GST Is Coming Digital Services.

Digital products taxed

Quietly hidden in the 2017 Budget papers is a change that will open a new growing income stream for the ATO. Most of us have become accustomed to accessing information, education or entertainment from digital suppliers like Amazon. Professional services and consultants services will be taxed in the same manner as those delivered face to face. Whilst attention is on … Read More

Financial Year Kick Start

Kick Start the Financial Year

Do you remember where you were 12 months ago? More importantly, do you remember where your business was 12 months ago? It’s the end of the financial year and it’s time to reflect. Has it been a good 12-months? Or, does this EOFY feel like Groundhog Day… again? Today, you have the chance to make a decision about the next chapter … Read More

Pink Dollar: Money That Goes Around Fast

Pink Dollar

Last night I raked a client over coals. We have a very robust relationship, and I really value his ability to talk to me about anything. But it was still pretty harsh when I think about it now. A few weeks ago, he casually mentioned a networking event called “Fruits in Suits.” He told me it would be a predominantly … Read More

5 Ways To Pay It Forward To Increase Your Profit

Paying it forward is Taxation Strategy that provides the business owner with the benefit of a short term and medium term profit increase. The immediate benefit is a reduction in income and therefore taxation savings. In the ebb and flow of end of financial year (EOFY) cash flow, many businesses aggressively hunt down debtors to maximise the cash they hold … Read More

5 Accounting Mistakes Business Owners Make

Mistakes businesses make

Accounting Mistakes May Cause Irreparable Damage Your Business. Mistakes by accountants are rare, aren’t they? Actually, no. Up to 80% of businesses we review have errors in their accounts. Many of these are not the business owners’ fault, yet can have your business reports telling you, the accountant and the Tax Office the wrong thing about how your business is … Read More

5 Things Every Working Mother Needs To Know

Working Mother Happy Mother's Day

. . . . before going back to work “It was only months after my daughter was born that I couldn’t wait to get back to work as an accountant. There were many reasons behind the decision to return to work. Of course, there were financial considerations – covering the household bills, as well as ensuring there was food on … Read More

STRESS CAUSED BY DEBT

Stress Caused By Debt

As it turns out, many people feel the stress of the debt they are in. Spending money becomes a chore. Every little thing that comes up seems like you’re digging a deeper hole, and fun activities are less than enjoyable when you know your cash should be spent on paying off your debt. Debt that seems more “normal” can carry … Read More

MARCH QUARTER BAS IS DUE APRIL 28th

March Quarter BAS

You Haven’t Got Time To Play Around With Cash Flow Strategies Right Now However, the business owner, who carefully plans this period, does something very different AND gets paid very handsomely for it. They don’t screw their customers for extra payments. Nor do they close extra deals. Not even the weather matters. It is no miracle, it is no accident, … Read More

Pay Attention To Your Figures

Figures #panamapapers

Figures From The Past Figures provide objective measures to all of us. Whether we are kids in school, politicians or in the military. If we undertake scientific research, diet for weight loss, operate a business or simply in our personal finance. Although it is easy to calculate statistics from figures in hindsight; forward projection is always more difficult. Your kids … Read More

DIRECTORS LIABLE FOR UNPAID TAX

Directors liable for tax penalties

Directors can no longer avoid being liable for their organization’s tax obligations, following an Australian Taxation Office Ruling in 2012. What Does Being Liable Mean For You – The Owner of Your Small Business? If you run your own business, any assets, whether they are in your bank account, your wallet, equity in your home and your freedom are on … Read More