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Tag: Running a business

Holiday cashflow for your small business

  • On November 8, 2019
Whether you’re heading into a holiday period, or just planning to take a break (and congratulations, because a healthy business means work-life balance), it’s important to keep your cash flow under control. This means pre-planning and being proactive. When you’re not in the office, there are still overheads and salaries that need to be sorted. […]

What’s in the Forecast

  • On October 7, 2019
When we set out on a fishing trip or hike, we always check the weather forecast. It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the direction we’re heading. Your forecast will tell you: Whether you have enough sales in the pipeline to give you […]

Dividends and paying yourself as a director

  • On September 20, 2019
As the director of a limited company, dividend payments are the usual way for you to take money out of the company – and see a financial return on your investment into the company. Dividends are payments made to the company’s shareholders when the business has made a profit. What’s not re-invested into the company […]

Automation can ease your business workload

  • On September 15, 2019
Small and medium-sized businesses are spending on average 120 hours a year on admin tasks, according to recent research into productivity at UK SMBs. If your people are spending 120 hours wading through tedious and unproductive admin, that’s bad for the business and for your overall efficiency. Fortunately, technology and software automation can go a […]

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 […]