“I own a business and this is my dilemma…It’s a family business but it’s time for us to think about moving on. The problem is, we’re not sure who should take it over. Should we keep it in the family? And how do you choose the best person to run the business without creating a …
With 31 March and the end of the Fringe Benefits Tax year just around the corner, now is the time to take advantage of last-minute tax planning opportunities. Below is a summary of the most common types of fringe benefits, and their tax treatment: MOTOR VEHICLES This is the most common fringe benefit, and …
The Australian superannuation system is a fantastic option for everyone, allowing you to set up for a comfortable retirement. In fact, it’s one of the best retirement systems in the world. The 2020 Mercer Melbourne Global Pension Index has Australia ranking fourth out of 39 countries! There are several ways Australians can invest in their financial …
Every business thinks it’s running efficiently until it hits a snag. Big or small, the issues organisations face are tough to foresee. Management reporting can help. Management reports offer business leaders an analytical perspective of their internal personnel and processes. Using key performance indicators (KPIs) and other data, the statements attempt to provide actionable steps businesses can …
At the end of the day, it is every company’s goal to find success in some capacity. Often that achievement is multi-pronged; businesses want both clients and employees to be happy, while also meeting their own financial objectives. Operating an organisation is not an easy feat, however, and there’s a fair amount of insight companies …
3 business service components your company strategy needs Read More »
The end of year period is a busy time for everyone, not just at work but preparing for the holidays and the New Year.We are all hoping 2021 will be a better year for businesses and taking some time for business planning can get you prepared for 2021. If business owners have learnt anything throughout …
Employers may want to reward their employees with gifts during the holiday season but may be concerned about whether fringe benefit tax (FBT) applies. As a general rule, minor benefits (such as gifts) are exempt from FBT. To be considered a minor benefit, each individual benefit must have a ‘notional taxable value’ and it must …
A seasonal pricing strategy will help you minimise loss of cash flow in low periods and maximise profitability in peak seasons.Changing your pricing will help you capitalise on your target market’s spending habits. Keep in mind that creating a supporting marketing campaign to bring awareness to your price change or seasonal deals will be critical …
Australian charities earned a combined $142.8 billion in 2016. Delving deeper, nearly 45 per cent of this income was generated through government grants, according to the Australian Charities and Not for Profits Commission (ACNC). This shows the vital importance of government funding in the sector. But Australian Government grants for Not for Profit (NFP) organisations are not …
3 tips for securing Australian Government grants for your Not for Profit Read More »
With consumers becoming more dependent on online reviews to inform their decisions, it is increasingly important for businesses to manage negative feedback with consideration and tact. Online reviews are often the first impression a consumer has on a company, with almost 90% of consumers saying that they check reviews for local businesses. Investing in online reputation …
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