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The NSW Government is launching an initiative to make home ownership more achievable for single parents, older singles and key worker first home buyers.
Getting your pricing strategy right is a critical part of business. Finding your pricing sweet spot can take time. Keep reading for five signs that you might be undercharging.
An investment in employee development is an investment in the future of your business. It’s also a sign that you want to support the careers and progression of your people.
When your business needs new plant or equipment, what’s the best choice – buy or lease? There are some basic considerations that can help you weigh up the options.
Thanks to compound interest, a little can go a long way. The earlier in your working life you start paying attention to your superannuation, the better off you will be at retirement. Most importantly, it's never too late to take action to grow your super!
Having a healthy workplace that support mental health and builds resilience is a win-win for employers and employees. Keep reading to look at ways leaders and managers can take steps to care for wellbeing and mental health in the workplace, support employee wellbeing, and build an open and supportive company culture.
The Fair Work Ombudsman and the Australian Taxation Office are actively investigating agribusinesses payroll records. If you are currently managing your farms payroll on a spreadsheet or paper-based records it may be time to convert to digital records.
Each year the ATO publishes industry-based data to highlight specific ratios of financial and other types of performance. Comparing your business performance against these benchmarks can be a useful exercise to see how your business is performing.
The Australian Government has introduced paid family and domestic violence leave for all employees. Next year, employees will be able to access 10 days of paid family and domestic violence leave in a 12-month period. This includes casual and part-time employees.
Keeping your data safe can be a big worry for Australia's digital businesses. Recent high profile data breaches have put the spotlight back on cyber security. Now's the time to get your cyber security reviewed, updated and tightened.
The building and construction industry is complex and has been hit hard recently. Getting the right administrative tools and software can ease the pressure that many are facing.
The Federal Treasurer, Dr Jim Chalmers, handed down the Labor government's first Federal Budget on 25 October 2022. Here are the highlights of some of the tax and accounting measures announced.
Is your business ready to scale up? Have you prepared with a viable scale-up plan with costings and budgets and achievable targets to meet?
The income test to qualify for the Commonwealth Seniors Health Card will increase to $90,000 a year for singles (up from $57,761) and to $144,000 a year for couples (up from $92,416).
It's never been more important to have a good grasp on your business finances to track, monitor and drive your financial performance. What are the key reports to focus on in your business?
If you're just starting in the workforce, it pays to learn about superannuation and how to make the most of it. Keep reading for some useful tips to get going on the right foot.
Getting paid late is bad for business. It constricts cashflow and sometimes even has the flow on effect of you missing your own bill deadlines. Fortunately, there are ways to minimise the pain of debtor follow-up. Here are 6 tips to help you get paid faster.
Knowing what your customers want helps you meet your growth targets. We’ve outlined 5 ways to improve your understanding of your customers, through better data, analysis and feedback.
A crystal ball would be handy in business. Good-quality forecasting can be just as useful, giving you an informed view of the future of your business and finances.
None of us truly know what lies around the corner. Sudden unexpected threats can catch you on the hop. A business continuity plan will help you to deal with situations that can otherwise derail your usual operations.
The foundational goal of any business is to make a profit. What is the difference between profit and cashflow and why is "cash king"?
We’ve all been doing a lot more remote working in recent times. Have you thought about the security implications of using your device on a public network?
From 1 July 2022, there are several changes to superannuation laws that you may be able to take advantage of. Keep reading to find out more.
Do you have new employees? Do you know about the new 'choice of super' rules? If you have any new employees that don’t nominate a specific superannuation fund, you may need to request their ‘stapled super fund’ details from the ATO.
The NSW Government has announced changes to stamp duty for first home buyers. The aim is to lower the up-front costs that are a barrier for many first home buyers entering the property market.
Make sure you are getting the most out of your investment property. If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2022 financial year.
Need help with maximising your business deductions? There are many expenses common to most small businesses, and there are other expenses that are specific to the nature of the goods or services the business provides.
Keeping on top of payments coming and going to your bank account can take a lot of time. Keep reading to better understand the bank reconciliation process and how software tools can alleviate this task.
Do you know which business metrics and key performance indicators (KPIs) to track to manage the future path of your business?
Do you check your supplier ABNs? Many business owners don’t routinely check the ABN of suppliers, resulting in incorrect GST claims – either claiming too much or not enough. Now is a good time to review supplier ABNs and GST status.
When an employee leaves your business, it's essential to get the payroll and tax correct so you don't disadvantage employees or make costly errors.
Invoice fraud is on the rise. E-invoicing is the secure way to send and receive invoices and to protect you and your customers.
The 2022-2023 Federal Budget provides cost of living relief and measures for business to seek to promote innovation. Read more on the key points from the budget here.
Online shopping is hitting new records, growing dramatically and gaining new users. Is your business getting its slice of the online pie or do you need to invest more in your online presence?
Is a self-managed super fund something you're thinking about? Learn about some of the responsibilities that come with a self-managed fund.
Has an employee ever requested to cash out their annual leave entitlement? As an employer, there are some important rules to remember before paying out annual leave, to ensure your employees are not disadvantaged.
Are your ABN details up to date? The ATO may automatically cancel your ABN if they think the business has stopped trading. Talk to us to make sure the ATO has current information.
As a business owner, it is critical that you give yourself the best chance to get paid as soon as possible whilst maintaining client relationships. Some simple strategies can help this process.
Understanding tax on super can be complicated. We can help you get your ducks in a row! Minimise your tax and make the most of super with simple strategies.
Regular cashflow forecasts help you make informed decisions and are important regardless of whether your farm is in growth mode, expansion or just trying to stay afloat.
The NSW Government has announced a new Small Business Support Program as well as additions to previously introduced support program to help those small business hardest hit by the Omicron wave.
In the digital world, your company website is your main ‘shop window’ and will be the focus of much of your sales, marketing, and social media promotional activity. Do you know how your website is performing, and where online visitors come from?
Effective goal setting will help you get the very best out of the year. Whether you want to grow your business or take more time for yourself, our five goal setting tips can help you achieve your long-term plans.
According to recent research small and medium-sized businesses are spending on average 120 hours a year on admin tasks. Technology and software automation can go a long way towards automating the low-level admin tasks.
There are a significant number of major projects happening in our region. These projects provide great opportunities for our local businesses across many industries. Do you feel like you don’t know about opportunities, or you don’t know how to apply to be involved?
Earlier this year ASIC and the ATO announced that all company Directors will be required to hold a Director Identification Number (Director ID). Read more about how and when to apply.
They say competition is fierce, but we think it provides an opportunity for a business to learn and obtain insights. Find out what invaluable information you can gain from your competitors.
From team-building exercises to managing personalities and resolving issues, building a winning team is invaluable for your business, where you’re only as good as the team around you.
As a small business, do you ever feel that competing against larger retailers is a daunting prospect? Maybe a shift in thinking is needed. There are advantages to being small that may surprise you.
Make sure you set your small business budget! It's a great way to eliminate wasteful spending and get to profitability faster. Setting a budget isn't complicated but it can still help to involve an expert.
Small business is all about relationships. But when these go wrong, it is devastating. Ensure you have the systems in place to routinely look at where your money’s going in order to safeguard your business and your relationships.
Reminder to Employers: the Casual Employment Information Statement (CEIS) available from the Fair Work Ombudsman is now to be provided to existing casual workers as soon as possible after 27 September 2021.
Regular cashflow forecasts will help you make informed decisions. Whether your sales are boom or bust, you want to make sure that your costs aren't holding you back.
How well do you understand your revenue drivers? The better you can understand the nature of your revenue and its drivers, the more you can flex, manage and control your ability to generate this income.
Data is only powerful with context. It needs to be accurate and organised and you need to be clear on the necessities versus the niceties.
You don’t go fishing without checking the forecast, nor should you run your business without an annual forecast. The forecast tells us what's in store based on the direction we're heading.
Over the past eighteen months, businesses have had to update, change and pivot just to survive. Do you know where you're going and how it's impacted on your underlying business purpose?
Lockdowns, closed borders and uncertainty mean small to medium sized businesses are still struggling with the effects of COVID-19. Some recent research uncovered some common strategies for success in a crisis.
With lockdown now affecting all of NSW, it is timely to provide an update of the Government assistance that is available for NSW residents.
If you operate a building, cleaning, courier, road freight, IT or security business, you may need to submit a Taxable Payments Annual Report to the ATO.