Most business owners wonder how to claim GST for their business. Little do many realise that there are three essential elements to claiming a deduction for a business purchase in your activity statement. Check your eligibility If your business turnover is more than $75,000 per year, the Australian Taxation Office requires you to be registered for GST. 542 Tip: Registering … Read More
Do you know who you’re doing business with?
Whether you are a business owner working with other businesses, or a contractor or employee, there are signs to look out for that may indicate a company is involved in illegal phoenix activity. What is Phoenix Activity? It’s when a new company is generated to renew the activity of an existing company that has been deliberately liquidated to avoid paying … Read More
Your casual employees may be entitled to super
The ATO recently reminded small businesses about paying super guarantee (SG) to their casual employees, regardless of whether they are full-time, part-time or casual. If you’re not sure whether your workers are employees or contractors, use the ATO’s Employee/Contractor decision tool. You can use this to work out if your worker is an employee or contractor for tax and super … Read More
5 ways to shape up your business in 2018
It’s no secret that we love using the latest technology to improve our clients (and our own) efficiency and business processes. There’s nothing better than saving time (and therefore money) with clever technology. But sometimes, we adopt so much technology that it can have the opposite effect. Technology should supercharge your business life and not complicate it. Here are five mighty … Read More
Has the gift of giving cost you?
With the silly season behind us, we’re urging small businesses to check they didn’t extend their party invitations and gifts to the tax man. We don’t mean to sound like the Grinch, but it may be worth considering the following when rewarding your employees with gifts or parties at any time throughout the year. Know your Limits It all depends … Read More
Spotlight on Tradies: Solutions for 2018 and beyond
If our recent blog got you thinking, then we’ve got you covered. The New Year may be just around the corner but that doesn’t mean you can’t make some business resolutions now. To get you inspired, check out our top 3 ways to boost productivity and profits for a successful 2018. Get Your Business In Shape Money matters, so it … Read More
Spotlight on Tradies: Issues affecting trades people in business. What you need to know.
Long hours and physical demands characteristically common of tradespeople, often sees financial and business obligations not given the right amount of attention. As a result, in correct structures, missing legislative requirements and licences and paying penalties can play havoc with cash flow and hamper the path to success. Below we’ve outlined some common pitfalls many tradies face in business. Employee … Read More
Your Wish May Be Your Grant
We totally get it, starting a business from scratch is not easy. The time, money and sacrifice is usually underestimated and accessing the funding to accelerate your business idea can be tedious work. Last month we shared a compilation of Employing and Training Initiatives and Importing and Exporting Grants. This month we’ve uncovered five start-up grants worthy of your attention. … Read More
5 Xero Tricks Of The Trade You Need To Know Now
We know how precious time can be for small business owners especially when it comes to managing accounting, invoicing and billing. As official Xero Platinum Partners, we’ve collated 5 ways your small business can win back priceless time with our favourite cloud accounting solution. 1. Personalise your Xero home dashboard Scroll to the bottom of your home dashboard and click … Read More
Xerocon 2017: Wrapped
Last week Stu packed up and headed south of the border to chilly Melbourne, for Xerocon 2017. We joined other accountants and finance professionals to hear loads of exciting announcements, updates and innovations for advisors (that’s us!) and end-users (that’s you!) across the two-day event. Overall, Xero in 2017 and beyond is continuing its quest to be a more automated … Read More