Business
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…
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…
Payday Super: What Employers Need to Know
In the latest Federal Budget delivered in May 2023, the government announced the introduction of ‘payday super’, which is proposed to come into effect on 1 July 2026. In this article, we will break down the basics of what payday super is, the impact on employers, and why the government has decided to look at…
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…
10 Principals to Systemise your Business
You’re pouring in the hours, burning the midnight oil, and yet, there’s a missing piece. Everyone whispers the word “systems” in your ear. The question is, what are they and why are they so integral to your business? This article dives deep into the concept of business systems, guiding you through 10 crucial points that…
Unlock Energy Savings for Your Business: A Guide to the QBEST Rebates Program
As a small business owner in Queensland, you’re constantly seeking avenues to operate more efficiently. Upgrading to energy-efficient devices is a prime method to considerably lower your power bills. The Queensland Government recognises this, and with the introduction of the Queensland Business Energy Savings Transformation (QBEST) Program, they aim to incentivise businesses like yours to…
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…
Xero Beautiful Business Fund
Xero recently announced the launch of the Xero Beautiful Business Fund, a new initiative, backing small businesses for the future. What does this mean? Xero is offering more than NZ$750,000 in funding to Xero small business customers across Australia, Canada, New Zealand, Singapore, South Africa, the UK and the US and will recognise companies who…