The Annual Wage Review – What you need to do and when June 18, 2021 | Business The Fair Work Commission wage panel has announced a 2.5% increase to the national minimum wage starting 1 July 2021. The decision was based on a premise that the economy has ‘exceeded expectations’ and that a recovery was…

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4 critical mistakes people make with their bookkeeping June 11, 2021 | Business Having a strong finance function is an imperative part of your business. With this, you must ensure that your bookkeeping is done correctly so that your figures are accurate so that you can assess your business position. When your numbers are right,…

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Why you need meaningful Cashflow and Budget reports June 10, 2021 | Business Is the first thing that comes to mind, when you hear Cashflow and Budgets, an endless spreadsheet that is hard to read and it needs endless updates? Well, that is one way to do it but there are other ways that are…

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6 common expenses people didn’t know were tax deductible June 9, 2021 | Tax The end of financial year (EOFY) means more than plenty of sales from local car yards and at shopping centres. It is the last chance for Australians to make any decisions regarding changes to their finances that could affect their next…

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6 things to do before renting out your home June 8, 2021 | Property Are you thinking about moving to a new house but want to hold onto your current property? Turning it into an investment for the short or long-term can be a good option while increasing your cash flow. But before you do,…

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Deductions on the ATO watchlist and what you need to know June 4, 2021 | Tax If you have been working from home and are planning to claim all those new expenses that you normally would not claim when you were in the office? Continue reading as the ATO will be focusing on four types…

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How to substantially reduce your tax with commercial property May 27, 2021 | Property What is a commercial property? A commercial investment property is a property that people run a business from. It is income generating for the owner, by the way of rents from commercial tenants.  A few examples of commercial properties are shop-fronts,…

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A summary on the temporary loss carry-back rules May 26, 2021 | Accounting Designed to provide temporary cashflow support to companies that were in a tax paying position but now have a tax loss due to COVID-19 or faster deductions under the new instant asset write-off and full expensing measures. Corporate tax entities with ‘aggregated…

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Cash in hand payments on the ATO watchlist May 25, 2021 | Tax The ATO has reminded employers that any ‘cash in hand’ payments made to workers will not be tax deductible. ‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go (‘PAYG’) withholding obligations. For example:…

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Bunnings Power Pass: The often overlooked Bunnings hack for small businesses May 25, 2021 | Tips and Tricks Bunnings have a customer program called PowerPass which allows eligible customers to access discounts on certain products, track their purchases and simplify the returns/warranty process. It’s also possible to apply for a credit limit and book purchases…

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