Ratio analysis methods for your business
Financial ratios are useful tools for business owners to monitor, analyse and improve their business performance. By using ratio analysis methods, you can gain insight into a company’s liquidity, efficiency and profitability… Read More
Tax time changes
The ATO will start processing 2018-19 tax returns on 5 July 2019 and are expected to start paying refunds from 16 July 2019, with the majority of electronically-lodged current year tax returns… Read More
Building the right team for your business
While hiring the right staff is a key element when running a business, to be successful you will need to build a strong team. Here are some tips on turning a group… Read More
How the ‘Protect Your Super’ changes will affect you
A number of changes to superannuation will come into effect from 1 July 2019. The ‘Protect Your Superannuation’ Bill passed through Parliament in February and forms part of the Government’s package of… Read More
What and when you need to report in your SMSF
The event-based reporting (EBR) framework for self-managed super funds (SMSFs) commenced on 1 July 2018. This system allows the ATO to administer the transfer balance cap. Reporting under the EBR framework commences… Read More
Startup essentials to help your business succeed
Starting your own business can be as daunting as it is exciting. There are many aspects that need to be considered when making the change to becoming your own boss. Here are… Read More
Changes to the ABN application process
The ATO has made recent changes to the application process for an Australian Business Number (ABN). The changes have been made as a measure to protect the process’ integrity and identify those… Read More
How to get the most out of business meetings
Conducting meetings is a regular way of communicating what needs to be done around the office, but if nothing gets accomplished it can be discouraging. Business meetings that don’t produce results can… Read More
Reducing errors when claiming business expenses
The ATO has identified particular areas relating to business expenses that are commonly entered incorrectly in tax returns. Owners should take the time to carefully review tax returns to ensure all information… Read More
In’s and out’s of the super downsizer scheme
Under the super downsizer scheme, eligible individuals that are 65 years and older may be able to make a contribution into their superannuation of up to $300,000 from the proceeds of selling… Read More
Risk management strategies for investors
When it comes to investing your money, there is the possibility that it may not perform as well as expected with you losing some or all of the original investment. While no… Read More
Choosing the right business location
When setting up your business, choosing a location can be a critical factor in its success. Unless you are completely home-based, you will need to decide where you will conduct your business… Read More
What disqualifies you from an SMSF
Self-managed super funds are regulated by the ATO and have specific eligibility criteria that members and trustees must follow. While anyone 18 years old or over can be a trustee or director… Read More
Tax incentives for start-up investors
Tax incentives may be available to investors that are considering putting their money into qualifying start-up businesses. Eligible businesses are defined by the ATO as early-stage innovation companies (ESICs). The two key… Read More
Common mistakes to avoid when launching a business
Starting a new business is an exciting time for many entrepreneurs. However, there are 5 common mistakes many new business owners make. By being aware of these mistakes, you will increase your… Read More
Consolidating your debt
Debt consolidation loans are a financial solution that may be suitable when you have multiple debts at once and are struggling to manage them all. Debt consolidation is the process of bringing… Read More
ATO impersonation scam report
The ATO has released an Impersonation Scam Report for the month of February 2019. Highlighted are the various ways in which scammers have attempted to contact people, posing as the ATO. The… Read More
ATO warns of TBAR lodgement errors
With upcoming annual lodgement dates for Transfer Balance Account Reporting (TBAR), the ATO is alerting funds of common lodgement mistakes that could lead to delays and additional processing time. The Transfer Balance… Read More
Handling negative feedback
Customer complaints are an inevitable part of running a business. How you handle negative feedback can help or hinder retaining existing customers. Complaints can be a great learning tool for businesses looking… Read More
Super changes to protect employees’ entitlements
Several revisions from the Treasury Laws Amendment (2018 Measures No.4) Bill 2018 took effect from 1 April 2019. These measures are designed to help reduce the super guarantee (SG) gap, protect employees’… Read More
