Starting a new business is an enormous undertaking and, despite the blood, sweat and tears from passionate people, not all new businesses survive their first few years. No one plans for their business to fail – so what goes wrong? Chris Mooney from My Business discusses this further in this article here, but there are […]
As we are well into the first quarter of the new financial year we have some important updates for you from the ATO. They include the Phase 2 rollout of Single Touch Patroll and information on Superannuation Guarantee obligations. Single Touch Payroll Phase 2 Single Touch Payroll (STP) is being expanded to reduce the burden […]
Any business is made up of multiple parts such as staff, production line, suppliers and customers. It can be difficult to know when an issue arises before it has a major impact. Keeping your finger on the pulse of your business enables you to set goals, make better decisions and assists in getting finance. A […]
If you keep up to date with emerging technology or stocks, you will probably be following how ‘cryptocurrency’ is going. The ATO estimates more than 600,000 Australian taxpayers have invested in crypto assets. The ATO is working hard to erase the misconception that crypto currency gains are exempt from tax when cashed back into dollars. Over the […]
One of our most frequently asked questions is “How am I able to claim my car deductions?” The ATO defines the ability to claim car deductions: “… for motor vehicle expenses, if you use the vehicle in performing your work-related duties. How you work out your deduction will depend on if you are using: The […]
Setting a budget for your business may seem daunting, but it doesn’t have to be. A well-planned small business budget will empower you to eliminate wasteful spending and lead your company to become more profitable faster. That’s just of the reasons we are trusted Xero accountants Gold Coast. Our partners at Xero have stated that […]
As most employers would know, when hiring a new employee, they will nominate a super fund of their choosing. However, we understand you may face some issues because of the following: A) The employee isn’t sure who their current super fund is or B) If this is their first job, they haven’t nominated one yet. […]
Below are some Australian Government initiatives that provide support and assistance to businesses that have been affected by the lockdowns countrywide. Note: They are relevant from August 2021. Job Maker and Job Saver packages If you are a sole trader, the owner of a small business or a not-for-profit organisation in NSW and QLD, the […]
In light of the pandemic and how it is still affecting business in 2021, the NSW Government has announced further relief programs to help small businesses deal with the new effects of COVID-19 NSW. Currently, there are numerous lockdowns reaching from the Victorian border all the way up to the Queensland border. COVID-19 in NSW […]
When you own a business, tax liability is the last thing you’ll want to encounter. Because of this, small companies, entrepreneurs and innovators choose to outsource their accounting. This ensures their books are correct and they have a future strategy. For small businesses looking for Northern New South Wales accountants, we’re here to help. Helping […]
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