Posts Tagged ‘Business advice’
Managing Cash Flow: Using Financial Statements to Stay Ahead
Cash flow is the lifeblood of every business – no matter how profitable it looks on paper. Many small and growing businesses stumble not because they lack customers or revenue, but because they don’t manage their cash flow effectively. The good news? Your financial statements hold the clues you need to stay in control. …
Read MoreHere are key reasons why profit is more important than sales for small business owners:
1. Profit Pays the Bills — Sales Don’t Profit is what’s left after all expenses are paid. A business can have high sales but still lose money if costs are too high. Profit ensures you can meet your expenses, pay yourself and reinvest in the business. 2. Sales = Vanity, Profit = Sanity High sales…
Read MoreWhy Keeping Your Business Records Up to Date Really Matters
Running a business is busy work. There’s always something more exciting (or urgent) than sitting down with receipts, invoices, and spreadsheets. But from an accountant’s point of view, keeping your records up to date is one of the smartest things you can do for your business – and for your own peace of mind. What…
Read MoreThe Great Tax Divide: Big Corporations pay $100 billion tax but Small Individual Tax Payers pay $330 billion
The Australian tax system has long been a contentious topic, especially when it comes to the disparity between what small taxpayers contribute and the relatively lower share paid by big corporations. While individual taxpayers collectively fork out $330 billion annually through PAYG (Pay As You Go), large corporations contribute only around $100 billion. This imbalance…
Read MorePractical Business Advice That Works
Business Advice Your Business Activity Statement Are you lodging BAS returns on time? Most businesses need to lodge their business activity statement, (BAS) each quarter (i.e. 1st July to 30th September). Your BAS returns due date depends on whether or not you do it yourself or use a tax agent. However we find that completing…
Read MoreSuperstream Compliance Update
ATO and SuperStream Compliance The Australian Taxation Office has extended the SuperStream compliance deadline from 30th June to 28th October 2016 for small businesses. To recap, SuperStream is electronic payments for super that pay many funds in one transaction. All that is needed from your employee is: Tax file number Employees super fund ABN Unique…
Read MoreFringe Benefits Tax and Employment
Employees and Fringe Benefits Tax Small business owners should consider carefully fringe benefits tax and casual employees. Rostering on casual labour is a fantastic way to ensure full staff coverage for important events or busy times. Each year the holiday period for businesses is a busy time, one where extra staff is crucial. Employing…
Read MoreAsset Protection Can Save You Thousands Of Dollars
Are your business assets protected? As you know, asset protection for business is as important as managing them and protecting your future is just as important. If not more so, especially whilst building for your future. There are many ways to minimise your risk whilst reaping…
Read MoreNatural Disasters And Your Finances
Small business and natural disaster preparation Small business and natural disaster preparation is something that should be in your business planning. Generally, our office houses all our important documents right down to our children’s first teeth. All easily accessible at any time we may need those records. What would happen though if disaster struck…
Read MoreSolutions For Common Business Problems
Plan and Relieve Uncertainty Uncertainty in the market place creates the need to focus on the present, neglecting the future needs and growth of the business. Therefore it’s important to balance short term goals with a long term approach. Short term results are just that and a business does not survive the long haul without…
Read More