Business
Chasing up Debtors
You need to be consistent and follow up
Sometimes you are at the mercy of your customer i.e. they pay 30days from statement - if this is the case then you can't do much other than send the statement on time ie 1st day of the month
If you can force your client to pay prior to the work being done then great - that alone should get you paid
If not then consider getting the to pay for your costs upfront that way at least they are covered
Set your terms eg 7days from invoice
Automate as much as possible
... read moreDecember 2024
Topics Include
- Chritmas Parties and Fringe Benefits
- Cyber Security for Small Business
- Business Success Tips
- How to read a Balance sheet
September 2024
Topics Include
- Estate Planning Considerations
- 5 Checklists to Support your Business
- Supperannuation Changes from 1 July
- End of the Road for your Business
- Changes to Casual Employment
- 7 Steps to Dealing with a Legal Dispute
- ‘Bleisure’ travel claims in ATO sights
2024-2025 Australian Government Budget for SBE
2024-2025 Australian Government Budget for Small Business
Delivering a better deal for small businesses
Sole Trader - complete guide
- Asset Protection
- Income
- Expenses
- Tax
- GST
- Buying a business
- Selling a business
- Other
Starting a new business
Xero Toolkit
- Research
- Setup
- Finding & selling to customers
- Getting paid & paying others
- Business accounting 101
- Xero free trial
Excel Cashbook - 2025 Tax Year
Recommended for Sole Traders ONLY who are:
-Not registered for GST
-Not employing staff
Company or Trust?
Coming Soon
September 2023
Topics Include
- Contractor Payments (TPAR)
- Trade Marks
- Selling your business
Tax Return Process - Business Clients
Steps we follow to prepare your business tax return
... read moreJune 2023
Topics Include
- The 2023-24 Federal Budget Highlights for Individuals, Small & Medium Business, and Superannation
- 2023 Year End Tax Planning Guide
- 2023-2024 Tax Return Checklist
... read more
Sole Trader - What deductions can I claim?
Small Business Entities (SBE) can generally claim everything they spend on the business, except expenses which of a private or capital nature
... read moreSmall Business Technology Investment Boost and Small Business Skills and Training Boost (ends 30/06/2023)
Small Business Technology Investment Boost (ends 30/06/2023) and Small Business Skills and Training Boost (ends 30/06/2024)
... read moreChanging from a Sole Trader to a Company or Trust
My business has grown and I think its time to change to a Company
... read moreDecember 2022
- 4 Myths of Starting a Business
- Company Director ID Deadline Extended to 14 Dec
- ATO Identify 3 Primary Targets for Individual Taxpayers
- ATO is Watching the Cash Economy
- ATO Fines to Increase
- Expansion on Single Touch Payroll Phase 2
- Hello 2023 - is it Time for a Business Health Check?
ATO Scams what we never do
The ATO has again encouraged businesses and individuals to brush up on their knowledge of tax and superannuation scams – and that they know what to look out for. In this regard, the ATO states that here are a few things it never does:
... read moreDo I need to register for GST?
You must register for GST once your sales turnover reaches $75,000 (see below - working out your turnover)
You can voluntarily register for GST if your sales are under $75,000 – business owners choose to register so their business appears bigger than it is or to claim back GST on a large purchase
You must register for GST when you provide taxi or limousine travel for passengers (including ride-sourcing) regardless of your GST turnover – this applies to both owner drivers and if you lease or rent a taxi
... read moreHome-based Business Expenses
For the small business owner claiming deductions for the costs of using your home as your main place of buisness
... read moreTax Planning - Trusts
Tax planning is the process of estimating your current year's taxable income and tax payable and taking steps to minimise this.
It involves these 4 steps.
... read moreBuying a Car
IMPORTANT: If unsure as to whether your vehicle / dual cab ute is an exempt vehicle please contact us BEFORE purchasing it
... read moreMarch 2022
- The Key Ingredients for Business Success - Part 3
- Great Teams Build Great Businesses
- Winning Website
- Video, Technology & Software
- Customer Database and CRM system
Marketing Essentials for Business Start-Ups
- Branding
- Website
- Social Media
... read more
Bookkeeping software
We recommend Xero (for most clients)
Other common bookkeeping software includes
- MYOB
- Quickbooks
- Reckon
- Sassu
Paying Workers - Links
Take care when employing contractors as they may actually be employees in the eyes of the ATO.
Work cover, payroll tax and super may also be payable - you will need to refer to the relevant authority's website for further information
... read moreStarting a business
When starting a business & deciding which entity to use (sole trader, trust, company) we focus of 4 things
1-Asset Protection - protecting business owners assets
2-Income Tax Minimisation
3-Capital Gains Tax Minimisation - when selling / exiting
4-Exit / Sale of Business
Other considerations include – director wages & super, work cover, image, note that some businesses will only deal with a company/trust as opposed to sole traders
Make a free 30min no obligation appointment with us
... read more