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Business Development
From Sole Trader to Company… Is My Business Ready?
December 17th, 2016A large number of small businesses in Australia generally start out as a sole trader as it is a simple and cost-effective business structure. As a sole trader, you have full control over the business. However when operating under this structure, you are personally liable for all aspects of your business, including debts. This meansread more
5 Tips to Ensure Your Business is Tax Compliant
November 10th, 2016Individuals and businesses are both subject to mandatory contributions to the government in the form of taxes, but tax compliance for business isn’t as straight forward as you may think. To avoid penalties it’s important to adhere to tax requirements set by the Australia Taxation Office (ATO) and settle obligations in a timely manner. We’veread more
The Financial Tools Businesses Need to Survive in Today’s Enviroment
August 28th, 2016In today’s environment, it is more important than ever to know where your business is going. Western Australia, in particular, has been experiencing historical economic growth from our mining boom. But lower commodity prices have started to bite and cause a slowdown in demand. This has been having a flow on effect to those businessesread more
ATO Announces Latest Benchmarks for Small Businesses
July 8th, 2016The Australian Taxation Office (ATO) recently announced the latest benchmarks for small businesses based on the 2014 income tax returns and business activity statements. According to the ATO, the small business benchmarks are guides to help small enterprises compare their business performance against other small businesses in the same industry. Small businesses can use theread more
5 Reasons Why You Need an Accountant for Your Business
July 6th, 2016Entrepreneurs are often lauded for their "jack-of-all-trades" approach to starting their business - doing what they can themselves in the early stages to keep costs down and stamp their mark on their new business venture. One service in particular that is overlooked, however, is that of an accountant. Aside from needing someone to take careread more
Legislation Provides Small Businesses CGT Rollover Relief
June 16th, 2016Since the release of a draft legislation late last year (November 2015), there have been talks about the amendment of this bill now allowing small business to change its legal structure without acquiring capital tax gains (CGT) liability. Now that the Tax Amendment has been passed, small businesses now have the flexibility to change asread more
Investing In Your Employee’s Wellbeing has Proven Returns For Your Business
May 13th, 2016If you could make a small investment in your business that would have proven returns AND likely improve the well-being of your staff, would you make that investment? There is more and more evidence that shows that relatively small investments in the ergonomic knowledge of your employees and, to a lesser extent, the physical environmentread more
How “Genuine” are your employees?
May 5th, 2016The Department of Immigration and Border Protection (DIBP) has recently introduced legislation requiring companies to demonstrate the “genuineness” of a position. What this means in reality, is that the Department is scrutinising whether the nomination is “genuine” in circumstances where the nominated person from overseas is a family relation or personal associate of an ownerread more
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