,

A hand up for small businesses on cash flow

The ATO has produced a “Cash Flow Coaching Kit”, which is a free resource and designed as a value-add advisory tool for small business owners. It does not replace any existing accounting or financial tools, although it can be used…
,

Other vehicle FBT changes under COVID-19

The special circumstances that coronavirus has thrown our way looks like having some very practical outcomes on certain areas of fringe benefits tax. One of the most prevalent and well-established category of fringe benefits centres on the provision…

New Director Identification Number regime could be just around the corner

The Director Identification Number (DIN) regime may have been lost in many business owners’ peripheral vision, or even dropped off the radar completely, as it has been on the horizon for some time. But it is worth keeping in mind…
,

Make sure you update your ABN: It can be vital

Government agencies regularly access data contained in the ABN registration, and where this is not up-to-date the taxpayer may be missing out on stimulus measures, grants, and other government support. This became painfully evident during the…
, ,

Getting a tax valuation from the ATO

Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value (and therefore the tax that applies to it) may need to be determined. Many tax laws require the taxpayer to determine the…

How to help your small business survive once JobKeeper ends

The JobKeeper wage subsidy has kept thousands of Australian businesses afloat, and their workers employed, through the worst of the COVID-19 induced economic downturn of 2020 but the scheme is scheduled to end on March 28, leaving many small…
,

How to improve your business's financial position

An important part of your business plan should be to improve the financial position of your business. Follow our steps to improve your financial position and cash flow. You don't have to use all the steps, or follow…

5 tips for starting your own successful business

Want to be your own boss but not sure where to start? Some people’s dream is to nurture a business idea through to success. Calling the shots, working their preferred hours and achieving financial independence fires their dream. Many people…
,

Small business insolvency reforms now in place

Insolvency reforms that will allow small businesses to restructure their debts or wind up their operations faster have now kicked in. Changes to Australia’s insolvency framework have been in effect since 1 January 2021, allowing…