There are many expenses common to most small businesses, and there are other expenses that are specific to the nature of the goods or services the business provides. Are you claiming all the tax deductions that you are entitled to? Operating expenses include accounting, administration, advertising and marketing, office premises, office running expenses, trading stock, […]
Xero adds new features to help track work-related expenses
When your staff are working from home, how do you track their work-related expenses and get a clear real-time picture of your financials? Contractors are in the habit of recording business expenses related to the home office for tax reasons. Employees, however do not claim deductions because the employer pays for these expenses. Xero have […]
Tax Tips For Property Investors
If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2020 financial year. Income to Declare All income earned from each property must be declared. If you have multiple properties, keep the records for each property separate to make the tax return more […]
Lessons Learned In Lockdown – For Your Business And Life
Lockdown has been (and remains) a tough time for business. Having to shut your business at short notice, or switch to an entirely digital, remote-working model, was a stressful experience. But there are things we have taken out of lockdown. Whether it enabled us to explore new ideas or dive into some fresh thinking regarding […]
Raving Fans Are Like Business Ambassadors
Want to win new customers? Make sure you start with the ones you ready have. Studies show that the longer your customers stay, the more they’ll spend with you. Happy customers = loyal customers = boosted bottom line The term ‘raving fans’ relates to a passionate subset (usually about 10-15%) of your customer base, who […]
Issue PAYG Withholding Payment Summaries For Non-employees
Annual payment summaries or Single Touch Payroll (STP) finalisation declarations must be provided to your employees and any other people you have withheld tax for by 14 July. Start reviewing the year’s payroll and relevant payees now so that you can issue the payment summaries without delay. If you have withheld tax on behalf of […]
How To Make Your Retail Business Recession-proof
The world is going through some crazy times. Whether you’re still selling online, doing click and collect, or not selling at all — there are steps you can take now to minimise the impact of a recession or protect your business from it. Invest in digital transformation – When stores were forced to close, retailers that […]
What To Do With Your Website During A Crisis
With face to face trading either not possible or more difficult, your business website needs to step up. Many businesses have been thinking about adding an online shop for a while and the current crisis has created the impetus to launch into e-commerce. But even if you are not selling online, your website should still […]
Managing Change In Your Business
Successfully implement change in your business Research by Kotter International found that more than 70% of change projects within a business fail. Why is this? The research findings show that employee engagement is the biggest factor. Whether it is a small change to one or two processes, or a company-wide change, it’s common for staff […]
