published at $32,500 for 2026–27. Source: Australian Taxation Office.
Does this page give business tax advice?
No. Business tax and structuring are matters for an accountant. Financial advice provided by MGB Financial Services covers personal matters in its Financial Services Guide, such as super, insurance and personal investment.
Can MGB Financial Services work with the business's accountant?
With the client's consent, yes. Many business owners find it useful for their accountant and financial adviser to share information. Accountants can read more on the page about financial planning for accountants' clients.
The advice provider
Credentials of the practice
Financial advice is provided by MGB Financial Services Pty Ltd, Authorised Representative No. 428617 of Charter Financial Planning Limited. The practice gives personal advice only through people who are registered to do so. This website does not name an individual adviser.
You can search the ASIC Financial Advisers Register for the practice and for the people authorised to give personal advice. The Financial Services Guide sets out the services, how the practice is paid, and how to complain.
Complaints can be raised with MGB Financial Services, then with Charter Financial Planning using the details in the Financial Services Guide, and then with the Australian Financial Complaints Authority ( afca.org.au, 1800 931 678).
General advice warning
This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.
