Post Type: Article

Business owners are often pushed by us to think bigger and bolder. However we had a Strategic Planning Day recently where we had to push a business owner to think smaller, much smaller – that is, about a smaller number of working hours.  The Planning Day was with a business owner who runs a financially successful business, but…

Busy preparing for Christmas and New Year, and you’re already run off your feet. That doesn’t stop you though does it? Sneaking a look at your emails as you’re wraping presents. Taking a call while the prawns are cooking on the BBQ. It’s a situation that many small business owners will know well as they…

One thing all businesses have in common is the need to be profitable. A strong turnover is essential for the longevity of any businesses to succeed. But how do you create profitability and where do you start? The downfall that many small business owners experience is the lack of knowledge to answer those exact questions. When discussing…

The question many people ask is should I go it alone….or should I hire a professional accountant to do it for me?  Most people who don’t work in the profession have a limited knowledge of tax, so whilst you will pay an accountant a small fee for doing your return, the return of your tax…

The top 3 percent of workers could be in trouble this federal budget with persistent whispers in Canberra that the tax rate on super contributions could double for the people who earn more than $180,000 a year.  Obviously by introducing this measure the current limit would be reduced from $300,000 to $180,000 imposing a 30 percent…

In the recent 2016-17 Victorian state budget there was one change to payroll tax that may positively impact a number of Victorian businesses. This was the increase in the threshold of Payroll tax from $550,000 to $650,000 progressively over the next 4 years. The payroll tax threshold has not changed since 2002 for Victoria.  How…

From 1 July 2015 the government has made changes to the way you can claim your work related car travel expenses. Prior to 1 July 2015 taxpayers could use four different methods to calculate their claims. Read on to see what changes were put in place. But as of 1st July 2015 the government has…

The new financial year will bring some new and very welcome tax breaks for small businesses. From July 1 the 1.5% reduction in tax handed down by the Treasurer in the May 2015 Federal Budget comes into effect for incorporated companies with an annual turnover of less than $2 million per annum. The new tax…

With budget night fast approaching, there is more and more press regarding potential superannuation changes that be made to both Superannuation Contribution limits and also pension or assessing of your super via an income stream. With all of the uncertainty that currently exists, we suggest you contact your accountant if you are over the age…

One of the benefits for small business springing from the May 2015 budget handed down by the Federal Government is the proposed expansion of accelerated depreciation on assets from the previous $1000 threshold. The proposal allows small businesses (with an annual turnover of less than $2 million) the opportunity to immediately claim their tax deduction…