How to avoid paying too much GST No business owner wants to pay more than they have to, and understanding how to manage your GST Liability obligations can reduce GST liability and help you avoid paying too much GST over the financial year. As the end of the financial...
Is a Bank Statement enough to claim a Deduction? The short answer is no. Although 1 in 6 Australians think a bank statement alone is enough to claim a deduction, the ATO tax deduction requirements state otherwise. A bank or credit card statement on its own is...
Whether you're a sole trader, running a salon or managing a fast growing startup with payroll tax obligations, every business needs a bookkeeper. Although you can learn the basics of bookkeeping, your time as a business owner is better spent growing your business. ...
So here it is the final section of our 3-part series on How to make your Business a Lean Mean Fighting Machine. And we think that it is THE biggest backbone area of any business. Get it right first time and you shouldn’t have any problems going forward. HouseKeeping...
In Part 2 of our series to a Lean Mean Fighting Machine Business we look at ways to Keep the Cash flowing in your Business. Margins You must try to maintain margins as much as possible – not just through more sales but by good cost management. Competitors may falter...
What is Superstream? SuperStream allows you to make a single online payment for superannuation contributions to all employees’ super funds. If you are using an accounting platform for your accounts you can also apply through them to lodge your superannuation either...
Expense blow outs are inevitable in business. Reducing expenditure should be looked at regularly to help strengthen your business. Strengthen your Business Strengthening your business doesn’t just involve financial management, but also includes strategies to retain...
What is TPAR? Total Payment Annual Reporting (TPAR) informs ATO about payments made to contractors for providing services. Contractors can include sub-contractors, consultants and independent contractors. They can be operating as sole traders (individuals), companies,...
It’s easy to become anxious or overwhelmed and start jumping around from one task to another during your day, to get back on top of it. That approach can add a lot of stress, but you can avoid it by outsourcing to professionals. What you’re addressing with this is the...
Small businesses often have a multitude of contributing factors that can affect their bottom line. Rising costs and excess stock contribute drastically with cash flow and over purchasing. In Part 1 of our 3 part series we give a few tips on how to go about turning...