The Value of a Good Car Logbook

Why is it important to keep a Motor Vehicle Logbook? Have you been using your car to fulfill certain duties related to running your business? If you are, you might want to start keeping a thorough record of your car-related expenses to ensure that you will be able to maximise your tax claim. Many taxpayers are missing out on the opportunity to maximise their claim because of poor record keeping.…  Read more

$10K Cash Limit

A Senate inquiry has recommended that a controversial bill that will criminalise business cash payments above $10,000 be passed with the proviso that the start date be pushed back, among other recommendations.   The bill, which proposes to make cash payments above $10,000 a criminal offence with imprisonment of two years and a fine, was originally set to commence from 1 January 2020, but Assistant Treasurer Michael Sukkar has now…  Read more

Claiming a personal Super Contribution as a tax deduction

If you are like many eager Aussie savers and choose to make voluntary additions to your Super during the financial year, you can claim these as a tax deduction (up to $25k).   However, there is a bit of a process in order for the ATO to accept it, and there are a few calculations to consider before diving headfirst into it. Consider your taxable position, if you have earnt…  Read more

NSW Rental Rules

For the first time in more than two decades, NSW rental laws are set for a massive shakeup. Major changes include limitations on rental increases and set fees for breaking a fixed-term lease.  So, what’s in the NSW reforms?  Some of the bigger changes include: Rent increases must be limited to once per year during a periodic agreement when the fixed term has passed. Collection of Water Usage – your…  Read more

Child Care and Early Childhood Education Relief Package

The Federal Government has just announced a relief package for the child care and early childhood education sector (‘child care sector’). The relief package is designed to: provide free child care to around one million families; and ensure that as many of the child care sector’s 13,000 child care and early learning services as possible keep their doors open for families that need to work and to support vulnerable children…  Read more

JobKeeper vs JobSeeker

The Federal Government recently announced the JobKeeper Payment scheme, which is designed to assist employers (and self-employed individuals) affected by the Coronavirus pandemic to continue to pay their workers. The JobKeeper scheme has been well received and welcomed by all sectors of the economy. In fact, many employers have already contacted employees affected (including those who have been stood down without pay) to inform them that the employer will register…  Read more

Credit report changes: don’t be caught out

If you applied for a home loan in the current financial environment , your lender would probably assess your application in the context of both your credit score and your credit history – on top of your income, assets, liabilities and living expenses. Your credit score is a number calculated by a credit-reporting agency, which compares you to other borrowers and categorises your credit risk profile. The higher your score, the…  Read more

JobKeeper Payment

The Federal Government has announced (as part of its Coronavirus Stimulus Package) the introduction of a new JobKeeper Payment to assist eligible employers (and self-employed individuals) who have been impacted by the Coronavirus pandemic to continue to pay their workers. The following is a broad summary of the key aspects of the proposed JobKeeper Payment, based on the Government’s Joint Media Release dated 30 March 2020 and the information that…  Read more

4 Tips for Getting Your Business Through Tough Times

If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. Here are four tips for getting your business through difficult periods so you can look forward to…  Read more

Resources for your Self Isolation

A lot of people are feeling anxious, angry, scared and worried. During this time, it is vital that you look after your mental health and wellbeing. By staying at home right now you doing a great thing to protect your health.   Your wellbeing while you’re staying at home is important and we want you to know you’re not alone. We’re all in this together.   To stay connected and…  Read more

Apps to Keep You Healthy during Self Isolation

Around the world, millions of people are in self-isolation. This is a time where individuals are required to stay in their homes or in a hotel. During this time, daily routines are being disrupted, gyms are closed, pubs are closed, and social interaction is kept to a minimum. It is extremely important at this time that you keep active and keep your mind and soul nourished. We are lucky to…  Read more

Who is Open and Who is Closed?

Who is Open and Who is Closed? Banned or closed Registered and licensed clubs, licensed premises in hotels and pubs, casinos and night clubs. Cinemas and entertainment venues Auctions and open house inspections. Personal services such as beauty therapy, tanning, massage and tattoo parlours (but not physiotherapy). Outdoor and indoor markets, although “major food markets” (the prime minister cited Sydney’s Flemington market as an example) will be addressed by states…  Read more

Information for Employees – Coronavirus (Covid-19)

In the workplace What if you want to work from home as a precaution? If applicable you would need to make a request to work from home (if possible), or take some form of paid or unpaid leave.  Requests would be subject to normal leave application process. Personal Leave If an employee contracts the Coronavirus or needs to care for a member of their immediate family who have contracted the…  Read more

Support for Businesses

The following government website is a great resource for accurate government correspondence and information: australia.gov.au The Australian Government is supporting Australian businesses in the following ways: Boosting cash flow for Employers Temporary relief for financially distressed businesses Increasing the instant asset write-off for depreciation Backing business investment Supporting apprentices and trainees Tax Payment Deferrals Important notes for employers regarding various employee situations: Section 524 of the Fair Work Act states…  Read more

Changes to Superannuation in response to COVID-19

In response to the COVID-19, the Australian government has made changes to access of your superannuation. What does this mean for you? If you meet the eligibility requirements, you can access up to $10,000 from your superannuation savings, in both this financial year and the next*. Eligibility requires one of the following: Unemployment Redundancy on or after 1 January 2020 A reduction to working hours of 20 per cent or…  Read more

How to Connect to Clients Without Face-To-Face Meetings

With many office’s still open and offering their services, and social distancing in full swing, we need new ways to meet with clients, telephone and video conferencing is the best way to keep in contact, and keep your business moving. With an ever-adapting world with modern technology, there are multiple ways to connect: Zoom video conferencing – https://zoom.us/ Facetime Telephone appointment Avaya Video Conferencing – https://www.avaya.com/en/?elqTrackId=5ff6f7f0b8814911a37db979fd4e88b5&elqaid=11535&elqat=2 Express Virtual Meeting –…  Read more

Mobile Technology Trends for Small Businesses

Mobile technology is changing the way we do business. Consumers now use smart devices to research, compare and purchase products and to communicate with your business. This is changing the way businesses need to operate at a fundamental level. Are you missing business opportunities by overlooking this key technology trend? As one of the fastest growing technologies, mobile technology will affect your business operations. For example, the increasing use of…  Read more

Recruiting new staff? Start with a plan

When you are employing staff, there are a number of things to consider for your business. Before you place the job ad, review your current staffing. Is there existing talent and capacity within your team that could cover the role? When you’ve established that your current staff capacity requires you to hire, you’ll want to follow a robust process to ensure you attract quality candidates. Job description – Be clear concise…  Read more

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