Small Businesses

Blog tagged as Small Businesses

The ABCs of bookkeeping

Why is good bookkeeping so vital for your financial management? We’ve got some top hacks for maximising your bookkeeping, and the options for outsourcing this job to the professionals.

RBizz Team

05/04/2024 05:04 PM - Comment(s)

Review your business expenses – and save

Need to cut your business expenses? We’ll review your current costs, find the expenses that could be cut, and will provide a proactive spend management programme to reduce your spending.

RBizz Team

03/02/2024 05:10 PM - Comment(s)

Changes proposed for DGR status and charitable giving rules

The Productivity Commission released a draft report reviewing philanthropic giving in Australia and recommending various reforms

RBizz Team

19/01/2024 02:34 PM - Comment(s)

R&D tax incentive claims — ATO flags questionable arrangements

The ATO has released 2 taxpayer alerts flagging incorrect R&D tax offset claims where expenditure is incurred by associated entities or activities are conducted overseas for foreign related entities.

RBizz Team

15/01/2024 09:33 PM - Comment(s)

ATO guidance on employee vs contractor debate updated

Updated ATO guidance means you need to understand whether your contract for services are to an employee or an independent contractor. Getting it right can save you significant hassles and penalties.

RBizz Team

05/01/2024 01:47 PM - Comment(s)

Contractor Rules for Medical and Allied Health Practices and Payroll Tax

If your medical practice pays contractors, you could be caught by tax laws that deem some contractor payments the same as wages. Talk to us today for guidance on what to include and exclude so you don't get surprised by a state payroll tax audit.

RBizz Team

20/11/2023 02:13 PM - Comment(s)

Indentify the relevant depreciating asset - ATO's guidance on composite items

The ATO released draft TR 2023/D2 which provides guidance on whether an asset that is made up of a number of parts or components (composite item) is itself a depreciating asset, or whether one or more of its components are separate depreciating assets.

RBizz Team

16/11/2023 04:05 PM - Comment(s)

Payday super to change how businesses pay their super

Aiming to provide better retirement outcomes for employees, from 1 July 2026, employers will be required to pay their employees super at the same time as their salary and wages.

RBizz Team

16/10/2023 05:31 PM - Comment(s)

Your business may be selected for ATO’s PAYG withholding compliance test

A lodgment reminder pilot program has been announced by the ATO, for 3,000 randomly selected employers - PAYG withholding amounts reported by them via STP will automatically become payable as at due date even if no activity statement is lodged.

RBizz Team

25/09/2023 06:43 PM - Comment(s)

Principal purpose of a commercial vehicle to determine application of Luxury car tax

The ATO has finalised the luxury car tax (LCT) determination LCTD 2023/1 which provides guidance on determining the principal purpose of a commercial vehicle for LCT purposes.

RBizz Team

14/08/2023 02:00 PM - Comment(s)

Claiming your bonus deduction for technology investment in the 2022–23 tax return

The small business technology investment boost wrapped up on 30 June 2023. For your 2022–23 tax return, we will be working with you to ensure you get the full bonus deduction that you are entitled to. Work through your next steps here.

RBizz Team

18/07/2023 02:13 PM - Comment(s)

Fringe Benefits Tax and Business

Do you offer your employees benefits in addition to salary and wages? If so, you may need to report FBT. Fringe benefits can help employees reduce their taxable income but you need to take care of the admin. Get in contact to learn more.

RBizz Team

20/06/2023 05:06 PM - Comment(s)

5 challenges for small business - and how to beat them!

Want to know how to beat the most common business challenges? We’ve highlighted five common challenges and the simple ways to overcome them.

RBizz Team

18/06/2023 04:12 PM - Comment(s)

Prepare for Finalising Single Touch Payroll

Prepare now for finalising STP payroll data by 14 July. Book a time with us today to check essential employee information, verify the numbers and confirm payroll categories are linked to the correct reporting fields before lodging with the ATO.

RBizz Team

15/06/2023 04:01 PM - Comment(s)

Which business expenses can you claim against tax?

Want to cut your business costs? We’ve highlighted the business expenses that can (and cannot) be claimed against your ATO tax bill.

RBizz Team

08/06/2023 04:23 PM - Comment(s)

Get set for a minimum wage increase

Get set for a minimum wage increase effective July 2023

RBizz Team

05/06/2023 03:18 PM - Comment(s)

Temporary full expensing is due to end soon – your tax deduction guide

As the end of the financial year approaches, the temporary full expensing rules will be coming to an end. Considering this, we explore the options that are now available for small and medium businesses to optimise their tax deductions.

RBizz Team

25/05/2023 05:41 PM - Comment(s)

Keeping your business cash liquid – the difference between cashflow and profit

Do you know the difference between profits and cash flow? We’ll help you understand why cash is king and how to improve your cash flow management AND profitability

RBizz Team

16/05/2023 03:18 PM - Comment(s)

What's the difference between financial accounting and management accounting?

Do you know the difference between a financial and management accountant? If you’re keen to grow, switching to the benefits of management accounting could have a huge impact on your future destiny.

RBizz Team

25/04/2023 03:28 PM - Comment(s)

Div 7A interposed company arrangements alerted by ATO

The ATO has initiated a crackdown on arrangements where an individual shareholder accesses profits of a private company in tax-free form through an interposed holding company.

RBizz Team

21/04/2023 04:11 PM - Comment(s)

Chartered Accountants Australia and New Zealand

American Institute of Certified Public Accountants CPAs.

Institute of Chartered Accountants of India.

Australian Securities and Investments Commission.

Partner with

MYOB essential cloud accounting software.

QuickBooks ProAdvisor Certificate. — QB ProAdvisor

What do our happy customers say about us?

Success Stories

I experienced a sea change in the approach and results of RBizz Solutions when we moved from previous accountant. We have outsourced all accounting functions of our medical practice to RBizz Solutions who manage them very efficiently. I found them approachable, experienced, professional and above all supportive. Their industry knowledge is commendable. In many instances I observed their practices technically advance and systems driven. I highly recommend them to other medical practices and doctors.

RBizz Solutions handled restructuring of our medical practice business very innovatively, efficiently and accurately. They professionally planned and executed all accounting and compliance processes. I found them responsive, proactive and caring. Their systems are advanced, established and efficient in producing meaningful reports. They highlight current and possible challenges in regular discussions and advise in an easy to understand manner. I am confident tin recommending their business accounting serviced to other businesses.

The approach of RBizz Solutions towards understanding the needs of clients and offering solutions which are fresh, practical and long-lasting is really commendable. I experienced them going all the way to find solutions which are not common. I availed their taxation services for our professional services business and myself. I definitely recommend them to all business and non-business clients.

For small businesses like us, RBizz Solutions have all the right knowledge, experience and tools for a very timely and authentic support. We have found them very friendly and approachable all the time. They take extra care in giving their best advice. The best part is, they keep client's benefit and satisfaction at the top. We highly recommend their services to other businesses.

We availed CFO Services of RBizz Solutions for our young pharmaceuticals business in setting-up financial management processes, reports and decision-making tools. I am impressed with their experience in easing the administrative, governance and compliance challenges start-ups generally face. They have very organized approach to their work. I sincerely appreciate and recommend their services.

In setting-up new company and designing a business structure appropriate to my industry, I took help of RBizz Solutions. Their knowledge and experience on start-ups is deep and futuristic. They advised me on certain aspects which a business must be clear for its long-term stability and growth. With great confidence in their services I will recommend them to new and established businesses.

Rbizz solutions assisted us in organizing our operations by setting-up new processes. With new processes all the instances of administrative lapses have been arrested. In short period of time the efficiency of our business processes has increased tremendously and it has also helped in preparing the performance reports in no time. We would recommend their services to other businesses who are looking for assistance in establishing seamless operations.

RBizz Solutions helped me in designing and setting-up billing, collection, accounting and reporting processes for my business in IT services. Their approach is very innovative. They focus on simple but advance solutions. Their knowledge of integration of systems is impressive. I am significantly saving my time and energy and being able to focus more on my core business. I am happy to recommend their services to any small business owner.