Blog tagged as Small Businesses

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.

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.

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

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.

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

Get set for a minimum wage increase effective July 2023

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.

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

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.

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.

The super guarantee rate will rise in July this year to 11%. Have you calculated the extra cost to your business? This rate increase may also affect salary packages. Talk to us now to start preparing for the changes, so you don't get caught out.

Looking for someone to guide your entrepreneurial journey? Your accountant could be the mentor you didn’t know you needed.

The general transfer balance cap is about to increase. Find out how this may affect your retirement plans.

Are you still wasting time on manual bookkeeping processes? We’ve explained why digital bookkeeping is the way forward for any serious business in 2023

As of 1st Feb, Paid Family and Domestic Violence Leave is a paid leave entitlement for employees of larger employers, and from 1 Aug 23 for employees of small employers. Talk to us to plan for changes to payroll provisions and costs.

Starting a new business in the retail industry in Australia can be an exciting and challenging endeavor. The retail industry in Australia is one of the most competitive in the world, and it's essential to have a well-thought-out plan in place before launching your business.

Holiday breaks are a time to re-charge for the year ahead. However, for some business owners, holidays can be a stressful time for cash-flow. Have you got the strategies in place to ensure you are in the best financial position this year?

Tracking stock levels, costs and profit on every product you sell can get pretty complex – no wonder so many businesses have a fuzzy understanding of their inventory. But inventory accounting is too important to ignore. We can help.

Have you thought about how artificial intelligence (AI) could help your business? We’ve highlighted five ways that AI tools can streamline your company’s operations.

Operators of sharing economy platforms will be required to report transactional information to the ATO from 1 July 2023. If you are operating in these platforms, make sure your information comes to us when we complete your tax return.