How to Build an Effective Financial Plan for Your Business
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many […]
Cash Flow Advice for Small Businesses
Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management […]
3 Consequences of Avoiding Your Bookkeeping
If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is dangerous, however. Not knowing your […]
3 Tips to Make the Most of the End of Financial Year
Preparing your End of Financial Year (‘EOFY’) information often feels stressful—there are receipts to sort out and reports to review, and you need to make sure you have all the necessary information about your income and expenses. It can be overwhelming, and it can make the EOFY feel daunting. The end of the financial year […]
Cryptocurrency
Cryptocurrencies. Unarguably a new area of investment in the world and one in which many have struggled to quantify the tax consequences of. After many years of very little guidance from the Australian Taxation Office (‘ATO’), we have in recent months seen an outpouring of communication from them putting us on notice. They are finally […]
Foreign Income
Foreign income. An area which can cost the uninitiated dearly. Many (many) years ago, it was simple, if you worked and earned money overseas, and it was taxed in that jurisdiction, broadly speaking, that income was exempt from tax in Australia. Fast forward 10 years or so and it’s a different story. So here’s a […]
6 Vital Money Management Tips for First-Time Entrepreneurs
Financial management is a vital part of running a successful business, but often entrepreneurs start their business with little understanding of how to make solid financial decisions. Managing your finances is about more than bookkeeping and paying taxes—although those are also important to a sustainable business. It’s about managing cash flow, preparing for income fluctuations, […]
Important Change for Employers: Superannuation Guarantee increasing to 10% on 1 July 2021
A Quick Overview The Superannuation Guarantee (SG) is scheduled to increase to 10% from 1 July 2021. If you have employees, you need to be ready for this legislated increase. What is Superannuation Guarantee? The Superannuation Guarantee is the minimum super an employer must pay to their employees super fund. The current SG percentage rate […]
5 Tips to Get Out of Debt Faster
Living a debt-free life is one of the dreams of many people. However, paying down your debt is easier said than done. Some people struggle to keep up with their monthly bills and become overwhelmed with the amount of debt they have to pay. In these circumstances, it’s easy to “stick your head in the […]
Tips for Buying Your First Investment Property
There are many people who believe that when it comes to investing, nothing beats real estate. This may be true, but you still have to be smart when making your real estate investment decisions. Although investment properties can be a savvy financial move, there is plenty that can go wrong if you don’t fully understand […]