2019 Federal Budget | What it means for you
This year’s Budget is rather unique as it occurred just before a federal election. While there are many parts of this years’ Budget that apply to future years, we have summarised below the key changes you need to know about for the next 12 months. Remember, if the Federal Government changes then the Budget changes…
Tip Tuesday | The Best Inventory Management Software for Small Business
There’s more to inventory management than keeping track of your products. When to order stock, how much to order, and how much to sell it for can feel like trial and error. But inventory management software can remove the guesswork and give you greater control of your business. Why you need inventory management…
Tip Tuesday | Getting Your Head Around Small Business Payroll
If you’re starting to employ people, congratulations – business is obviously going well. And welcome to payroll. Here’s your introduction to the basics of pay, deductions, and dealing with the tax office. What does payroll mean for small business? At a basic level payroll is giving with one hand and taking with the other. You…
Blog | ATO Toughens Stance as Employers Hit with Rolling Superannuation Guarantee Audits
Employers are increasingly being subjected to a rolling series of audits by the ATO where they slip behind on their Superannuation Guarantee (SG) obligations as the Tax Office now taking a harder line on non-compliance, warns a technical expert. Insyt chief executive Darren Wynen said the focus by the federal government on SG non-compliance has…
Tip Tuesday | 10 Ways to Stay Out of Debt!
Bad debt and late payment can be problems for almost any business. What’s the best way to handle them? Here we look at ten ways to stay out of debt and reduce the impact of debtors. Stay in control of the money you’re owed Business owners often worry about payment. That’s especially true in the…
Blog | Paying Land Tax On Property You Own
It’s land tax time of year! Whether you need to pay land tax on your property depends on: the type of land what it’s used for, and its total value as at midnight on 31 December each year whether you meet the definition of a foreign person for land tax purposes. Exemptions and concessions In…
Blog | Call for more Government Support by Australian Small Businesses.
Over two-thirds (71 per cent) of small business owners say the federal government is not doing enough to support them, in a new study by accounting software provider Reckon (ASX:RKN). Government red tape is considered the biggest obstacle to creating a start-up in Australia, with over half (52 per cent) of SMBs agreeing. The survey, which…
Tip Tuesday | What is inventory accounting and why do it?
Inventory is the biggest cost facing many businesses. But what is it, exactly? We look at the many forms inventory takes and explain what inventory accounting is for. What is inventory? Inventory is the items that your business has bought with the intention of reselling to customers. The items may be resold without change, or…
Black Economy Crackdown: The ATO Goes Doorknocking
The tax office has announced that its investigators will be hitting the streets, visiting businesses directly as part of its ongoing crackdown on the “black economy”. In a statement, the ATO said that it will drop in as many as 500 small businesses across Tasmania, with areas in and around Launceston and Smithton a key…