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, […]
Stepping back: Do you have an exit strategy for your business?
Owning a business can be brilliant, but you might not want to do it forever. Whether you’re ready to retire, want to cash up, or you just need a break, at some point you will probably want to move on from your business. Even before that time comes, you’ll need a plan for stepping back. […]
Getting your bookkeeping ready for a digital future
Keeping up-to-date records of your business transactions isn’t the most glamorous part of being an entrepreneur, that’s for sure. But having accurate and up-to-date bookkeeping is actually one of the core ways to keep your finances (and your business) under control. Digital bookkeeping is the future of your finance. The digital age has revolutionised the […]
Cash flow forecasting puts you back in control
We all know that positive cashflow is the beating heart of any successful business. And with so many external pressures on your cash right now, it’s important to have one eye on the future. Cashflow forecasting is an increasingly important tool for any finance team. With a better view of your future cashflow position, you […]
Budgets Are Boring – 5 Ways to Spend Less Without Budgeting
We hear you – making a budget can be so boring. However, they are necessary if you want to get a better handle on your cash flow management while also monitoring and reducing your spending. But if you’re really averse to making a budget, how can you cut down on your spending? Here are five […]
How to understand Your Breakeven Point
Calculating your business’ breakeven point is essential to understanding how much money is required to continue operating a viable business. This can help you make well-informed financial decisions and practical business plans for the future without causing strife. In short, the breakeven point is the income or sales needed to cover all costs. Any earnings […]
The Value of Cash Flow Forecasting During a Crisis
During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels. To be able to navigate the future path of your cash flow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to […]
Working from Home? Claim your home office expenses
If you have a home office for your business, you should be able to claim some of the costs involved in maintaining, owning and using your home. It’s important to be aware of what you can and can’t claim, and the record-keeping involved in making a claim. How does it work? In order to claim, […]
