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 […]
ATO ramps up enforcement for businesses ignoring tax and super payments
The Australian Taxation Office (ATO) has announced a tougher approach to debt collection for businesses that continuously ignore payment reminders, with a focus on those who fail to pay tax and super obligations. In a recent statement, the ATO warned that businesses and directors unwilling to engage in resolving their debts will face heightened enforcement […]
Are you missing out on lost super?
The Australian Taxation Office (ATO) has revealed that there’s over $17.8 billion in lost and unclaimed superannuation waiting to be claimed by Australians. With over 7.1 million accounts holding forgotten or inactive funds, many Aussies could be missing out on a financial boost they’ve worked hard for. Here’s what you need to know about lost […]
Start Your Logbook Now – Don’t Wait Until the FBT Year Ends!
With always a million things to be done for your business, it’s easy to overlook one crucial task that can save you time and stress when the FBT (Fringe Benefits Tax) year comes to a close: your vehicle logbook. The 2025 FBT year ends on 31 March 2025, and if you need a new logbook, […]
Millions of landlords the target of expanded ATO crackdown
The Australian Taxation Office (ATO) has intensified its focus on the tax affairs of millions of landlords, targeting those who may be falsely claiming rental deductions or minimizing their capital gains tax (CGT) liabilities by inflating costs. This crackdown comes as the ATO expands its data matching program, now set to collect extensive property management […]
New invoicing in Xero begins 2nd September
Beginning the week of 2 September 2024 at 7am AEST, Xero is rolling out a major update that will see all users transitioning to their new invoicing system. This change will bring a more flexible, efficient, and customizable invoicing experience, with the classic version being retired on November 20, 2024. Here’s everything you need to […]