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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Updating your ABN

It can be an easy oversight to forget to update the ABN details when your business situation or circumstances change. If you’ve ever forgotten to update your ABN in the Australian Business Register (ABR), this article will remind us all why it’s so important. ABN’s are necessary for emergency services and government agencies to identify […]

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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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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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