Post Type: Article

Australian Baseball Team Perth Heat made headlines when it announced it will give players and staff the option of being paid in Bitcoin. The article outlines their plans to account for fluctuating cryptocurrency prices, as well as the anticipated benefits, like an increased ability to attract international talent. It doesn’t, however, talk about the tax…

You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a director ID also applies to individuals who have an SMSF or a trust with a corporate trustee, which is why I wanted to bring this new requirement to your attention.

Having enough money for your day-to-day business requirements is crucial. It is what keeps your business going – and helps you sleep at night. Introducing cash flow targets at your business can help you optimise your cash flows.  What are Cash Flow Targets?  Before we define cash flow targets, let’s take a quick look at…

Growing a business is incredibly challenging. It takes time, expertise, and good decision making across the board. One of the decisions management will need to make is when to hire a Chief Financial Officer (or CFO). Timing is key for businesses looking to grow and achieve their goals. So, when should a business consider a Virtual…

For many business owners, the pandemic has disrupted ‘business as usual’. Budgeting and business planning have been put aside, while businesses scrambled to adjust to changing regulations, lockdowns, and fluctuating demand. With vaccination targets reached, and business as usual returning, now is a good time for a business health check.  What is a Business Health…

A quick look at news headlines over the past 10 months (since we published our Business Outlook for 2021) reveals the turbulence the Australian economy has experienced. On June 1, Reuters published “Australia’s economy booms to pre-pandemic levels as consumers, businesses spend”. 6 weeks later, a Reuters headline read “Australia faces first economic contraction in…

It can be difficult to know when it’s the right time to invest in the new machinery, technology, or other equipment your business needs. Making your purchases at the right time can drive growth, offer tax benefits, and improve efficiencies. While poor timing can result in cash flow issues and missed opportunities. In this blog…

Although Regional Victoria has come out of lockdown, support has been extended for Victorian businesses. The Victorian government has announced a fresh $2.34 billion injection to its business support package that’s jointly funded by the federal and state governments in response to Melbourne’s ongoing Delta coronavirus outbreak. Link to confirmation of extended support here. Here’s…

Aligning your marketing strategy with your financial goals helps ensure your actions are focused and impactful. But for many businesses, there isn’t adequate communication or strategy to align the two. Bridging that gap can help you take steps towards increased growth. Here are three practical ways to align your marketing strategy with your financial goals:…

Staff turnover is expensive, particularly for small businesses. When a team member leaves, you must spend time and money on rehiring and retraining them. In the meanwhile, you lose out on productive hours while your remaining team members scramble to cover their responsibilities. It’s possible (or even likely) that your customer service might slip during…

As your business grows, so does the impact of your financial decisions. This is why the best businesses have a strong network of advisors. More and more businesses are relying on outsourced CFO services, read on to learn what a virtual CFO could do for you:  What are Outsourced CFO Services? Outsourced CFO services are…

The Super Guarantee rate is set to change this financial year for the first time since 2014. But that’s not the only change to super this year. Here’s what employers need to know about the superannuation changes in 2021:  Is superannuation increasing in 2021? The rate of compulsory super is now 10%, up from 9.5%…