A Basic Guide to Bookkeeping for Small and Medium Businesses
March 17, 2020
Every business, no matter the size, needs effective bookkeeping. However, if yours is a small or medium business, it’s a possibility that you are a newcomer. A constructive bookkeeping process will ensure that you stay at the top of your business finances, being able to make better gains and utilise your funds in the best…
Read MoreHow to Identify Market Opportunities for Business Growth
February 21, 2020
The global economy has always been volatile, however modern day technologies and scientific advances have shortened the life cycles of various products and services, disrupting the traditional business model, and giving rise to more competition. In this scenario of constant competition and instability, it becomes all the more important to seek out fresh business opportunities…
Read MoreHow to Make this Festive Season FBT Friendly
December 6, 2019
The Christmas season is here! Festive celebrations, gifts and entertainment become common occurrences at the workplace during this time of year. However, most employers get a shock during the annual audit toward the end of the financial year, as they realise the overall cost of gifts and partying doubled up due to the Fringe Benefit…
Read MoreExpanding Your Business to Asia? Here Are a Few Key Considerations
November 7, 2019
With a staggering population of over 4.4 billion spread across over 50 countries, Asia has a distinctly diverse business landscape. Naturally, they are one of the most favoured consumer markets for international businesses. The diversified market and business environment are undoubtedly untapped goldmines; however, it has its own set of challenges. Its divergent nature makes…
Read MoreTick these Crucial Checkboxes For a Profitable Business Expansion
October 9, 2019
Did you know small and medium sized enterprises (SMEs) have the lion’s share in Australia’s GDP? According to a report, small businesses form the backbone of the Australian economy with a colossal contribution of 57% to its annual GDP and 7 million job generation. Owing to favourable market conditions and increasing investments, the SME sector…
Read MoreTake Charge of Cash Flow In Your Business with These Tips
August 30, 2019
It is no secret that insufficient and poorly managed cash flow can cripple even the most profitable businesses. According to a new study from Wakefield Research, commissioned by Intuit Australia, small businesses in Australia have lost opportunities worth $5.8 billion due to inadequate cash flow. It is essential to take control of your cash flow to…
Read MoreKeep your Business on Track by Staying on Top of your Bookkeeping
August 9, 2019
Financial management is no child’s play, especially when your business is still taking baby steps in the volatile market. Inadequate cash flow and haphazard finances can cost you dearly, taking your business back to square one. That’s the reason why you need to iron out your finances early on to survive, thrive and flourish in…
Read MoreNew Financial Year 2019-20: Get Your Finances in Order
July 1, 2019
The start of a new financial year is the right time to start preparing your business for the fiscal year 2019-2020. Implementing a smart and proactive plan plays a pivotal role in ensuring finances are in order, and your business is well prepared for the year ahead. Here are some tips that will help you…
Read MoreTips to Avoid Getting Red-flagged by the ATO
June 13, 2019
As the ATO continues to upgrade their data matching capabilities each year, tax audits are becoming increasingly well targeted. For those who are audited, this can be very stressful and also potentially expensive. The ATO is becoming better at detecting returns that forget to declare foreign income or claim an usually high amount of work-related…
Read MoreStartup Tax Incentives – A Comprehensive Guide
May 10, 2019
In the last decade, Australia has had an exponential rise in the start-up sectors. An underlying aim of the Australian government’s new tax benefits is to encourage and promote entrepreneurship by assisting investors. The government intends to address a funding gap issue between pre-concept stage investment and support finance. Therefore, the government has started two…
Read MoreTax Tips – Earn a Better Return on your Tax Refund
April 9, 2019
As we are almost at the end of the financial year, here are some simple tips that will help maximise your tax refund. 1. Make Investments in Property Although your tax return is nowhere close to the value of a house deposit, you can still use it to invest in a property. With platforms like…
Read MoreFour Amazing Tips for Cryptocurrency Tax in Australia
March 8, 2019
The transaction and use of cryptocurrency in Australia are evolving rapidly. If you’ve bought, sold or even traded using cryptocurrency, you have a tax obligation to retain records. Here are a few essential tax tips that you need to consider if you have made a profit by trading in cryptocurrency: 1. Sort out Tax Liabilities…
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