Understanding Deductible Christmas Expenses in Australia

The holiday season is a time for giving and spreading joy, but it’s also a time for businesses to consider their financials. In Australia, understanding which Christmas expenses are tax-deductible can be beneficial for business owners. In this article, we’ll explore the tax implications of holiday gifts to clients, gifts for employees, and charitable donations […]

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How much revenue do you need to make to optimise your profit?

Do you know how much revenue you need to make to optimise your profit? Ask your numbers, they will tell you a story. First off, you need to have a clear understanding of your business’s capacity and revenue potential. Let’s unpack this a little… Your firm’s capacity = your revenue potential How do you know […]

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How fuel prices affect your business and your payroll

Small businesses are often hit hard when gas prices increase. Rising fuel prices not only require businesses to raise their operating capital to cover higher costs like freight, supplies, rent and overheads, etc. but will also make it more difficult for employees to commute to work. Not to mention the household expenses that are also […]

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Small Business & The Bookkeeper

The Vital Role Bookkeepers Play in Helping Business Bookkeeping plays a vital role in small business operations, but how much business owners know about the profession? What do Bookkeepers do, and what are some of the benefits of bookkeeping? Bookkeeping is more than just keeping the financial records up to date and accurate. It is […]

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What’s on your wish list for the New Financial Year?

1st July often brings changes that businesses and employers have to take into consideration. This year will be no different. We may be able to help you make your wish come true! Here are a few to kick off the new year: Minimum wage increase by 2.5% It is important to understand that this refers […]

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JobKeeper 1.0 changes into 2.0

It is over for many but continues for some… JobKeeper 2.0 Less employers, less employees, lower rates and two different tiers. Fair Work JobKeeper discretions continue for some… Which Employers? Businesses currently receiving JK who experience an ongoing decline in actual GST Turnover of 30% or more (50% large, 15% NFP) or A business is […]

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Paid Parental Leave (PPL) can now be split

As per the Paid Parental Leave (Flexibility Measures) Act 2020, changes to PPL commenced as of 1 July 2020, providing eligible persons with more flexibility to use and extend parental leave pay (PLP). An eligible person is entitled to 18 weeks of paid parental leave. PPl is paid in instalments by the employer or the […]

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Your Income Statement – Where do I get it from?

No more ‘Group Certificates’ or ‘PAYG Payment Summaries’ with STP What changes this year? Your employer now reports your wages through STP and every time you are paid, your tax (PAYG) and super information is sent the ATO in real time. This means that when your payroll information is finalised for the financial year with […]

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Is an Uber a Taxi? – Part II

Yes but Yes! Ride sourcing now considered ‘taxi travel’ for fringe benefits tax purposes In another blog last year we discussed the ATO’s position on ride-sourcing and the FBT taxi travel exemption. The law back then said that the taxi travel exemption from FBT did not extend to ride-sourcing vehicles like Uber. The taxi travel […]

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Working From Home: Digital Security

Now that many small businesses have settled in to a new way of working, with many staff working from home, it is a good time to consider digital security; a time to look at backup plans to ensure data access, protection and retrieval. You will need to consider security measures for your employees’ home or […]

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