Finding Your Best Fit CRM

Is your Customer Relationship Management (CRM) system working for you? There are many applications available for different businesses. Whether you are looking to set up a new CRM for your business or improve on your current system, there are factors to consider that are unique to you. A great CRM can make or break your business by helping you close deals and maximise your profit from existing customers. Considering your…  Read more

What is Succession Planning?

Succession is what happens to your business when you ultimately decide you want out. Planning your succession allows you to transition your business to new ownership in a managed and systematic way, helping you to reduce stress and achieve a greater outcome at a potentially tricky time. Succession Planning is about clarifying what you want for the future and defining the steps required to turn that vision into a reality,…  Read more

Eight C’s to help your business during Covid-19

The information overload is real. The ramifications of Covid-19 on businesses are being felt and speculated upon every minute of each day – probably leaving you feeling like a rabbit caught in the headlights. Here’s eight simple words also beginning with C to help clarify your vision. 1. Cash. It’s the oxygen for your business, do what you can now to preserve cash for the unknown future state. 2. Credit.…  Read more

Getting ready to exit your business?

When you sell up, you want your business to have as much inherent value as possible – so you get a good price, a great return on your investment and the best possible payout. So, how do you take yourself ‘out of the business’ as the founder, add the best value and set up an effective and financially beneficial exit strategy? Adding value to the company Whether the goal of…  Read more

Concerned about servicing your loans?

If you are concerned about servicing your loan, we have experienced mortgage brokers who can help. As Australians everywhere take a close look at their financial circumstances, mortgage brokers stand ready to lend a helping hand. Whether experiencing financial hardship through job loss, a reduction in work hours, or business disruption, an increasing number of Australians may be struggling to balance their books as a result of the Coronavirus, and…  Read more

What is Business Growth Advisory?

Here at 123 Financial Group, we have set exciting goals to start the new decade off fresh. We don’t want to be known as your typical accounting firm. We want to be a firm that puts your needs ahead of our own, we want to provide you with the answers to the questions you hadn’t thought to ask. That’s why we are providing our clients with the opportunity to access…  Read more

Invoicing Tips

Invoicing is a critical part of running a business. Big or small, it is essential for many reasons. Although invoicing may often be a demanding and time-consuming process, many don’t realise the implications of poor invoicing. If you’re invoicing isn’t up to scratch, not only will your cashflow be dramatically impacted but there may be taxation audit issues if there are no proper record of sales. Record keeping An invoice…  Read more

What Being Registered for GST Means for You

If your business, company, trust, partnership or self-managed superannuation fund is registered for GST, that means that your annual turnover is $75 000 or more. Or if you are a. taxi driver or a ride-share driver you will also be registered for GST.   You may be asking yourself, what does being registered for GST mean and what is the point? It essentially means that your organisation will be collecting…  Read more

Is your small business ready for Single Touch Payroll?

Are you ready for Single Touch Payroll? For employers with 19 or fewer employees, single touch payroll (STP) legislation will be coming into effect on the 1st of July 2019. Are you ready? What is Single Touch Payroll and what do the changes mean for your business and who does it affect? What will you need to do to prepare, so that you will be compliant? What is Single Touch…  Read more

What does an accountant do?

The best accountants can do much more than just tax and compliance work for your business. They’re troubleshooters and strategic advisors for small business. Basically, having an accountant means that you can operate your business with more clarity and confidence. Whether you’re working to get a startup off the ground, or taking the reins of an established business, you’ll see value from making an accountant part of your team. When…  Read more

JobKeeper Packages and Registration

Contact Form NameEmail MessageCAPTCHAEmailThis field is for validation purposes and should be left unchanged. Related Posts 3 Tips to Make the Most of the End of Financial Year The NSW COVID Small Business Grants Building a Personal Financial Plan – Essential Tips from Our Advisors  Read more

The best of both worlds: mixed use property investment

Building a new home that looks and feels just right – or making big changes to the place you live – is a goal for many. But it can be a more complicated process and a very different experience to buying an existing property. And it can require a specific type of financing – a construction loan. Maybe you already know how a standard mortgage works. Broadly speaking, you take…  Read more

COVID-19 Measures by State and Territory

Australian State and Territory economic relief and stimulus package summaries In response to the coronavirus (‘COVID-19’) pandemic currently impacting the economy and businesses generally, each Australian State and Territory Government has announced relief and other support packages as part of the broader economic stimulus measures. To assist tax practitioners and their clients, the NTAA has prepared the following tables which briefly summarise some of the key initiatives announced by each…  Read more

JobKeeper Info You Should Know

The JobKeeper Payment On 8 April 2020, the Federal Government passed a package of Bills through both Houses of Parliament (which received Royal Assent on 9 April 2020) to give effect to (amongst other things) the JobKeeper Scheme. Subsequent to this, a Legislative Instrument was released by the Treasurer containing the detailed rules of the JobKeeper Payment. Refer to the Coronavirus Economic Response Package Payments and Benefits) Act 2020, the…  Read more

What is a business line of credit?

As a small business, you have many funding avenues available to you. It can be overwhelming trying to understand which option is best for you and what the pitfalls and benefits are. A business line of credit is one option that many businesses utilise at various points in their business cycle and it can be a very useful tool. It works a bit like a credit card with access to…  Read more

Creating a small business budget

Small business budgets are empowering. They give you the knowledge and insight to eliminate wasteful spending and get to profitability faster. When setting a business budget, you need good numbers. Don’t guess at what’s coming in and what’s going out. You could be making assumptions that just aren’t true. Take the time to look into your accounts and dig out the real figures. It might sound like hard work but…  Read more

Keeping yourself, your business and your customers safe online

Access to the internet is a business imperative to connect to customers, transact business and network across geographies and industries. Likewise, a concern for individuals and companies operating online is keeping sensitive data and information secure from cybercriminals and hackers. Supporting customers with security The day to day impact of cybercrime has become a fact of life and a permanent reality for businesses. So, it’s important for small businesses to…  Read more

JobKeeper FAQ

  The Australian Government has just released a Frequently Asked Questions regarding the anticipated JobKeeper payment. These FAQ have come directly from treasury.gov.au website.     To view the JobKeeper FAQ please click here.     Related Posts 3 Tips to Make the Most of the End of Financial Year The NSW COVID Small Business Grants Building a Personal Financial Plan – Essential Tips from Our Advisors  Read more

What Having an Airbnb Means for Your Tax Return

Tax is a complicated topic. Knowing what to include in your tax return can often be hard to get your head around. The following information will be handy to know if you are an Airbnb host or thinking of becoming one. Rental Income Any income that you earn from listing your property as an Airbnb you must declare in your tax return. This income will contribute to your taxable income.…  Read more

The “6 Year Rule” – Treating Your Home as your Main Residence after you Move Out

  As a general rule, a home ceases being your main residence once you stop living in it. However, you can choose to continue treating it as your main residence and therefore not be liable to any capital gains tax (CGT) on the eventual sale. Commonly referred to as the “6 year rule”, if you move out of the property and rent it out, you can continue to claim an…  Read more

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