There is no doubt you have heard a lot about the recent super reforms. With so much being said, we’ve distilled our top strategies to help you stay compliant and take advantage of the new rules. Make voluntary personal contributions The goal posts are changing around both concessional (pre-tax) and non-concessional contributions caps. Lower super caps make it harder … Read More
3 Ways to manage ATO debt before it’s too late
With small businesses accounting for $12.5 billion in overdue tax, it’s no surprise the Australian Tax Office (ATO) is reprioritising tax debt in order to balance the budget. From 1 July 2017, small businesses will risk outstanding debt being disclosed to credit agencies. While the measure will only apply to those businesses with an Australian Business Number and tax debt … Read More
9 Simple Steps To Prepare Employee Payment Summary With Xero
If you’re on Xero, providing your employees with their payment summaries and submitting them to the ATO has never been easier! From anytime after 30 June you can prepare your employee payment summaries. You must send to your employees by 14 July and to the ATO by 14 August. Check out these 9 simple steps below and you’ll be all … Read More
2017/18 Budget changes that may affect your business.
The 2017-18 Budget has been sold as a Budget of “choices”, with the Government making some clear-cut decisions about who to reward and who to penalise. While there’s much to be said about the complete budget, we’ve reviewed the key highlights that may affect your business. Want a printable version of this infographic? Click here. To view the full … Read More
How to minimise the risk of your Xero account being compromised
There are many benefits to using cloud accounting. Using cloud systems such as Xero delivers the flexibility of accessing your data from anywhere, at any time, and contrary to some belief, there can be a higher level of security than many small business networks. That said, we don’t deny cyber crime is becoming more sophisticated with an alarming increase in phishing scams … Read More
The relationship between profit, tax and cash.
Want a printable version of this infographic? Click here. Need help managing your profit, tax and cash flow? Let’s talk. Love the blog? Subscribe to receive it fortnightly. What do you think? We would love to hear your thoughts! Feel free to submit your comments below or comment on our Facebook Page or Twitter.
Save yourself a fortune with the right business structure
While not set in stone, choosing your business structure is one of the most important decisions you’ll make as a business owner. It will depend on many factors, for example, the type of business you have, whether you plan to hire employees, join forces with a partner and how you plan to develop your business in the long term. As … Read More
What gets measured gets managed: Setting effective KPI’s
Peter Drucker, one of the most influential commentators on business success, coined the phrase: “What gets measured, gets managed.” Essentially: measure the wrong stuff and you’ll waste time managing the wrong stuff. Understanding your business and using the data to make effective, strategic decisions is vital to the success of your business. Setting and managing Key Performance Indicators (KPIs) helps … Read More
5 business areas (other than tax) your accountant should work on
Choosing the right accountant is a big business decision. The relationship you have with your accountant should be one of your strongest and most important business relationships you’ll have, so choose wisely. Regardless of where you are in your business journey, your accountants’ expertise should not be limited to tax compliance. Not only should your accountant be proactive about saving … Read More
The four keys to successful business planning in 2017
As the New Year rolls over and we go full steam ahead, forward planning can be forgotten. To appropriately plan your calendar year in business there are four key areas that should be kept top of mind. Four key things to consider in 2017 Key dates From Business Activity Statements, to PAYG statements, to Super Guarantee Contributions, to tax … Read More
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