Super Guarantee Rate Icreases
The super guarantee rate is set to rise in July this year. A increase to 10% means an additional cost to your business. It will mainly affect employer expenses and may affect salary packages – so you should speak to your accountant. The superannuation guarantee has stagnated at 9.5% since July 2014. However, there are […]
Changes To Tax Debt Procedures
The ATO have announced changes to Tax Debt procedures. It is sometimes possible to write off some or all of an individual’s ATO debt. This is referred to as a ‘release’ and can be applied when payment of the debt would leave you unable to provide for yourself, your family or others you are responsible […]
Essential Bookkeeping Tips for Small Business & Entrepreneurs
Bookkeeping is an integral part of running a business and, when done correctly, can genuinely impact profitability. It is a systematic approach that requires skill and effort to analyse the numbers, keep track of everything, and do it well. It must be precise to deliver meaningful information. See below for our Good Bookkeeping Tips. What […]
2021-22 Federal Budget Business News Review
Some important Federal Budget Business News from the Treasurer tonight: In Summary : The Low & middle income tax offset is extended for another year providing a tax cut of up to $1,080 for incomes under $48,000 pa and phasing out at $90,000 pa, Stage 3 personal tax cuts are due to start 2024, The […]
5 Top Reasons Why You Need Employee Retention Measures in Your Business
Employees are human beings, not just a cog in a machine. You invest so much time, energy, and money into the development of an employee, and if they leave, it hurts the business and affects the culture and momentum. Whether they handle your business admin, marketing, or strategy, employees are essential to keep. For this […]
Business Assets – Buy or Lease
Whether it’s a piece of machinery or a vehilce, buying is an expensive and important decision that can affect business tax, output, and cash-flow. It’s a decision that requires a robust strategy that carefully weighs up the pros and cons of leasing and buying. Buying: Pro’s You have a tangible asset This asset will appear […]
Instant Asset Write Off Opt Out
Recently, the Australian Federal Parliament passed the ‘Treasure Laws Amendment (2020 Measures No. 6) Bill 2020,’ which allows businesses to refuse temporary full expensing and other business incentives. The amendments will be measured on an asset-by-asset basis, so you should talk to your business accountant for more information about your specific business needs. This bill […]
Tapping Into Data Analytics Can Drive Growth
We are relationship-driven creatures. We buy from who we like, and who makes us feel good. Whether it be the barista who remembers our order, or the hairdresser who remembers what cut we want, a personal experience signals a good relationship. It builds customer retention and consumer satisfaction – the key to brand loyalty and, […]
Find Out What pricing strategy is best for your product/service
What price is right? The price you set for your product or service is one of the most crucial business decisions. Setting a price that is too high or too low at best will limit your business growth. At worst, it could cause severe problems for your sales and cash flow. If you start a […]
Business Structure Types Australia | Business Structure Infographic
When you start up a business, it is important to consider the various structures that your business could adopt, including: sole trader, partnership, company, or trust. Choosing the Right Business Structure for your Australian Business Deciding on the right structure for your business starts with careful consideration of your business objectives and due consideration of […]
