From Spreadsheet to System: Why It’s Time to Break Up with Excel
We get it—spreadsheets are the comfort food of small businesses. They’re familiar, dependable, and always there for you when you need to whip up a quick formula. But while spreadsheets may have helped you get your business off the ground, they might be holding you back from reaching new heights. It’s time to leave the […]
Getting help with your small business debt
Are you struggling with debt? It’s a real worry when debt levels are on the up, but cashflow levels are heading down. We know the stress, uncertainty and pressure you can feel as the business owner. But it’s not all bad news. There are ways to overcome the debt and get things back on track. […]
Why Registering for FBT Matters: The Benefits of a Limited Audit Period
Fringe Benefits Tax (FBT) is often overlooked by businesses that provide benefits to employees outside of their salary. However, one of the most compelling reasons to register for FBT—even if your liability is minimal—is the significantly shorter audit period for registered businesses. Understanding this can save you from unexpected scrutiny and potential penalties down the […]
NEWS: The ATO’s latest small business hit list: what you need to know
The Australian Taxation Office (ATO) has once again outlined its focus areas for small business compliance, giving more than 2.5 million small businesses across the country a heads-up on where enforcement activities will be ramping up. While most small businesses are doing the right thing, the ATO is cracking down on those who are incorrectly […]
Rising insolvency rates in 2024: What it means for small business
The second half of 2024 brought alarming news for Australian businesses, with ASIC data revealing a 47% increase in insolvencies compared to the same period in 2023. This trend signals growing financial distress across nearly all sectors of the economy, with construction, accommodation, and food services being hit the hardest. For small businesses, this is […]
When should your business be passed to the next generation?
You’ve spent a lifetime building up your family business, growing the company and creating a lasting legacy for your nearest and dearest. But all good things must come to an end, and at some point in the future you’ll need to hand the business over to the next generation. What are the signs that it’s […]
How to optimise your business: get proactive with your finances
Keeping on top of your finances is a critical part of keeping your business on track. But are you doing everything you can to optimise your financial management? In this blog post, we’ll look at some key ways to optimise your business, exploring different avenues to evolve your enterprise and create a legacy you can […]
Criminal Penalties for Wage Underpayment from 1 January 2025: What Businesses Need to Know
Starting 1 January 2025, intentional underpayment of wages or employee entitlements will become a criminal offence under new laws introduced by Fair Work. Employers found guilty of deliberate wage underpayment may face fines, prison time, or both. What does this mean for employers? The Fair Work Ombudsman (FWO) will investigate suspected underpayment offences and can […]
Accepting cash may become mandatory for Aussie businesses
Australia is fast heading towards becoming a cashless society. But there are still segments of society that rely on being able to pay in cash. With this in mind, the Federal Government is proposing new legislation that would make it compulsory for Aussie businesses to accept cash for groceries, fuel and other essentials. What’s the […]
Selling your Business: Getting a Good Deal
You’ve spent years growing your business and adding value to the company. Now it’s time to sell up, get a good deal and liquidise the equity you’ve had locked up in the business. Let’s look at some important ways to achieve the best possible deal for your business sale. Selling your business is generally the […]
