Working from home expenses

On March 26, 2020

With social distancing policies in full force in Australia due to COVID -19, a lot of employees are required to work from home. Working from home has its own challenges and it definitely leads to increased costs like electricity, heating, cleaning, Mobile etc. But thankfully, you are entitled to claim expenses incurred because of working […]

Do you run your business from home?

On December 10, 2019

ATO has issued some new guidance to businesses claiming home office expenses for home-based businesses. What are Home-Based Businesses? A home-based business can be run at home like a boutique or from home like an electrician who visits the client’s site but does all the admin work from home and stores tools etc. Home Office Expenses Normally, if you […]

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. […]

Tag: Running a business