Whether large or small, every business experiences a period of turbulence. Thus, companies tend to pursue business restructuring to stay afloat and conduct business more efficiently and profitably. Companies undergo a restructuring process to deal with any weaknesses and inefficiencies. These may include a fall in profit margin, changes in ownership or corporate strategy, or…
Changes to Work From Home Deductions – 2023 An ATO review of the new Work-From-Home Deduction methods were announced by the Assistant Commissioner Tim Loh. As the $0.80 ‘Short Cut Method’ was made redundant after the 30th of June 2022, meaning Tax Returns in 2022-2023 will have to use one of two methods when claiming their…
Many times, businesses feel hiring a tax professional is an unnecessary expense and that they can manage the business finance themselves. However, the reality is quite contradictory. It is always better to hire experts when it comes to real assets, tax obligations, cash flow management, and bookkeeping activities. More than an expense, hiring professional accountants…
Doing a business is not a one time task and requires one hundred percent dedication of the persons involved. If you are a migrant in Australia and looking forward to starting a new business, you should consider taking help from an expert. Whether you want to buy an existing business or want to start from…
We have often heard about the vitality of business planning for companies in their early stages of development. However, business planning never loses its importance at any stage, whether it’s a small, medium or large scale business. Business planning has to have a holistic approach, whether to achieve the temporary survival goal or long-term expansion…
All small and medium-size businesses require funding to operate and grow. While some business owners manage to bring sufficient capital to their businesses, most of them depend on outside sources to have enough working capital. It can be of various forms, such as equity investments, bank overdrafts, loans from credit providers, or cash from friends…
Are you a small business owner? If so, have you been looking for the best bookkeeping service providers to support your business? You might be wondering how vital bookkeeping services are. In this blog post, we will discuss how effective these services can be in helping your organization thrive and grow. First of all, it’s…
Small business owners have to face many challenges to achieve desired growth. One of the main reasons for small businesses to fail is poor financial management. Many firms avoid hiring accountants or take accounting and financial services from professionals. As a small business owner, taking experts’ help on accounting and financial matters might seem unnecessary….
ALL BUSINESS – THINGS TO BE WATCHFUL OF As the Covid19 pandemic sweeps across the globe, the Australian government has provided emergency support to the Australian economy. The underlying cash deficit for 2022 has been forecasted to be $106.6 billion. The Australian tax office is now back in full swing to conduct audits to ensure…
The COVID-19 pandemic and recent lockdown orders have continued to place Victorian businesses in compromising and challenging situations. Both State and Federal Governments have announced they will be providing further economic assistance to help businesses navigate these uncertain circumstances. Whilst the support is certainly welcome, keeping up with the latest assistance packages has placed…
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