Business
Business insurance tips: align your renewal dates
June 19, 2023 | Business Managing insurance policies can be a complex task for businesses, especially when policies have different renewal dates throughout the year. Generally, when a business first commences operating, it may only apply for a small number of insurance policies. As the business grows and its associated risk grows, businesses tend to…
Streamline Your Employee Spend Management with Weel
June 6, 2023 | Business In a world where cash is becoming a thing of the past, businesses are embracing the advantages of going cashless. This is where Weel can assist. Weel is a platform for managing company spending, complete with virtual corporate cards, and easy integration with XERO. In this article, we will explore…
When is a hobby considered a business?
May 31, 2023 | Business The pursuit of a hobby by an individual may be to supplement wages, create income after having lost a job, or to simply follow a passion. With the growth of entrepreneurship, conducting activities to earn income needs to be understood carefully, so that taxpayers are fully aware of their tax…
Energy efficiency grants for small and medium-sized enterprises round 1
March 7, 2023 | Business The grant opportunity provides small and medium businesses up to $25,000 to replace or upgrade existing equipment to improve energy efficiency and reduce costs. Opening date: 6 March 2023 9:00am AEST Closing date: 19 April 2023 5:00pm AEST Eligible entities Have an ABN Are an entity incorporated in…
5 Reasons why January is the best time to change Accountants
January 16, 2023 | Business A lot of business owners are not happy with their current accountant, however, they don’t make the choice to change. Why? It has been proven that sometimes people prefer to accept poor quality of something they know, as opposed to going out into the realm of the unknown and finding…
Proposed changes to work from home expense claims
The Commission of Taxation has recently released Draft: Practical Compliance Guideline PCG 2022/D4. This guideline defines a new and revised fixed-rate method for taxpayers to claim deductions incurred from working from home. Given the major uptake in work from home arrangements post-COVID, the legislation of these new rules would result in significant changes to the…
Business Basics grants funding returns for round 4
November 15, 2022 | Business The next round of the Queensland small business grants program is set to commence shortly. Like Round 3, this round will focus on supporting businesses to increase core skills and adopt best practices. Broadly, the support will include funded activities in five priority areas: Training and coaching Website build or…
Key Takeaways From the October 2022 Federal Budget
October 31, 2022 | Business The updated federal Budget for 2022-23 has been delivered. In contrast to the former government’s budget in March 2022, there are no targeted tax concessions for small and medium businesses. Instead, this updated budget is aimed at easing the growing pressure on the cost of living. Despite this, some of…
How to massively boost your cashflow with a PAYGW variation
September 7, 2022 | Business What is a PAYG withholding variation and how does it work? Simply put, a PAYG withholding variation is a tool used to free up more cash quickly by predetermining your tax rate based on forecasted taxable deductions and keeping your end of year tax estimate as close to neutral ($0)…
Major changes to QBCC financial reporting requirements
August 25, 2022 | Business Starting from 1 July 2022, QBCC licence holders will be required to include General Purpose Financial Statements (“GPFS”), as part of submitting a Minimum Financial Requirements Report (“MFR report”). Why General Purpose Financial Statements? Due to the comparable simplicity, QBCC licence holders have previously commonly submitted Special Purpose Financial Statements…