As our local communities work through the mammoth clean up task following the events of last week, our team are working to find ways we can provide maximum support to our clients. To help, we’ve gathered a list detailing the latest support measures available to businesses and residents impacted […]
Insights
38 posts
Is your insurance cover at risk? Most likely, you have life insurance cover through your super fund – which is important for protecting your family, However, there are new ‘Protecting Your Super’ laws that came into effect 1 July 2019 to protect the super balances of all Australians being eroded […]
Save on your Workcover Premium! Today’s tip comes from Troy Joubert at Insurance Advisernet. If you have a Workcover premium of $50,000 or more, and you’re paying your premiums monthly through Workcover, you can save over $1,000 annually using a premium funding loan. The premium funder pays your annual workcover […]
Tax cuts are official! With the Senate passing the Government’s tax plan in full, most taxpayers can expect to see some extra cash in their tax refund this year. If you earn between $48,000 and $90,000, you can expect to receive an extra $1,080 The extra refund reduces for incomes above $90,000, and […]
The new financial year has commenced, which means it’s time to get your annual payroll finalised. Here’s a few key tips to make your end-of-year payroll a breeze! Generate your end-of-year summary reports before commencing payroll finalisation so you can check and reconcile your payroll as you work through […]
Last night, the Queensland Government handed down the 2019-20 state budget. The budget provides payroll tax relief for small business, and a reduction in payroll tax for regional employers. This is partly funded by an increase in the payroll tax rate for large business, and an increase in the land […]
Single Touch Payroll – beat the rush! Time is running out to get STP ready by 1 July 2019. There are advantages to get setup now: Less time waiting on hold – most people will need to phone the Tax Office to link their payroll software, and we expect there […]
Australia voted for business as usual! With the re-election of the Coalition Government, the Australian Labor Party’s ambitious tax plan is now off the table. The election campaign focussed on Labor plans, with very little policy from the Coalition. We have summarised the key tax changes that are expected to […]
The NTAA recently published a summary of the key tax reforms proposed by the Labor party, and we have reproduced this in the table below. We have updated the table to include key tax reforms announced by the Coalition in the 2019/20 Federal budget, and the Opposition’s Budget Reply speech. […]
What is Single Touch Payroll? Single Touch Payroll (STP) is a new payroll reporting standard, where employers are required to electronically report their payroll information to the Australian Taxation Office (ATO) on or before employees are paid. What this means for Employees If your employer is reporting under STP, they […]
Are you struggling to keep on top of your bills? A budget can help you organise your finances, saving you not only time but also a lot of worries. Unfortunately, a lot of people think of a budget as a form of punishment, like going on a diet or even […]
Looking at your latest bank statement, you might think you’re doing okay. You’ve finally paid off your credit card, and you have enough money in your savings account to buy a few luxuries when you go grocery shopping. But what would happen in an emergency—an unexpected trip to the hospital, or major […]
Yeah, I know. Creating a personal budget sounds boring, and is probably something your parents did when they were younger. But it’s still considered the best way for people to manage their money because it helps them keep track of where it’s all going. Unfortunately, a lot of people have […]
Every business needs a unique selling proposition. It needs to stand out from the competition, and attract customers with the outstanding value it’s offering. And the same goes for your website. Developing an online presence for your business involves completing a five-step process, whether you want to: generate leads sell […]
Family budgets. We all know what they are. Chances are we’re even created a few over the years. But how many of us have managed to stick with them? Sure, we start out with the best of intentions. But within a few months we’ve either blown it completely or grown […]
Part of creating a household budget is working out all of your expenses. Then you simply add them all up, deduct the total from your monthly income and voila—what you have left is the amount of money you’ve saved. And the less you pay in expenses, the more you save. […]
Are there any questions you’ve always wanted to ask your customers? Maybe you’d like to know what’s important to them and what their priorities are, both in business and in life. Perhaps you’re concerned about their future, and want to ask what contingency plans they have in place. Or maybe […]
First up – in case you were wondering – just what is a CRM system? A Customer Relationship Management (CRM) system is invaluable for helping businesses manage their relationships with customers, and store potential sales leads for current and future customers. The most effective CRM software let you organise your […]
Whoever said, “You can never have too much insurance” obviously never had to pay the premiums. Still, there’s no denying the fact you need it to protect your business and its assets. So you probably have building and contents, public liability and public indemnity insurance. But what else should you […]
There are two common misconceptions when it comes to wills and estate planning: Thinking that having a will means your estate planning is in order Thinking that it’s solely about what happens after you pass away. These are costly misconceptions that cause families much avoidable stress and added grief. Firstly, […]
How To Have A Seasoned ‘CFO’ Help Guide Your Business Decisions Larger businesses have a Chief Financial Officer (CFO) on staff. But what can small and medium sized businesses do in this regard? Clearly, larger businesses can afford an in-house CFO. But it goes beyond an affordability issue: Large, successful businesses also […]
So you’ve got a great idea for your business, but you don’t have the funds right now to get it off the ground. You could try applying for a government grant, but it’s often a long and arduous bureaucratic process of form filling and there are of course no guarantees […]
As a business owner, you know the importance of risk management and mitigation. To protect yourself you need to regularly: review your operation’s processes to make sure they’re meeting workplace health and safety requirements review your supplier chains to make sure products are available survey customers to gauge their satisfaction […]
If a business owner said to you that they run their business without a budget, what would you think? You’d think they were incompetent. Or perhaps lazy? Or both? But what do most families do? When you think about it, a family is actually a mini business. There is income, […]
“A digital file doesn’t exist unless it’s in three places” When I heard this comment the other day I thought it was simple, yet profound. It came from my daughter, who heard it from one of her lecturers. She’s studying film and television at university. And of course, everything in […]
Most people will quite literally earn millions of dollars in their lifetime. Yet many people struggle financially and live from paycheque to paycheque. With the ageing population and many Baby Boomers now continuing to work, at least on a part-time basis, past the traditional retirement age, people are working more […]
There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with cash. A business can make a lot of […]
Why is it that some companies pay millions of dollars to advertisers just to try to make a campaign go viral and it doesn’t work? It fails to connect… By this I don’t mean people fail to see it or even to respond to it. It fails to connect because […]
In early January, I was privileged to take part in a Study Tour to Siem Reap, Cambodia and surrounding areas organised by B1G1. B1G1 is an organisation which connects businesses with more than 600 worthy causes around the world. As a special bonus, two of our teenagers, Joshua (16) and Jessica […]
Last week I was deliberately observing key moments in business relationships. And two particular moments stood out… for the wrong reasons. Business cards I met somebody last week that I’d only previously known on paper by their reputation and experience. Someone we may well develop an ongoing business relationship with. […]
As a business owner, there are plenty of things you need to manage, and two of the most important of these are assets and risks. In other words, building your wealth and protecting your wealth. There’s no point building a lot of wealth if the way you have things structured behind the scenes means that […]
Thomas Edison once said that “Genius is one percent inspiration and 99 percent perspiration”. Unfortunately, going from that inspirational idea to the finished product takes a lot more than hard work. Just like Edison, you also need to invest in a lot of research and development. And R&D doesn’t come […]