Sachintha Keddagodage, Author at Growth Prof

Avoiding Common Payroll Mistakes in SMEs: A Guide for Australian Businesses

Payroll management is a vital but complex task for Australian small and medium-sized enterprises. Errors in payroll can cause costly financial penalties, legal issues, and damage employee trust. As payroll laws and compliance requirements continually evolve, SMEs must be proactive in managing these risks. Here is a guide to key payroll mistakes Australian SMEs commonly… Continue reading Avoiding Common Payroll Mistakes in SMEs: A Guide for Australian Businesses

Recent Blogs

Business News – November 2025

TaxWise Small business instant asset write-off A Bill before Parliament will extend the $20,000 instant asset write-off for another year until 30 June 2026. The instant asset write-off is available to a small business (annual aggregated turnover under $10 million) that uses the simplified depreciation rules. This means that if your business qualifies for the… Continue reading

Business News – October 2025

TaxWise What’s New Income tax thresholds/amounts Some income tax thresholds and amounts changed on 1 July 2025, while others did not. Some of the more common threshold’s amounts are listed below. * ATI = adjustable taxable income GDP adjustment for 2025–26 The GST and PAYG instalment amounts are usually adjusted every year by the ‘GDP adjustment factor’. For… Continue reading

Secure Your Business Future: Setting Up Successor Directors for Your Company

Running a successful company involves planning for the future. It’s not just in terms of growth, but also in terms of continuity. Many Australian business owners focus on day-to-day operations, tax planning, or expansion strategies, yet overlook one critical aspect: what happens to the company if they are no longer able to run it? If you die… Continue reading