The Fair Work Commission (FWC) late last year has varied a number of modern awards that include annualised salary provisions. The decision has also introduced the provision for annualised salaries into some other awards for the first time. Whilst the actual specifics of the annualised salary provisions vary per award, there are some significant changes […]
Set Your Business Up For Success With The Right Structure
The structure of your new business has repercussions in terms of tax, costs and the protection of your assets. When you decide on what structure you’ll use, keep in mind your future plans, because this may impact your decision. There are three main structures you could consider. Sole trader: If you’re operating on your own, […]
Getting ready to exit your business?
When you sell up, you want your business to have as much inherent value as possible – so you get a good price, a great return on your investment and the best possible payout. So, how do you take yourself ‘out of the business’ as the founder, add the best value and set up an […]
Addressing Performance Niggles In Your Team
Performance niggles often fall into one category: Attitude, Skill, Knowledge, or Support. This is also known as The Performance Matrix. It’s up to us as leaders to develop an individual’s knowledge through training, coaching and systems, and to support an employee as they undertake their work, especially at the beginning of their employment. But knowledge […]
Natural Disaster Support Available For Organisations
If you have been affected by natural disaster, there are a number of support options available to you. The ATO recognises that you have more important things to deal with than tax and compliance affairs. Here’s a list of the support you could access: More time to lodge and pay ATO forms Fast-tracked tax refunds […]
Gift Cards And Vouchers Now Have Three Year Expiry
Gift vouchers can be a great way to attract customers, maximise marketing campaigns and increase sales – so long as you don’t get caught out by the new rules. Does your business offer gift cards or vouchers? If so, new laws came into effect on 1 November 2019, which you’ll need to adopt. Gift cards […]
Common BAS Errors will impact your business
Most activity statement errors are unintentional – even so, such errors can have a big impact on your Business Activity Statement. Unintentional errors may result in you paying too much GST or not enough. Whether you lodge the BAS yourself or whether you use our services to lodge, it’s useful to understand some of the […]
Are You Paying Too Much Tax?
Paying tax is an inevitable part of doing business. The more your income grows, the more tax you’re liable to pay. You’re rewarded for your success with a bigger tax bill. While we don’t want our clients to avoid paying tax or evade the tax department. We do want our clients to only pay the […]
6 Secrets To Getting Prompt Payment
If you’re struggling with late payments, and about half of small businesses are, here are some simple tips to try. Invoice without delay Your customer can’t pay until you’ve invoiced them, so make sure you send your bill promptly. Customers are also more open to paying when they’ve just received the goods or services that […]
