How late invoice payments can put your business at risk
Late payments hurt more than just your bottom line. Learn how to avoid them and free up cashflow with expert accounting advice. Read More…
How late invoice payments can put your business at risk
Late payments hurt more than just your bottom line. Learn how to avoid them and free up cashflow with expert accounting advice. Read More…
Part 2: More key performance indicators for your business
Read the second in our series on the KPIs that underpin business success and how a trusted accountant can keep you on track. Read More…
Understanding key performance indicators for your business
Do you know how well your business is performing? Discover the KPIs that underpin business success and how a trusted accountant can keep you on track. Read More…
Understanding the economic indicators that impact your business
Confused by the economic indicators shared in the media? Know the numbers that matter for your business with our back to basics guide. Read More…
FBT 2023 and hybrid workforces with SBG Accountants
For business owners, FBT 2023 might involve some complex calculations. Get across changing covid exemptions and keep your hybrid workforce compliant. Read More…
3 ways to increase business profit in 2023 with SBG Accountants
Discover 3 ways to increase business profit in a year of economic uncertainty by starting with sales, pricing and costs. Read More…
Sustainability and your supply chain
Sustainability profiles and reporting are key concerns for consumers and businesses in 2023. Ask your accountant for support to get and stay compliant. Read More…
3 superannuation changes you should know in 2023
Get up to speed with superannuation changes and stay compliant in 2023 with support from your accountant. Read More…
7 questions to ask your accountant in 2023
A new year is a new chance to set your business on a better path; ask your accountant these key questions to get ahead in 2023. Read More…
7 strategies to manage business costs in 2023
Get support to manage rising business costs in 2023 with 7 strategies including forecasting, reviewing recurring expenses, and debt consolidation. Read More…
Is your accountant cyber security savvy?
A cyber attack can end your business even if you aren’t the target. Get across cyber security standards and protection strategies to keep your business covered. Read More…
Keep up with new laws impacting your business in 2022
Get across the new SME privacy laws and other legislation changes to keep your business compliant in 2022. Read More…
Why a proactive accountant might save your business
Operating reactively is a trap for busy small businesses. Discover how proactive tax planning can protect and grow your SME through uncertain times. Read More…
Stabilise supply chain cash flow to survive rate rises
Keep your business cash flow moving through supply chain pressures, rising interest rates and inflation uncertainty. Make clear forecasts with the right financial and accounting support. Read More…
Employer deductions with a work from anywhere workforce
Managing a remote workforce in 2022? Get your employer deductions right to avoid paying more than you need to or unwanted attention from the ATO. Read More…
Retirement Planning - Top 5 things to think about for your retirement
Getting sound financial and accounting advice from professionals you trust will help set your retirement up for success. We've put together a list of things to consider to get your retirement planning organised. Read More…
Working from home? What you can and can’t claim
Working from home tax deductions can get complex. Know what you can and can’t claim to stay off the ATO’s radar this tax time. Read More…
Understanding small business CGT concessions
If you’re planning to sell any business assets, make sure you understand the small business Capital Gains Tax (CGT) concessions you’re entitled to claim. Read More…
What is business insurance and do I need it?
Having the right insurance for your business is a must. But what business insurances do you really need to give you peace of mind and ensure your assets are protected. Read More…
Federal Budget 2022-23 Overview
The 2022-23 Federal Budget is aimed at moving business into the digital era with both carrots and sticks in the budget. In this overview we examine what the impact of the Federal Budget will have on individuals and businesses... Read More…
The Marketing Essentials for Business Start-Ups
With the upheaval experienced to all aspects of our lives due to the Covid pandemic, it is not surprising many people are questioning their career choices and considering major changes. As a result, we are expecting to see a surge in business start-ups in 2022. New business owners often focus on the product or service offering, financial aspects or other mechanics of start-up whilst neglecting their marketing plan, instead of making it a priority… Read More…
The Key Ingredients for Business Success (Part 3)
In part one and two of this series of articles we identified the fact that there is no secret formula or magic potion that guarantees financial success in business, however, there are some key ingredients that successful businesses have in common. In part three we look at the importance of building a great team, having a lead generation website (including video content) and building a customer database... Read More…
Merry Christmas from Kelly+Partners Melbourne
Wishing all our clients and their families the very best for the Festive Season and a safe & happy 2022. Please note our offices will be closed from 5pm Thursday 23rd December and will re-open on Monday 10th January 2022. In the meantime, and in case you missed it, check out our latest Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes our second article in a series on What are the Key Ingredients for a Successful Business? As well as articles on the ATOs new Stapled Super Fund rules, an examination of why start-ups fail and info on the rules around the newly introduced Company Director ID Number… Read More…
ATO’s New Stapled Super Fund Rules – What Do Employers Need to Do?
Superannuation stapling came into effect from 1 November 2021 for new employees and employers will need to ensure their onboarding process complies with the ATO’s new ‘super stapling’ requirements... Read More…
The Key Ingredients for Business Success (Part 2)
Most people for one reason or another contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles. In this instalment, we look at the importance of marketing and systemisation... Read More…
Government Locks in Director ID Deadline
Are you a Company Director? The new Director ID regime is now law and existing company directors have until 30 November 2022 to apply but new directors appointed as of 1st Nov 2021 have just 28 days from appointment to apply and directors appointed 5th April 2022 onwards must apply prior to appointment... Read More…
The COVID-19 pandemic has impacted the way we live, work and play. While the pandemic has posed a threat to lives and livelihoods, there’s clear evidence that people have struggled to balance the hybrid work model particularly when combined with home schooling duties. After 18 months of uncertainty people are doing a lot of soul-searching and a chunk of the population are re-evaluating various parts of their lives including their employment and some are considering self-employment. In this article we examine the perils and pitfalls of going out on your own, and importantly, how to avoid them... Read More…
Preparing to Sell Your Business
It's an emotional moment when you finally make the decision that it's time to sell your business. All those long hours, customer dramas and financial risks will loom large in your mind, but the buyer isn't interested in how much work you've put into your 'baby', they want to see financial proof that the asking price is justified.... Read More…
In Case You Missed Our September 2021 Business Accelerator Magazine…
Don’t miss our latest edition of the quarterly Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes the first part in our series on The Key Ingredients of Business Success as well as looking at whether COVID-19 Grants are taxable and the ATO’s data-matching programme targeting lifestyle assets… Read More…
The Key Ingredients for Business Success (Part 1)
Most people at some stage of their lives, for one reason or another, contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles... Read More…
ATO’s Data-Matching Programme Continues to Focus on Lifestyle Asset Purchases
The Tax Office has now extended its lifestyle assets data-matching program for the 2020/21 financial year through to 2022/23 and expect to identify around 300,000 individuals each year… Read More…
Are COVID-19 Grants & Subsidies Taxable?
The State and Federal Governments have provided business owners with a range of grants and subsidies through the pandemic including the Cashflow Boost, COVID-19 Disaster Payments and JobKeeper. While you might think all government support is tax free, this is not the case... Read More…
Rent Relief for Victorian and NSW Commercial Tenants
The Victorian Government has announced the reintroduction of the Commercial Tenancy Relief Scheme. Businesses with an annual turnover of less than $50 million and who have experienced a decline in turnover of 30% or more due to the pandemic will be eligible as well as most ACNC registered charities that have experienced a decline in turnover of 15% or more… Read More…
COVID-19 Government Support for Victorian Small Businesses
Tougher COVID-19 restrictions came into effect in Melbourne on the evening of Tuesday August 16 including a 2 week extension of the state’s 6th lockdown, a 9pm curfew and the ban on the removal of face masks to drink alcoholic beverages in public. For small business owners, access to government support is a critical lifeline and there have been a lot of changes in the last month which we summarise here... Read More…
Support Packages for Victorian and NSW Businesses
Australian businesses are again feeling the pinch financially as the second year of the COVID-19 pandemic continues to unfold. Businesses along the east coast particularly are in a state of uncertainty - going in and out of lockdown like a swinging door. As a result, the Federal Government has expanded the range of financial support available... Read More…
New Company Director Identification Number
Attention all Company Directors - The Government has introduced a Director Identification Number (DIN) to provide greater transparency around the background of company directors and combat illegal phoenixing leaving creditors unable to recover debts... Read More…
2021 Tax Return – Home Expense Claims
The Australian Tax Office has indicated that several types of costs associated with working-from-home will not be eligible as a tax deduction… Read More…
Victorian Small Business Snap Lockdown Grants
Victorian Business Costs Assistance Program (Round Two) - with the snap lockdown commencing Thursday 27th May the Victorian State Government has announced Round Two of the Business Costs Assistance program which opened for applications today (Friday 4th June) and the Commonwealth Government has announced a Temporary COVID Disaster Payment for employees... Read More…
Tax Planning Strategies 2020/21 Year End
As we approach the end of the 2021 financial year, tax planning has never been more important and as accountants, we believe our client brief includes helping you minimise your tax liability within the framework of the Australian taxation system. Business planning is always challenging but planning with a pandemic in the background is incredibly difficult given the uncertainty, so for many businesses, the number one priority right now is cash flow... Read More…
2021-22 Federal Budget Summary
The Treasurer Josh Frydenberg released the Federal Budget on Tuesday May 11 and the focus is on recovery and investment to support job creation to drive economic growth. In this article we examine the main changes proposed around personal and business taxation as well as superannuation… Read More…
Recession Buster Newsletter #4
In this fourth edition of our Recession Buster Newsletter we continue to examine the 4 Ways to Grow Your Business, specifically the 4th way – Improving Your System & Processes. In other articles we explore the importance of having a website. Other articles include the 3rd part of Ways to Turn Your Website into a Lead Generation Machine - this particular article looking at the importance of a good headline, Live Chat function, Social Proof (Testimonials) & Social Media Links - and finally we look at mining your customer database for gold... Read More…
It’s Time to Work ON the Business, not just IN the Business
The challenge for every business owner is to create a business that works independent of them. As an entrepreneur you need to be flexible and multi-task but working ON the business can have a profound impact on your growth and profitability... Read More…
There is an old saying, ‘The most fertile source of insight is hindsight’. That being the case, what can business owners learn from the COVID-19 pandemic? Read More…
What Drives Your Business Growth and Profits?
Every business owner wants to grow their business and their profits. While there’s no secret formula or recipe, the fact is, business growth and improved profitability are outcomes achieved as a result of processes including marketing, your expertise, customer service and your team’s performance. Read More…
Here’s What Business Owners Need to Know About Australia’s Rollout of the Coronavirus Vaccine
With the rollout of Australia’s coronavirus vaccine well underway there are some key things that every small business owner needs to know... Read More…
Circuit Breaker Action Business Support Package
Victoria's business community has been greatly impacted by the COVID-19 pandemic and with the recent circuit breaker lockdown further impacting Victoria, the State Government has announced a further $143 million package to support impacted businesses... Read More…
Recession Buster Newsletter #3
In this third edition of our Recession Buster Newsletter we continue to examine the 4 Ways to Grow Your Business, specifically the 3rd way - Increasing the Average Sale Value. In other articles we explore the importance of measuring, monitoring & testing your business, Other articles include the 2nd part of ways to turn your website into a lead generation machine - this particular article looking at the importance of Lead Magnets & Calls to Action - and finally we examine the importance of goal setting and future planning... Read More…
The JobMaker Hiring Credit system announced in the 2020-21 Federal Budget has now passed into law and if your business is eligible and you hired additional younger employees from 7th October onwards, you can now claim the credit (quarterly in arrears) from the ATO from 1 February 2021… Read More…
Is it the Right Time to Start a Business?
With the media flooding us with COVID-19 information and governments around the world using vocabulary that is normally reserved for war time we know we are living in unprecedented times. Historically, business start-ups tend to surge when there are high levels of unemployment and middle management lose their jobs. Amongst all the uncertainty, is it the right time to start a business? Read More…
Recession Buster Newsletter #2
As businesses reopen, we are being confronted with a new ‘normal’. More people are now working from home and increasingly, staff and customer meetings are being conducted online rather than face to face. In the second edition we explore the 4 Ways to Grow a Business with a focus on the second way - How to Get Your Customers to Buy More Often. In other articles we look at how to turn your ‘electronic brochure’ style website into a lead generation machine and how to convert those leads into sales. Finally, we look at the importance of giving your customers a guarantee... Read More…
ATO Warns Business Owners About New JobKeeper Scam
The Australian Taxation Office (ATO) is warning business owners about the latest JobKeeper email scam to do the rounds, reminding SMEs to be wary of requests for their personal information... Read More…
Recession Buster Newsletter Edition #1
The COVID-19 pandemic not only triggered a global health crisis, it also plunged Australia into recession for the first time in three decades. As such, a lot of business owners are in unfamiliar territory and we are here to help you navigate your way through this extraordinary and challenging period...
2020-21 Federal Budget Summary
Treasurer Josh Frydenberg presented his second budget on October 6 in what was described as the, "most important budget since World War II". As expected, there is massive expenditure to reboot and stimulate the economy after the economic devastation brought on by the coronavirus pandemic...
Business Lessons From a Pandemic
As business owners, we need to learn from experience because history has a habit of repeating itself. Going forward we need to have a contingency plan in the event there is another virus outbreak or some other catastrophe … Read More…
When It’s the End of the Business Road
The Government’s Stimulus Packages have given thousands of businesses a lifeline during the Coronavirus crisis. Unfortunately, with many businesses still in lockdown in Melbourne, some businesses just won’t survive this time around. As accountants, our mission is to ensure you survive but if all avenues have been exhausted and it’s the end of the road, there are a number of things that need to happen to wind a business up Read More…
September Business Accelerator Magazine Now Available
Don’t miss our September edition of the Business Accelerator Magazine full of articles and news about growing and nurturing your business & strategies for the current crisis... Read More…
Car Expense & Home Office Claims
The ATO has announced a rise in the cents per kilometre deduction rate for motor vehicle expenses for the 2020/21 financial year. Effective from July 1, 2020 it will be 72 cents per kilometre. The tax office is expecting to see a drop in work-related car expenses claims due to the COVID-19 travel restrictions in the last quarter of the 2019/20 financial year ... Read More…
JobKeeper Payment Scheme - Extension and Changes
The Government's JobKeeper Payment Scheme has been extended and the eligibility criteria has also changed. The purpose of this article is to
help you make a quick assessment of your eligibility.
Read More…
Marketing in Preparation for a Post-Pandemic World
Businesses have been forced back into lockdown, for some maybe for the first time under the current stage 4 restrictions in Melbourne and one thing has become clear, it’s no longer ‘business as usual’. The world as we know it has changed and we have been forced to rethink our daily routines, spending habits, exercise regimes and social interactions. Many businesses will be in dire circumstances, but is this the time to be trimming your marketing, or just the opposite? Read More…
Post Pandemic – Survival Then Revival
The coronavirus has been labelled the biggest global crisis for three generations. The economy came down 50 floors in the ‘elevator’ and it will be much slower and harder going back up via the staircase. To help your business survive and prepare for the period of regrowth we have put together this list of items to consider Read More…
Temporary Early Access to Superannuation
As part of the Government’s response to the coronavirus and its financial impact on individuals, there is still a temporary opportunity for individuals to withdraw up to $10,000 from their superannuation funds before September 24th Read More…
Working Remotely? The Ins and Outs of Claiming Home Office Expenses
If you are one of the thousands currently working from home during the COVID-19 ‘shut down’, you may be able to claim a deduction for some of the expenses for your ‘office’ area. There are two parts to this, those employees working from home and businesses where their principal place of business is their home – effectively running their business from home. Read More…
American business magnate, Warren Buffet said, “Only when the tide goes out do you discover who’s been swimming naked.” When the economy is booming, we tend not to worry about our level of debt or expenditure on non-essential items. As the shock of the coronavirus wears off, it’s time to move into the planning phase and develop a clear strategy. The following checklist serves as a useful action plan ... Read More…
Tax Planning Strategies 2019/20 Year End
The 2019/20 financial year has been extraordinary and the number one priority for most business owners right now is cash flow, so tax planning has never been more important. With June 30 fast approaching you need to act quickly to ensure that we help you minimise your tax liability Read More…
Pivot, Adapt, Survive & Even Thrive - How to Pivot Your Business
Pivoting is something business owners normally do when they sense the business needs a change of direction. The COVID-19 pandemic's arrival with little or no warning has caused most Australian businesses, both big and small, to effectively go into hibernation. The question is, could your business benefit from pivoting in the current environment? Read More…
The coronavirus has been labelled the biggest global crisis for three generations and has stopped the economy in its tracks. Thousands of businesses have gone into hibernation and self-isolation rules have changed the way we live. Business owners face never seen before challenges and to help navigate your way we provide a checklist and other resources to help our clients Read More…
Important - JobKeeper Registration (not Expression of Interest)
There is a lot of confusion about the JobKeeper enrolment process for employers. Last week some 800,000 employers lodged an expression of interest for the JobKeeper Payment System but this DOES NOT mean you are enrolled. Read More…
The Government have announced a ‘Job Keeper’ Program that provides wage subsidy payments to Australian businesses who have seen their turnover reduce significantly as a result of the coronavirus. Registered employers will receive a flat $1,500 each fortnight for each eligible employee, including those that have been stood down or recently rehired. Read More…
Business Action Plan Checklist
Our clients are looking for help as the COVID-19 pandemic tracks towards being the greatest social upheaval the world has seen since World War II. The updates and announcements are coming at a breakneck speed. With some industries more severely impacted than others the question is 'What to do next?' In response, we have put together this action plan checklist Read More…
How to Recession Proof Your Business
Business owners are facing unprecedented challenges with uncertainty surrounding the COVID 19 (coronavirus) outbreak. The pandemic will eventually pass but the big question is, when and what can you do to minimise the damage? Read More…
Government Coronavirus Stimulus Package Take Two
Just 10 days after announcing its coronavirus stimulus package, the Morrison Government has released a second, beefed-up package... Read More…
COVID-19 (Coronavirus) & Government Stimulus Package
We are in unprecedented times.
Ensuring the health and safety of our team and client community is of the utmost importance to us, as is ensuring that we continue to serve
our clients with timely, relevant advice. Thankfully, with the investments that we have made in our technology and infrastructure
Kelly+Partners is prepared in the event that we are affected by the spread of the virus. Watch our video message...
Read More…
Bushfire Support for Small Businesses
The Federal and State Governments have announced a range of relief benefits for small businesses impacted by the recent catastrophic bushfires. Ranging from grant funding, concessional loans, financial support and other measures such as Land Tax relief in effected areas Read More…
Have you Purchased a Luxury Car, Boat or Racehorse in the Last 5 Years?
The Tax Office has lifestyle assets under the microscope, so if you’re in the enviable position of being able to purchase a luxury car, boat or thoroughbred horse, be aware the ATO is data matching to keep track of these purchases Read More…
The 5 Phases of Buying A Business
Happy New Year. Not just the start of a new year, it’s the start of a whole new decade. Is this the time for you to finally make that big change and buy that business you’ve been thinking about? Let’s examine the Five Phases of Buying a Business Read More…
Festive, Restive or Pensive? Your Christmas Cash Flow
Christmas time can be a make or break period for some types of businesses, retailers, accommodation, wholesalers & the information and communication sectors for example experience their peak sales at this time. For other industries this can be an especially tough time of the year with many business owners experiencing low demand, staff absences and supply disruptions... Read More…
December Edition of The Business Accelerator Magazine
Don’t miss our December edition of the Business Accelerator Magazine, full of articles and news about growing and nurturing your business Read More…
Proposed Superannuation Guarantee Amnesty Extension
Have you fallen behind on your Superannation Guarantee obligations? Legislation enabling the Superannuation Guarantee amnesty that was proposed back in May 2018 is before Parliament right now and if enacted, will apply from the original amnesty announcement ... Read More…
Employers - Be Careful! Don’t underpay your staff
There have been some much publicised, high-profile cases in the media recently regarding the underpayment of staff. How can this happen and how can you make sure your business doesn't join this “Rogue’s Gallery”? Read More…
Why Do Business Start-Ups Fail?
Businesses fail for a multitude of reasons. Lack of sales and cash flow, inadequate capital and failing to adapt to change can all contribute to the collapse of a business. Let's explore some of the major reasons why business start-ups fail. Read More…
We Have Some Important & Exciting News
After careful consideration, we have made the decision to join with Kelly+Partners, effective from 1 November 2019. This provides long-term security for all our clients and staff to be part of a large group that is leading the way with client services in Australia. Read More…
How to Improve your Website Ranking and Results
Consumer behaviour has changed and your website is now your marketing hub. In this article we look at three key website issues that confront most business owners - not enough website traffic, poor conversion of leads to sales and a lack of strategy… Read More…
What to Do About A Bad Google Review
We know we can’t please all of the people all of the time but with 72% of consumers reporting trusting online reviews as much as personal recommendations it can feel really damaging to receive a poor online review. Despite your instinct to try and get it deleted there are other courses of action open to you... Read More…
New Financial Year Brings Change
With the end of financial year now behind us let’s look at a couple of things to address to tidy up last financial year and plan for 2019/20. Namely - Single Touch Payroll and the Immediate Asset Write-Off Changes. Read More…
Tax Office Launches Tip Off Service
The Tax Office has introduced a Whistle Blower Hotline encouraging people to 'dob in' business owners they suspect are operating in the black economy. The Hot Line went live on the 1st July 2019. Read More…
Is Your Business Green & Growing Or Ripe And Rotting?
No business can afford to get complacent. If you are adopting the SALY (Same As Last Year) approach, you may discover your business is ripe and rotting, not green and growing…. Read More…
ATO Expects to Visit 1,800 Businesses in Black Economy Blitz
The Australian Taxation Office (ATO) has identified specific locations as ‘risk areas’ in each state to target small business looking for evidence of black economy activity. Is your business likely to be one of them? Read More…
Thinking of Renovating Your Investment Property?
Creating wealth through an investment property is a well-established practice in Australia. Of the approximate 9 million residential dwellings in this country, almost 25% are rental properties. Read on for our renovation tax tips Read More…
Happy New Financial Year!
Don’t miss our latest newsletter which is chockablock full of articles on:-
Tax Planning & Tax Return Checklists
The Federal Budget Round Up
Buyer Beware! – Before You Buy a Business
Thinking of Renovating Your Investment Property?
The Importance of Local Search for Small Business Owners
ATO to visit 1,800 Businesses in a Black Economy Blitz
And don’t forget, Single Touch Payroll becomes mandatory for all Australian employers from today – watch our short webinar in a previous
blog to bring you up to speed….
Read More…
Webinar on Single Touch Payroll
Welcome to our Webinar on Single Touch Payroll. In this webinar we outline what every employer needs to know about the introduction of Single Touch Payroll in Australia. Read More…
Buyer Beware - Before You Buy a Business
Buying a business can be rewarding, exhilarating, terrifying and exciting all at the same time. But Caveat Emptor! Let the Buyer Beware…. Read More…
As the end of another financial year approaches we have created a Tax Planning Guide for 2019 which highlights some end of year tax planning opportunities to help you minimise tax and take action on any items required pre June 30. Read More…
Starting a new business seems a daunting task. But take our advice, don’t be scared – be prepared. Here’s some guidelines in what you need to do when it comes time to let people know your new business exists. Read More…
WANT MORE WEBSITE TRAFFIC? How Small Businesses Can Leverage the Power of Local Search
Whenever you are looking for a product or service in your local area you are probably going to Google it. In this FREE Webinar and article we look at how small business can leverage the Power of Google's Local Search Read More…
Single Touch Payroll and Small Employers
In ‘the biggest compliance issue since GST’ small employers (less than 20 employees) need to get on board with the ATO’s Single Touch Payroll system from 1st July 2019 to report employee’s superannuation and tax withholding on a pay by pay basis. Find out what you need to do now…. Read More…
FREE Webinar on Starting a Business
Starting a Business is an exciting time, but there are so many things to consider it's hard to know where to start. In this Free 30 minute Webinar we examine the processes and pitfalls when Starting Your Own Business.... Read More…
The Foundation Stones of a New Business (Part 8) - Your Website
For a business start-up, your marketing could be the difference between boom, gloom and doom. In the digital and social age your website is the hub of all your marketing … Read More…
The Foundation Stones of a New Business (Part 7) - A Marketing Plan
For a business start-up, your marketing plan could be the difference between boom, gloom and doom. Let’s look at the marketing essentials to get you off to a flying start. Read More…
Happy New Year from SBG Accountants
The staff at SBG Accountants wish you every success for 2019. Wherever that road takes you financially this year we’ll be there to support
you. Dream big.
And if you’re thinking of Starting or Buying a Business this year, we’ll help you every step of the way....
Read More…
How to Reduce Your Business Risk
Running your own business can be rewarding. You get to follow your passion, choose who you work with and potentially make more money. It sounds irresistible with the flexibility, independence and freedom, however, there is a catch. There are risks but there are also strategies to help reduce those risks… Read More…
Ho, Ho, Ho! It’s coming up to the Holiday Season and you might be thinking of throwing an office break up party or providing your staff with Christmas presents. Without being The Grinch, there are Fringe Benefits Tax implications for both of these scenarios that you need to be aware of. Read More…
Cash Flow – The Lifeblood of Your Business
With Christmas and the holiday season fast approaching, businesses may find their cash flow suffering particularly if current invoices don't get paid until February next year. This can be catastrophic for seasonal businesses so let’s look at some ways to help improve your cash flow. Read More…
Tax Office Launch Mobile Strike Teams
The Tax Office has deployed what they refer to as "mobile strike teams" to uncover business owners attempting to avoid tax, especially to target the cash economy. With plans to visit some 10,000 small businesses in the 2019 financial year nationwide, this follows on from their earlier successful blitz of cash-centric suburbs around Australia. To this end we outline some of the common mistakes the ATO has recently observed. Read More…
Cents per Kilometre Rate Change
The rate for work-related car expenses has increased for the income year starting 1 July 2018. It is now 68 cents per kilometre.
This applies if you have chosen to use the cents per kilometre method for calculating work-related car expenses and will remain in place until the Commissioner decides it should be varied.
If you are paying your employees a car allowance in excess of 68 cents per kilometre, you need to withhold tax on the amount you pay over 68 cents.
Read More…
Financing Your Start Up Business
One of the most challenging aspects of starting a new business is sourcing finance. Once you know how much funding you require it’s time to explore your finance options and there are 6 sources of funding available. Read More…
The Foundation Stones of A New Business (Part 6) Legal Issues & Contracts
There are numerous issues to consider when starting a new business. In this article we examine one of the most important issues, the need for legal advice and guidance with contracts, leases and other legal matters. Read More…
Expand Your Customer Base With Facebook Advertising
Facebook remains every marketer's dream, with access to around 15 million users Australia wide. Advertising on Facebook may provide your business with the opportunity to expand your customer base without costing an arm and a leg. Read More…
Aretha Franklin, the Queen of Soul, recently passed intestate (no Will) leaving a purported estate worth US$80 million. A number of claims from interested parties have already been lodged against the estate, which highlights the importance of having a Will. Let’s look at the administrative taxation process involved when you’re left to deal with a loved one’s estate. Read More…
What’s on the ATO’s Hit List this Year?
The ATO has indicated they are casting a wider net when it comes to claims for home office expenses, work-related expenses and ride-sharing income. Find out what’s under the microscope this financial year. Read More…
Law Changes Impacting Business Owners
As a business owner and employer there are a number of legislative changes that came into effect on July 1, 2018 which you need to be aware of including Single Touch Payroll, the continuation of the Superannuation Guarantee Charge Amnesty, increased Minimum Wage Rates as well as changes to Penalty Rates and the Unfair Dismissal Threshold. Read More…
The Foundation Stones of A New Business (Part 5) A Business Plan and Cash Flow Budget
Eureka! You’ve had that brilliant idea for your new business. Before you can open your doors, there are numerous issues to consider and one of those important issues is having a Business Plan and Cash Flow Budget. Read More…
Don’t Be Tempted to Just Claim ‘Standard Deductions’ This Financial Year
The Tax Office warns individuals and business owners not to claim ‘stock standard’ deductions on their tax returns this tax time. Taxpayers mistakenly claim expenses not directly related to their work. Read More…
The Foundation Stones Of A New Business (Part 4) The Right Business Insurances
Before you start your new business there are numerous issues to consider. One of the most important issues is making sure you have adequate and appropriate insurances. Read More…
The Foundation Stones Of A New Business (Part 3) The Right Business Registrations
It’s exciting when you have that light bulb moment and you’re hit with an idea for your new business. Before you can open your doors, there are numerous issues to consider and you must navigate your way through a maze of rules, registrations and regulations. One of those importance issues is making sure you carry out the right business registrations. Read More…
How to Turn Your Website from an Electronic Billboard into a Marketing Machine (Part 3)
In this series we examine the 9 essential website features you need to convert your website from a static electronic brochure to a lead-generation Marketing Machine. In this article we look at the importance of Headlines, a Live Chat feature, Testimonials & Social Media Links. . Read More…
Don’t Leave Profit On The Table
Profit is the way we keep score in business. It is achieved through making the right management decisions and it impacts on your business valuation. You simply can't afford to leave any profit on the table. Read More…
2018-19 Federal Budget Overview
The Federal Treasurer, Scott Morrison, handed down his third Budget on the evening of Tuesday May 8th. We provide a round-up of the changes that may impact you or your business. Read More…
The Foundation Stones Of A New Business (Part 2) The Right Accounting Software
It’s exciting when you have that light bulb moment and idea for your new business. Before you can open your doors, there are numerous issues to consider and you have to navigate your way through a maze of rules, registrations and regulations. One of those issues is the right accounting and bookkeeping software. Read More…
End of Financial Year Tax Planning Guide
The end of another financial year is fast approaching. Our 2018 Tax Planning Guide for the end of the 2017/18 financial year highlights some end of year tax planning opportunities which you may wish to consider before June 30, 2018. Read More…
How to Turn Your Website from an Electronic Billboard into a Marketing Machine (Part 2)
In this series we examine the 9 essential website features you need to convert your website from a static electronic brochure to a lead-generation Marketing Machine. In this article we look at the importance of Calls to Action and Lead Magnets. Read More…
The Foundation Stones Of A New Business
It’s exciting when you have that light bulb moment and you’re hit with an idea for your new business. Before you can open your doors, there are numerous issues to consider and you must navigate your way through a maze of rules, registrations and regulations. One of those issues is the right business structure. Read More…
How to Turn Your Website from an Electronic Billboard into a Marketing Machine (Part 1)
In this series we examine the 9 essential website features you need to convert your website from a static electronic brochure to a lead-generation Marketing Machine. In this article we look at the importance of blogs, mobile responsiveness and video content. Read More…
A Reporting Change for Employers - Single Touch Payroll
All employers need to perform a headcount as at 1 April 2018 to determine when they need to implement the latest ATO digital initiative - Single Touch Payroll. Employers with 20 or more employees will need to start reporting through Single Touch Payroll from 1 July 2018. Let’s look at what employers need to be doing right NOW. Read More…
When Can You Access Your Super?
Can’t I use my superannuation? This is a very common question we get asked and in this post we look at what the government restrictions are on accessing your super and the impact of preservation age. Read More…
ATO Audits – A Blitz on Cash-Based Businesses
The ATO recently conducted a blitz in specific Melbourne suburbs and in other capital cities around the country where they identified a suburb as having 'high cash economy risk behaviours'. Due to its success, the Tax Office will maintain its audit focus on cash-based businesses. Could yours be next? Read More…
Half of Australian Small Businesses Don’t Have A Website - Surely Not!
According to a recent Telstra survey, only 50% of Australian small businesses have a website. Surely this can't be true! With the same report finding that 62% of customers will stop considering a small business if they can't find information about it online - there can be no doubt that having a website is a fundamental weapon in your marketing arsenal. Read More…
Franchising is big business in this country and while buying into a franchise can often be promoted as a ‘gold mine’, the reality is, franchises can also fail. Let’s examine some of the most important things you need in place when buying a franchise. Read More…
Cash is King, make no mistake, but managing cash flow remains a constant challenge for today's small business owners. In this article we examine the differences between cash flow and profit and the importance of understanding your numbers to maintain a positive cash flow. Read More…
Website Essentials if You're Looking for New Customers
Your marketing could be the difference between Gloom, Doom or Boom in 2018. We outline 4 Website Essentials you need if you're looking for new customers. Read More…
The Warning Signs of a Cash Flow Crisis
Cash flow is the life blood of any business. In fact, it can be the difference between success and failure with a lot of business owners walking a tightrope. Let’s briefly examine some of the most common causes of a cash flow crisis. Read More…
Industries with the Highest Work-Related Expense Claims
The highest expense claiming industry claimed three times more than average... This variation in work related expenses is significant and supports the fact that every industry is different. Read More…
What Is This Thing? This Inbound Marketing?
There has been a fundamental shift in the way consumers make their purchasing decisions. The availability of free, high-quality information online has changed the way consumers buy and Inbound marketing has replaced traditional Outbound marketing methods. Read More…
How To Build Your Email Subscriber List
As a savvy business owner, it’s important to use email marketing. The benefits of Email Marketing almost sound too good to be true – a 4300% ROI for starters! This article will guide you through the first step – how to build your email marketing subscriber list. Read More…
7 Trends Rocking Video Marketing in 2017
Video is no longer an option for businesses looking to grow, it’s essential. These are the video marketing trends that you need to be aware of in 2017 to stay ahead of your competitors. Read More…
What You Think You Know About Work Clothing Tax Deductions... Is Wrong!
Over the past five years, claims for uniform and laundry tax deductions have increased. The ATO had sat up and take notice. The ATO AC, Kath Anderson has stated that too many taxpayers’ beliefs around how to claim clothing deductions are wrong. Here, we provide helpful advice and tactics to ensure you're getting your tax deductions right. Read More…
Planes, Trains and Automobiles
You might be surprised to know the range of assets you can actually finance. While cars, trucks and equipment are items commonly financed, it is possible to finance boats, buses, planes, computers, dental chairs and office fit outs. Read More…
Tax Time: The Work-Related Expense Claims the ATO is Watching This Year
Australians claimed about $23 billion of work-related expense deductions in 2015/16, however, the ATO believe a significant proportion of this amount is the result of over claiming of expenses.
As a result, the ATO have stated that they will be monitoring higher than expected claims. These are the areas you should brush up on to keep your work related expenses clear.
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7 Deadly Wins to Lead Generation
Your website looks good, but it’s not getting visitors, generating leads and converting to sales.
The primary difference is that the brochure style websites are all about the company, while lead generation websites are all about the customer.
Let’s examine the seven must-have online marketing tools that can help you turn your old website into a lead generation machine.
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Airbnb is big and getting bigger. We answer the most common questions on the taxation implications, deductions and declarations around renting out all or part of your property on this very popular service. Read More…
Deductibility of Website Costs
When building a new website or investing in a website makeover or upgrade, it’s important to understand that not all website expenses are immediately fully tax deductible. Read More…
Disclosure of Tax Debts by ATO to Credit Reporting Agencies
The Australian Taxation Office (ATO) have for some years engaged external debt collectors to pursue small debts but they are changing their approach... Read More…
SMEs Come Under the ATO Microscope
Over 400 SMEs are about to receive a visit from the ATO as part of a crackdown on cash based businesses. Here are some ways to avoid attention. Read More…
Uber is looking for more drivers and Airbnb is seeking more hosts, but what are the implications of becoming part of this new 'sharing economy'? Read More…
Avoid These Common Errors on Your BAS
There is clear evidence that business owners continue to struggle to complete their Business Activity Statements (BAS). To help you we have identified three common errors... Read More…
Is Your Website Generating New Business?
It wasn’t that long ago that most websites were simply electronic brochures. They simply listed the who, what and where of the business but times have changed. Read More…
How to Get Your Business Off to a Flying Start
Starting a business can be a maze of research, registrations and red tape. No amount of passion can guarantee your business success but the proverb, ‘failing to plan is planning to fail’ serves as both great advice and a warning for new entrepreneurs. Read More…
More Website Traffic with Search Engine Marketing (SEM)
When Google displays its search engine results page they display three different types of results including organic, pay per click and local search results. Let’s explore how they all work. Read More…
Your website should effectively be your home base on the internet but how does it actually work and what is hosting and domain names? Read More…
Your Online Presence in the Digital Age
In the digital age your online presence could make or break your business. While your website should be at the hub, your digital presence needs to extend beyond a website. Read More…
Negative Gearing Traps Exposed
Over the years, negative gearing has become a specialist service in the firm and for that reason we have identified some common areas where property investors often trip up including claiming interest on loans. Read More…
Business Structures – The Family Trust
In Australia there are a range of business structures available and in this blog post let’s specifically look at the family trust option. Read More…
Thinking of Buying a Business?
Starting a business can be a mine field and the risks are high which explains why so many budding entrepreneurs look to buy an existing business or franchise operation rather than start from ‘scratch’. Read More…
Starting a Business – The Right Foundations
As any entrepreneur will tell you, starting or buying a business involves research, risk, passion and planning. To be successful you need to make the right opening moves and ... Read More…
Starting a Business - Do the Numbers Stack Up?
That ‘light bulb’ moment and idea for your new business is exciting but it's only the beginning of the journey for an entrepreneur. The moment of truth comes when start to list all the costs and ... Read More…
When you're investigating buying a business it's important to do a detailed review of the business's operations, finances, reputation and industry as part of what is called the ‘due diligence’ process. Read More…
Helping You With Your Online Marketing
As accountants, the number one thing our business clients want is advice to help them grow their business. In the digital age we believe the secret to growth is marketing and it could be the difference between boom and gloom for any business. Read More…
Grow Your Business by Increasing Process Efficiency
In this final post in the series we look at the fourth way to grow your business - increase the effectiveness of each process in your business. Read More…
How to Increase Your Average Sale
Every entrepreneur wants to grow their business but there's no simple formula that guarantees success. In this series of posts we are up to the third way to grow your business, how to increase the value of each sale. Read More…
How To Increase the Number of Times Customers Come Back
Clearly, everyone wants to grow their business. Unfortunately there is no magic potion or silver bullet but we do know there are only four ways to grow a business. In this blog we examine the second method, how to increase the number of times a customer comes back and buys from you. Read More…
Thinking of Buying a Franchise?
Franchising is big business in Australia and the perception is, it's a licence to print money. However, recent media reports suggest this may not be the case. Read More…
4 Ways to Grow Your Business #1
Everyone wants to grow their business, however, there is no 'magic marketing bullet'. Fundamentally there are only four ways to grow a business including, increase the number of customers of the type you want. Read More…
Lessons From the Shark Tank #3
I must admit I don’t watch a lot of television but I did enjoy the latest Australian season of Shark Tank where budding entrepreneurs seek funding from a panel of wealthy investors (the sharks). While it’s another form of reality TV the show does provide business owners with some valuable business lessons. In this edition we ask the question, should you swim with sharks? Read More…
Lessons From the Shark Tank #2
I must admit I don’t watch a lot of television but I did enjoy the latest Australian season of Shark Tank where budding entrepreneurs seek funding from a panel of wealthy investors (the sharks). While it’s another form of reality TV the show does provide business owners with some valuable business lessons including the importance of knowing your numbers. Read More…
Lessons From the Shark Tank #1
I must admit I don’t watch a lot of television but I did enjoy the latest Australian season of Shark Tank where budding entrepreneurs seek funding from a panel of wealthy investors (the sharks). While it’s another form of reality TV the show does provide business owners with some valuable business lessons including the importance of business planning. Read More…
We have been inundated with queries regarding the accelerated depreciation write-off for assets up to $20,000 acquired by small businesses since it was announced in the May budget. Read More…
2015 Federal Budget Information - Great News for Small Business
Last night the Treasurer Joe Hockey handed down the federal budget and stated, “Our future growth will come from growing small business into big business” There is no doubt that small business was front and centre in this budget that according to the Treasurer, “empowers small business to invest, grow and create jobs.” Read More…
Respond to Your Customer Needs!
At the start of 2013 we noticed about 10% of our website traffic was coming from hand held mobile devices. By late 2013 this figure had jumped to about 15% but in 2015 we find close to 25% of our website visitors are using mobile devices. Why is this important you might ask?
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Thinking of Starting a Handyman Business?
Starting a handyman business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age. Read More…
Thinking of Starting a Plastering Business?
Starting a plastering business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age. Read More…
Thinking of Starting a Painting Business?
Starting a painting business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age.
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Thinking of Starting an Electrician Business?
Starting an electrician business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age. Read More…
Thinking of Starting a Plumbing Business?
Starting a plumbing business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age.
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Thinking of Starting a Carpentry Business?
Starting a carpentry business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age. Read More…
Thinking of Starting a Building Business?
Starting any business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age. Read More…
In this blog I’m going to discuss the seven features your website needs to stand out in the crowd. These features have the potential to give your business a serious competitive edge in your industry. Read More…
Thinking of Starting a Trades Business?
In this blog we will going to examine the 4 things every builder, plumber, electrician or tradesman needs to know before they start their own business. Read More…
What You Need to Know Before You Set Up a SMSF
In this blog we will explain what a Self-Managed Super Fund is and some of the advantages and disadvantages of having your own Self-Managed Super Fund. Read More…
What Accounting Software Suits Your Business?
In this blog we are going to look at what you need to know before you select an accounting software program to use in your business. We will then look at specific software programs on the market including MYOB, Xero, Reckon, Saasu and Cashflow Manager. Read More…
The 5 Things Every Investor Needs to Know about Negative Gearing and Property
Before you buy an investment property there are five things every investor needs to know about ‘negative gearing’. Read More…
The 5 Things Every Business Start Up Needs to Have Before They Launch
Starting a business is a bit like a game of chess, to succeed you need to make the right opening moves. Let’s look at five opening moves you need to address before you launch your new business. Read More…
Registrations for a Start Up Business
The types of business registrations you will require will depend on a number of issues including your type of business structure, your anticipated turnover and whether you also intend to employ staff. Read More…
Alternative Business Structures
In this blog we are going to examine some of the most popular business structures used in Australia. Let me say upfront, it’s almost impossible to recommend a particular type of business structure without an understanding of your business, your industry, your family structure and your personal financial situation. Read More…
Is Your Business Structure Just Another Brick In Your Business Wall?
When it comes to business structures, a lot of business owners think like Pink Floyd, “All in all it's just another brick in the wall”. However, your choice of tax structure is a key part of your business foundations … Read More…
Is Accounting Software Just Another Brick In Your Business Wall?
When it comes to accounting software, a lot of business owners think like Pink Floyd, “All in all it's just another brick in the wall”. However, your choice of accounting software is a key part of your business foundations and one size does not fit all …
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Are Registrations Just Another Brick In Your Business Wall?
When it comes to business registrations, a lot of business owners think like Pink Floyd, “All in all it's just another brick in the wall”. However, the right business registrations is a key part of your business foundations and you can’t afford to miss one …
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Is Planning Just Another Brick In the Business Wall?
When starting a business, failing to plan is planning to fail. Having a business plan and blueprint for the future is a key part of your business foundations … Read More…
Is Insurance Just Another Brick In Your Business Wall?
When it comes to insurance, a lot of business owners think like Pink Floyd, “All in all it's just another brick in the wall”. However, your choice of insurance is a key part of your business foundations. For business start-ups, insurance can seem like just another expense in a long line of costs, however … Read More…
It's Time to Grow Your Business Online
Marketing and consumer behaviour has changed. You can now buy almost anything online and for most businesses, your website is your silent sales person working 24/7 to generate leads and sales. Read More…
When You Employ Your First Staff Member
As a business owner there are a number of issues you need to address when you employ your first member of staff. Read More…
3 Steps to More Online Traffic, Leads and Sales
In the last few years consumer behaviour has changed. We now buy books, music, electronics, shoes and clothing online. In fact, you can buy almost anything online and people even buy professional services online including accountancy services. Read More…
Video Killed The Radio Star... But Can Grow Your Business
Video is now a critical part of the marketing landscape and YouTube is the second biggest search engine behind Google. Online video content is 'white hot' and it is important not to ignore this shift in consumer behaviour. Read More…
Thinking of Starting a Business?
Once you have had that ‘light bulb moment’ and come up with that brilliant idea for your new business you want to get started in a hurry. However, before you make any big financial commitment you want to make sure the concept has ‘legs’. Your choice of business structure is a critical decision ... Read More…
Small Business Networking Tips
Are your networking skills up to speed ? If not here’s some tips on to maximise your time invested in networking and gain the best results.
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Are You in the Building & Construction Industry?
The first taxable payments annual report for clients in the building and construction industry are due with the ATO by August 25 if you are lodging through our office. For other businesses who pay contractors for building and construction services in the 2012/2013 financial year the due date of this report was July 21, 2013.
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Before You Pull the Business Trigger
Over the years we have assisted numerous clients looking to start a business. In fact we are recognised as start-up specialists and along the way we have identified some of the key issues that every budding entrepreneur needs to address in the start-up phase. The press sometimes over simplify the issues but it may come as a surprise to learn that they extend way beyond your choice of business structure, accounting software selection and various business registrations. Before you pull the trigger on your business start up consider this ...
Read More…Just as evolution in animals dictates that only the fittest survive, in a recession it is generally survival of the smartest.
In this country we seem to have a recession-like economy happening every seven to nine years and almost 75,000 Australian businesses were wiped out in the last downturn. To survive business owners must find a way to plan their way past potential threats including rising interest rates and fuel prices plus declining consumer confidence.
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