Accounting
NDIS Real Estate Investment: A Beginner’s Guide
The National Disability Insurance Scheme (NDIS) has opened new opportunities for real estate investors keen on supporting disability housing while tapping into Australia’s burgeoning market. Through its Specialist Disability Accommodation (SDA) scheme, the NDIS offers funding, sparking a surge in demand for accessible purpose-built dwellings that meet the needs of Australians with disabilities. However, the…
How To Increase Prices In Your Business
One of the most delicate decisions a business must navigate is increasing its pricing it charges customers and clients. Pricing directly impacts revenue, profit margins, customer perception, and market competitiveness. In this article, we delve into the main areas to consider when deciding when and how to go about increasing your business goods and services…
How to finalise Single Touch Payroll in XERO for the financial year
Another financial year down and now it’s time to finalise your Single Touch Payroll (STP) so your employees can complete their tax returns. Payment summaries or group certificates are a thing of the past, replaced by STP a few years ago. If you’ve opted into Single Touch Payroll, there’s no need to send employees any…
The Purpose Behind Tax Optimisation
Tax optimisation is a strategic approach aimed at legally minimising your tax payable each year. It involves an assessment of your business and is in place to take advantage of tax deductions, credits, and incentives available. This practice ensures that you’re being tax effective and allows you to significantly boost your cash flow & viability…
The Pitfalls of Borrowing From Your Business
Division 7A is a rule that comes into play when owners of private companies take money out of their businesses in ways that aren’t straightforward salary or dividends. A common scenario that triggers Division 7A is when a business owner takes out a loan from their company and doesn’t pay it back under the terms…
Changes to Stage 3 Tax Cuts
The Federal Government has unveiled a proposal to reshape the scheduled Stage 3 personal income tax cuts, set to commence on 1 July 2024. This decision comes after extensive speculation, with the government aiming to reallocate and extend the benefits of these tax cuts to a larger segment of the Australian population. What are the…
Everything to Know About the Small Business Export Loan
This program aims to provide businesses with the necessary funds to satisfy their cashflow needs and support their export transactions when their bank is unable to help. It is an unsecured, government-backed loan solution with an easy online application and expedited approvals, targeting businesses with an annual turnover exceeding $250,000. Program Features Loans ranging…
A Comprehensive Guide to Staff Parties and Gift Giving
The festive season is upon us, and as businesses prepare to celebrate with staff parties and express gratitude through gift-giving, it’s essential to navigate the intricate landscape of tax implications. In this guide, we’ll focus on the deductibility and Fringe Benefits Tax (FBT) aspects, ensuring your celebrations are not only joyful but also tax efficient.…
Xero vs QuickBooks: Who is The Clear Winner?
In the realm of accounting software, QuickBooks and XERO stand out as two of the most popular choices for businesses of all sizes. Both platforms offer a wide array of features designed to simplify financial management. However, when it comes to choosing the right solution, it’s essential to consider various factors. In this comparison, we…
4 Essential Tips to Ensure your NDIS Business Succeeds
Launching and managing a National Disability Insurance Scheme (NDIS) business can be a rewarding venture, but it comes with its unique challenges. To thrive in this specialised field, it’s essential to prioritise certain key elements that can make or break your business’s success. In this article, we’ll explore four critical factors to consider for ensuring…