Fringe Benefits Tax (FBT) is a tax that is levied on the non-cash benefits provided to employees in addition to their salary or wages. FBT is a separate tax from income tax and is paid by the employer, not the employee. Here are some reasons why businesses should consider reviewing their fringe benefits: Compliance with […]
Here are some financing options available for small businesses in Australia: Bank Loans: Small businesses can apply for loans from various banks in Australia. These loans can come with different terms and conditions, including interest rates, repayment periods, and collateral requirements. Government Grants: The Australian government provides grants and funding programs to help small […]
New businesses often have many questions when it comes to their accounting needs. Here are some of the top questions new businesses ask accountants: What is the best way to structure my business for tax purposes? What are my tax obligations and how do I comply with them? How do I set up my bookkeeping […]
Starting a business is an exciting and challenging time. While it may be tempting to handle all aspects of your new venture on your own, seeking the advice and guidance of an accountant can be invaluable. Here are some of the top reasons why start-up businesses should seek the services of an accountant: Financial Planning […]
Tax planning – why do we recommend it? Tax planning is a great opportunity to look at your business trading for the year to date, assess what goals you have for next financial year, and plan for what tax bill may arise at year end so there are no surprises. Tax planning is usually done […]
We are nearing the end of financial year again. Here are some things to consider to reduce the tax bill or defer some of it to next year: Immediate deduction for assets – due to COVID19, the government has temporarily increased the instant asset write off to $150,000, to 30 June 2020. This also […]
By: Startupsmart The government support offered to startups across Australia is the envy of many entrepreneurs around the world, but these grants can be a tough nut to crack. The lengthy applications, process times and chance of rejection are enough to put most off, but for those who win it can be a game changer for […]
By: Brian Mcdonnell Technology-fuelled digital disruption will continue to transform the Australian workforce, and the emergence of the peer-to-peer, sharing or ‘gig economy’, as we have come to know it, is one of the fastest growing examples of this. In the past, freelancers have been constrained by availability and lack of income stability, but now […]
By Matt Butterworth As business leaders we are always told to “think big.” Innovation and grand ideas are seen as assets when it comes to leaders of a business or employees in that business. But there is one area where you don’t always want to think big. And that is in your culture. As your […]
By: Alan Manly ‘Business is business’is the mantra of entrepreneurs. On the surface it alludes to the harsh reality of a daily battle for survival, but the deeper meaning is the difference between a surviving business and a thriving business. With that in mind, there’s four key things to do to ensure you’re thriving: Know […]
