Post Type: Video
- Budget Update: A Small Business PerspectiveGlenn shares his thoughts about the recently disappointing news for small businesses in the recent federal budget release. The proposed increase in the instant asset write-off to $30,000 has been stalled, likely settling at $20,000. With rising prices, this isn’t ideal. Additionally, the $300 Power rebate and trimmed tax cuts offer little excitement. Watch the…
- Sharpen Your Numbers – FAQ: Why do the ATO want multiple payments for BAS, tax, PAYG; why can’t I just pay one payment?Our latest frequently asked question is from Gavin: “Why does the ATO want multiple payments for BAS, tax, and PAYG? Why can’t I just make one payment?” In this video, Glenn shares why the ATO requires multiple payments for BAS, tax, and PAYG instalments. From withholding employee wages to GST and income tax, each payment…
- Sharpen Your Numbers – FAQ: Can I or should I, put money into my superannuation and claim a tax deduction?Sarah asks about claiming a tax deduction for contributing to her superannuation fund. In our latest FAQ video, Glenn explains the options: salary sacrificing, where the employer contributes pre-tax dollars, or making deductible contributions from after-tax salary. Both offer tax benefits, with differences in timing. Seek advice tailored to your situation for the best approach.…
- Sharpen Your Numbers – FAQ: When should I set up a self managed super fund?Steve from Buninyong asked about setting up an SMSF, a question we’re hearing a lot lately. He wants to know when to set up an SMSF, how much is needed, and what investments are possible. While it’s a complex topic, SMSFs offer flexibility, allowing investments in shares, property, even exotic assets like diamonds or artwork.…
- Sharpen Your Numbers – FAQ: Why can’t I just use spreadsheets for my business?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…
- Sharpen Your Numbers – FAQ: I want to go into business for myself, where do I start?Glen asks about how he can get started with a new business. Glenn suggests beginning by seeking advice from professionals like us. Start by consulting with an accountant to understand tax implications and record-keeping requirements specific to your business. It’s crucial to grasp these fundamentals before diving into your entrepreneurial journey. Learn more in this…
- Sharpen Your Numbers – FAQ: How will the Stage 3 tax cuts it impact me?James from Ballarat asks about stage three tax cuts. He earns around $90,000 annually and wants to know how it will affect him. In response, we explain that under the proposed Labor changes, he’ll initially be about $800 better off. However, as his income grows over time, surpassing $120,000, he’ll start paying a higher tax…
- Self-Managed Super ScamsRecent news highlights the prosecution of self-managed super fund promoters by ASIC, marking a crucial step in safeguarding unsophisticated investors from fraudulent schemes. These promoters targeted individuals unaware of their deceptive practices, promising lucrative returns while misappropriating funds for personal gain. In one case, investors lost a staggering $25 million to a cryptocurrency investment scam,…
- Stage 3 Tax Cuts + Bracket CreepIn recent news, there’s been significant discussion surrounding the stage three tax cuts, particularly with the Labor government’s decision to modify them. Originally intended to address bracket creep for individuals earning up to $200,000, these tax cuts were agreed upon by both sides. However, the proposed adjustments by the Labor government aim to allocate these…
- The importance of business owners working ON their business rather than IN their businessAre you getting bogged down with the day-to-day operations in your business rather than prioritising the strategic aspects? Glenn and Ewen share what they see often and share some advice on what you can do to change how you work in your business in this discussion.
- Director vs. Leader: Unlocking Business SuccessWatch our engaging video to grasp the key disparity between being a Director and a Leader, and why it matters for your business triumph. As an accounting firm specialised in serving businesses, we understand the importance of strategic decision-making and operational execution. Being a Director involves setting the strategic vision, making long-term decisions, and charting…
- The Power of a One-Page Business PlanMany business owners operate without a plan, but having no direction can lead to missed opportunities and stagnation. While lengthy business plans often gather dust, a one-page plan can be a game-changer. This short, sharp strategy helps you map out 90 days of focused actions using the Now, Where, How approach: Now – Where is…
