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3 Things You Need to Learn from 2020

  Small businesses employ almost 50% of Australian workers, so there is no doubt they are essential for keeping Australians employed. 2020 was a rough year for small businesses, having to adapt to the tumultuous new commerce landscape. Lockdowns, loss of income and insecurity saw businesses struggling. However, strife often …

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Repercussions of a Pandemic. How to Thrive.

  There’s no ifs or buts about it. Your business, no matter how big or small, has likely been affected by the COVID-19 pandemic. The pandemic has crippled businesses around the world as they fight to retain customers and find new ways to stay relevant in a rapidly evolving market. …

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Cash Flow Problems? Consider These Tips.

Cash flow is the number one reason businesses fail. If you’re in this tough position you’re not alone and we’re here to help you get back on top. We’ll outline likely causes of cash flow problems as well as tips to help you deal with them. What went wrong? Asking …

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Employee vs Contractor – Which is Right for Your Business?

If you’re new to employing a team (even if you’re not, but you’re not 100% clear) thinking about the difference between a contractor and an employee can be confusing. Furthermore, there are some well established myths that are misleading at the very least. Even though it can be confusing, it’s …

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Got an eCommerce Business? Get the Basics Right.

If you’ve set up an eCommerce business, there are many things to learn, manage and plan. Many of those things are interesting, involved, even exciting. Possibly the last thing on your list is setting up accounting. But if you think about it, accounting is one of the most important aspects …

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What is an Outsourced CFO?

Let’s start with – what is a Chief Financial Officer (CFO)? The CFO is the person responsible for all the financial aspects of your company. The CFO will oversee those responsible within your company for maintaining accurate and timely books and keeping up with tax implications. The CFO will also …

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New Business Registrations

There are many things to consider when starting your own business and while it can be a very exciting time, it can also be quite daunting without sound advice. The legalities need to be carefully understood and this is where a good accountant will be your best friend and advisor. …

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Setting Goals for 2021

The end of the year is a time when many people set goals – both professional and personal. Make it a powerful way to launch into 2021, and hit the ground running in the new year. We’re here to share why and how to set goals, plus how to achieve …

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Your Office Christmas Party – And Tax

  It’s almost that time of year again. It’s silly season, where we allow ourselves to let our hair down a little and indulge in end-of-year festivities. The celebrations may look a little different in 2020 than any other year – and depend on which state in which you live …

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Why and How to Change Business Structure

  When beginning a new business, many entrepreneurs start with sole trader status. As your business grows, it may become necessary to change structures. Similarly, when purchasing a business, you may identify that the structure is not ideal and seek to make a change. There are many things to think …

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How to Keep Electronic Records

  Keeping great records is important for every business. It’s tied to legal and tax obligations, but it also allows you to keep track of how your business is performing. In this article we’re going to explore the pros and cons of using an electronic record-keeping system, and what you …

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How to set and reach achievable goals

2020 has been a year of challenges, but also a year of rethinking. There’s no doubt that lots of new ideas may have passed through your mind. Whether it was rethinking your work-life balance, saving money, or shifting towards a new business plan, there are many ways in which you …

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Making the Most of the Middle Income Tax Offset

Last year, many Australians were confused by the “low and middle-income tax offset”. The good news is that not only was it extended to FY 2019/20 but that it will also be available for FY 2020/21. In case you’re confused by the concept or your circumstances have changed, we’re providing …

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How to make your business stand out

Let’s face it. The market is saturated with products and services of all kinds. Whether it is a new technology, fashion or new yoghurt brand, it is hard to find something that hasn’t been invented or seen before. And this when the value becomes critical. The value proposition is something …

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Making the most of the $150k Asset Write Off

The Australian Government has been helpful in the Covid19 crises, and so far announced multiple packages on how to help SME businesses. One of them is an instant $150k Asset Write Off which came into effect in March and has been extended until 31st December 2020. What is an instant …

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The power of a 1-page business plan

A new business idea has sparked in your head, and you are ready to move forward? Or perhaps you have been running your business for a while and thinking of progressing to a different stage? Having a clear direction supported by exact steps is crucial for any business. And that …

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Record-Keeping Requirements for Business

The start of the financial year is a great time to review and understand the requirements of record-keeping for business. If you can stay on top of your record-keeping throughout the year, you’ll have less of a headache come tax time next year. Not only that, but sound record-keeping in …

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How to Find a Good Accountant for My Business

While some leave it until the last minute, selecting an accountant for your business is an important exercise. It can mean the difference between comprehensive reporting and maximum tax returns and leaving money on the table. It can also ensure you receive timely, accurate advice regarding your business structure, practices, …

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Maximising your tax deduction

And just like that, we are in a new financial year. The start of 2020 has been bumpy for lots of individuals and businesses, throwing a curveball and affecting not only professional but personal lives as well. Tax deductions can be overwhelming: what to claim, and how much? What about …

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What Grants are Available for Businesses?

Over the past few months, there have been a range of funds and grants made available for businesses to help with the fallout of COVID-19. While some of these have closed, we’ve researched a few other avenues that may be of interest, if you’re looking for support to help you …

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