Boosting Financial Stability: 3 Key Strategies for Australian Medical Practices’ Cashflow Optimisation
Medical practices are the backbone of healthcare delivery, providing essential services to patients in Australia. However, financial stability is crucial for the sustainability and growth of these practices. In this blog article, we will explore three key strategies aimed specifically at Australian medical practices, helping them enhance cashflow and achieve long-term financial success. By implementing […]
I Need a Pay Rise!
It’s July, start of a new financial year. For some it’s time to take time off, for others a time to reflect on the year that was and what we need to do for the coming one. I am no different, so, let’s do a little reflecting. At Venta, most of our focus for the […]
Working From Home Expenses – New Fixed Rate
There is a the new revised fixed-rate method for calculating working from home expenses that will soon apply – and not everyone will be happy. From 1 July 2022, employees who work from home can no longer use the 80 cents per hour “shortcut” method for claiming their related expenses. The revised fixed-rate method allows […]
Why Should I Lodge a FBT Return?
It’s a legal requirement to lodge a Fringe Benefits Tax (“FBT”) return if you are an employer and you provide fringe benefits to your employees. For many small businesses an often overlooked “employee” is the owner – they are included as an employee for FBT purposes and as such is an easy win for the […]
8 Tips to Help with Poor Cashflow
With costs rising at rapid rate of knots, it’s unsurprising to hear the biggest complaint for all businesses is the impact on their cashflow. With that in mind, here are our top 8 tips to help manage your cashflow: Create a budget and stick to it: this means it needs to be realistic and you […]
Are you sure your Healthcare practice is Payroll Tax compliant?
Assuming you haven’t scrolled straight past this article uttering the immortal words “well of course we are, Payroll Tax doesn’t apply to our set-up”…lets have a chat about Payroll Tax. In 2022 the ongoing case of Thomas and Naaz was brought before the NSW Civil and Administrative Tribunal (‘NCAT’). With the appeal ultimately denied largely […]
How to raise your prices
As prices continue to rise, you’ve likely noticed that your cost of doing business has increased as well. With that in mind, you may be considering raising your prices – as you should. After all, the main point of any business is to make money, and you can’t do that if you’re no longer breaking […]
5 signs you need to start outsourcing tasks
When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. Because a small business is so focused on survival, […]
How seasonal employees can benefit your business
When it comes to hiring seasonal employees, business owners tend to fall into two groups. Some look forward to hiring temporary workers, knowing that the need for seasonal workers reflects a business season. Some feel that it’s a necessary evil to get through times where the workload is heavy and the permanent workforce is lean. […]
Divisional Reporting…Beyond Tracking Categories
Today we’re heading off-piste a little and talking software. Whilst we normally focus our articles on what you can do to grow your business, in this article we’re taking a look behind the scenes and looking at the software you need to keep track of your business as it grows. The growth path for businesses […]