Accounting
Strategies for managing staff and skills shortages
Over 90% of businesses are experiencing workforce shortages, according to the 2022 Workforce Skills Survey, from the state’s peak business organisation, Business NSW. So how can business owners take control of something that feels very much out of control? The annual survey of over 600 businesses across the State was conducted through the last week of May…
Read MoreNowhere to hide: ATO in hot pursuit of dodgy claims and tax debt
The Australian Tax Office has issued a warning to tax payers not to try to make false claims or ignore collection communication. The result will be forceful follow-up and audit action. Dodgy claims: It feels as though the ATO issues the same warning each year: don’t claim unrelated expenses! And yet, some people are still…
Read MoreHealthy habits for SME’s this new Financial Year to save time and tax
One of our favourite sayings is: when the going gets tough, the tough get going. Never has it been more relevant for business owners everywhere. To get you going this new financial year, there are some simple things you can do to boost your business health, and save time and tax. Year-round advice Many business…
Read MoreBad Google reviews: what they cost your business and what to do if you get one
In this age, when everyone is a critic, business reputation is very much in the hands of the consumer. This can absolutely go in your favour. Good reviews build prospect trust and trial. But a small number of bad reviews can significantly impact your bottom line, and how you handle it could be worth a…
Read MoreCOVID relief is over for business owners, and now the struggle is real
We don’t like to focus on the negative, but bear with us on this one. Small business owners currently face government legislated (and industry-led) wage and superannuation increases, increasing energy and supply costs, a tight labour market, increased pressure from the ATO…where can a business owner – who employs Australians and supports the Australian economy…
Read MoreWhat a Labor government means for small business
After 9 years of Liberal government, small business is watching with bated breath to see if Labor is able to support them in the way that they need. Here’s what they’ve promised so far… Albanese has enacted his campaign promise of a minimum wage increase of at least 5.2%, in line with headline inflation – see…
Read MoreSmall business defence against inflation
Inflation is the latest concern for small business. Levels in the USA are concerning, and while it is not as bad here in Australia, trends such as higher cost of living and increasing interest rates have us all on alert. The current inflation rate is 5.1% – Small businesses need space and opportunity to rise…
Read More10 steps towards a smooth EOFY
With the Australian Tax Office (ATO) back in full collection mode after some leniency during the COVID peak, it is essential that businesses and individuals not only do due diligence this EOFY, but protect against an audit as well. Here’s a step-by-step guide… 1. Schedule time with your accountant A simple first step that enables…
Read MoreHow SMEs can stay on top of business
The last two years have taught us all that the world is increasingly unpredictable. Business owners and managers have less control than ever, but there are two simple things businesses can do NOW to prepare for the next unpredictable event, and ultimately stay on top. Risk management planning By definition, risk is something that poses…
Read MoreFederal Budget 2022/2023
On Tuesday 29 March, the 2022/2023 Federal Budget was handed down by Josh Frydenberg. The measures announced in the budget are of course subject to legislative approval and to any policy changes which may come about if there is a change in Government at the federal election. Here’s a summary that we think will be…
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