Small businesses are particularly vulnerable in tough economic times. When sales are slow, there are still overheads and salaries that need to be sorted. Pre-planning and being proactive can help you weather tighter economic periods and allow you to continue … Read More
Accounting
5 signs you’re undercharging for your products or services
Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry or you’re a contractor. Costs have been rising, so it may be time to rethink your own pricing. Here are five … Read More
How to Calculate Your Breakeven Point
Understanding your business breakeven point is essential to know how much money you need to make to stay in business. It can therefore help you make well-informed financial decisions and practical business plans. The breakeven point is the income or … Read More
Your upcoming tax calendar for February and March
Welcome back to work after what was hopefully a restful and lovely summer break! And welcome to 2023, where we are truly looking forward to working with you and your business this year. In order for you to be across … Read More
5 ways to get in control of your business finances
Having proper control of your business finances is a big advantage. It helps you make well-informed business decisions and keeps your organisation profitable. With so many digital tools for managing your bookkeeping, accounting and management reporting, it’s never been easier … Read More
When to Register Your Business for GST
Should you register your business for GST? Many business owners register their businesses from day one, regardless of income. Others, for example, many sole traders, choose not to register for GST until it is mandatory. However, it is common that … Read More
Your Q1 2023 Deadlines for the Diary
The new financial year has started with some changes – remember, super is now 10.5%, and most workers should be paid super on all ordinary earnings as the $450 monthly threshold no longer applies. We’ve highlighted some upcoming business lodgment … Read More
Your Q4 2022 Deadlines for the Diary
Your Q4 2022 Deadlines for the Diary Have you got all your March quarter obligations under control? Soon enough, we’ll be into the last quarter of the financial year, often a busier time for small businesses. We’ve highlighted some upcoming … Read More
Offering Salary Incentives to Staff
Are you thinking about offering incentives to staff in the form of salary packages? Sometimes the terms ‘salary sacrifice’ and ‘salary packaging’ are used interchangeably, but there are differences between the two. A salary sacrifice is when the employee chooses … Read More
Has your ABN been cancelled without your knowledge?
Is your ABN still active? The ATO has brought in an automated cancellation notification service for potentially inactive Australian Business Numbers (ABNs). If you haven’t had any business activity or are behind in getting your activity statements lodged, the ATO … Read More