Taxes – there’s no avoiding them. But there are ways to reduce the amount you have to pay so that your business is more profitable. All it takes is some preparation, planning, and the advice of a good tax specialist. … Read More
A developer who conspired to lodge fraudulent business activity statements has been convicted and sentenced to 10 years in jail with a non-parole period of six years and eight months. The developer was involved with two companies that formed part … Read More
If you want to implement a business plan to grow your business, you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and … Read More
The ATO has recently issued a reminder that small business owners may be eligible for concessions on the amount of tax they ultimately pay. This depends on their business structure, their industry and their aggregated annual turnover. For example, small … Read More
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they … Read More
The Administrative Appeals Tribunal (‘AAT’) recently held that a taxpayer should not be allowed deductions for various work-related expenses, largely because the substantiation requirements had not been satisfied. The taxpayer, a real estate salesperson, claimed tax deductions for the 2018 … Read More
Businesses tend to progress more consistently if the owner sets financial goals and makes a plan to achieve them. The new year is a natural time to decide what you want to achieve and how. With that in mind, read … Read More
Many people are working longer hours than they ever have before. Finding time for work-life balance can be challenging, but you must do it. Employees need a healthy balance between their jobs and personal lives to be productive and perform … Read More
Taking stock of how your business performed in the previous year is part and parcel of running a successful business. Updating your business and financial plans for the year ahead is the next critical part of the process. When you … Read More
Suppose you want to ensure you have enough money to get through each month without worrying about financial constraints. In that case, it is essential to be aware of the three main reasons you need to manage your cash flow, … Read More