1 July 2000 was the day the Goods and Services Tax (GST) was introduced to all Australians. This presented confusion to consumers, business owners and accountants alike with an endless list of GST dos and don’ts. In a nutshell, GST is a tax we pay via the items that we buy. As a simple example, […]
Goods and Services Tax (GST) Explained Read More »
The Fair Work Australia Minimum Wage Review 2021 has revealed a 2.5% increase to the national minimum wage starting 1 July 2021. The decision was based on a foundation that the country’s economic performance has ‘exceeded expectations’ and that recovery was well underway. The minimum wage will increase from $19.84 to $20.33 or $772.60 per week
Fair Work Australia Minimum Wage Review 2021 Read More »
It is probably safe to say that one of the financial matters we all dread is our tax. For those with more complicated tax matters and expensive deductions, the importance of keeping and tracking receipts for tax purposes is crucial. So, how do you stay on top of them? How do you safely store these
The importance of keeping receipts for tax purposes Read More »
There is more to life than spending hours a day generating, sending and following up invoices. There are a couple of simple ways you can make invoicing a fast, efficient, and dare it be said, fun procedure. Here are 6 tips for achieving a more efficient invoicing system that can help to gain time back
Six tips for a more efficient invoicing system Read More »
Whether you are the owner of small business or planning to start one, you’re likely to have some questions or concerns about tax and if your small business needs to lodge a Business Activity Statement (BAS). The BAS is issued monthly or quarterly, so you can report on Goods and Services Tax (GST), Pay As
Small Business and BAS lodgement: what you need to know Read More »
Payroll is a workplace function that usually occurs in the background and simply just “happens.” Any business who adopts these top tips for best practice payroll compliance, should find that payroll is invisible to the rest of the business. It does however remain one of the most preventable areas of risk for many businesses. With
Top tips for best practice payroll compliance Read More »
If you’re a business owner, you need to know your business’ break-even point — the number of units you need to sell (in dollars or units) in order to cover your operating costs. If you reach this point, it means your business is turning a profit and in a more stable operating position. Being aware
What is your business’ break-even point? Read More »
If you run your own small business, you will have come across several different ways to evaluate your profitability. One strategy to increase your business profit margin is to use gross profit and gross profit margin. While they’re not likely to be the only figures you are using to health check your business, they are
8 strategies to increase your business’ profit margin Read More »
Now you have made the important decision to hire a bookkeeper for your business, how do you go about finding the right person for the job and what qualities do you need to look for in a great bookkeeper? We explore the top six skills and abilities you need in a bookkeeper, ensuring you find
Six qualities you need in a great bookkeeper Read More »
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