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Did you use the reduced rates that applied for fuel acquired? Fuel tax credits are a valuable way for businesses to reduce their fuel...

Tax Deductions for Working from Home The Australian Taxation Office (ATO) has recently revised its approach to claiming deductions for work...

Taxes applied if you are providing car parking for your employees If you provide car parking for your employees, you may have to pay fringe...

Received a business support grant? You may have received a business support grant recently to help your business through tough times. If...

Future-Proofing Your Legacy: 10 reasons Why? Let me ask you this question, “is it important for you to protect your family wealth for...

Successor Director Solution: Business as usual Caution: Having a Sole Director in a company without a backup plan is just not prudent. It...

Pick your Team Members In case of your incapacity: Who will be your financial decision maker (Enduring Power of Attorney)? Who will be your...

What is an Advance Care Directive? One thing we can expect out of life is its unpredictability. Although thinking about the unpredictable...

POWER OF ATTORNEY “A power of attorney, like a will, is a way of preparing and planning for the future.”_Find Legal Answers There are...

What are the Security of Payments Laws? In NSW, those who perform construction-related work or offer supplementary goods and services under...

Are you still using your ABN? Your ABN may be flagged for cancellation if you haven’t reported business activity in your tax return, or...

Let us keep your company invincible even in the face of your demise, sickness or legal plight! In Australia, there are approximately to 3...

  If you performed some of your work from your home office during the 2022 financial year, you may be able to claim a deduction for...

As a parent or caregiver to a person with a severe disability, it is critical to guarantee that the assistance your loved one needs for...

  There’s recently been a big tax law change that may reduce the tax deductions for many businesses across Australia. This may...

WARNING TIME The Australian Taxation Office (ATO) is closing in fast on everyone who doesn’t properly declare their income and pay...

What is PSI or Personal Service income PSI is income that is primarily a reward for one’s efforts, skills and experience. What is the...

Meet Sam, the builder who came to us for advice when he did not have any clarity what’s going on each project in terms of...

All employers have to report payments made to employees and closely held payees to the ATO using Single Touch Payroll reporting from July...

At times, as an employer, you may feel justified in reclaiming money from an employee because they’ve lost company property, damaged...

The foundational goal of any business is to make a profit. As a business owner, that’s one of your key financial aims – to make enough...

With the Christmas season just around the corner, it’s nice to acknowledge your suppliers/business partners and say thank you for another...

Whether you’re currently involved in a cryptocurrency like bitcoin, or considering buying a cryptocurrency, it’s vital to explore the...

Some companies are eligible for lower tax rates. We’ll always apply the tax law for your benefit when we prepare your company tax...

While the software has replaced the leather-bound ledgers of the past, bookkeeping is still an essential task for modern business owners....

Farming is a business with unique accounting needs. The specific challenges you face in running a successful and thriving farm, requires...

Like any other business, if you’re starting a construction business it pays to do it properly. That means getting your accounts in order...

Getting your head around effective financial management, when you are busy running a business can be difficult. Get it wrong, and you...

Running a small business requires taking some risks. Debt is one of those risks, but it is also a positive tool for small business that is...

The expanded Single Touch Payroll (STP) Phase 2 is due to start on 1 January 2022. However, the ATO has just announced that there will be...

The best accountants can do much more than just tax and compliance work for your business. They’re troubleshooters and strategic advisors...

Do you have direct debits and online payments set up for your business? Making it easy for your customers to pay you is vital to business...

While change may be the only certainty in business, you still need to know where you’re going. You can’t stop the unexpected from...

When a customer asks you for a quote, it means they’re seriously considering doing business with you and you’re one step away...

Goals are what drive the long-term performance of your business. Agreeing on clear targets, and measuring your progress over time via key...

The government has initiated a new system that attaches a unique identifying number to an individual who is a company director. If you are...

It’s great to be the boss – you can work any hours you like, right? Unfortunately, for many business owners, that means long hours,...

A capital gain (or loss) occurs when an asset is sold. The difference between the purchase price and the sale price is the gain or loss....

Whether you hire an individual accountant or manage your own business, it is crucial to keep track of your finances. An accountant is an...

Understanding your finances is a vital part of running your business. But getting down into the nitty gritty of the company accounts...

Working from home is becoming the norm for many businesses, either due to lockdowns or greater employee flexibility. It’s important to...

When it comes to meeting your business goals, it pays to have an effective way to measure your success. Key Performance Indicators (KPIs)...

When you have employees working from home and no longer together under one roof, communication becomes more important than ever. Slack is a...

Vaccination is an effective way to help protect against COVID-19. But as an employer, can you require your team to be vaccinated? While in...

In a world of multiple online channels and social media formats, video seems to be coming out on top. Social platforms like Instagram, Tik...

We live in a digital world where our company’s data and (crucially) our customers’ data is under constant attack. Hackers are always...

From 1st November, if you have any new employees start work with you and they don’t nominate a specific superannuation fund, you may need...

Small and medium-sized businesses are spending on average 120 hours a year on admin tasks, according to recent research. If your people are...

Managing employee leave might seem like quite a basic task for many businesses – especially smaller ones with only a few employees...

Xero’s Small Business surveys show that almost half of invoices are paid late. Late payments are one of the most frustrating things a...

As a business owner these days, you have access to a huge variety of different online, digital and social channels for sharing your...

Common Tax Deductions for Small Business Are you claiming all the business tax deductions that you are entitled to? There are many expenses...

Business.gov.au has one handy webpage with links for all COVID-19 related financial assistance for businesses in all states and...

The job market is running hot and it’s tough to attract good new staff. You need to write a job listing that will help your role stand...

Why do customers buy from you? Knowing what it is that makes someone choose your products and/or service over your closest competitor is...

Keeping track of your inventory, the time it takes to sell and the profit made on each product is essential if you want to manage your...

One of the best things about online shopping is instant, hassle-free payment. Enter your details, click, and you’re done. If your...

Good record keeping is the mainstay of accounts management. It assists you to both meet your compliance obligations and provide...

Turning a profit will be high on your list of goals as a business owner. And if you want to generate the best margins, that means keeping...

The pandemic has acted as an impetus for reflection, with many workers and business people reassessing the hours they work and the priority...

When one member of your team begins to perform below par, this can have a knock-on effect across the whole business. So, dealing...

All employers have to report payments made to employees and closely held payees to the ATO using Single Touch Payroll reporting from July...

It takes guts to start a business. It also takes a strategic mindset to succeed. Business owners are no strangers to weighing risk and...

How do you make sure your business is on the best possible footing when you are ready to leave it? Here’s our advice… What is a...

With extreme weather events on the rise and climate change becoming an increasing threat, it’s never been more important for your...

Putting important company policies in writing makes good sense. It compels you to think about how you want your workplace to run and the...

Supporting and promoting health and wellbeing in the workplace is important for staff and business owners alike. Providing a physically and...

Personal services income (PSI) is income received as payment for individual personal efforts and skills. It applies to many contractors who...

Big isn’t always best when it comes to marketing, and this rings true when it comes to small businesses. Support for small businesses is...

One year on, small business owners are still struggling with the effects of the pandemic – lockdowns in some parts of the world, closed...

When you started your business, you probably dreamed about flexible hours and highly profitable, stimulating work. Ideally, you would’ve...

Being in lockdown is frustrating. There’s so much you can’t do. But is it the perfect time to do some business planning? Business...

Turning a profit is at the heart of running any successful company. But should profits be the only financial focus if you’re looking...

Projecting your cashflow pipeline forwards during a crisis is vital. To be able to navigate the future path of your cashflow, you need to...

Improvements can always be made at the margin. Small tweaks to your processes or systems can make a massive difference to the end result....

There are certain items of equipment, machinery and hardware that are essential to the operation of your business – whether it’s the...

The JobMaker Hiring Credit scheme is designed to encourage businesses to employ additional young jobseekers aged 16-35 years. The hiring...

Some businesses treat employees like cogs in a machine: lose a few and there are always plenty more to replace them with. But every person...

If you need to provide payment summaries to people other than employees, such as suppliers where no ABN was quoted, you need to lodge...

Do you know how much it costs you to produce each product or service in your range? The better you can understand this cost of sales – or...

Having a LinkedIn company page isn’t a compulsory requirement when you set up a business. It works best in industries where networking is...

To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be...

When was the last time you made a purchasing decision based on positive customer reviews? Most of us can remember when we decided NOT to...

Conflict is common in most workplaces. While it may not seem too detrimental at low levels, research has found that serious conflict and...

Bank reconciliation keeps your bookkeeping accurate and can help lower your tax, alert you to fraud, and allow you to track costs. Bank...

The internet is amazing, putting a vast trove of information right at our fingertips. But with the current Google page count at an...

For your business to make money, you need to generate revenue. You produce revenue through your usual business activity, by making sales,...

The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow. Net profit is what...

The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash...

Twitter is well established as a social media platform for entertainment, sport, news and everyday online content sharing. It’s also an...

Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes...

Three steps to ensuring data is meaningful for your business Raw data describes the facts and figures that a business processes every day....

Inventory management is incredibly important in retail and yet studies reveal that 43% of small businesses either don’t track inventory...

Many people new to running a business and employing people are unsure about the difference between PAYGI and PAYGW. They are not the same...

The taxable payments annual report (TPAR) reports to the ATO information about payments made to contractors for certain services. TPAR for...

Ethical marketing is about drawing the line between moral and immoral advertising to your customers. It’s the difference between...

The post-Covid, globalised economy has created a number of challenges for the average business. Depending on your business purpose and...

More than ever, cashflow is a vital part of staying afloat, whether your business is in recovery or growth mode. Revenue, profit and your...

As more and more business moves online, you need an efficient way to contact customers. An online database helps you reach out to your...

Your clients or customers experience your business in a way you never can. They’re an incredible source of knowledge and insight....

If you struggle to achieve the results you want, it’s likely you’re disregarding one of the key components of The Results Mindset...

Have you dived into the world of cryptocurrency exchanges? Cryptocurrency is used to describe encrypted virtual currencies which exist as...

The best clients make being in business all worthwhile. They value your expertise, appreciate your hard work, they’re friendly to work...

Changes to the Australian Consumer Law (ACL) from July 2021 – do they affect your business? The financial threshold definition of a...

Even before you start recruiting for a position, you should be prepared to make a new employee’s introduction to the business as smooth...

Why does your business exist? Your purpose is three to seven words explaining why your business exists for your customers; it should be...

Many businesses will have been through a tough and transformative period through 2020 and into 2021. In some cases, companies have had to...

Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to...

Casual Employment New Rules from March 2021 The Fair Work Act 2009 has been amended to enforce several new rules for employing casual...

It can be lonely at the top when you’re running your own business. As the owner manager, the buck stops with you and that can result...

As a small business owner, do you need a bookkeeper, an accountant, or both? Bookkeepers can seem a little mysterious. In fact, they deal...

It takes little more than a laptop and a social media page to get a legitimate business off the ground these days. As a result, it’s next...

Invoicing plays a key role in all businesses (it’s how you get paid) so understanding how they work, what to put on them and the...

Small businesses are particularly vulnerable in tough economic times. When sales are slow, there are still overheads and salaries that need...

Getting pay or payroll wrong is a major financial and legal risk. Business owners and management are ultimately responsible for any pay...

As Australia goes into a new wave of Covid-related lockdown, businesses again face the challenges of social distancing, the wearing of face...

It’s that time of year again – Annual Accounts review season! To ensure the Annual Accounts process is as smooth as possible for...

Does your business make payments to closely held payees? If so, you will need to start reporting these payments via Single Touch Payroll...

Many think that buying a franchise eliminates the financial risks associated with starting a business. It’s a proven format, established...

With the increased availability of share trading apps, making it cheaper and easier to buy and sell shares, more people are entering into...

What is the difference between a contractor and an employee and whose responsibility is it to get right? An employee works in the business...

Organising your documents now will mean you can get your tax return completed earlier and access any refunds due or start planning for tax...

You probably didn’t get into business just to make money, but it is (and should be) part of the equation. Getting your salary right is an...

Running a business will always mean incurring certain expenses, or ‘spend’. There are always costs, overheads and supplier bills that...

The Australian Government’s R&D tax incentive provides targeted offsets that aim to encourage more companies to engage in R&D, in...

Paying tax is an inevitable part of doing business. The more your income grows, the more tax you’re liable to pay. You’re rewarded for...

It’s nearly time to make a finalisation declaration for Single Touch Payroll. There is no need to issue payment summaries to employees...

It’s nearly time to make a finalisation declaration for Single Touch Payroll. There is no need to issue payment summaries to employees...

Some employers need to pay PAYG withholding liabilities to the ATO monthly, even if the BAS is lodged quarterly. The monthly instalment...

While software has replaced the leather-bound ledgers of the past, bookkeeping is still an essential task for modern business owners....

Having a self-managed superannuation fund (SMSF) gives you control and flexibility over how you make investments and prepare for...

You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know...

Your monthly activity statement is due by the 21st of this month. Use the following checklist to make sure you are ready for lodgement day:...

Well-managed accounting is crucial in every business – in real estate, it comes with added layers of complexity. Whether you’re running...

As part of the Federal Budget 2020-21, the government announced a loss carry back measure to encourage new investment and work with the...

Depreciation is what happens when business assets lose value over time. It’s an often-forgotten cost of doing business – but it...

If you are lodging your own fringe benefits tax (FBT) return, you need to lodge and pay by the 21st of May. If we are lodging on your...

Although your tax return is not due for a few months yet, the end of the financial year is near. Get ahead now by preparing all the...

Cash is the fuel that powers your business. Does your business have enough capital in your company to actually fund your short, medium and...

Advertising and marketing options are endless for any small business, but driving growth through paid activity quickly becomes expensive...

The Personal Properties Security Register (PPSR) is a national online register of secured interests in property. You can protect your...

Are you interested in learning more about income splitting and how to minimise tax by apportioning income or profit between associated...

The superannuation guarantee statutory rate has remained at 9.5% since July 2014. However, plans have been in place for some years now, to...

If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2021...

On Tuesday 11 May, the Treasurer, the Hon Josh Frydenberg MP, delivered the Federal Budget 2021–22, his third Budget. We have curated a...

If you are to increase head count during this period until October 2021, government job maker hiring credit means you can reduce the wage...

If you are running a business, you can no longer claim deductions for payments to employees/workers if you have not met your Pay As You Go...

We’ll create for you a one page plan for your future – how much $ you will need, an estimate of how much $ you’ll have, and how to...

Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business....