From Christmas cash bonuses to overtime payments, many employers make extra payments to their employees at the end of the year. As an employer, you should be aware of how these payments arerequired to be reported to the Australian Taxation … Read More
budget
Understanding the ATO’s New Approach to Unpaid Tax and Superannuation
Understanding the ATO’s New Approach to Unpaid Tax and Super In recent months, the Australian Taxation Office (ATO) has made significant changes to how it handles unpaid tax and superannuation. This shift primarily targets businesses that refuse to engage with … Read More
Planning for seasonal dips in income
Seasonal dips in income can be highly challenging when you’re a small business. But there are proactive ways to predict, plan for and overcome these dips in revenue. The key to dealing with seasonal dips is to know when they’re … Read More
Keeping on top of tax and expenses when self-employed – some tips and tricks
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and … Read More
How healthy is your business?
When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Knowing where you are allows for more effective … Read More
Should you buy a building for your business?
Should you buy a building for your business? Tired of paying rent for your commercial premises and considering buying a premises for your business? Owning a building works best if your business is well-established, you have money to invest, and … Read More
Keeping your cashflow strong in tough times
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
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
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