As I sit down to write this article, another city has again gone into lockdown due to COVID. A reminder of how quickly trading conditions can change despite the best-laid plans. There’s no time like the present to make sure you’re prepared for the looming end to JobKeeper payments on 28 March 2021. Here are …
Bye-bye JobKeeper. Here’s how to make sure your business is ready. Read More »
Now that we are well into bushfire season, and even flooding events have already occurred, it is timely to be reminded that as well as the more obvious immediate devastation inflicted on people’s property, destructive events such as fires or floods can also mean loss of income for the many affected people. This can come …
A business may no longer be required to lodge single touch payroll (STP) reports for a number of reasons. These are if your business no longer has employees, has ceased trading, has changed structure, is not paying employees for the rest of the year, or has paused due to COVID-19. Depending on your business’s situation …
Single touch payroll: When your reporting can cease Read More »
There is more to selling your home than putting up a ‘For Sale’ sign on your front lawn. Here are the first things you should check off your list to help you get a favourable result from your investment and to ensure the process runs as smoothly as possible. Choose a quality agent Asking family …
Selling your home? Here are the first steps to take Read More »
The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 on the labour market. …
A business plan establishes the goals and objectives of a business and outlines how they will be achieved. It is vital, especially for small businesses, to review progress and update processes to achieve targets. Business plans should include: Executive summary: Identify what your business mission statement is, outline your company operations, your management style, and …
The calculation of income tax for businesses becomes more complex as business activities and income streams grow. There are two primary considerations that arise when calculating income tax: assessable income and deductions. Assessable income This includes all aspects of income from all your business activities and any other business income: Cash income Cryptocurrencies Commissions, investment …
Partnering up with more established businesses can be highly beneficial for a small business. Taking the following factors into consideration will assist you in creating an effective partnership What do you want out of the partnership? Determining exactly what you want from a partnership will help you determine who the right partner is. Businesses have their …
The NSW Government is launching Dine & Discover NSW to encourage the community to get out and about, supporting dining, arts, and tourism businesses and stimulating spending in the economy. Businesses in NSW will be able to sign up for the Dine & Discover voucher program. How does Dine & Discover NSW work? Every NSW resident aged 18 and …
Dine & Discover NSW vouchers – what your business needs to know Read More »
Businesses should aim to move towards digitising their tax, super and employee-related documents as per recommendation by the ATO. Digital record-keeping has many advantages and can help to: Streamline accounting practices by utilising appropriate software so that you can focus on the business as opposed to ensuring the accuracy of manual/paper records. Keep track of …
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