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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. Business registrations can take various[…]

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 them. Why Set Goals? Lewis[…]

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 – but the tax implications[…]

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 about when it comes to[…]

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 should consider when choosing one.[…]

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 may have dreamed up new[…]

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 an update on this popular[…]

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 that sets you apart from[…]

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 asset write off? According to[…]

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 is the exact job of[…]

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 your business will enable better[…]

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, entitlements and more. Steps to[…]

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 COVID-19, JobKeeper and JobSeeker stimulus?[…]

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 weather the storm. Indeed, the[…]

How to Save Money in Your Business

Saving money for your business is obviously a great initiative at any time. During hard times, however, it’s arguably even more valuable. Do you know how to save money in your business?    The year of 2020 has, so far, been dominated by COVID-19 in many ways, not least of all the economy. Communities, businesses,[…]

Your 4 Week Plan

It’s no secret. COVID-19 has thrown most (if not all) businesses a curveball in 2020. Chances are you are either overrun with increased demand or, as is more common, the business has taken a hit and you’re busy pivoting and dealing with employee implications (among many other things).    Either way, it’s not something you[…]

Should I Withdraw My Super Early?

Many people have been affected financially by COVID-19 and the resulting impact on employment. In an effort to support individuals and families, the Australian government has relaxed some of the regulations around early access to superannuation. Up to $20,000 can be withdrawn over the next 2 years if you are eligible. But should you withdraw[…]

Why Fringe Benefits Tax Matters to You

Employers pay Fringe Benefits Tax (FBT) on certain benefits that are provided to their employees, employee’s families and associates. For FBT to apply the person must be considered as a current, future or past employee, a beneficiary or the director of a company. FBT is created for the employee’s benefits and is levied by the[…]

Updates to Australian Government Support for Coronavirus

Recently the Australian Government announced a number of measures to support Australian businesses and individuals during this unprecedented time of uncertainty amid Coronavirus. They’ve now also announced the second phase of that package, with greater levels of support.  QC Accountants is here to support you through this challenging time. We’ve drafted the below summary of[…]

Coronavirus and Your Business – Support is Available

Australian Government Coronavirus Support for Businesses The past 48 hours have seen an escalation of responses to COVID-19, following the World Health Organisation’s categorisation of the spread of the virus as a “pandemic”. Economic impacts are being felt – and the Australian government is implementing urgent measures to support businesses through what may be a[…]