The perfect time for planning?

Being in lockdown is frustrating. There’s so much you can’t do. But is it the perfect time to do some business planning? Business planning constantly gets bumped to the bottom of the to-do list. It never feels urgent, especially when sales are strong and you’re dealing with challenges like finding new staff, or product shortages. However, a business plan can really pay dividends in the long run. It can not…  Read more

Business Update – 9 September 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. COVID-19 Government Support By State and Industry Small businesses that are currently…  Read more

Business Update – 1 September 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Melbourne and Canberra’s lockdowns extended The lockdown in Melbourne was due to…  Read more

How to Write Winning Business Proposals

A written proposal should be provided to a customer following a discussion where you gained conceptual agreement for the business deal and its general terms. “A proposal should be a SUMMATION, not an EXPLORATION.” – Alan Weiss Providing a proposal allows the customer to reaffirm what you have already discussed, get clearer on the options that can meet their objectives and the fees associated with these. Most importantly, a proposal allows…  Read more

Business Update – 25 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Australia Closes One-Way Travel Bubble from NZ Australia has paused “green zone”…  Read more

Double-Entry Accounting for Modern-Day Businesses: What to Expect

When your company gets to a certain point in size where it becomes more viable for incorporation, several changes will have to be made in its operations. To accommodate the ever-growing list of responsibilities and adjustments that businesses face, certain structure tweaks and accounting strategies must be carried out.  Among the different parts of your business that are expected to change as it grows, thrives, and takes on a new…  Read more

Business Update – 18 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Tougher COVID-19 Restrictions in Melbourne New stricter COVID-19 restrictions came into effect…  Read more

NSW Government Support Packages – Small to Medium Businesses

There are 3 different types of support for Small to Medium Business. The type of support available will depend on: business income is above or below $75,000 Whether you are sole trader or non employing business who is already receiving support in the form of the COVID-19 disaster payment.   Covid 19 Business Grant Key features A one-off grant for business that have been impacted by Covid 19. This grant…  Read more

Business Update – 11 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. NSW Expands COVID-19 Lockdown New South Wales has expanded the COVID-19 lockdown…  Read more

COVID-19 Business Support Grants – FAQs

As more of NSW goes into lockdown, many of our clients are reaching out in regards to accessing Covid-19 support grants. The NSW Government has provided some FAQs for tax agents and accountants to share to help you determine your eligibility & assist you with access the relevant support. The Business Support Grants are available to affected business who are affected in ways relating to: Aggregated annual turnover Decline in…  Read more

Mortgage Repayments – Our Top Five Tips to Get Ahead

Taking out a mortgage is one of the most significant financial decisions that you’ll ever make. However, things don’t end there as there’s still the matter of paying your mortgage (as much as we would like to avoid this part of buying a home!).  While it can feel intimidating to have a huge mortgage, paying off your home loan ahead of schedule isn’t as difficult as you may think. Granted,…  Read more

Business Update – 4 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia’s Path to Reopening International Borders Prime Minister Scott Morrison announced a four-stage plan which will determine when COVID-19 restrictions can be eased. In a nutshell, 80% of Australian adults will have to be vaccinated before international borders can open. So far, about 15.7% of adults have been fully…  Read more

5 Financial Tips for Your 30s

Your 30s are an exciting time. You’re typically making more money than you were in your 20s and you’re looking to the future to determine the type of life you want to live. Your 30s are also a great time to take control of your finances, so you have more security and flexibility in the coming years. Here are 5 financial tips to follow in your 30s, to help you…  Read more

Business Update – 28 July 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Greater Sydney Lockdown to Extended by 4 Weeks What began as a two-week lockdown on June 26 for the more than 5 million people living in Greater Sydney will now stretch until at least August 28, as COVID-19 daily case numbers continue to grow. Existing rules including the five…  Read more

Tax Implications of Cryptocurrency (AU)

With cryptocurrencies gaining notoriety, many people are unclear on how or when they can be taxed. Despite widespread belief to the contrary, you can be taxed on gains made as a result of obtaining or using cryptocurrency. If you’ve made a profit from trading cryptocurrency, for example, you need to declare it at tax time. Here is some important information on cryptocurrencies and their implications for your taxes. How cryptocurrency…  Read more

The NSW COVID Small Business Grants

The NSW Government has recently announced grants available for small businesses who have been impacted by the NSW Government Lockdowns. This is available to all businesses that can show a downturn of at least 30% for a 2 week period between 26 June 2021 and 26 July 2021 compared to the same period in 2019. Businesses that are not within the “Lockdown Zones,” will have additional requirements to meet before…  Read more

When is a car not a car?

Car-related expenses are among the most commonly claimed tax return deductions in Australia, accounting for approximately 40 per cent of all work-related deductions.   However, I still find many clients are confused about what they can and can’t claim when it comes to their vehicles. Most people understand that the car in question must be used for work purposes and that driving to and from work is generally not considered…  Read more

Business Update – 21 July 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. South Australia Announces Shutdown, Victoria Extends Lockdown South Australia moved to a full lockdown yesterday after the number of local COVID-19 cases grew to five. The lockdown will last for at least a week to contain the spread of the Delta variant. This article outlines the COVID-19 rules on…  Read more

NSW and Federal Government Combined COVID-19 Support Package

This week the NSW state and Australian Federal Governments announced a combined support package to help households and businesses during the ongoing COVID-19 lockdown. The COVID-19 Disaster Payment will be expanded and increased under this agreement. The payment will increase to $600 if a person has lost 20 or more hours of work a week or $375 if a person has lost between 8 and less than 20 hours of…  Read more

Business Update – 14 July 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NSW Lockdown Extended for 2 Weeks Lockdown measures in Greater Sydney have been extended by at least another two weeks from Monday. At this stage it will last until 11:59pm on Friday July 30. We’re thinking of everyone affected and encourage you to get in touch with us if…  Read more

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