In the beginning, hiring a CFO may seem unnecessary and maybe even a little extravagant. However, at some point it will be necessary to bring a CFO on board, either full time or on a consulting basis. Why? CFO’s have the expertise that reach beyond the level of a Bookkeeper. They can help take your …
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This morning, the Morrison Government announced a $17.6 billion economic stimulus package to support Australian businesses as we are dealing with the significant challenges posed by the spread of the coronavirus. The package has four components: Supporting business investment Providing cash flow assistance to help businesses Targeted support for the most severely affected sectors, regions …
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The Coronavirus outbreak in China, which is now spreading throughout the world, has forced millions of people to stay at home and not travel which will have an obvious knock-on impact on the economy here in Australia. While the full financial impact of the outbreak on global business is still revealing itself let’s take a …
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With the roll-out of Single Touch Payroll (STP) now finalised for many employers, it’s never been a more important time to ensure that you’re complying with your employee obligations. The Australian Taxation Office (ATO) now have more information than ever before including detailed records of payments made to employees in real time. Given we consistently …
Continue reading “Superannuation obligations & you – the ATO is watching”
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The re-introduced legislation to remove the Capital Gains Tax (CGT) main residence exemption for foreign residents has been passed by the Parliament on 5 December 2019 and is now awaiting Royal Assent. Let’s look at how this may affect you. The proposed legislation was originally introduced by the Government in February 2018 but had lapsed …
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Good planning is a hallmark of all successful businesses.
But before planning comes the “Chemistry Test”… is the business right for you?
Do I need to pay tax on my Crypto currency earnings? Short answer; Yes. Any earnings received via cryptocurrency count as income. So if you’ve bought or sold cryptocurrency in the last financial year, it’s time to start thinking about the impact this may have on your income tax return. If you’ve made a profit …
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The straight answer? YES! One of the first things on your Startup list should be to hire an experienced Bookkeeper. An NCA Bookkeeper will not only provide these baseline services (bookkeeping, software advice) you require all year round, but so much more! They will help you reduce risk such as employment risk and ATO risk, …
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Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if …
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To help you manage your books better and give you the information you need to run a successful business 1. Find a good Advisor When you have Bookkeepers and Accountants that you know you can trust and rely on, it’s going to make everything simpler. They can teach you how complete your Bookkeeping properly and …
Continue reading “Top 10 Bookkeeping Tips”
Read More...Good planning is a hallmark of all successful businesses.
But before planning comes the “Chemistry Test”… is the business right for you?
The greatest trap many of us fall for is to set too many goals for the new financial year!
We have found that the most successful planning years tend to be when we have a smaller number of strategies, but with targeted plans towards their achievement.
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