How does an accountant save you money?

Turning a profit will be high on your list of goals as a business owner. And if you want to generate the best margins, that means keeping an eye on the money that’s going out of the business, as well as what’s coming in. So, how can your accountant help with this? The days when […]

Small Business Skills and Training Boost 2023

The Small Business Skills and Training Boost was announced on 29 March 2022 and became law on 23 June 2023. This initiative provides small businesses with a bonus tax deduction to help them train new staff and upskill existing staff. What do you get? Additional Tax deductions. Who is this for? Small businesses, check if […]

Understanding Your Profit and Loss Statement

Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be a […]

Have you got a plan for growth in your business?

Growth doesn’t need to mean more risk, more hours, and more headaches. It may be as simple as identifying where the opportunities for growth are in your business and industry. Once you’ve done this you can establish what you and your team are going to have to do in order to maximise these opportunities, and […]

How humour can increase your bottom line

You want to be taken seriously as a business, right? But did you know that many customers and consumers actually want you to give them a laugh as well? 91% of people globally prefer brands to be funny, but 95% of business leaders fear using humour in consumer interactions. So, how do you overcome the […]

Proving your ongoing business viability through 5 financial reports

Whether you’re applying for government subsidies, taking out a business loan or seeking investor support, you need to be able to demonstrate your ongoing viability as a business. To prove this viability, it’s important to have the right financial information at your fingertips. This information is also just as important for your own internal planning […]

Prepare for Finalising Single Touch Payroll

It’s nearly time to make a finalisation declaration for Single Touch Payroll. There is no need to issue payment summaries to employees you have reported through STP. Employers must complete the finalisation declaration by 14 July for employees. Employers with a mixture of employees and closely held payees have until 30 September to make the […]

Fringe Benefits Tax and Business

Benefits provided to employees or their associates in addition to salary or wages are known as fringe benefits. These benefits are paid for by the employer from pre-tax earnings, making the provision of benefits attractive to employees as it may reduce their taxable income while receiving payment in other forms. Fringe benefits tax (FBT) may […]

2023 Federal Budget Highlights

The Federal Treasurer Jim Chalmers handed down the 2023 Federal Budget on 9 May 2023. The following is a list of highlights from a tax and superannuation perspective. Businesses Individuals Multinationals Superannuation Tax administration GST and indirect taxes If you would like to know more information about any of these measures, please do not hesitate […]

Using data analytics to give your business a competitive advantage

Data analytics is rapidly changing the way businesses are operated. By making use of your financial and non- financial data, you can quickly start to gain a deeper insight into your operations, performance and financial management. Data-driven decisions are quickly becoming the norm, for even the smallest business. Data analytics helps you spot the patterns, […]