Business
First online marketplace for Australian-made goods launched
July 20, 2020 | Business It was an initiative that began as an Instagram page in mid-March, when the COVID-19 hit our economy, has now launched the first online marketplace for Australian-made products. Buy Aussie Now marketplace is a website that will feature over 2000 small businesses across various industries, using this as a platform…
Energy efficiency grants for small businesses
July 14, 2020 | Business Make your business more energy efficient and reduce your power bills with the small business energy efficiency grants. These grants are available to small businesses with a turnover under $10 million a year. These grants will enable support equipment upgrades designed to reduce energy consumption, monitoring systems to better manage…
Managing debtors and cashflow for small business owners
July 9, 2020 | Accounting, Business, Tips and Tricks Managing debtors (otherwise known as accounts receivable) is a requirement of doing business for most businesses, small and large. A key aspect of well managed cashflow is keeping the gap between receiving money from customers and paying money to suppliers as narrow as possible. A wide…
A 1.75% increase to the minimum wage has been announced.
June 25, 2020 | Business, Tips and Tricks A 1.75% increase to the minimum wage is on its way from 1 July 2020. This increase will apply to all awards, but the starting point for specific increases will be rolled out over three stages depending on the award applicable to your business. As most employees…
Step by step procedure to grant applications
June 19, 2020 | Business Given recent circumstances, grants are being utilised more and more due to the unchartered waters we all are navigating. Grants can be a complex and daunting process for anyone going through it for the first time. These grants are effective for cashflow issues, strategic project implementation and internal approvals for…
New $10k grant from the Queensland government open 1 July.
June 17, 2020 | Business Great news! A second round of the $10k Queensland Government COVID-19 Adaptation grant has been announced. This grant is designed to assist business owners in their recovery from the pandemic. When are applications opening? The government will be accepting applications for the $10k grant on 1 July 2020.…
2020 end of financial year checklist.
June 16, 2020 | Business, Tax, Tips and Tricks We are now into June, which means another financial year is fast approaching. 2020 has certainly been a hectic time for all businesses with bushfires, floods, and COVID-19. Fortunately, the government stimulus measures have proven very effective but are wildly time-consuming in ensuring all the applications…
What are capital works deductions?
June 12, 2020 | Business Understanding tax depreciation lingo can sometimes be confusing but, as an investor, it’s important to have a good understanding of the depreciation deductions you can claim to ensure you’re always getting the most out of your investment property. As outlined by the Australian Taxation Office there are two categories that…
Extension to the $150k Instant Asset Writeoff
June 10, 2020 | Accounting, Business, Tax A few months ago, the Government announced that to assist with the recovery from the economic impact of Coronavirus, they have increased the instant asset write-off threshold from $30k to $150k for businesses making up to $500 million per year. This was originally limited to assets purchased or…
2020 Business Tax Planning Strategies
June 9, 2020 | Accounting, Business, Tax With the impact of COVID-19 on your business, whether directly or indirectly, tax planning for 2020 is essential. It is critical that you take every opportunity to optimise your tax and financial position before the 30 June 2020 deadline, even if your business turnover has decreased. With the government’s response to…