5 things to remember for a FBT-friendly Christmas

With Christmas only a couple of months away you are probably beginning to think about your office Christmas party and other fun things you do around this time of year. Before you begin planning it is important to think about the Fringe Benefits Tax implications of your festivities. With this in mind, you can have…

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5 tips for getting your eCommerce business started

Are you considering getting into eCommerce? It is a very lucrative opportunity, filled with creative stores selling a wide variety of products to different niches. The eCommerce market in Australia is the 11th biggest in the world, which is tipped to grow to over $44 billion AUD by 2024. With a market so large there…

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Important changes to employer obligations for employee superannuation from November 2021

From 1 November 2021, if you have new employees start, you may have an extra step to take to comply if they don’t specify a super fund. Luckily it’s only a minor tweak and won’t add substantial effort to your employee onboarding process.   What has changed?   Where a new employee does not specify a super fund, employers must make super contributions to the employee’s “stapled fund”. Previously, the employer could simply direct…

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What is Payroll Tax?

If you own a business that has employees you may have heard about payroll tax, and wondered what it is. For many very small businesses with 1 or 2 employees you may not yet have been required to pay it, and so may not be sure when you will need to. In the case where…

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6 common bookkeeping myths busted

Bookkeeping is an extremely important aspect of any business. Despite this, there are so many myths surrounding what a bookkeeper does, and the real value they bring to businesses. As well as this, they often get confused with accountants, who do a very different job. Because of these myths, many business owners miss out on…

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DIY or hire a bookkeeper, which path should your business take?

When you are running a small business there are a lot of behind-the-scenes paperwork and record-keeping that needs to be done. This can take a lot of time and effort for business owners. While the option exists to take this away from business owners, many have limited financial resources. This ultimately leads to a tricky…

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6 common tax mistakes small businesses make

Tax time has come and gone for another year, but now is not the time to get back into old habits. With less than 12 months until the next end of the financial year, it is vital that you put in good bookkeeping habits now to make the next tax time smoother. This is important…

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What does it mean to “know your business’ numbers”?

To be successful in business you need to know your numbers. This is often repeated by bookkeepers and accountants to business owners. But the thing is, it is true. The business owners who are the most successful are those who know their numbers very well and use them regularly to make decisions. So what exactly…

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How to separate your business and personal tax

It can be extremely easy, as a small business owner or sole trader, for your personal finances and business finances to mix up. But it is extremely important that they don’t in order to reduce financial headaches. There are many major benefits to separating your business and personal finances. You will save time and money…

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All you need to know about Fringe Benefits Tax

You have likely heard about Fringe Benefits Tax (FBT). Whether it is because your accountant has mentioned it, or you have seen it on your tax return, you might be very confused as to what it is. Many business owners feel the same way, wondering how it applies to you. If you are an employee…

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