How strong is your cash flow management? Particularly when a business is just starting or undergoing some form of transition, cash flow can be a deciding factor in whether it survives. Some people may be asking, what is cash flow? Cash flow meaning in accounting, is defined as the net cash flow coming into and…
Whether you’re investing in crypto yourself, you know someone who is, or you’ve heard about it on the news, cryptocurrency is big business. From highly volatile coins to coins with a steady increase and incredible value, many see bitcoin and similar currencies as a quick and effective way to make cash. But as a relatively…
One of the most important decisions you’ll make when you set up a business in Australia is what kind of structure your business will have, and your choice depends entirely on you and your circumstances. Put simply, it’s a question of whether the business is a separate legal entity to you, or whether you are…
The accounting profession is full of acronyms, phrases and terminologies that can make it difficult for small business owners with little or no accounting experience to understand what’s going on. But while accounting sounds confusing on the face of it, once you understand a few basic accounting concepts, there isn’t all that much to it….
Whether you’re purchasing a home for the first time or planning to relocate to New South Wales, understanding all the costs attached to buying a new property up-front is the best place to start. Like every state in Australia, NSW stamp duty is a specific fee or cost you will pay when purchasing a home….
The tax considerations of being self employed in Australia are unique. Legally minimising your tax burden and taking advantage of every available deduction requires careful and informed forward planning of tax minimisation strategies. If undertaken without professional guidance, tax management can be riddled with missed opportunities for claiming tax benefits. Unanticipated and unnecessarily large tax…
Last month, the New South Wales government proposed changes to stamp duty in their budget outlines. The aim is an economic boost for the state, with home buyers being given the choice of paying upfront for stamp duty or opting to pay a fixed amount. This will be a lower property tax paid annually that…
Although some of the restrictions imposed due to the pandemic have now eased, many businesses are continuing to face significant financial hardship. For some, this means there are difficult decisions to be made regarding taking on new staff and/or retaining existing staff members. Apprentices and trainees are particularly vulnerable: not only are employers reluctantly considering…
We often see the abbreviation Pty Ltd tacked on the end of the names of many companies. We can probably say with some confidence that most people don’t give those six little letters a second thought, if they ever notice them at all. As a business owner, however, this small collection of letters can have…
The super guarantee amnesty ends in September – make sure you’re prepared The amnesty on companies paying backdated super guarantees comes to an end on 7th September. This amnesty was designed to help companies pay back years of payments that may have gone missing, but without any penalties from the government. If you haven’t yet…