Choosing A Structure For Your Business: The Co-Operative Explained.
Sometimes you might want to set up a structure where you will share in the spoils with everyone that deals…
Sometimes you might want to set up a structure where you will share in the spoils with everyone that deals…
The ATO is looking to make tax season a little bit easier this year, particularly in light of the unique…
Family-run businesses form an essential part of the economy. Tradition, success and history along with their unique dynamic can create…
There were a few changes to superannuation that were passed by the Senate recently. You can now use the bring-forward…
More and more Australians bought local products during the past year and rallied behind smaller businesses, which buoyed many shops…
Ethical investing is gaining traction, with more and more investors selecting where their money will go based on their personal…
Understanding what organisational structure is can help with making decisions about your business in all areas. Organisational culture is multifaceted,…
Most super funds offer insurance as part of their super plan. It is important to be aware of what types…
Job losses have been extensive during the COVID-19 pandemic and the JobMaker Hiring Credit will give businesses incentives to take…
The government recognises that despite support to get through the COVID-19 outbreak, not all businesses are going to remain viable.…
The Budget highlights the government’s commitment to getting people back in jobs and upskilling Australians. The JobTrainer Fund which falls…
The Budget seeks to promote tax reform and simplification in an effort to support business investment and help reduce the…
Determining where to invest requires multiple factors to be taken into consideration. One such factor may be tax efficiency. The…
One of the most effective ways to add to your super balance is through salary sacrifice. Salary sacrifice involves the…
Set realistic and actionable goals Businesses should set realistic and actionable small goals which they can work towards, rather broad…
How you spend your money determines how well you can save you money. Spending more than you have or buying…
In its efforts to boost the economy, the Federal Government is considering bringing the planned income tax cuts forward. The…
An amnesty scheme which ended earlier this month has caused around 24,000 businesses to admit to underpayment of their worker’s…
An important decision to make before you start a business is what structure your business will run under. This will…
Businesses working from home due to social distancing restrictions can take the opportunity to learn from the experience and consider…
Running an SMSF under regular circumstances comes with enough compliance obligations as it is. Adding divorce or separation into the…
Individuals upskilling and educating themselves during these down times may be eligible to claim a deduction for their self-education expenses.…
It is a tall order to ask for a business owner to manage everything alone, much less lead their business…
It is not uncommon for businesses to provide loans to shareholders or associates of a company. However, business owners should…
One of the benefits of SMSFs is the amount of control you have from managing it yourself. However, self-management can…
COVID has prompted businesses to go digital, making cyberattacks an easy job for scammers. Small businesses are especially at risk…
Acquiring new customers can often be simpler than retaining existing customers. However, loyal customers give your business a higher chance…
A great way to grow your retirement savings is by making regular contributions to your super fund. However, there are…
Businesses that provide benefits to employees during an emergency situation are likely to have assistance costs be exempt from fringe…
As individuals struggle with cash flow through the coronavirus, the Australian Bankers Association records that repayments on almost 500,000 mortgages…
Maximising returns on investments is the primary goal for every business owner who invests in a marketing campaign for their…
The Government has introduced additional changes to JobKeeper to help more businesses qualify for the relief payments. One of the…
The ATO reported that 45% of working Australians were not aware that they had multiple super accounts in 2016. Having…
Having a strong digital presence has now become a basic part of running a business. Business owners are investing time…
When business is going well, it can be easy to procrastinate planning for the bad times. However, preparing for disaster…
Self-managed super fund (SMSF) trustees are required to appoint an ATO-approved SMSF auditor no later than 45 days before lodging…
Transferring the ownership of assets from one party to another may attract CGT. However, in the event that a change…
A successful sales strategy plan will provide your business with clear priorities, goals, and outcomes that can help you increase…
Using SMSFs to buy property has become increasingly popular among Australians in recent years, particularly since it became possible for…
The Taxable Payments Annual Report (TPAR) is an industry-specific report through which businesses inform the ATO of the total payments…
Businesses looking to save on tax for the financial year may consider applying for income tax concessions. Businesses classified as…
Business owners might be required to select a default fund for employees when they do not want to nominate their…
‘Word-of-mouth’ referrals may seem like an outdated concept in today’s digital age of online reviews, but a few credible and…
The Australian Government has announced that JobKeeper payments will be extended for a further six months after the initial 28…
Businesses can be heavily impacted by customers who cannot, or simply will not pay when payment is due. A single…
Self-managed super funds (SMSF) can be vulnerable to disputes, especially when family members are involved. SMSF disputes may be caused…
Due to changing economic circumstances, businesses may be receiving income from sources they have never received from, and may be…
Meeting tax obligations as a business owner can be stressful and potentially expensive if done wrong. Certain mistakes warrant severe…
Early access to your superannuation is permitted under a few limited circumstances outlined by the ATO. In the case that…
The Government has introduced a $2 billion JobTrainer scheme, which aims to help businesses train or re-skill workers in Australian…
Turning an idea into a business requires money, and securing this stable funding is not easy. Businesses have a variety…
COVID-19 has forced businesses to adapt their practices to cater for social distancing measures and sanitary precautions. As a result,…
Individuals may be able to claim tax deductions for personal superannuation contributions they make. Personal super contributions are made after-tax,…
The Government has updated fringe benefits tax (FBT) exemptions to include travel in ride-sourcing vehicles under the existing taxi travel…
The small business income tax offset can be used to reduce the tax you pay by up to $1,000 a…
Gathering funding is a challenge that almost all business owners face at some point. Financing can come in two forms…
A super death benefit is the super paid after a person’s death, usually to a nominated beneficiary. These benefits are…
In an effort to minimise physical contact during the global pandemic, most businesses are making the switch to cashless payments.…
The end of the financial year has rolled around again, but this time, COVID-19 may affect the way you fill…
Self-managed super funds (SMSF) may be required to lodge a transfer balance account (TBA) report by 28 July 2020 in…
Enforcing health precautions is an essential step to creating a safe workplace and giving your employees peace of mind, especially…
Expanding your business to open in multiple locations can offer more opportunities and profitability. However, managing one location can be…
Self-managed super funds can carry on a business providing the business is allowed under the trust deed and operated for…
New car threshold amounts will be implemented from 1 July 2020. Understanding the new thresholds and how they may affect…
Running a business is challenging enough, and having to deal with bad debts can add an unneeded layer of stress…
Businesses working from home due to social distancing restrictions can take the opportunity to learn from the experience and consider…
Employers with a self-managed super fund (SMSF) looking to protect their business assets can consider transferring their business real property…
Property investors may have a number of tenants that have temporarily paused their rent payments or are not paying the…
Businesses struggling with debt may feel like declaring bankruptcy is their only option. Premature bankruptcy is an unfortunately common scenario…
Running an SMSF under regular circumstances comes with enough compliance obligations as it is. Adding divorce or separation into the…
Individuals upskilling and educating themselves during these down times may be eligible to claim a deduction for their self-education expenses.…
Employers with 19 or fewer employees are temporarily exempt from reporting ‘closely held (related) payees’ through Single Touch Payroll enabled…
Small business owners are often faced with stressful financial decisions and periods of uncertainty. Having a cash flow forecast can…
Small businesses coming out of COVID-19 may be looking to expand and grow as quickly as possible to prepare for…
Property is a common investment option for SMSFs, however, the ATO has a number of regulations SMSF owners need to…
Contributions made on behalf of your spouse to a complying superannuation fund or a retirement savings account (RSA) may be…
A fringe benefits tax (FBT) is a tax paid on benefits provided to employees (usually non-cash). FBT is calculated based…
With the current economic slowdown, now is the perfect time to review your business strategy and conduct a business “health…
Supporting your employees during chaotic times as an empathetic leader will improve your relationships within your business and boost personal…
Employees who are not living or working in their regular location due to COVID-19 mobility restrictions need to be aware…
Employees who are not living or working in their regular location due to COVID-19 mobility restrictions need to be aware…
Paying your employees superannuation is an integral part of being an employer. Superannuation provides income for your workers in retirement…
Businesses now working from home can take the opportunity for employers to learn from the experience and consider new work…
While there are benefits to running an SMSF, they do not come without their compliance responsibilities. This includes lodging your…
The ATO has published a ruling on the decline in turnover test for businesses applying for the JobKeeper scheme as…
Increasing living expenses and commitments can make it challenging to manage and save money, especially for low income earners. Here…
Contracts, sales or purchases are bound to be cancelled with financial uncertainty plaguing the economy as a result of COVID-19.…
Individuals looking to buy their first home may claim up to $30,000 of their super contributions through the First Home…
Due to COVID-19 and unforeseen financial circumstances, the ATO has announced a series of lodgement deferral dates available for tax…
Despite unprecedented circumstances, employers still need to consider the requirements of dismissal under the Fair Work Act when ending employment…
The Government’s economic response to coronavirus will provide SMSFs and their members with additional support, including reducing minimum drawdown rates…
In emergency situations like the COVID-19 pandemic, there are certain benefits you can provide your employees or their associates which…
The COVID-19 pandemic is proving to be not only a major health concern for the global population, but also a…
Businesses wishing to use the JobKeeper payment scheme may find themselves running into many logistical uncertainties, as claiming the JobKeeper…
If you are an employer looking to correct past unpaid superannuation guarantee (SG) amounts, you now have a six-month window…
While the Australian Government has provided businesses with many relief measures during the COVID-19 pandemic, such as the JobKeeper subsidy…
As a result of the coronavirus outbreak in NSW and a decline in economic activity throughout the state, on 17…
Longevity risk is a common and important factor to consider when planning for your retirement funds. Longevity risk refers to…
COVID-19 is forcing many businesses to work from home, meaning that you now have to pay for expenses such as…
If you haven’t set up your myGovID yet, you need to do it before you can lodge your next business…
Under the coronavirus stimulus package released and revised by the Australian Federal Government on 22 March 2020, individuals in financial…
The Federal Government introduced a third COVID-19 support package of $130 billion on 30 March 2020. The package includes additional…
As part of the second $66 billion support package in response to COVID-19 and its negative effects on the Australian…
Traditionally, it has always been much easier to manage employees and ensure collaborative productivity through onsite and in-office procedures. However,…
Importing goods and services with extra-added GST costs but not sure how you can apply for refunds or deference? The…
While the coronavirus has been causing Australia’s economy to take a recessive turn due to reduced cash flow, there is…
The Australian Government has increased support for businesses to manage cash flow challenges under the ongoing COVID-19 circumstances. The Boosting…
Neil Marshall Tax and Business Advice continues to expand, with our current office now too small to comfortably accommodate our…
Business loans and business credit cards are the most popular financing options, but there are key differences between the two…
Many businesses, whether they are only just starting up or have been in the market for a number of years,…
Shares and property are two popular investment options for those with a self-managed super fund (SMSF). However, they both have…
Are you an Australian living or working overseas with a family home in Australia? Or you know someone who is?…
Most businesses nowadays have some sort of website, but designing, creating and maintaining a website for your business can be…
Amidst the chaos of the COVID-19, better known as the coronavirus, and concerns for Australia’s weakening economy, the Morrison government…
One of the downsides of running a self-managed super fund (SMSF) are the fees, but making sure you know what…
Division 7A under Australian legislation is currently concerned with private company benefits given to shareholders which are taxable under the…
Since the second half of 2019, industry super funds have begun to merge their organisations in an effort to combat…
With a quarterly business activity statement (BAS) due next month, it is important that you have updated your lodgement options…
Gone are the days of your visits to the bank to check on your credit balances. With banks consistently improving…
Diversity and Inclusion is a growing concept that many businesses – from SMEs to MNCs – all around the world…
Running your business from home can have great benefits, such as being able to spend more time with your family,…
Whether you are a newcomer to the workforce or have been working full time for 30 years, you must have…
A career mentorship program involves partnerships between employees to develop professional skills and gain industry knowledge. Career mentoring programs are…
If you are a small business employer wishing to dismiss employees, you must do so according to the Small Businesses…
If you’ve unintentionally been going over your superannuation concessional contributions cap in past years, you may not have to worry…
Employers who provide staff parking spaces may be affected by the rewrite of the car parking fringe benefits Taxation Ruling.…
When someone dies, their superannuation usually gets transferred to their beneficiary as superannuation death benefits. Depending on who the beneficiary…
Once you have met your preservation age (between 55 and 60 depending on when you were born), you can choose…
Rebranding your business can seem like a daunting task, as it can involve a range of arduous tasks such as…
Employees of a small business may need to develop their expertise or skills in a particular area to better perform…
SMSF members need to be aware of the rules that govern their fund, including what to do when one member…
Managing a virtual team can offer challenges that you won’t experience in-person teamwork. It can be harder to schedule meetings,…
A financial dilemma that is becoming increasingly common is finding a way to fund a comfortable retirement lifestyle without having…
Leasing commercial premises, such as an office building, hotels or stores have their own struggles compared to being a residential…
With many small businesses often being the livelihood for their entire families, owners should consider taking out business interruption insurance…
The ATO has introduced a new method of updating SMSF trustees of changes to their fund. From 3 February 2020,…
In the event that your records have been damaged or destroyed in a natural disaster, such as bushfires, there are…
How you spend your money determines how well you can save you money. Spending more than you have or buying…
Divorce or separation can be emotionally draining and stressful as it is, but the legal and financial responsibilities you also…
Hiring an intern can sound like a win-win situation; the intern gets an opportunity to learn and boost their career,…
The Superannuation (Unclaimed Money and Lost Members) Act 1999 (SUMLMA), more commonly known as the unclaimed superannuation money protocol, has…
Businesses operating in a fast-paced and dynamic environment, the task of keeping records can fall secondary to everyday business operations.…
Franking credits are a kind of tax credit that allows Australian companies to pass on the tax paid at a…
Changing your business or company name can be an exciting leap. You can find yourself thinking about things like redesigned…
Buying a holiday house can seem appealing, whether it’s to rent out for income, for your own holidays or both.…
Most super funds offer insurance as part of their super plan. It is important to be aware of what types…
Taking care of invoice and billing payments can often be an onerous task for many small businesses. However, very few…
The ATO has issued a warning for Australians to be aware of scheme promoters that promise to allow you to…
Many business owners have exciting ideas about where the future might take their company. These ideas may be concerning new…
The government has changed capital gains tax (CGT) rules for foreign residents under the Treasury Laws Amendment (Reducing Pressure on…
As the holiday season approaches, the workplace often gets more relaxed as things wrap up. However, closing the business for…
Individuals can claim tax deductions when giving gifts or donations to organisations that have the status of deductible gift recipients…
Currently, people aged 65 to 74 can only make voluntary superannuation contributions if they meet the ‘work test.’ This means…
Market research is key to developing relevant and effective business strategies as it helps you understand your industry, customers, competitors…
A Binding Financial Agreement (BFA) is the Australian equivalent of a prenup. It is used to agree in advance on…
The interest you earn from term deposits is subject to tax, just like your regular income. You have to declare…
Changes have been made to the Pension Loan Scheme (PLS) under the federal government that came into effect 1 July…
With so many eager school-leavers looking for employment opportunities, hiring an intern can seem like a good way to offer…
The national rental affordability scheme (NRAS) started on 1 July 2008, encouraging large-scale investment in affordable housing. It offers tax…
If you have a self-managed super fund (SMSF), then you need to meet the sole purpose test to be eligible…
Entering into a business partnership can come with conflicts and misunderstandings between you and your new associate. This is why…
Investment bonds are a practical investment option for those who earn a high income and seek long term tax efficiencies.…
Ensuring the safety of employees in the workplace should be one of the top priorities for managers and business owners.…
For taxpayers wishing to access the small business capital gains tax (CGT) concessions for shares in a company or interests…
If you are a sole trader, or in a partnership, then you are not obligated to make super guarantee (SG)…
Plans are underway to carry out a system change during the December closure of the ATO to introduce Activity statement…
Whether you are struggling to keep up a steady income or wanting to grow your business, increasing sales revenue is…
Running a business is hard enough without having to chase up payments from your customers. Here are some measures you…
Inactive low-balance accounts (ILBAs) are a new category account that needs to be reported and paid to the ATO. This…
Small businesses entitled to refunds of GST may not be aware of the four-year time limit on claiming those refunds.…
In order to keep up with the growing demands of digital accessibility and convenience, many businesses decide to partially or…
Commutation authorities are issued by the ATO when a member of a SMSF has exceeded their transfer balance cap. A…
On the 28 October 2019, The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No.1) Bill 2019 received royal…
Online shopping is available 24/7, making it easy to indulge in retail therapy whenever you’re feeling low. With many consumers…
The ATO has announced that in October 2019, they will be focusing on the bulk Australian business number (ABN) cancellation…
Travelling overseas for an extended period of time is an exciting adventure and a chance to have a break. However,…
The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 was re-introduced to parliament on 23 October 2019.…
A contractor can turn into an employee for legal and financial obligations, so when working with contractors, employers need to…
Contractors bring with them different obligations that business owners need to comply with. Employers that incorrectly classify employees and contractors…
The structure of your business determines how you would pay tax and other business obligations you would need to consider.…
If shopping centres aren’t even putting up their Christmas decorations yet, then the holiday period may seem to be a…
Businesses looking to improve their profitability may need to consider cutting under-performing products and services. How a product contributes to…
Integrity measures included in Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019 have now been enacted with an…
The margin scheme is a way of working out the GST you must pay when you sell property as part…
An employment contract establishes the terms and expectations of an employee before they start work. It outlines everything the employee…
The Treasury Laws Amendment (2018 Superannuation Measures No.1) Bill 2019 has passed both Houses of Parliament and reached royal assent…
A business industry code (BIC) is a five-digit code you include on relevant tax returns and schedules that describes your…
In an increasingly technologically dependent age, it can be useful to keep up with new forms of currencies in the…
Promoting your business can seem tricky to navigate and expensive, especially when there are budget and staff restrictions to think…
From 1 October 2019, if an SMSF is more than two weeks overdue on any annual return lodgment due date…
When making a claim in relation to your residential rental property, there are specific circumstances for when you can and…
Bad days can happen to the best of us, but that doesn’t stop work from needing to get done. Whilst…
Retirement isn’t necessarily a permanent thing as even the best-laid plans can collapse when circumstances change. The Australian Bureau of…
To qualify for small business CGT concessions, an asset must meet the conditions of the Active Asset Test to apply.…
Your credit score is an important number in your life as it can affect many financial aspects of your life.…
In Australia, there are approximately 100,000 working holiday makers employed each year. Any employer can hire working holiday makers provided…
Australian employers are required to pay super to their employees when they earn $450 a week or meet specific criteria…
The taxable payment reporting system (TPRS) has extended to further businesses that provide particular services and those that pay contractors…
An Australian business number (ABN) is a unique 11-digit number that the Australian Business Register issues to all businesses, identifying…
Contributing extra to your superannuation is a good way to boost your retirement funds. One of the ways you can…
Capital Gains Tax (CGT) events occur when an individual or company makes a capital gain or capital loss by selling…
When it comes to your money, whether it be loans, insurance, savings or superannuation, having a ‘set and forget’ attitude…
Employers that incorrectly treat employees as contractors can face hefty penalties and charges as well as claims for entitlements and…
The ATO has identified approximately 17,700 SMSFs where investment strategies may not meet the requirements under regulation 4.09 of the…
Taxpayers are responsible for safely storing a written backup copy of their tax record in case the original electronic form…
While email marketing remains one of the most effective platforms for businesses to reach clients on a personal level, it…
A mandatory component of managing a self-managed super fund (SMSF) is planning out what will happen to the fund if…
Businesses can no longer claim deductions for payments to workers if they have not met their pay as you go…
Maintaining healthy cash flow can be challenging; between ongoing expenses and bills, poor cash flow can severely impact your customers,…
Business owners are faced with constant challenges and tough decisions to make on a day-to-day basis. Risk-taking is often necessary…
Over the course of your life, the contributions made to your superannuation fund can often end up being your greatest…
The ATO has released the Taxation Determination 2019/9, which outlines changes to the fringe benefits tax (FBT) car parking threshold.…
Spending on capital assets usually cannot be deducted immediately. Instead, small businesses claim the costs over time in accordance with…
When a downsizer contribution is ineligible, the fund must re-assess the amount in accordance with the Superannuation Industry (Supervision) Regulations…
The ATO has developed a new toolkit that helps small business owners to understand their entitlements and avoid mistakes in…
Professional help with accounting and financial decisions is useful at every stage of business. Accountants can assist with a variety…
Having a healthy supply of cash is vital for the survival of small businesses, as it is required to operate…
The ATO has increased fuel tax credit rates from 4 February 2019. As fuel tax credit rates are updated regularly,…
The ATO has called on self-managed funds to check whether they are meeting new pay-as-you-go (PAYG) withholding obligations for capped…
The 2019-20 Federal Budget has placed a strong focus on the growth of the economy whilst also having the intention…
In a market that is full of entrepreneurs and small businesses, collaborating with a business that complements yours can be…
Lodging a business activity statement (BAS) is something all business owners will be familiar with, however, mistakes can still be…
The 2019 Federal Budget focuses on rewarding working Australians, with the emphasis on a two-pronged approach for “hard-working” individuals. Individual…
The 2019 Federal Budget focuses on building a better tax system for Australian businesses in order to create a stronger…
Borrowing money to invest, also known as ‘gearing’, can be a risky business. While it can increase your returns when…
The ATO has seen a number of common errors made on forms submitted by property purchasers since changes were made…
When an employer provides certain benefits for their staff, they are required to pay Fringe Benefits Tax (FBT). Employers pay…
Superannuation laws can be confusing for everyone. These procedures often make it difficult to work out when you can retire…
The ATO has seen a number of common errors made on forms submitted by property purchasers since changes were made…
Borrowing money to invest, also known as ‘gearing’, can be a risky business. While it can increase your returns when…
When an employer provides certain benefits for their staff, they are required to pay Fringe Benefits Tax (FBT). Employers pay…
Superannuation laws can be confusing for everyone. These procedures often make it difficult to work out when you can retire…
The ATO is focusing on risky Limited Recourse Borrowing Arrangements (LRBAs) and failures in Transfer Balance Account Reporting (TBAR) in…
Advancements in technology continue to digitise our world, including financially. In recent years, more businesses and events are turning to…
The Personal Income Tax Plan has gone through recent changes regarding rates, thresholds and offset entitlements. These changes were announced…
There are a number of options when it comes to choosing an income investment scheme. Investments that generate regular income…
Raising capital is a step that every startup faces. When a business is brand new, the question of how to…
One of the best ways to ensure regular, flexible and tax-effective income as a pensioner is through an income stream…
New penalties for business’s pay-as-you-go (PAYG) withholding and reporting obligations are to be introduced as a result of legislation commencing…
As the time comes for you to consider leaving the workforce, it is necessary to plan how to make the…
Deciding to move on from your business can impact a lot of different people. When selling your business, you will…
The goods and services tax (GST) is applied to most goods and services sold in Australia, taxed at a rate…
Self-managed super funds are closely monitored by the ATO to ensure regulations are being met across all areas. As SMSF…
If you are in a position to invest, it can be a great venture to help grow your wealth as…
Owning and running a small business comes with positives and negatives that maintain a balance. When the negative elements start…
The ATO small business benchmark guides are designed to help small businesses compare performance with similar companies in the same…
Without exposure, businesses would come and go very quickly. In this new digital age, there are even more options for…
If you’re not close to retiring, you may not be thinking about your super or where it is. Even if…
The ATO has released a statement in relation to transitioning to Single Touch Payroll (STP) for small employers. Parliament has…
Personal loans have become a fast-growing financing option for consumers, with payday apps and websites gaining popularity. For aid between…
The Australian government has launched the Better Tax campaign in order to help inform the public of tax reforms coming…
Business culture is a reflection of what your company stands for, it’s your voice. Employee relations are what establishes this…
A 2018 study revealed that almost 40% of Australians think they won’t have enough money to retire on – and…
On the occasion that you are required to travel overnight for work, you may be eligible to receive a travel…
Most of us fall somewhere in between the introvert-extrovert spectrum but our concept of a great leader often looks to…
How to reduce the hassle of missing your employee’s super payment. The Super Guarantee Charge (SGC):The SGC may apply to…
As of 29 January 2019, the Instant Asset Write-Off Scheme will be extended to 30 June 2020 for assets purchased…
Businesses need to access finance with ease in order to sustain and develop themselves. Is your current bank still cutting…
Instagram business accounts help you reach new clients and companies that you wouldn’t be able to on other social media.…
Sometimes a self-managed super fund (SMSF) isn’t for you. While that is ok, getting out of an SMSF can be…
Teams, like workplaces, are becoming increasingly diverse, dynamic and digital. But the principle behind managing teams effectively remains the same.…
First introduced in 2015, SuperStream is a government standard for processing superannuation payments electronically in a streamlined manner. Currently, SuperStream…
People and internal processesArguably one of the best forms of investment is in the employees you hire, and the talent,…
Associating certain behaviours to different countries have long been a way of identifying and comparing cultures and widely assumes country…
It’s no secret that the median super balance for Australian women at the time of retirement is significantly lower than…
On 1 July 2018, the Australian Tax Office (ATO) rolled out Single Touch Payroll (STP). This changed the way employers…
Your business is only as good as your staff, which is why you want to hire high potential employees. You…
Merging your super is vital to maximising your retirement savings. Changing jobs over the years will put you at risk…
You can claim tax deductions for expenses related to business travel provided you follow the ATO’s rules. Eligibility requirementsYou must…
The new Australian Financial Complaints Authority (AFCA) will make it easier for individuals and small businesses to make complaints about…
Unwanted attention and penalties from the ATO can jeopardise your small business. Protect your business by avoiding these common small…
Small businesses should not feel intimidated by their corporate competitors as they have many unique advantages that can help them…
Employers must make superannuation contributions on behalf of their employees. SuperStream is the ATO’s electronic and standardised solution that streamlines…
The ATO has introduced the Business Portal to allow small business owners to manage their tax affairs online at their…
Credit cards are useful financial tools that can help you manage cash flow but can run you into debt if…
Small business owners are constantly under stress and pressure, which is why it is important they look after their mental…
The ATO has issued a warning to the public regarding illegal early release of super schemes, which are subject to…
The ATO has enforced strict guidelines on tax deductions for rental property owner’s travel expenses. As a rental property owner…
Business owners thinking about specialising their products and services to target a niche market should know the benefits and risks…
The ATO classifies contractors paid for their labour as employees for superannuation guarantee purposes. This is the case even if…
The ATO has updated the Taxpayer’s Charter which prioritises a relationship with the public built on mutual trust, courtesy and…
SMSF trustees have the freedom to invest as they choose to grow their retirement savings, which is why it is…
Small business owners suffering from mental health issues can seek the ATO’s help in meeting their taxation and super commitments.…
Leadership mistakes contribute to falling standards around the office due to a lack of motivation or inefficient management. Here are…
Trustees must comply with reporting obligations to avoid penalties from the ATO. The following trustee reporting checklist to make sure…
Businesses that fail to keep accurate records may struggle to remain compliant at tax time and incur financial penalties from…
The expenses of running your office and paying for rent add up to a significant cost to your business. There…
Business’ that get involved in community reap financial, workplace and brand image related benefits. Whether your business is new or…
Setting up an SMSF can be complex, which is why a checklist is useful to streamline your process. Before you…
Tax exemptions may apply to small businesses going through a restructure provided they meet certain criteria. Typically when a business…
The decision of where the headquarters of your business should be will have a significant hand in determining your profitability…
The ATO’s new data revealed that although the total amount of lost and unclaimed super reduced by $420 million in…
A default assessment is an assessment of taxable income for overdue tax returns or the net amount or assessable amount-for…
The event-based reporting (EBR) framework for self-managed super funds (SMSFs) commenced on 1 July 2018. The initiative allows for the…
Fuel tax credit rates have increased on 1 August. The ATO reminds you to use the new rates to calculate…
Competition is part of the business. Getting that edge is make or break regarding getting your business up and running…
SMSFs provide the trustee autonomy and an increased opportunity to maximise your retirement savings. However, an investment strategy must be…
The ATO has extended the $20,000 threshold to 30 June 2019. If you buy an asset and it costs less…
When it comes to saving money on anything from home loan interest rates to new appliances for your house, haggling…
Rebranding can help you survive in a changing industry or open your business up to new profit-making opportunities. Sometimes it…
Choosing the right super risk profile at the right time can drastically increase your retirement savings. The following considerations will…
The ATO is seeking to increase their attention on home office expenses due to the high level of questionable claims…
Giving feedback to staff is a key to being a successful manager. Although feedback should be viewed as an opportunity…
Superannuation is more critical than it has ever been. If having an ageing population has taught us anything, it is…
The ATO is in the midst of developing advanced data programs to find individuals who are leaving a source of…
Negative gossip in the office is something that is harmful both to your business and to the employees. Whether it…
Normally employers have to pay a worker super. However, this becomes confusing with the different visas that employees might be…
On the 1 July 2018, the Australian Government introduced Single Touch Payroll (STP) for employers with 20 or more employees.…
The Australian Tax Office (ATO) has released draft guidelines changing its previous stance on Fringe Benefits Tax (FBT) for utes.…
The Australian Tax Office (ATO) is reminding employers to check they are meeting their obligations when it comes to paying…
The time to report and lodge your annual tax return for your business is fast approaching. Remember, what you must…
The Tax Office is reminding individuals winding up a self-managed super fund (SMSF) that before lodging your final SMSF annual…
There is no weakness in a leader who asks for help. Maintaining success in your small business requires you to…
Working capital is the money needed for day-to-day business operations and is often a measure of a business’s liquidity, efficiency…
Creating a new business is an exciting time for any first-time entrepreneur, but it also comes with making big decisions…
Any ordinary and statutory income a self-managed super fund (SMSF) earns from assets held to support retirement phase income streams…
From 1 July 2018, businesses that supply cleaning or courier services must report payments made to contractors (if payments are…
With recent regulatory changes to super contributions, it is easier than ever to ensure your employer is paying you the…
You may be able to claim a tax deduction for capital expenditure on a landcare operation in Australia in the…
Creating a workplace environment that fosters inclusivity and belonging for all is important for the longevity of your business. When…
Making contributions to your superannuation fund is a great way to grow your nest egg, however, there are caps on…
The Tax Office is reminding individuals who either own or are looking to purchase a rental property that there are…
The name you choose to give your small business is an important, yet challenging decision. These few words must represent…
Launching a new business for the first time is an exciting phase for every entrepreneur. However, it is important to…
When it comes to protecting your nest egg, avoid getting caught out by a promoter of an illegal early release…
As tax time continues, the ATO has announced the top misconceptions many individuals make when completing their claims for tax…
The Tax Office has released further findings that reveal cash-only businesses could be missing out on a significant chunk of…
Employers are being reminded by the Australian Tax Office (ATO) not to forget that along with permanent residents; temporary residents…
The Tax Office has confirmed the rate for work-related car expenses will rise to 68 cents per kilometre for the…
The key to success is remembering that everything is negotiable, and that to get a deal you must ask for…
The Superannuation Guarantee Amnesty was introduced on 24 May 2018 by the Minister for Revenue and Financial Services in a…
The ATO has released its latest findings on the tax gap for Australian individuals. The estimated gap in 2014-15 is…
Has your small business hit a slump lately? It may be time to develop a growth-focused strategy that can take…
The ATO is encouraging taxpayers to review their super this tax time. Finding lost super or consolidating any unwanted multiple…
The Australian Tax Office (ATO) is reminding individuals to remain vigilant against any scams that may pop up this year…
When you run your own business, it can be hard to step back and look at the big picture. Failing…
Rebranding your small business can be a tricky matter. When done well, it has the potential to help your business…
The Australian Tax Office (ATO) is reminding self-managed super fund (SMSF) trustees to beware of allowing members to access their…
From 1 July 2018, the Tax Office is advising Australians that if they find an error in their tax return…
It is no secret that most startups will fail in their first three years of operation, so building a new…
The Australian Securities Investment Commission (ASIC) has released a new report highlighting its view on the setup of SMSFs for…
Tax Time is now upon us, with the ATO Assistant Commissioner announcing the top five mistakes commonly made when Australians…
The Australian Tax Office (ATO) has recently been made aware of circumstances where a member of a SMSF commences a…
The Personal Income Tax Plan announced as part of this year’s Federal Budget has been passed by Parliament. The plan…
Working with unreasonable people is inevitable for most individuals at some point in their careers. Whether it is an unhappy…
Self-managed super funds (SMSFs) are required to provide an accumulation phase value (APV) on their transfer balance account report for…
The Australian Tax Office (ATO) is cracking down on claims for work-related clothing and laundry expenses this tax time. Last…
When the winter season commences, you might notice a spike in your bills. Although, it is no surprise that additional…
Failure is often considered a sign of weakness or defeat. However, it is also known to be a natural stage…
There is a number of changes to the 2017-18 Self-managed super fund annual return (SAR) thanks to the super changes…
Overseas businesses that meet the GST registration threshold (A$75,000) will be required to charge GST on goods purchased from the…
Social media platforms continually introduce new features and functions that change the way digital marketers create and distribute content. Maintaining…
In a bid to tackle non-payment of employee superannuation, the Minister for Revenue and Financial Services announced the beginning of…
With the end of the financial year fast approaching, preparing ahead will help to take off the pressure of running…
The First Home Super Saver (FHSS) is a scheme that enables Australians to save for their first home inside their…
The Government is widening the scope of Division 7A to include unpaid present entitlements from 1 July 2019. This will…
Storytelling taps into your customers’ emotions, builds trust and can help form a stronger connection with your audience. Many businesses…
More taxpayers can now claim a personal super contributions deductions this tax time due to the removal of the 10…
As of 1 July 2018, purchasers of new residential premises or potential land are required to withhold an amount from…
When shopping around for a personal loan, it is wise to be conscious of any potential scammers that may try…
A compelling mission statement will give your small business the purpose it needs to grow. In just a few clear…
The Government has introduced new measures to allow SMSF members to access their super for their first home or make…
The Tax Office has flagged work-related car expenses as a concern this tax time. The ATO is targeting those who…
How do you like to begin each day? The daily routines of successful entrepreneurs prove that ‘when’ and ‘how’ you…
The Government is focused on encouraging older Australians to better grow and secure their personal retirement funds. Retirees exempt from…
The Government will continue its commitment to strengthen the economy by focusing on improving its integrity measures to create a…
The Government is introducing a series of new measures designed to help Australians keep a greater portion of their superannuation…
The 2018 Federal Budget is built on the back of a historically strong post-mining boom Australian economy, triggering fairly conservative…
Self-managed super fund (SMSF) trustees are reminded that the deadline for their 2016-17 annual return is fast approaching. The extended…
The Australian Tax Office is standing by its actions undertaken that were presented on a recent current affairs program. The…
Although workplaces require different skills and personality traits to fit into the role and culture of the business, there are…
Due to new super measures introduced by the Government, Australians will now be able to contribute part of the proceeds…
Employers can employ holiday makers on either a Working Visa (subclass 417) or a Working and Holiday Visa (subclass 462).…
A personal loan can come in handy if you need some extra cash to fund a purchase, but it may…
Closing a sale is the end goal for many business owners but often knowing how to close the deal is…
When a super scheme seems too good to be true, it often is. Many illegal super schemes are operating in…
Buyers of new residential premises or subdivisions of potential residential land will need to pay the GST component of the…
Efficient businesses create more with less. They are driven by highly-motivated employees and inspirational leaders. They understand the power of…
Employers have a legal responsibility to pay eligible employees superannuation to provide for their retirement. And although most employers do…
Fuel tax credits are provided to businesses who acquire, manufacture, import or use fuel in part of running a business.…
The Australian Tax Office (ATO) will be contacting 80,000 individuals, starting this week, to alert them of unclaimed super. An…
The Tax Office has rental property owners in its sights this tax season with a large number of mistakes, errors…
Mistakes happen all the time, and although they can be embarrassing, you can recover from them. Whether the mistake was…
The ATO is reminding self-managed super funds (SMSFs) of the rules regarding non-arm’s length income from trusts. The non-arm’s length…
The Australian Tax Office (ATO) is warning taxpayers to be aware of scammers impersonating the Tax Office and demanding cryptocurrency…
Most people, at some stage or another, will need to save money. Whether it is for a large purchase such…
Business owners should always be on the lookout for ways to improve their business. It can be easy to fall…
Bitcoin and other cryptocurrencies have become increasingly popular over the past few years. As many keen investors jump on board,…
The Australian Tax Office (ATO) is urging employers with 20 or more employees to prepare for the introduction of Single…
Business values, much like personal values, influence behaviour and provide a set of rules or guidelines to follow. However, in…
As of 1 July 2018, the Government will introduce a new measure that allows the contribution of up to $300,000…
Property investors can access a wide range of tax deductions and items subject to depreciation for their rental property yet…
Setting up your self-managed super fund can be a daunting process; you want to ensure you are covering all legal…
The Australian Taxation Office is continuing to pay close attention to claims made as ‘work-related expenses’ throughout 2018. Making incorrect…
Keeping the business in the family when you decide it’s time to retire is a common choice for many business…
Running a self-managed super fund can be a great strategy for your super and your retirement, provided you manage it…
While we like to think of business ventures as a platform to make money, there are also many expenses that…
Whenever or however you choose to invest, there will always be risk involved. Luckily, there are strategies you can adopt…
Accepting a new job offer can be exhilarating; you’ve put yourself out there, gone for an interview, waited to hear…
Deciding where to allocate your assets can be confusing and even daunting, particularly if you aren’t confident in your knowledge…
The Australian Tax Office is honing in on small businesses failing to comply with guidelines regarding appropriate record keeping. Findings…
Freeing up working capital can help businesses fund growth, reduce debt levels and lower costs. One way to improve working…
No matter the kind of superfund you opt for, you will be subject to super fees. Understanding how these fees…
The Australian Taxation Office is urging all businesses and individuals to take care in relation to avoiding the risk of…
In any business environment, there are constant challenges that can see you fail or can be tools for success. Channelling…
With much controversial discussion surrounding the First Home Super Saver Scheme, understanding exactly what the Scheme entails is necessary. The…
This year, the Australian Taxation Office has placed a greater focus on property developers and are particularly watching company directors…
Setting clear and direct marketing goals is an ideal strategy for promoting your business and business growth. There are a…
Many Australians opt for a self-managed super fund but fail to understand how to truly make it perform optimally. If…
The Government has announced a reform of the Deductible Gift Recipient (DGR) status to strengthen governance arrangements, reduce administrative complexity…
Poor cash flow is one of the biggest reasons why small businesses fail. A healthy cash flow allows you to…
Millennials are encompassing around a quarter of the workforce now and bringing along with them diverse needs and challenges. Employers…
The superannuation transfer balance caps have been problematic for SMSF members who don’t take careful consideration when succession planning. Failure…
With the FBT year-end just around the corner, it is a good time to review your FBT compliance to avoid…
Setting goals involves having an end date, but deadlines could be killing your business. While deadlines can help motivate employees…
Opting for a self-managed super fund (SMSF) can be a clever financial decision, but it’s not for everyone. If you…
It is quite common for small businesses to provide their staff with car parking benefits, however, many business owners may…
Superannuation funds in Australia have delivered a return of 10.5 per cent for 2017 – the first double-digit growth since…
The Australian Tax Office (ATO) is targeting privately owned and wealthy groups that display specific behaviours and characteristics in relation…
The summer holidays may be a period of increased sales for some businesses, but for many, it can be a…
The First Home Super Saver (FHSS) Scheme and the downsizing contributions into superannuation measures passed Parliament on 13 December 2017.…
The holiday season is a peak time for activities in the sharing economy to increase. During this time those participating…
Managing debt in your small business is essential in maintaining the financial health of your business as well as preventing…
Maintaining a healthy work-life balance may seem impossible as a business owner, but it is achievable, if not, necessary in…
The Australian Tax Office will start sending Excess Transfer Balance (ETB) Determinations from January 2018. ETB determinations will be sent…
The Australian Tax Office (ATO) will be closed from midday Friday 22 December 2017 to 8.00am Tuesday 2 January 2018…
Christmas can be a very exciting time for many, and it can also be the dreaded season for others. Consider…
The Australian Tax Office (ATO) is cracking down on self-managed super funds (SMSFs) that have overdue SMSF annual returns, particularly…
Taxpayers are being reminded they can prepay amounts towards their expected tax bill to help stay on top of their…
Understanding what behaviours and factors which cause employees to waste time is important. Only when you understand why time is…
The ATO is warning self-managed super fund (SMSF) trustees about the risks of some emerging retirement planning arrangements. Retirees or…
The Australian Tax Office (ATO) has sophisticated data matching programs in place to ensure individuals and businesses are complying with…
Good credit management is an important business strategy to maintain cash flow and stable finances. A cornerstone of managing credit…
Consistent branding is a big factor in your business’ marketing strategy – it can help build loyal customers, improve recognition…
Self-managed super fund (SMSF) trustees who are in pension phase must lodge their SMSF annual returns if they remain active,…
Those selling property as part of a business sale may be eligible for the margin scheme. The margin scheme is…
Making your business stand out can be difficult; especially if you are offering the same services as your competitors. No…
The Australian Tax Office (ATO) has released its June 2017 quarterly SMSF statistical report detailing key SMSF figures. As of…
Australian goods and services tax (GST) will be implemented on sales of low-value goods imported into Australia by consumers as…
Self-managed super funds (SMSFs) have access to a range of tax deductions for expenses incurred. Whether the expenses are capital…
To protect honest, compliant Australian businesses, the Australian Taxation Office has placed a strong emphasis on targeting the cash and…
From time to time, it is normal for employee morale to take a plunge. Whether it is a stressful time…
While many Australian’s sit firmly on either side of the first home super scheme debate, the Lower House has passed…
The ATO has established the ‘Business Assistance Program’ to help new business owners understand their tax obligations associated with running…
A loan can be great help. It can assist you in achieving your goals faster, such as buying a house,…
Many business owners are looking for ways to squeeze more into their cramped work schedules. But unfortunately, this may mean…
Individuals may be eligible for a Government super co-contribution. A Government co-contribution means the Government adds to your super. You…
When it comes time to sell your home, you may be wondering if you will need to pay capital gains…
Whether you have been running your business for over 20 years or just starting out, you cannot deny the importance…
When partners in an SMSF separate, there are specific legal and tax implications that should be considered. It is possible…
In its effort to facilitate a fair business environment, the ATO has offered continued support for honest businesses. With an…
The new transfer balance account report (TBAR) is available on the ATO’s website. Self-managed super funds can use the TBAR…
Self-managed super fund trustees must notify the Australian Tax Office (ATO) if there are changes to their SMSF. Trustees must…
Building a successful business is almost impossible without a group of motivated employees. Here are three ways to keep your…
Travelling overseas for an extended period of time is an exciting adventure. What isn’t so exciting is the prospect of…
Under the new law introduced on 1 July 2017, Australian GST registered businesses that import services or digital products for…
Getting a good loan can save you thousands of dollars in fees and interest, so it is important to shop…
One of the best ways to market your brand in today’s business climate is digitally. However, without understanding the online…
Employers who do not pay the minimum amount of super guarantee for their employee(s) by the due date may have…
Those who participate in ride-sourcing (i.e., Uber, GoCatch) as a driver can access a number of tax deductions come tax…
In a perfect world, every customer your business works with will be pleased with how the transaction went and will…
The Australian Taxation Office (ATO) will receive additional funding for a Superannuation Guarantee Taskforce to crack down on non-compliance by…
The ATO is reminding those who work in the sharing economy to be aware of their tax obligations. The sharing…
To retire comfortably, you should be doing everything you can while still in the workforce to make sure your superannuation…
From 1 July 2018, employers with 20 or more employees will report payments to the Australian Taxation Office at the…
Focus requires control. Control of distractions, thoughts and, most importantly, your time. Consider the following tips to improve your focus…
Self-managed super funds can carry on a business providing the business is allowed under the trust deed and operated for…
The small business income tax offset can help reduce the tax small businesses pay on business income by up to…
There are no steadfast rules for saving money. Everyone’s financial situation is different; people earn different amounts, need to save…
All businesses, at one stage or another, will have to go through significant change. Change is necessary for growth but…
Recent research has found that an alarming 31 per cent of SMSF trustees consider choosing investments as one of the…
Personal services income (PSI) is income mainly produced from your personal skills or efforts. There are special tax rules that…
When looking to establish or improve your business saving money is a smart strategy, but trying to cut certain corners…
The ATO has changed the conditions of registration for businesses to access the Small Business Superannuation Clearing House. The Small…
The Australian Taxation Office distributes penalties to ensure individuals are not making misleading or false statements regarding income, business and…
Self-managed super fund (SMSF) trustees have onerous duties and responsibilities in relation to the management of their fund. An SMSF…
On 1 August 2017, fuel tax credit rates increased. Some of these rates also changed on 1 July 2017, due…
Recommendations from friends and family are more likely to attract new customers to your business than traditional advertising. However, word-of-mouth…
The Tax Office is warning SMSF trustees that they will be contacting SMSFs that have not regularly complied with their…
Activity statements generally issue from the ATO by the end of the month but in some circumstances they can be…
Term deposits are an easy and secure way to invest your funds. But it is always a good idea to…
Happy employees are productive employees. Employee satisfaction directly correlates with employee engagement, retention and ultimately a better bottom line. Here…
The Fair Work Ombudsman has released a new app called “Record My Hours,” to help reduce the amount of disputes…
Chances are, if you have had more than one job, you will most likely have multiple super accounts. Having multiple…
The Government has announced a new measure in the 2016-17 Mid-Year Economic and Fiscal Outlook to prevent the distribution of…
Ultimately, every investor is different. However, when looking to invest in any startup company, there are a number of boxes…
Crowdfunding can provide a platform for struggling start-ups to raise capital or businesses trying to get ahead with an injection…
With changes to Australia’s superannuation rules coming into play on 1 July 2017, self-managed super fund (SMSF) trustees would do…
The ATO has provided further guidance for healthcare practitioners dealing with lump sum payments from healthcare centre operators. The Tax…
One major key to success is the ability to problem solve. Knowing how to respond to and resolve issues that…
Self-managed super funds (SMSFs) have a number of investment restrictions which apply to transactions conducted within the fund. One such…
The Mid-Year Economic and Fiscal Outlook 2016-17 (MYEFO) announced that from 1 July 2017, the ATO will disclose tax debt…
Running a self-managed super fund requires trustees to adhere to complex laws and follow a number of onerous rules. One…
With the fringe benefits tax (FBT) year ending 31 March 2017, now is the time for business owners to get…
Whether you are looking to make new contacts in your industry or searching for your dream job; networking is essential…
Self-managed super funds can access Capital Gains Tax (CGT) relief to provide temporary relief from certain capital gains that might…
Many small food retailers buy and sell products that are both taxable and GST-free. Depending on the point-of-sale equipment used,…
Financial ratios are useful tools for business owners to monitor, analyse and improve their business performance. A financial ratio contains…
Customer feedback is a great learning source for any business looking to improve their competitive edge. But actually acting upon…
The introduction of a $1.6 million transfer balance cap for superannuation will take effect from 1 July 2017 which is…
From 1 July 2017, many of the 2016 Federal Budget super reforms will take place, including the reduction of both…
Cloud-based storage is becoming increasingly advanced with age. The service’s easy access, tight security, and flexibility are attracting both big…
Taking out insurance through a super fund can be a great option for some members, but it does also come…
The ATO has provided business owners with further guidance on the deductibility of website costs in a recent Taxation Ruling.…
Pre-retirees can take advantage of a range of strategies to boost their nest egg. Here are three popular ways to…
The Federal Court has recently agreed that ride-sourcing is taxi travel. For GST purposes, the word taxi means a car…
Ever-changing trends, increasing competition and changes in customer buying patterns are just a few reasons why business owners should review…
The reforms to superannuation made in the 2016 Federal Budget are on their way with most of the changes commencing…
Fuel tax credit rates increased on 1 February 2017. These rates are indexed twice a year, in February and August,…
An overwhelming majority of people will face debt at some point in their life. Uncontrolled debt can easily snowball and…
While hiring a group of people that work well in a team isn’t always easy, when you do, it can…
Tighter superannuation rules will apply from 1 July 2017 as part of the super reforms announced in last year’s Federal…
The Australian Taxation Office (ATO) has issued a ruling that clarifies the circumstances in which a deduction for bad debts…
Socially responsible business is becoming highly sought after by customers, staff and communities alike. Building a socially responsible business helps…
Workers on the cusp of retirement who are short changed on their superannuation entitlements have nest eggs that are tens…
Business owners who make a car (leased or owned) available for employees to use for private travel may be subject…
Staying productive in the workplace can be challenging – whether it’s interruptions from colleagues, unnecessary meetings or simply distractions such…
All businesses should now be SuperStream compliant. SuperStream is a standard for processing superannuation data and payments electronically. Employers must…
The Australian Tax Office is collecting data from financial institutions and online selling sites as part of their data matching…
The start of the New Year is generally a time to reflect on the previous year’s achievements and challenges and…
The transfer balance cap was introduced as part of the reforms to superannuation in the 2016 Federal Budget and will…
Tax rates for working holiday makers who are in Australia on a 417 or 462 visa have changed. From 1…
Exposure to risk is a big part of investing and although individuals cannot eliminate risk completely, they can implement strategies…
Hiring entry-level employees is a difficult yet unavoidable task for many employers. Entry-level employees are often essential to fill junior…
SMSF trustees have until 31 January 2017 to review their limited recourse borrowing arrangements (LRBAs) to ensure they are consistent…
The ATO have introduced a simpler BAS to take effect from 1 July 2017 to help reduce GST compliance costs…
When carried out effectively, formalised performance reviews can be beneficial for both you and your employees. It is an opportunity…
Contributing extra to your superannuation is a good way to boost your retirement funds. One of the ways you can…
Giving to charity this Christmas is a great way to give to those less fortunate while receiving some extra tax…
Freeing up working capital can help businesses fund growth, reduce debt levels and lower costs. One way to improve working…
Although flexible work spaces are not suitable for everyone or every business, there are significant benefits to offering flexible working…
A new report has revealed around 2.4 million or almost one third of Australian workers are missing out on some…
Despite the Australian Tax Office’s education campaign on GST reporting, many small business owners continue to make errors when claiming…
The name of your business can have a quite an impact when it comes to marketing your brand, how you…
Dividend franking turns 30 in 2017. Despite this, many are unfamiliar with the benefits franking credits can bring, especially to…
If your small business is registered for GST (Goods & Services Tax), most of your sales in Australia will include…
The ATO has provided further guidance regarding limited recourse borrowing arrangements (LRBAs) and when non-arm’s length income (NALI) rules apply…
The holiday season provides the perfect opportunity to connect with customers and leverage off the seasonal shopping period. For many…
The Australian Government has recently passed what it is calling the ‘most significant superannuation reforms in a decade’. The reforms…
A well-written code of conduct is essential for every business – it can provide guidance to staff as well as…
A mandatory component of managing a self-managed super fund (SMSF) is planning out what will happen to the fund if…
The ATO is currently targeting contrived trust arrangements that minimise tax by creating artificial differences between the taxable net income…
When choosing between a home loan with a fixed rate of interest and a home loan with a variable rate…
Converting casual customers into brand-loyal customers is challenging in today’s competitive marketplace. With thousands of brands competing to stay top…
A re-contribution strategy involves withdrawing your superannuation and re-contributing it back into the fund as a non-concessional (after-tax) contribution. It…
Income tests are used to work out a person’s eligibility for tax offsets and benefits which can reduce the amount…
The financial power and freedom that comes from being a successful business owner can be enough to entice anyone to…
With the Federal Government’s proposed changes to the transition to retirement (TTR) pension to take effect from 1 July 2017,…
Tax offsets (also known as ‘rebates’) can directly reduce the amount of tax payable on a person’s taxable income. While…
Pricing a business’s products or services can be a difficult task, even for the most experienced business person. This is…
The amount of tax an individual pays on their super contributions depends on whether the contributions were made before or…
The Australian Tax Office has recently collaborated with industry representatives to develop a safe harbour for car fringe benefits. A…
Many business owners would agree that there are more important things to spend money and time on than simply building…
Australians are required to meet a condition of release under superannuation law before they are allowed to cash preserved benefits,…
The Australian Tax Office has warned small businesses that time is running out to start paying superannuation contributions in the…
Taking out a chattel mortgage to finance the purchase of a business vehicle is an attractive option for small business…
Branding can help small businesses stand out from the competition and gain customer loyalty – but only if it is…
Adding your own contributions to your super fund is a simple and effective way to boost your superannuation. Personal super…
Following an announcement in July, the Australian Government recently increased the 32.5 per cent tax threshold from $37,001 – $80,000…
It can be difficult for small businesses to grow their customer base beyond the realms of the local community. Generating…
Self-managed super funds (SMSFs) are allowed to invest a private company or business provided the business is operated for the…
The Australian Tax Office allows Australians who work at or from their home to claim a deduction for the additional…
Customer complaints are an inevitable part of running a business. Managing customer complaints helps to retain existing customers and improve…
The Australian Tax Office (ATO) is taking a more serious approach to SMSF non-compliance over the coming year. The Tax…
The Australian Tax Office (ATO) is reminding small businesses to transition to SuperStream by 28 October 2016. SuperStream is the…
A well-designed office space is an effective yet inexpensive way to increase productivity levels and improve employee engagement. Healthy office…
The Australian Tax Office has launched a new initiative called Super Scheme Smart to help educate individuals about the pitfalls…
When you are self-employed or run a home-based business, it is vital that you have a business plan that outlines…
Entrepreneurs are particularly independent. No matter how risky starting a business seems, for entrepreneurs, it is the route to the…
Fringe benefits tax (FBT) is a tax an employer pays on certain benefits they provide to their employees, including their…
While many can agree that the majority of business meetings are a waste of time, in some companies, meetings are…
Carrying forward significant capital losses can be a viable strategy for trustees wanting to offset gains and achieve tax savings…
As the countdown begins to Australia’s tax return lodgment date, many individuals in the country may be hurrying to find…
A comprehensive returns policy is imperative for every e-commerce business. It is not only good practice, but it provides customers…
The small business company tax rate has been reduced from 30 per cent to 28.5 per cent. The new lower…
The ATO has recently provided recommendations for self-managed super funds (SMSF) trustees with related party LRBAs that are lodging before…
Quite often, being too slow to name bullying behaviours that pose health and safety risks in the workplace can cost…
Self-managed super funds (SMSFs) that are not well diversified are quite risky investments since they aren’t as protected as they…
Maintaining healthy cash flow can be challenging; between ongoing expenses and bills, poor cash flow can severely impact your customers,…
Quite often, an employee’s level of satisfaction can be traced back to his or her leaders. Indeed, research shows that…
Individuals can minimise capital gains tax (CGT) when selling an investment property where proceeds are contributed to superannuation. Those who…
LinkedIn is usually the most important social media platform for B2B marketing which can also be a valuable way to…
Starting a self-managed super fund (SMSF) may be a good idea for those after more control over investment choices and…
The ATO is currently targeting work-related expenses by taking a closer look at unusual deductions and claims that are higher…
Small businesses should always be open to the idea of reinventing themselves to stay relevant to today’s customers and marketplace.…
The ATO has its sight set on individuals participating in an increasing number of aggressive tax avoidance and retirement planning…
Constructive dismissal, in effect forced resignation, occurs when the behaviour or conduct of an employer is so harmful, adverse or…
It is vital for those with a self-managed super fund (SMSF) to carry out all the necessary checks before purchasing…
The Seniors and Pensioners Tax Offset (SAPTO) is a tax offset for retirees who are at the Service Pension age…
Managing debtors is often a cause of frustration for many small business owners. Unpaid invoices can seriously disrupt cash flow.…
Dealing with unhappy customers can be challenging but with the right approach you may be able to resolve the situation…
There are a number of employee benefits that are exempt from fringe benefits tax (FBT). They include the following work-related…
Finding the right workers can be a challenge. Since much of a small business’s success depends on the quality of…
Refund fraud occurs where tax returns, activity statements and other documents are deliberately falsified in order to claim a tax…
Business meetings can often be a drag. Some go longer than they are supposed to and others involve people talking…
The Australian Tax Office has announced that it will be paying close attention to rental property owners during this tax…
Who’s your customer? That’s one of the most important questions any business can answer, but it’s particularly important for small…
Redundancies, whether forced or elective, can become complex as there are many taxation issues to consider when receiving a payout.…
Businesses starting out will often be challenged by the need to generate brand awareness but with a limited marketing budget.…
When you’re busy trying to build your business, you don’t spend much time thinking about how you’ll eventually end it.…
With the end-of-financial year looming, there are some key strategies you can utilise to maximise your nest egg ahead of…
With tax time fast approaching, now is a good time to review those tax deductions that are often easily forgotten…
Choosing an office space for a business is a big decision; not only do owners have to consider what size…
The ATO has extended its 30 June 2016 deadline to 31 January 2017 for SMSF trustees to review limited recourse…
The Tax Office is focusing on rental property owners this tax time and is encouraging rental owners to understand their…
It is incredible the impact that the physical characteristics of an office can have upon workplace productivity. Elements such as…
Since change is an inevitable part of Australia’s superannuation system, trustees and taxpayers should always be aware of and on…
From 1 July 2016, those who purchase a residential or commercial property in Australia that is worth more than $2…
One of the biggest challenges currently facing business managers and employers is how to retain millennial talent. Younger workers are…
The Taxation Office has recently announced that it is working towards making a simpler BAS to reduce GST compliance for…
Even though most businesses want everyone to be their customer, this is not necessarily the right approach to making a…
Since employee morale can quickly build or hinder a business’s success, business owners increasingly need to focus on keeping employees…
An investment strategy is fundamental when it comes to self-managed super funds. Not only is having one a statutory requirement,…
A quick scan of the average taxpayer’s wallet of receipts or documents in the home office can result in quite…
Staying on top of your records all year round can save time, prevent unnecessary stress and help maximise a small…
The Australian Tax Office has its sight set on an emerging tax avoidance tactic being taken up by a number…
One of the top considerations new business owners face when preparing where to operate is location. Location is one of…
Changes announced in the 2016 Federal Budget will see the shutdown or conversion of tens of thousands of transition to…
Tougher superannuation rules may create an unintended spike in risky property borrowing by those with a self-managed super fund, with…
The Budget has made changes that reflect that the current superannuation system is at a kilter with individuals current lifestyles,…
This year’s Federal Budget is based on a ten-year enterprise tax plan designed to stimulate more small business activity by…
The Budget’s plan to enhance wage subsidies is set to benefit both job seekers and businesses in Australia. As part…
The Budget has introduced a series of changes to superannuation tax arrangements that are intended to align superannuation with the…
The Government is now giving individuals a greater incentive to work without being taxed more by making a start to…
With so many charities competing for donations, it can pay to spend time researching to make sure your money is…
Small businesses operating in an ever-changing environment increasingly need to ensure they get flexible working schemes right. Finding the right…
Insurance arrangements in super can create a few surprise outcomes for members who leave big superannuation funds to start their…
The ATO has identified certain businesses it plans to target for potential tax audits. These businesses include the supermarket, bakery,…
The ATO has issued a statement expressing its concern over recent misrepresentations of transition to retirement income streams (TRIS) and…
Businesses that choose only to hire experienced staff are missing out on the energy, drive and creativity of youth. Many…
Most self-managed super fund trustees don’t give much thought as to how much professional indemnity (PI) insurance their advisor has.…
Categorising the problems and growth patterns of small businesses in a systematic way can increase owners’ understanding of the nature,…
The ATO has begun working with insurance companies to assess artworks and collectibles owned by taxpayers and identify the owners…
After a taxpayer has held a life insurance policy for ten years or longer, the reversionary bonuses received on that…
Marketing online can be daunting for a small business. With the many social and digital platforms available (Facebook, Twitter, websites,…
Members of a self-managed superannuation fund (SMSF) looking to acquire property through the fund need to be aware of the…
Contrary to what some business owners may assume, a cash flow forecast is different from a cash flow statement Cash…
Once your business is up and running, you need to identify and understand what works and what doesn’t. Owners need…
Australian taxpayers should be aware that some promoters claim to offer early access to super savings by transferring a person’s…
Businesses with a GST turnover of less than $20 million who have not been asked by the ATO to report…
Office productivity is not a sprint; it’s a marathon. And while some people are blessed with the power of concentration,…
Many small business owners who run a family business and are nearing retirement face the significant decision of whether to…
With the end of the fringe benefits tax (FBT) year fast approaching, business owners need to be aware of the…
In a rapidly changing business environment, it is essential that owners of small businesses get flexible working schemes right. Today’s…
A responsibility that does not immediately spring to mind when managing a self-managed super fund is working out what will…
It may be beneficial for trustees who buy and sell assets through their self-managed super fund to start a transition…
No matter where your business is in its lifecycle, there is no shortage of challenges that will affect its ability…
Self-managed super funds (SMSFs) are an attractive option for those who want more control over their retirement savings. However, trustees…
Federal Parliament recently passed legislation that will allow small businesses to change the legal structure of their enterprise without incurring…
Cash flow is one of the biggest obstacles facing small businesses trying to secure funds for their growth. On top…
Talking about money makes many of us uncomfortable. Sometimes we’re even conflicted about wanting to make money. Money, after all,…
Australians can make two types of contributions each year; concessional contributions, which are taxed at 15 per cent, and non-concessional…
A large number of Australians who rent out a room in their home, whether it be via Airbnb or another…
Entrepreneurs like to be in charge. You start your business so you can call the shots – not someone else.…
Wealthier individuals in Australia may have to pay higher taxes on their superannuation in the near future, with the government…
Profit drivers are determinants that have a significant impact on a business’s bottom line. They are often categorised as financial…
Over the last couple of decades, few things have changed the landscape for small businesses as much as the advent…
Franking credits are a kind of tax credit that allows Australian companies to pass on the tax paid at company…
With everyone jumping on the social media bandwagon, there is no surprise that businesses are using the continually evolving digital…
There are a lot of advantages to having a self-managed superannuation fund (SMSF). Increased flexibility and control over your savings…
The ATO is currently working with insurance providers in a bid to identify wealthy Australians with policies that cover an…
Applying for a bank loan can be a difficult process. But despite the borrowing challenges facing small business owners, it…
Businesses are becoming more concerned with having an online presence; however they should also be concerned about the security issues…
A transition to retirement allows older workers who are moving towards retirement to continue working, while at the same time,…
FBT law includes different categories of fringe benefits and specific valuation rules for each category. FBT is a tax employers…
As all productive workers know, the end of a working day is just as important as the beginning. While the…
Currently, there are plans to increase the level of compulsory superannuation contributions, paid by employers, from the current rate of…
A capital gain is a profit made from the sale of an asset, for example, real estate investments (the family…
For most Australians, superannuation is one of their most important assets, usually only coming second to the family home. Superannuation…
The ATO has issued its decision on the treatment of bitcoin, and other crypto-currencies, for tax purposes. Bitcoin is a…
Many Australians have superannuation that they have lost track of over the years. The ATO estimates that the total amount…
A new law that prevents taxpayers from benefiting from dividend washing has been enacted. The new integrity rule is intended…
There are a lot of advantages to having a self-managed superannuation fund (SMSF). Increased flexibility and control over your savings…
Backdating to July 1 2014, the carbon charge will be removed from all fuels. The ATO has indicated that this…
While an SMSF may borrow money to purchase a property using a limited recourse borrowing agreement (LRBA), there are strict…
The Abbott government has delivered on its long-standing election promise to repeal the carbon tax, effective from July 1, 2014.…
It has been revealed that Australian superannuation fees are amongst the highest in the world. Many leading economists, including Treasury…
The ATO has introduced a new streamlined online tax return process for individuals with very straightforward tax affairs. MyTax is…
The ATO has recently advised taxpayers to seek a second opinion on before entering into any tax avoidance schemes. According…
We are proud to announce the launch of our new website. In this section, we will post regular updates on…