Team Q&A: Thomas Elford
Thomas Elford has been a key part of the PPT team since 2008, bringing over 15 years of experience to his role.
Based in Lal Lal with his wife Nardia and their two children, George and Violet, Thomas enjoys helping businesses overcome challenges and achieve their goals. Outside of work, he loves camping, running, and cheering on the Cats. Here’s what Thomas had to say about business challenges, success stories, and his top recommendations for business owners.
What do you see as the key challenges business owners face today, and how does your role at PPT help address them?
The same old issues that have always been a concern for businesses—cash flow and staffing—remain major challenges today. At PPT, we help businesses understand their cash flow, what it means for them, and how to manage it effectively. This includes ensuring they know exactly what they owe to the ATO at any given time.
When it comes to staffing, while we can’t directly manage their teams, we encourage businesses to focus on having the right people in the right roles. We assist with understanding organisational structures, setting KPIs, and planning for succession in senior staff roles.
You’ve been at PPT since 2008. What do you enjoy most about being part of the team?
It’s being a part of clients’ businesses and helping them overcome barriers to achieve their goals and dreams. Watching these successes unfold and knowing I’ve played a role in them is incredibly rewarding.
Can you share a recent success story where you’ve helped a business owner overcome a financial or operational hurdle?
Earlier this year, we picked up a new client who had received poor advice from their previous accountant. They had unresolved Division 7A issues, which occur when a shareholder or associate withdraws funds from the company without paying tax on it.
We developed strategies to get this under control, avoiding a significant tax bill, and restructured their entities to provide more flexibility for tax and estate planning. Additionally, we secured a general interest charge refund from the ATO, which the client has since used to improve cash flow. They’re now in a much better position and are thrilled with the progress.
With 2025 on our doorstep, what advice would you give businesses for achieving success next year?
Start by identifying your business’s major pain points and focus on addressing them. Regularly review your structure, income forecasts, margins, costs, and cash flow forecasting. Set targets and strategies to work on each quarter.
Technology, particularly AI, will continue to impact businesses significantly. Stay vigilant about cybersecurity—at the very least, set up two-factor authentication for all your logins.
Do you have any business books or podcasts you’d recommend for entrepreneurs and business owners?
There are so many great ones! My top picks include:
- The Compound Effect and The Entrepreneur Roller Coaster by Darren Hardy
- The E-Myth by Michael Gerber
- Unshakeable by Tony Robbins
- The Infinite Game and Start with Why by Simon Sinek
You enjoy camping—tell us about your perfect destination.
For me, the ideal camping spot is somewhere remote and quiet with warm weather, by a river or the coast. It’s all about relaxing as a family, enjoying fun activities, and maybe even squeezing in time to read a good book.
If you could invite any five people to dinner, who would they be and why?
I’d invite Chris Scott, Tony Robbins, Elon Musk, Darren Hardy, and my wife Nardia. It would be an incredible mix of sport, motivation, innovation, and insight into what makes these people successful. The stories and conversations would be amazing, and I’d want Nardia there to share in the experience.
Want more information?
To discuss how this may impact your circumstances contact PPT on (03) 5331 3711.
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