An increase to the superannuation guarantee (SG) is set to go ahead from 1 July which will see the base rate rise from 9.5 per cent to 10 per cent. Kurtis from 542 Partners breaks down what Employers should consider doing before the end of the financial year in preparation for the super rate increase.
Welcome to part 1 of our 4-part video series, arming you with the tools you need to prepare your business for life after COVID. To help manage the economic impact of the Coronavirus on businesses, the Government continues to provide financial support to businesses affected by COVID-19. This week, we discuss the Government stimulus packages and what financial assistance may be … Read More
For a while now, the general commentary around accounting has been around the rise in data entry automation spelling the death the traditional accounting industry and signalling the new approach to accounting. Significant technological change and a shift in the market has forced accountants to re-structure their service offering in an effort to remain aligned with the needs of their … Read More
Did you know we spend about 80 per cent of our lives working? Under the Long Service Leave Act 1955, once an employee reaches 10 years of continuous service with an employer, they become eligible for Long Service Leave. This time can then be taken by the employee for an extended break or in some cases can opt to receive a … Read More
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
The cashflow cycle is extremely crucial to any business, and the ability to stay afloat comes down to understanding your business cash flow cycles and managing this accordingly. Most business owners see growth as the solution to a cash-flow problem. That’s why they often achieve their goal of growing the business only to find they have increased their cash-flow problems … Read More
Continuing on with our October Payroll blog spotlight, this week we’re delving deeper into Payroll and the complexities around Payroll. Payroll can be challenging, regardless of the size of your business. Changes in state and federal tax and employment law can make Payroll and Payroll tax complicated and time-consuming. But being aware of these common complexities will ensure you manage … Read More