5 ways to combat inflation
It seems that every news outlet is sounding the alarm about high inflation these days. While it might sound like it’s time to panic, you don’t have to. With a few adjustments, you can handily fight off inflation and possibly even benefit from the current economic climate. Read on to discover 5 ways you can […]
6 Reasons Why You Should Raise Your Prices
There comes a time for every small business to raise their prices. While it may seem scary, remember that it’s your job to keep prices fair, both for you and your customers. That means you have to charge prices that work for you and allow you to remain in business. Read on for six reasons […]
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 […]
How to keep your finances on track
When it comes to your finances, it’s a good idea to check in on your progress periodically, to see if any adjustments to your budget or changes in your habits are necessary. Even if you’ve set your budget for the year, you may learn a new strategy or have a priority come up suddenly that […]
6 Benefits of long-term investing
When it comes to an investment strategy, there are an almost endless number of paths you can take. Depending on your overall priorities, needs, and values you can follow any established formula or set your own path. One path that has numerous benefits is long-term investing. In long-term investing you put your money in an […]
How to choose the best investments for you
The world of investing is daunting for many people. There’s so much to learn and a lot of terminology that isn’t part of the everyday lexicon. Dividends, EPS, historical returns… and what exactly is an NFT? But once you’ve mastered the basics and the language of investing, there’s another question at play: how do you […]
How to manage payroll effectively
Payroll is one of those things that starts out simply enough. You start your business, hire a few employees, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is… they grow! This is a great thing, but it also means that payroll […]
The Importance of Cashflow Forecasting
Cashflow forecasting and budgeting. Two things which many businesses, especially in times of plenty, tend to put on the back burner. But why is this? After all, a cashflow forecast is a report which identifies the expected flow of cash over the short, medium and long term, and a budget reports where the management of […]
Changes to Common Trust Distributions – The ATO’s Updated Position
In 1979, s.100A was introduced into the Income Tax Assessment Act 1936 (‘ITAA36’) by the then Treasurer, the Right Honourable Mr John Howard. It’s primary purpose as explained in it’s Explanatory Memorandum, was to prevent tax avoidance by trusts via the introduction of low tax or exempt from tax beneficiaries in such a way as […]
Fringe Benefits Tax…a sleeping giant?
Over recent months it has become increasingly apparent the ATO is intent on focusing on a strict adherence to the tax law in an effort to lessen the Government’s cash shortfall created by the various COVID-19 payments. An area overlooked by many small businesses (and Tax Agents) alike, is Fringe Benefits Tax (‘FBT’). This is […]