Category: Business


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Contractor or Employee – What You Need to Know

  • On October 27, 2020
What is the difference between a contractor and an employee and whose responsibility is it to get right? An employee works in the business and is integral to that business has rights and entitlements under the Fair Work Act 2009 has a reasonable expectation of ongoing work, agreed hours and duties is covered by the […]

6 Common Tax Mistakes That Small Business Owners Make

  • On September 21, 2020
Managing tax is indeed a pain for many self-employed individuals and small business owners. There are so many tasks that you have to manage, and the last thing on your mind is to sit and look through your books for hours. However, it’s vital to keep your tax under control if you want to avoid […]

6 Reasons To Look at Your Financial Reports

  • On August 18, 2020
Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to do this, either because you’re too busy, or perhaps you don’t really understand what you’re looking at and it doesn’t make sense to you, then here are 6 reasons […]

JobKeeper Scheme extended and Amended

  • On August 8, 2020
The government has announced changes to the JobKeeper payment scheme, which will see it continue until March 2021. The current system will remain unchanged until 27 September 2020 as planned, providing $1,500 per fortnight for employees and eligible business participants. However, from 28 September the changes will apply. There are several amendments that business owners […]

Taxable payments annual reporting(TPAR)

  • On August 1, 2020
The TPAR details payments made to contractors for providing services. Some government entities also need to report the grants they have paid. If your business makes payments to contractors or subcontractors you may need to lodge a Taxable payments annual report (TPAR) by 28 August each year. TPAR reporting is applicable for the following Industries: Building & Construction services Cleaning […]

15 Tips to Save Money on your 2020 Tax Bill

  • On June 12, 2020
The end of the 2020 financial year is fast approaching. Have you looked at the financial performance of your business to date? What about your year to date personal/family income and expenses? Now is the right time to take stock and review all this. Over the next few days, you can take appropriate steps to […]

4 Reasons Why Your SME Should Outsource Accounting Services

  • On June 5, 2020
A crucial decision for small business owners is deciding when to outsource their financial processes. They might be able to perform accounting functions for a while, but as the business gets more revenue, they should actively consider getting a small business accountant.  When they’re ready, they can hire someone in-house, but an outsourced accounting service […]

The JobKeeper Payment – support for Australian businesses and sole traders

  • On April 6, 2020
The Government has announced a range of new measures to support Australian businesses, employees and sole traders. The JobKeeper Payment aims to support businesses to maintain their income and connection with employees. These connections will enable businesses to reactivate their operations quickly after the crisis is over. The JobKeeper Payment Eligible businesses will be able […]

Covid-19 – Concessions by State governments and Banks

  • On March 24, 2020
This article covers the various concessions and grants initiated by the state governments and some banks in response to the outbreak of Covid-19. Victoria Payroll tax waived: Businesses with annual taxable wages up to $3 million will have their payroll tax for the 2019-20 financial year waived. Eligible businesses must continue to lodge returns but do […]

Summary of Stimulus packages: COVID-19

  • On March 23, 2020
Over the past six months, Australians has faced devastating natural disasters including drought, fires, floods, and now, the outbreak of coronavirus (COVID-19). Governments, businesses and communities all around the world are facing unprecedented challenges. In the midst of these difficult times and to keep the cash flowing through the economy, the central Government has released […]

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