Category: Business Tips

Here’s a common mistake we see often at tax time: claiming car expenses based on a car logbook that no longer reflects how you actually use your vehicle. The Australian Taxation Office has reminded taxpayers that now is a good time to check whether your car logbook is still doing its job. Many people assume…

A client recently came in, ready to sign finance paperwork for a new work vehicle. He’d sorted everything with his bank – just needed our signature on the company financials. Before we signed anything, we asked him one question: “How does your business report GST – cash or accrual?” He paused. “Accrual, I think. Why…

You’re running a profitable business. Revenue is strong, you’ve built a solid team, and the kids are in private school. By most measures, you’ve made it. But here’s the question that keeps successful business owners awake at night: are you making the most of what you’ve built, or are you leaving money on the table?…

From 1 July 2025, a key change to tax legislation is now in effect: interest charges imposed by the ATO are no longer tax deductible. What’s Changed? Previously, interest charges from the ATO, such as the General Interest Charge (GIC) and Shortfall Interest Charge (SIC), were tax deductible, reducing your taxable income. Now that the…

As the year draws to a close, we encourage you to reflect on your achievements, learn from your challenges, and plan for the year ahead. If you’re looking to recharge and gain fresh insights for your business, why not pick up a great business book during the holiday break? To help you get started, we’ve…

In his latest video, Glenn shares advice on running a successful bakery, starting with knowing your numbers. Discover how to track and optimise key performance indicators (KPIs) like staffing costs, cost of goods, customer flow, and average spend. Learn practical tips to reduce wastage, streamline operations, and make small changes that drive big improvements in…

Your business plan is the roadmap that guides your company’s journey. It’s crucial for outlining your direction, setting goals, and securing investment. So, what should you include in your comprehensive business plan, and what key factors should you consider? Key Elements of a Business Plan A well-structured business plan typically includes: Clear Direction: Define your…

Purchasing an established business can be a strategic move, whether entering the business world for the first time or expanding your existing empire. However, buying a business is a significant decision that requires thorough research and careful planning. Before making any commitments, consider these five key questions: 1: Why Is the Business for Sale? Understanding…

In business, cashflow equals confidence and resilience. Take charge of your financial future with these strategies to help you manage cashflow in your business: Establish Clear Payment Terms: Set clear Terms of Trade outlining payment expectations for each customer. Ensure prompt payment by clearly defining payment deadlines and consequences for late payments, as outlined in…

In today’s competitive business landscape, ensuring timely payment is paramount to sustained success. Any business model’s core lies the pivotal process of generating revenue through sales. However, the viability of this revenue stream hinges on the prompt settlement of invoices by customers. Efficiency is key when it comes to cashflow management. The smoother the payment…

Having a firm grip on your business finances is paramount for making informed decisions and ensuring sustained profitability. In today’s digital age, leveraging the right tools and technologies can streamline your financial management processes and provide valuable insights into your company’s financial health. Here are five key strategies to help you take control of your…

Spreadsheets might seem simple, but they often lead to errors, missed GST claims, and time-consuming end-of-year processes. In this video, Glenn explains why accounting software like Xero is a smarter choice, helping you stay on top of your business finances, streamline tax reporting, and get better insights to grow your business. Notice: JavaScript is required…