Prepare for Payday Super: Key Readiness Steps for Employers
From 1 July 2026 Payday Super will be mandatory. Instead of quarterly super payments to employees’ funds, contributions will need to be paid
at almost the same time as salary and wages. Read on for full details on what's required and what is changing.
Setting goals for you and your business for the new financial year
If you are reflecting on where you are at and thinking about your business goals for the financial year ahead, we can help you establish measurable goals for your business.
The SDA is pushing for the abolition of junior rates for younger workers. We’ve outlined the details of the campaign and the potential impact on your wage costs.
Planning for all eventualities: the benefits of scenario planning
As the owner of a fast-moving business, would a crystal ball be helpful? Scenario planning is a key way to understand the future of your business. We outline the major benefits.
Payday super: what could it mean for your small business?
Payday super is due to begin in July 2026. Is your payroll process ready? We’ve outlined the key requirements and how payday super could impact your small business.
Government grants and incentives are a great way to boost your capital. We’ve highlighted four areas of financial support that your business may be eligible to claim.
Reducing the uncertainty: how to diversify your business
Looking to shake up your current business strategy? We share five ideas for diversifying your business strategy and improving the stability and profitability of your business this year.
54% of employees prefer a combination of in-office and remote work. So, are you making moves to switch to flexible working? We explain why
hybrid working is the way forward.
Training vs Trial & Error: Why Teaching Staff to Use Software Properly Pays Off
Trial and error might feel easier, but proper training gives you clean data, confident staff, and the ability to actually use your
software to grow your business. What you can measure, you can control - and what you control, you can change.
Would your business fall apart without you? What’s your Plan B in case of accident, illness, or just so you can take an occasional holiday?
If you were thinking of selling it, what’s your exit strategy?
The value of cashflow forecasting for your business
A business cash flow forecast will give you vital business intelligence to help you scenario-plan, search for cost-savings and look for
strategies that will preserve your cashflow position. Find out how it can help your business.
Does your Aussie small business have a succession plan?
Research from MYOB shows nearly half of Baby Boomer business owners are planning to exit in the next 1 to 5 years. But do you have a
succession plan in place to guide this exit?
Keeping your tax and expenses in check when you are self-employed
Working for yourself or running your own business? Setup robust systems for expenses & tax requirements so you can focus on your important tasks. We can help take the headaches out of your business accounting.
The right to work from home: the potential impact for your employees and business
Proposed legislation from the Victorian Labor Government could offer your employees the right to work from home 2 days per week. We’ve outlined how to make the most of WFH.
7 in 10 managers liken supervising Gen Z to babysitting or parenting. But is your people management style what’s at fault? We explain how to get the best from your Gen Z employees.
Effective delegation frees up time and boosts productivity by allowing others to take on tasks. Assessing the right person, providing clear
instructions and setting timeframes results in enhanced team skills, better outcomes and higher productivity.
Your Cost of Sales (CoS) is a vital financial metric to understand. We’ve highlighted 5 important ways that CoS impacts on your operational efficiency and your financial health.
Honesty is not a core value: Why you must dare to stand out
Core values define your business's identity and uniqueness. Focusing on distinct values that reflect your purpose and sharing and
embodying these values fosters a stronger workplace culture and enhances relationships and results.
The value of old-fashioned customer service: getting customer feedback
Your customers are one of your most valuable assets. But how often are you talking to customers and asking for their feedback? Here are 5 ways to improve your customer service.
If I’m working ON my business what should I be doing?
I’m sure you’ve heard about the need to work ‘on’ your business as well as working ‘in’ your business. But have you ever stopped to think
what exactly you should be doing?
Do you need to improve the cash flow position for your business?
Turning a profit is at the heart of running any successful company - But without cash flow, you can't run your day-to-day operations or grow the business.
Making your business work for you: passing the business to the next generation
How do you get your business ready to hand on to the next generation? We’ve outlined five key steps for adding value to the business and getting a clear exit strategy in place.
Bringing your cashflow processes into the digital age
When economic times are tough, it helps to be in control of your cashflow. We explain how to improve your cashflow – and how this helps you run your business through tough times.
Do you know the best way to manage a project budget? We’ll help you build solid, workable budgets that can be easily tracked through your accounting system.
Australian Labor party (ALP) will form the government for a second consecutive term after winning the Federal election with majority seats.
We have summarised for you, all tax measures proposed by the ALP throughout their federal election campaign.
Household living costs have skyrocketed and seem set to keep rising this year. Here are our 12 top tips for coping with the rapidly increasing cost of living – ways to earn more, spend less, and invest in your future.
Underpaying your staff is now a criminal offence: what this means for your business
It’s now a criminal offence to intentionally underpay your employees. Here’s the lowdown on the new Voluntary Small Business Wage Compliance Code and what it means for your business.
Making your business work for you: making enough to retire
Are you thinking of retiring in the near future? Now’s the time to start planning your exit strategy, so you have a business that delivers the ROI and capital you need to fund your retirement.
Tropical Cyclone Arthur: disaster recovery grants now available
If your Queensland small business was affected by Tropical Storm Arthur, you may be eligible for the new Exceptional Disaster Assistance
Recovery Grant.
Making your business work for you: securing your lifestyle
Is your business providing the income you need to secure your desired lifestyle? We’ve got some hot tips for boosting revenue, profits and
your ability to draw down income.
Are you confident in understanding the financial snapshot of your balance sheet? Book a session now to analyse your reports with an
experienced business advisor.
The Project Management Triangle: Quickly, Cheaply, or Done Well - Pick Two!
The Project Management Triangle shows you can't have it all - fast, cheap, and perfect. Prioritise two: speed, cost, or quality. Learn how
this timeless concept helps set realistic expectations and deliver successful projects every time.
Are you feeling burned out from your business? There are some simple strategies to regain enthusiasm. Relieve the stress by managing systems, tech, payroll or other financial administration.
How to optimise your business: build on those customer relationships
Building better relationships with your customers is a key way to optimise your business for the future. We’ve got four tips for nurturing
those customer relationships.
How to optimise your business: get proactive with your finances
Looking to get in control of your finances in 2025? Embracing the latest financial tech is a great way to put yourself in the driving seat.
We’ve got five ways to boost your finances.
70% of change projects within a business fail. The biggest factor for success is employee engagement, here are 8 ways to engage your team and get them onboard with changes.
Your successful business can quickly start to lose value if you don’t keep pace with a changing market. Check out these five threats that could be undermining the value of your business.
Struggling with seasonal dips and poor cashflow? We’ll help you identify the timing of your seasonal downtime, and create a strategy for stabilising your income across the year.
The end of year is fast approaching, meaning gifts and parties become part of your business. We’re here, as always, to remind you of your
tax obligations and to assist in your decision making.
Why is good bookkeeping so vital for your financial management? We’ve got some top hacks for maximising your bookkeeping, and the options for outsourcing this job to the professionals.
Most of us aim for work-life balance, but it can be a tricky thing to do when everything gets busy. Here are a few tips that can assist at
any time of year:
Three questions for business success. Part 3 Pricing
Since businesses have existed, these questions have perplexed their owners. Before AI, the internet and even electricity. Who's my
ideal customer? What makes my product or service attractive? How should I be pricing my product or service? Read on!
It can be challenging following up on payment of invoices when the economy has been down, but it is important to keep cash flowing into your
business. As with all business dealings right now, there are tactics you can use to help.
Three questions for business success. Part 2 Value Proposition.
Since businesses have existed, these questions have perplexed their owners. Before AI, the internet and even electricity. Who's my
ideal customer? What makes my product or service attractive? How should I be pricing my product or service? Read on!
Using testimonials and case studies to transform your business
Good reviews are sales gold! Ask your most loyal customers why they chose you, or what they like about your product or service. Use these
testimonials to do all the talking in your marketing! Here's how.
Why productivity matters and what you can do about it.
Productivity is a term associated with strong economies, robust businesses and efficiency gains of clever staff. If businesses were
efficient then fewer would fail, generate more employment and better incomes for owners and workers alike.
6 Powerful Reasons To Watch Your Financial Reports
Making time to look over your financial reports each month is an important task for any business owner. We can give you an overview of what
reports you'll need to help you build a thriving business.
Three questions for business success. Part 1 Ideal Customer
Since businesses have existed, these questions have perplexed their owners. Before AI, the internet and even electricity. Who's my
ideal customer? What makes my product or service attractive? How should I be pricing my product or service? Read on!
Performance reviews are a valuable tool for tracking people's progress, providing feedback, and aligning individual achievement with company
goals. But they have to be done well. Here are some top tips for getting the most of your performance reviews.
The ATO have released updated guidelines regarding valuing assets in your SMSF. Of particular interest is the removal of the widely accepted
“3-year” valuation rule,
Diverse business teams deliver 60% better results. And, this applies to neurodiversity too. When you embrace the diversity of your team, you
create a more innovative and creative workplace.
As Jim Chalmers handed down his third budget last night, all eyes were on what relief would be given to households. With news that inflation
is settling, and employment is high, the focus was on energy bill relief for homes and tax cuts across the board from 1 July.
Key measures include:
Energy bill relief by way of an energy rebate for households and small businesses
Personal tax cuts across the board
Increases to Commonwealth rent assistance
Extension of the $20k instant asset write off
Super to be paid on Government funded parental leave
For a more thorough overview, please read our 2024-2025 Budget Summary
Embracing humour in your marketing and brand identity
Customers like it when brands are funny. But are you doing enough to use humour in your company’s marketing? Here are some top hacks for
being funny as a marketer.
How To Keep Your Trade Business Running When You’re on Holiday
Running a trade business and thinking of taking a holiday? It's not only possible; it's essential for your well-being and business growth!
Learn to prepare your team and enjoy your break stress-free.
Tips for dealing with economic uncertainty in your business
You can’t avoid economic uncertainty but you can change the way you deal with it. Strong communication with your team will help your
business get through.
How to move your online business to a bricks and mortar retail space
Are you thinking about making the switch from online to a bricks-and-mortar store? We can help with some of the big questions to ask
yourself before you open your retail space.
Putting important company policies in place makes key rules and guidelines official, keeping your workplace productive and safe and
giving employees and customers confidence.
FoMO or JoMO? Give your business decisions (and yourself) a chance to breathe
How people feel often drives their decisions. In your marketing, it can be simple but powerful. For yourself, you might want to take a
breath and reset.
How to ride the wave of technological advancements
Technology is changing how we do business. But how do you start this digital transformation? We’ve highlighted five of the big challenges to
plan for and overcome.
Overcoming Imposter Syndrome: A Business Owner's Guide
Imposter syndrome is a common challenge faced by many business owners. It can hinder personal growth, decision-making, and overall
well-being. It impacts 70% of business owners at some point. We look at steps you can take to overcome and move forward.
The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what
you’d like to change and new things you’d like to implement.
When you’re in control of your profit and loss (P&L), you have a tighter hold on the reins of your profitability. Read our Plain English guide to P&L and learn how to boost your profits.
Finding and retaining the key talent for your business
4 in 5 employers, globally, report difficulty finding the skilled talent they require. So, how do you find the people your business needs? Here are five ways to beat the global talent shortage.
The company Christmas party doesn’t have to be a massive bash or a boring, box-ticking exercise. This article has lots of tips to ensure the
Xmas is fun as well as being healthy and respectful.
How can small businesses compete with the big chains?
How can your small business compete with the big multinationals? Here’s how to maximise your boutique appeal to retain existing customers
and draw in new ones.
Do you check your supplier ABNs? Correct tax codes are essential for getting GST on the BAS right. Now is a good time to review supplier
ABNs and GST status. Get in contact, and we’ll make sure you’re not paying more GST than you need to.
Outstanding tax debts? ATO warns about disclosure to CRAs
The ATO is warning businesses to engage with their tax and super obligations to avoid having their debts disclosed to credit reporting
agencies (CRAs).
10 hot questions to ask yourself as a business owner
Want to push your business to the next level? We’ve shared 10 hot questions to ask yourself as a business owner, with advice on how they
will drive your growth and success.
As a business owner, how much should you pay yourself? It depends on how much your business can afford, market pay rates, and whether
reinvestment could pay dividends.
Small Business Instant Asset Write-Off This Financial Year
Are you looking to purchase assets for your business? Eligible businesses can spend up to $20k per asset and immediately claim the tax
deduction and GST. Talk to us about the best strategy for purchasing business assets.
We live in uncertain financial times, where running a successful business can be a challenge. We’ve highlighted five strategies for
navigating economic uncertainty.
Is your business content full of cliches, jargon and overly wordy messaging? Keeping your writing simple is the easiest way to get the very best from your marketing content.
Positive cashflow is the beating heart of your business. Dive into our Plain English guide to cashflow and find out how to get in complete
control of your cash position.
Avoid ATO’S increased tax penalties – reminders and updates
With the ATO shifting its focus on taxpayers with outstanding tax lodgments and debts, find out how to avoid being penalised at the
increased penalty rates in 2023–24
Can ChatGPT replace your marketing team? The short answer is no, but AI content writing can be a great productivity tool for any small
business. We’ve got some tips.
The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to
take maximise your deductions.
The digital games and interactive entertainment sector is the largest creative sector in the world and one of the fastest growing industries
worldwide. The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021 generating $226.5
million in income and employing over 1,300 fulltime workers. And, it’s an industry the Government wants to support with a new tax offset.
For employers, incorrectly calculating wages is not portrayed as a mistake, it’s “wage theft.” Beyond the reputational issues of getting it
wrong, the Fair Work Commission backs it up with fines of $9,390 per breach for a corporation.
The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they
generate. But now the Tax Office has given notice to the booming industry.
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of
up to $20,000.
Access to home guarantee scheme expanded to friends and siblings
From 1 July 2023, access to the Government’s Home Guarantee Scheme will be expanded
to joint applications from “friends, siblings, and other family members”
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details
on electric vehicles.
The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update the next day on the important issues to you,
your superannuation and your business.
From 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term
accommodation to report their transactions to the ATO each year.
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already
paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right?
Single Touch Payroll (STP) Phase 2 deadline fast approaching
STP is the way you report your employees' tax and super information to the ATO and Phase 2 provides additional information that will be used by the ATO.
A consultation paper released by Treasury has sparked a national debate about the role, purpose and access to superannuation ahead of the
2023-24 Federal Budget.
1 July 2023 Super Balance Increase but no Change for Contributions
The general transfer balance cap (TBC) – the amount of money you can potentially hold in a tax-free retirement account, will increase by
$200,000 on 1 July 2023 to $1.9 million.
It’s that time of year again - what to do for the Christmas party for the team, customers, gifts of appreciation for your favourite
accountant (just kidding), etc. Here are our top tips for a generous and tax effective Christmas season.
In the wake of the Optus data leak, legislation before Parliament will lift the maximum fine for serious or repeated breaches of the Privacy
Act from $2.2m to up to $50m.
I got a text the other day “Hi Mum, I have broken my phone and I am using this number.” The “Hi Mum” scam has exploded with more than 1,150 Australians falling victim to the ploy in the first seven months of 2022.
Low interest rates have been a mainstay since the global financial crisis of 2008. Coming out of COVID, supply could not keep up with demand
to support the recovery, pushing inflation higher and broader than expected for a longer period of time.
To cut or not to cut? Stage three personal tax cuts
Heading into the 2022-23 Federal Budget on 25 October, the question for the Australian Government is not whether to introduce personal
income tax cuts but whether to keep, amend or repeal the cuts legislated to commence on 1 July 2024
Everyone knows you don't pay tax on your family home when you sell it... right? We take a closer look at the main residence exemption that
excludes your home from capital gains tax.
One of the biggest complaints from salespeople in a tight economy is the time it takes to achieve a sale. So, what can you do to speed
up the sales process?
Clients with self managed superannuation funds (SMSF) often ask what assets the SMSF can acquire. The golden rule for acquiring assets
inside your SMSF is why?
The RBA lifted the cash rate to 1.85% in early August 2022. we should expect interest rates of 2.5% - how quickly we get there really
depends on inflation.
Over the past few months there has been an increase in audit/review activity initiated by the ATO, State Revenue Office & WorkCover, as
both State and Federal Governments attempt to tighten up budget deficits.
Anthony Albanese has been sworn in as Australia’s 31st Prime Minister and a Government formed. We look at what we know so far
about the policies of the new Government in an environment with plenty of problems and no easy fixes.
End Of Financial Year is upon us once again! This means that once you have run your last pay run for the financial year, it is time to
finalise payroll.
The ATO has not pursued many business tax debts during the pandemic and allowed tax refunds to flow through even if the business had a tax debt. That position has now changed.
The 120% deduction for skills training and technology costs
Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology
costs, we started receiving marketing emails encouraging us to spend now to access the deduction.
The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based
products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022. This has caused a reduction in fuel tax credit
rates.
Can I claim a tax deduction for my gym membership?
There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym
membership isn’t available to most people.
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they
represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.
The Federal Budget has been brought forward to 29 March 2022. With the pandemic and the war in Ukraine we have seen a lot less commentary
this year about what to expect in the Budget.
Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for
tax and superannuation purposes.
The 2022 Luna New Year, Year of the Tiger, is courage and bravery. It is a year to drive out evil and one of momentum and change. The
message; walk boldly with courage. And it seems the Reserve Bank Governor is aligned with this sentiment.
The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from fringe benefits
tax (FBT) for employers if purchased for work purposes.
The rules for the Pandemic Leave Disaster Payment, the payment accessible to those who have lost work because they have had to self-isolate
with COVID-19, or are caring for someone who contracted it, changed on 18 January 2022.
2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our
personal and work lives. Here is some of what we can expect in 2022:
The ATO has extended COVID-19 relief for SMSF trustees. The relief measures, which protect trustees from COVID-19 related contraventions of
the super laws, now extend from the 2019-20, 2020-21 and 2021-22 financial years.
The ATO has recently issued an alert on gifts or loans from overseas. The ATO is particularly concerned about schemes and arrangements
designed specifically to circumvent Australian tax laws.
Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not
automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the rules of
fund, superannuation law, and the death nomination you made.
Recruiting new employees? The 1 November superannuation rule changes
Super choice rules are changing. You'll have an extra step to take if you have new employees who start from 1 November 2021 and they don't
choose a super fund.
Australia’s two largest states and the ACT are in lockdown as the Delta strain of COVID-19 takes its toll while others are standing firm on a
policy of eradication. The result is a country at a policy impasse and divided by border restrictions.
Most people would think that money provided by the Government to support people and business during a crisis would be tax free? Otherwise,
it’s like giving money with one hand and then taking it away with the other, isn’t it?
The support available to individuals and business has been constantly evolving and changing. Here’s a summary of where support stands around
the country.
Work from home expenses under scrutiny & the perils of browsing Facebook
If you worked from home during lockdown and spent money on work related items that were not reimbursed by your business, you might be able
to claim some of these expenses as a deduction – but not everything you purchase can be claimed.
Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of
insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage
and is not income assessed for tax purposes - but this is not always the case.
Your SMSF: when expenses and investments are not at arm’s-length
We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party
transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members). We’ve set out some of the
common questions and answers.
Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a
rewrite of Australia’s business registers.
To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all
parties in the arrangement.
Pension minimum relief extended to financial year 2021/22
On Saturday 29 May 2021, the Government unexpectedly announced an extension of the temporary reduction in superannuation minimum drawdown
rates through to financial year 2021/22.
The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to
invest in the long term.
Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your
retirement phase superannuation account.
The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured –
specifically, professional practices such as lawyers, architects, medical practices, engineers, architects etc., operating through trusts,
companies and partnerships of discretionary trusts and how the profits from these practices are being taxed.
The Government’s JobMaker scheme has created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses
registering their interest in the scheme.
Builders, electricians, plumbers, architects, real estate agents, security guards and other workers who hold an occupational licence in
their home state or territory and who want to do the same work in another state or territory will soon be automatically deemed to have the
necessary licence.
Why are some businesses returning JobKeeper to the ATO?
Super Retail Group - owner of the Supercheap Auto, Rebel, BCF and Macpac brands - handed back $1.7 million in JobKeeper payments in January
after releasing a trading update showing sales growth of 23% to December 2020.
The first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny
question for employers about individual rights, workplace health and safety, and vaccination enforcement.
Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19
lockdowns have added another layer of complexity as many work patterns and behaviours changed.
With the borders between the State and Territories all but open and 2021 well underway, there is a hunger for a return to ‘normal’. The
recent Westpac-Melbourne Institute Index of Consumer Sentiment articulates this desire to ‘get on with things’; sentiment reached its
highest level since November 2013.
However, the Reserve Bank of Australia cautions that the recovery will be uneven and drawn out and GDP is not expected to return to
pre-pandemic levels until the end of 2021. The risks are not limited to the pandemic but Australia’s geopolitical relationships, notably
with our largest trading partner, China.
The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to
ongoing lockdowns and trading impediments to those benefiting from the “new normal”.