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How to get a good start in the new year

When it comes to preparing your business to hit the ground running in the new year, the best thing you can do is speak to your accountant. They know the ins and outs of how to properly prepare your business for the new year, whether you close for the holiday …

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The Best Way to Plan Your Work Christmas Party

Planning your work Christmas party can be a huge task and Fringe Benefit Tax can be confusing and add up quickly if you’re not careful. So it’s important to take advantage of all the tax exemptions you are entitled to during this process. In this article, we will discuss how …

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Four things every employer should know about superannuation

If you are an employer, your superannuation is a huge part of the payroll process. Superannuation payments are often overlooked when cash flow gets tight or when internal processes aren’t in place to handle it. Super needs to be paid on time, every month. If not paid on time, you …

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What you should be asking your business accountant

When meeting with a financial professional, be it a financial advisor, a tax agent, or a BAS accountant, it is important to know what to look for when it comes to choosing your financial management team. A few practices you should assess include: Regularly assessing your financial situation Current and …

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RBA keeps cash rate at record low

The Reserve Bank of Australia (RBA) recently announced that the cash rate will stay at 0.10% for an eleventh month in a row, despite continued rapid rises in house prices. It also announced that it will maintain its quantitative easing program. These historically low cash rates have held strong for …

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Trading Crypto As A Company

Cryptocurrencies have been around since 2009 and represent a decentralised form of digital currency. They are not backed by any government, but instead rely on cryptography to process transactions securely. The idea is that they provide a way for people to trade money as quickly as sending an email, with …

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Protecting Yourself from Online Fraud

It’s nearly impossible to fully protect yourself against fraud, but there are some things that you can do to significantly reduce your risk. Taking precautions such as avoiding unsecure websites, being suspicious of emails from unknown sources, not providing personal or financial information when not necessary, and installing antivirus software …

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Onsite vs Remote Employees: Pros and Cons

It’s often a difficult decision for businesses to make. Do they hire onsite employees, or do they hire remote employees? There are many factors to take into consideration when making this decision. Below we’ll explore the differences between hiring onsite vs remote employees and which option is likely going to …

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Small Business CGT Concessions

There are four Capital Gains Tax (CGT) concessions for small businesses that allow you to lessen the impact of a capital gain from an active asset that is being used in a small business. All four concessions rely on the same basic conditions to be met: you’re a small business …

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3 Ways to Get the Most out of Your Advisor

Many small business owners visit their financial advisor at the end of the financial year (EOFY) to get help with things like tax deductions and reporting. However, advisors are a valuable resource you should utilise all year round. If you are only consulting with your advisor every now and again, …

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5 Ways to Kickstart the New Financial Year

Before you dive headfirst into the new financial year, why not take stock, dust off your finances, and use these five strategies to kickstart the new financial year. 1. Streamline your systems Are you doing things the way they’ve always been done? The new financial year is a great time …

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Cyber Security Awareness & Risk Reduction

Two out of every five small businesses have experienced a cyber attack. That is a staggering statistic. So what are you going to do about it? Now is the time to make cyber security and risk reduction a top priority. It is time to review processes and platforms, and determine …

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Get Everything Organised for the End of Financial Year

The end of financial year is fast approaching which means it’s time to get your affairs in order before June 30 to help maximise your tax refund. Here are five options that you could potentially use to maximise your tax refund this year. 1. Organise your records Now is the …

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Understand & Reduce Your Operating Costs

One of the biggest financial challenges faced by small businesses is operating expenses. According to Semrush, 66% of small businesses face financial challenges, with 43% claiming the most prominent challenge is paying operating expenses. Operating expenses cover labour costs, employee benefits, insurances, necessary tools etc. With 2020 proving to be …

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4 common business accounting mistakes to avoid

A strong financial foundation is critical for growing your business. Avoid leaving money on the table by getting your accounts and processes up to scratch. There are countless businesses who make these four common accounting mistakes: Relying on spreadsheets Incorrectly setting up their chart of accounts Accounting on a cash …

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4 Reasons Why You Need an Accurate Business Activity Statement (BAS)

Your Business Activity Statement (BAS) is one of your most important tools when it comes to operating a business in Australia. Keeping your records up to date and accurate will save you time and money when it comes time to submit your BAS. We are going to share 4 reasons …

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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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