BY: JAMES HARKNESS Small business operators are working weekends and nights to organize the paperwork necessary to meet their EOFY obligations, according to the latest MYOB Business Monitor – a bi-annual national survey of over 1,000 SME owners. “Many operators are making significant personal sacrifices over and above running their day-to-day business, making EOFY not only […]
BY: GUEST AUTHOR Many of Australia’s small businesses might be missing out on potentially valuable tax deductions by not consulting with a financial expert, according to research highlighted by finance and tax software developer Intuit. Conducted with Galaxy Research, the study involved a survey of 400 small business owners in May, this year. The researchers found that, as the countdown […]
BY: JAMES HARKNESS Small businesses can take the pain out of meeting EOFY tax-time requirements by ditching the shoebox overflowing with expense claims and invoices. Dynamic Business spoke to Concur, an expense management solutions provider, to find out more about how small businesses can better manage their invoices and expense claims at tax-time. According to Murray Warner, director […]
BY: JAMES HARKNESS More than 450,000 small businesses have become SuperStream compliant ahead of the 30 June deadline. If your businesses will struggle to adopt the new payment standard in time, don’t worry: the ATO has announced it is extending the deadline by four months. Deputy Commissioner James O’Halloran said small businesses that need extra time to become SuperStream […]
BY: GUEST AUTHOR Business planning tends to be done in cycles. A cycle may be a week, a month, a quarter or a year. At the end of every cycle, you have the opportunity to compare your business plan to your actual results. The insights you gain from this are used to plan for the next […]
BY: STEVE GRANT Let me start by saying that effective marketing is the lifeblood of any successful business, big or small. Having said that, smaller start-up businesses often don’t have a lot of excess cash to splash around so I hate to see their money go to waste on marketing strategies that are unnecessary. Based on what […]
BY: GUEST AUTHOR The end of a financial year is just a date in a calendar, we use this date to draw a line in the sand and say to ourselves – this is how my business has performed. We then report that data to the relevant stakeholders and measure our performance, pay our tax, meet […]
BY: GUEST AUTHOR The end of the financial year can be a stressful time for small businesses, especially if your finances aren’t completely in order. Unfortunately, that’s an all-too-common situation. A recent Xero survey found that three-quarters of Australian small businesses still store their receipts in shoeboxes. With the average Australian business churning through 100 receipts […]
BY: GUEST AUTHOR Everybody who launches a small to mid-size business of their own these days hopes to hit the bull’s eye as soon as possible. The problem is there are literally millions of other people aiming at the same target. This produces competition of millions, meaning the risk of failing to stand out is high. […]
BY: JAMES HARKNESS With just three weeks until small businesses must become SuperStream compliant, the Australian Tax Office (ATO) has urged those yet to implement the new standard to act now. From 1 July, it will be mandatory for employers with 19 or fewer staff to send all super payments and employee information electronically in a standard format using SuperStream. According […]
