Finance
With 30 June 2018 fast approaching, now is a good time to ensure your year-end strategies are in place. In doing so, it is worthwhile considering the following list of ‘Business Considerations’. Base rate entities From 1 July 2017, the tax rate for companies that meet the definition of a “base rate entity” is 27.5%. […]
CREDITORWATCH | 5 MIN READ Do you have a blind spot in your business that is hidden, waiting to make an appearance when you least expect it? A car’s engine doesn’t run well or may even fail to work if one part goes wrong. For example, if the timing belt breaks, then your car is off […]
CREDITORWATCH | 2 MIN READ Join Forces! Did you know you can unlock useful new subscription benefits by connecting your Xero or MYOB account with CreditorWatch? Merging these accounting systems with CreditorWatch is a free service for subscribers that allows us to provide you with information to better protect your cash flow, including […]
CREDITORWATCH | 12 MIN READ Notifiable Data Breaches (“NDB”) With the commencement of the Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth) (“Privacy Act”) on 22 February 2018, not only is there an obligation on businesses to notify the regulator (the OAIC) about a “serious data breach” but also a requirement to have a Data […]
If your business has a tax debt, you’re not alone. The Australian Tax Office (ATO) was owed $12.5 billion by Australian small businesses at 30 June 2016. While most of this was paid on time, many businesses cannot afford to pay their GST and PAYG debts, as well as their superannuation debts, by their due […]
All businesses, even great ones, face challenges. Despite your best efforts as a director to maintain your company’s prosperity, some challenges can be too much to overcome on your own. In Australia, 7,464 companies entered liquidation or administration in the 2016/2017 financial year, according to the Australian Securities and Investments Commission (ASIC). Financial difficulties are […]
Australia’s continued economic relationship with China is showing little sign of slowing down[1], with the country – our biggest trading partner – investing in Australia at a level not seen since before the global financial crisis. There are, undoubtedly, valuable export opportunities for Australia’s small business sector not only in China but also in the […]
The mantra of many successful entrepreneurs is the idea that you must spend money to make money. It is also one of the biggest reasons that some people fail to act on their business aspirations, because they believe that they don’t have the money required to take their business to the next level. I […]
Over the years we’ve heard plenty of grandiose plans for businesses that never eventuate and untold numbers of excuses for not hitting the targets that were bragged about at the start of the year. As accountants, we’re not really interested in all of that, what we’re interested in is the numbers because they tell […]
The strange thing is you can have a full order book and see that your business is really taking off, but if you don’t have a firm grip on the cash flow situation you could struggle to stay afloat and achieve long-term success. It is important to understand why cash flow matters so much to […]