Useful information and resources on COVID-19

Over the course of a few weeks nearly everyone’s business and life has been turned upside down. It’s been a crazy time with toilet paper shortages, businesses forced to close, an overload of information (and mis-information on social media). With the recent disruption in mind, we wanted to help support you however we can. We’ve seen a number of our clients already impacted by the virus and decided to put…  Read more

The Number 1 Thing You Need to Know About Your Business

When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management…  Read more

Benefits of using technology

These days, you can use technology to take care of almost any issue facing your business. If you have a task you don’t like to do, there’s an app or software program to take care of it for you. It might take a few moments of your time to learn and understand how the software or app works, but doing so will save you valuable time and precious energy. It…  Read more

How to improve profits

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. We’ve put together 4 articles full of ideas to help you grow your business. The 4 key areas are: Increase your customers  Find new markets – with existing products or services Develop new products or services – to open new markets Improve profit Here’s the…  Read more

Cybersecurity tips for business owners

It’s natural for small business owners to think that they won’t be victims of cyber attacks. Most of the news surrounding hacking and data breaches involves large corporations, but that is because that’s where a high number of victims are affected. Hackers may find they have an easier time going after small businesses and start-ups that aren’t prepared for a security breach. So while they might get less information from…  Read more

How to open new markets

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. We’ve put together 4 articles full of ideas to help you grow your business. The 4 key areas are: Increase your customers Find new markets – with existing products or services Develop new products or services – to open new markets Improve profit Here’s the…  Read more

How to get a bigger slice of the market

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. We plan to send out to you 4 articles full of ideas to help you grow your business. The 4 key areas are: Increase your customers Find new markets – with existing products or services Develop new products or services – to open new markets…  Read more

December Newsletter

Australia embraces Black Friday and Cyber Monday The Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year. Why ‘Black Friday’? For many Australians, Black Friday is just confusing – shouldn’t Black Friday’ be on Friday 13th? In the US, the Black Friday sales follow Thanksgiving in a similar…  Read more

Tips for switching off during the holidays

The holiday season is once again here, and with it comes time to relax, focus on family and friends and take stock in what is really important in life. Unless you’re a small business owner. Every small business owner knows that being away from the office can be just as stressful as being in it. Phone calls from employees dealing with a minor crisis will pull your focus from your…  Read more

Tips for improving your credit score

At some point in the life of your business, you’ll likely need to borrow capital. That’s why it’s important to build and maintain a solid credit score now – so when the time comes to apply for financing you’ll be able to prove to a lender you’re a good risk. Here’s some simple steps you can take today to raise your credit score. Know your numbers A quick online search…  Read more

November Newsletter

This month we cover: CGT and the family home: Expats and foreigners targeted again Vacant land deduction changes hit ‘Mum and Dad’ property developments Calculating the Super Guarantee: The new rules Can the ATO take money out of your account? Your Right to Know Are you paying your staff correctly? Woolworths $200m plus remediation   CGT and the family home: expats and foreigners targeted again The Government has resurrected its…  Read more

How to increase your customers in 2 key ways

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. Over the coming months, we plan to publish 4 articles full of ideas to help you grow your business. The 4 key areas are: Increase your customers Find new markets – with existing products or services Develop new products or services – to open new…  Read more

SG amnesty, the impact of low interest rates, tax alert: distribution to non-residents

Inside: Super Guarantee Amnesty Resurrected When does the amnesty apply? Qualifying for the amnesty What do employers pay under the amnesty? What happens if you do not take advantage of the amnesty? Where to from here?   Towards Zero Interest Rates (and what it means for you) Australia and world volatility The real impact of low interest rates Investing in a low return envrionment   Tax Alert: Distributions to Non-resident…  Read more

Using Smart Goals to Achieve More

As a small business owner, you’re likely always looking for ways to achieve more. Maybe you made a New Year’s resolution about it. You might have resolved to make more money, find more clients, or grow your business. It’s fantastic to have an idea of what you want to do, but how will you know whether or not you’re successful? That’s where SMART goals come in. SMART goals help you…  Read more

Newsletter

This month : ATO takes ‘gloves off’ on overseas income Are all your SMSF eggs in one basket? Rental property expense – what you can and can’t claim The $1.1bn small business tax shortfall   ATO take ‘gloves off’ on overseas income Five years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the ATO has again flagged that underreporting of foreign…  Read more

What are the hidden costs of buying a house?

A word to the wise if you’re shopping for a new home: the list price is only a baseline. You’ll want to have a substantial buffer in your budget for a host of additional unseen fees. This article will help you understand all the associated costs of buying a house so you’re prepared. Purchase Fees Appraisal Before a lender will approve your mortgage you may be asked to undertake an…  Read more

Can residential property fund your retirement?

  Thinking about retirement can be stressful. You need to plan for how long you think you’ll be retired, what lifestyle you’ll want to lead, and approximately how much you’ll pay to maintain your cost of living plus any additional expenses. There are a lot of unknowns and “what ifs” that you might not be able to anticipate, and many of them can affect your finances. Many people ask whether…  Read more

Don’t lose a tax deduction for non-compliant payments to employees

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 (PAYG) Withholding obligations. This applies to tax returns lodged for the 2020 year onwards. The PAYG rules require that you: Withhold the tax amount from the payment before you pay your employee; and Report that amount to the ATO – in a Business Activity…  Read more

Newsletter

Inside this month, confusion over personal income tax changes and what you are really entitled to, why the Government does not want your business accepting cash payments of $10,000 or more, the tax treatment of compensation from financial institutions, and FBT and Uber style ride sharing services.   Confusion over personal income tax changes – what are you really entitled to? The recent income tax cuts that passed through Parliament…  Read more

Super, Insurance and Exit Fees

Confusion over superannuation and insurance: who is impacted by the 1 July changes. Single touch payroll exemption for directors and family members, and what the record number of tips to the ATO’s tip-line reveal.    Super, insurance and exit fees: The 1 July changes From 1 July 2019, new laws prevent superannuation providers from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low…  Read more

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