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For a small business, it is paramount that marketing is essential to your profitability and growth. How do you determine how much to spend on marketing? If you choose to ignore spending money on marketing at your own peril! Your marketing budget should not be based on what’s arbitrary or token after though depending on Read More
Christmas comes only once a year. Santa’s guide to Small Business Christmas chaos! As a small business owner, many don’t have time to sit and drink champagne, it’s go go go not ho ho ho! Santa is making a list and so should you! It’s a great time to make money, sales and plan for 2019! Read More
The Federal Government has announced a Grant to assist small business address IT security issues The Cyber Security Small Business Program will support small businesses across Australia to have their cyber security tested by a provider that has been approved by the Council of Registered Ethical Security Testers Australia New Zealand (CREST). A couple of Read More
Hopefully you have time before Christmas to let your hair down and celebrate a great year at your small business! In the lead up to planning your work Christmas party here is some important information to consider. You can’t file the staff Christmas party under ‘staff amenities’, in addition inviting your clients to your party Read More
Why do you want to start a new business? Many of us launch a new business based on an idea or a need to sell our professional or trade expertise. Starting a new business will provide you with new challenges and opportunities! It’s fun, it’s exciting and it will be rewarding. Whatever your reason for Read More
Inheriting assets and what is the correct CGT treatment? When a person dies, there are a number of ways that the estate can treat the deceased person’s Assets for Tax purposes. Many taxpayers don’t realise that when they receive an asset from their long lost auntie, they may have to pay Capital Gains Tax when Read More
New Travel rules for rental property! From 1st July 2017 S.26 – 31, will deny any deductions for landlords expenditure in earning assessable income from residential premises if it is attributable to travel(of all types) The new rules cover travelling to collect rent or to inspect or maintain the property Costs cannot be recognised in Read More
September Quarterly PAYG instalment notices are due on 28th October. Many taxpayers earning non-salaried income – e.g. income from business and investments will have received their September 2018 Quarterly Instalment notices. The PAYG instalment relates to tax payable towards your 2019 year-end tax i.e – due in most cases May 2020 when you lodge your 2019 Read More
So why can’t I claim my spa and sun lounge as in summer I work from home in the spa with my laptop? The ATO over the years have seen some outrageous claims based on peoples idea of how they work and how they justify their home office claim Many are encouraged to work from Read More
When starting out make sure you research the market you will supply before commencing a business, from both a customer and supplier aspect! Supplying goods from overseas can be a strategic business, especially if you are importing products not available in Australia, but take care as it requires careful planning. There are various requirements about Read More
Small business needs to continually review its labour costs to ensure they are getting the best results for their net profit We are often asked should we allow overtime or employ more people? Using overtime for times of high activity within your business can be great for short-term results Often the need for overtime arises Read More
Setting Up Products and Services Your products and services that your business sells make it unique and special. The same thing is true of how these items are set up in your accounting software. Whether you’re using XERO, MYOB QuickBooks Online or something else, getting your products and services set up right can impact Read More
Exit planning for couples brings its unique challenges and opportunities as romance intertwines with business. Working as a romantic couple brings pleasure, frustration and opportunity all rolled up into one package. Sometimes it just doesn’t work for some, but for those were the sparks fly, business booms and it all comes together it’s a special Read More