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Category: Tax

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Are you playing in the Business growth game?

  • On August 15, 2019
What’s your business growth looking like and where were you 12 months ago compared to today? If you haven’t given it much thought it is probably because you’re always stuck in the day-to-day operations. But it is worth spending some dedicated time to do some reflecting and planning. Growth doesn’t need to mean more risk, […]

The importance of tax planning for directors

  • On August 8, 2019
Paying tax is something you’re likely to see as a necessary (but not hugely enjoyable) part of running your business. But are you doing enough to plan your own personal tax liabilities? As a director, you’ll pay your income tax annually on a self-assessment basis. But there are plenty of ways to make this a […]

Put the customer at the centre of your business to drive sales

  • On July 29, 2019
A starter’s guide to selling relevantly Advances in technology have impacted the way customers research products and services, and how they shop. Customers have often done their homework and researched all the various options available, and as a result, they think they have all the answers. They will confidently walk into your business telling you […]

Supercharge your business and improve business performance

  • On July 22, 2019
Here are ten ways to make sure that you continue to drive through each business quarter with purpose, vision and the courage to super-charge your business. 1. Eliminate distractions: Time is the scarcest resource and biggest killer for most businesses. Owners get distracted and focus too much time and energy on the wrong things. Be brave […]

What is Fringe Benefits Tax?

  • On July 12, 2019
Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee (or an employee’s associate e.g. a family member) in place of salary or wages. This is separate to income tax and is calculated on the taxable value of the fringe benefits provided. In simple terms, it is a tax […]

Issue payment summaries for non-employees you have withheld tax for this year

  • On July 4, 2019
Annual payment summaries must be provided to your employees and any other people you have withheld tax for by the 14th of July. Start reviewing the year’s payroll and relevant supplier reports now so that you can issue the payment summaries without delay. If you have withheld tax on behalf of people who are not […]

Setting the right business goals for growth

  • On July 1, 2019
If you’re going to grow your company in the right way, pinning down your goals and having a clear vision for the business from the outset is vital. You may want to increase profits and create an income that supports your lifestyle, or you are looking to increase market share and aim for hypergrowth. You […]

Choosing your Business Structure

  • On February 25, 2019
Starting a new business is both very interesting and challenging. There are a large number of things that you need to plan and work on from business systems, Marketing, Sales, Taxes etc However, choosing a business structure is very critical just like the foundation of the house is very critical for the house. The cost […]

What is Negative Gearing and how does it Work?

  • On February 17, 2019
If you are thinking of buying an investment property to create wealth, it is very likely that you would have heard of the term Negative gearing. It is a common practice when it comes to investing in property in Australia.  In fact, 1.28mn(Source ATO statistics for 2015-16) or 1 in 10 Australians who file a […]