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 […]

Get your business records ready for end of year

On July 9, 2019

There is a lot to deal with at the end of the financial year, and while your tax return may not be due for some months yet, it is good business to get your 2019 records in order before you get stuck into the next tax year! What records do you need to have ready? […]

Single Touch Payroll/STP

On June 24, 2019

Single Touch Payroll (STP) is a new system of reporting wages, tax and superannuation information to the ATO. Initially, large employers were required to report from 1 July 2018. Now, all employers must enter into the reporting system from 1 July 2019. Small and micro employers have until 30 September to enter the system. STP is a […]

Employing casual workforce? Follow the rules

On May 26, 2019

Having access to a casual workforce can be a great way for your business to manage busy periods while keeping ongoing costs low. Before you jump at the opportunity, it is important to understand the rules. With the increasing casualisation of the workforce in Australia, there is a large and accessible pool of eager workers. […]

Documenting your sales process

On May 16, 2019

Businesses that follow a documented sales process generate more revenue. Prospective customers should receive the same service no matter which member of your sales team they deal with. A documented sales process ensures your sales team knows the correct process to follow; providing prospective customers with a consistent experience. It’s important to include your sales […]

What is employee engagement and why does it matter?

On May 2, 2019

An engaged employee is a team member who is fully absorbed by and enthusiastic about their work, and who takes positive action to further a company’s reputation and interests and achieve their goals. More importantly, what does a disengaged team member look like? The symptoms range from a negative attitude, poor communication, absenteeism, lack of […]

Profit Vs Cash

On April 28, 2019

There’s a massive difference between profit and cash. Let’s explore the differences to make a better plan to increase both. 1. Sales. Profit increases when you increase sales; cash increases when you collect the money from customers. To increase both your profit and cash from sales: Delight your customers Generate more leads and referrals Convert […]

Make your business more profitable

On April 21, 2019

Making a profit isn’t something that happens overnight – to create a good return from your business you need a clear focus and a well thought-out strategy for increasing profitability. This means reviewing your business model and looking at every area of the business, to see where you can cut costs, increase margins and maximise […]

What’s the point of market research?

On March 28, 2019

A successful small business needs to have customers making purchases, ideally over and over again. You can make that an easy decision for them, by finding out (and providing) precisely what they need. Market research is the way to do that. It will help you ensure that your product or service meets your target customers’ […]

Are you a slave to your business?

On March 10, 2019

Your business is there to serve you; not the other way around. In other words; you should never be a slave to your business. Being a slave implies a victim mentality – that the world has simply dealt you a bad hand, that you have no say in the matter. Perhaps you hear yourself thinking […]

Tag: Running a business