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Using LinkedIn to boost your business

LinkedIn can be a valuable networking tool for business owners and job seekers. Use the site to increase brand awareness, attract top talent, acquire new customers, promote events, and engage with influencers in your industry.

Here are five basic ways to use LinkedIn to create a business advantage:

1. Create a company page.
Help potential and existing customers and team members learn about your bus read more...

5 key things to get right when starting a business

Starting your own business is a BIG leap of faith. Will you find any customers? Will you make enough income? These are questions that any founder will ask themselves.

But with the right planning, preparation and support, you can set the best possible foundations for your new enterprise, and take some of the guesswork out of becoming a business owner.

Building the right foundations

So, if you&rsqu

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Laundry and clothing expenses

Continuing its focus in recent years on work-related expenses, this Tax Time the ATO says it will target false clothing and laundry work-related expense claims.

In 2018 alone, more than 6 million people claimed work-related clothing and laundry expenses totalling nearly $1.5 billion.

ATO Assistant Commissioner Karen Foat said while many Australians can claim clothing

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Prepare for Finalising 2019 in Single Touch Payroll

If you are already reporting Single Touch Payroll (STP) to the ATO, there is a different process for issuing payment summaries from now on.

Employers must provide payment summaries to employees by 14 July. In the STP reporting system, employers must make a finalisation declaration by this date, in order that the employee’s information will be released in their myGov account and listed as &ls

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What does an accountant do?

The best accountants can do much more than just tax and compliance work for your business. They’re troubleshooters and strategic advisors for small business. Basically, having an accountant means that you can operate your business with more clarity and confidence.

Whether you’re working to get a startup off the ground, or taking the reins of an established business, you’ll see va

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The Five A’s of Change - a process to achieve continuous improvement

Whether it’s a new focus, a new venture or a new year, consciously recognising the process required to change can vastly improve your outcome.

The Five A's of Change breaks it down simply:

1. Awareness.
First we must be aware of what needs to change. Perhaps we want to work smarter, not harder, so we can have more family time and better financial returns.

2. Acceptance.
We have to accept that


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Creating a small business budget

Small business budgets are empowering. They give you the knowledge and insight to eliminate wasteful spending and get to profitability faster.

When setting a business budget, you need good numbers. Don’t guess at what’s coming in and what’s going out. You could be making assumptions that just aren’t true. Take the time to look into your accounts and dig out the real figures

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Taking the pain out of pricing - how much should you charge?

Figuring out how much to charge is a big learning curve for any business owner. The answer to how to approach it will fluctuate as circumstances and markets change. It is important to revisit the question throughout the lifecycle of your business.

There is no magic formula

All businesses are unique, with an individual offering of products and services. Before you set your pricing, It’s impor

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Is your business attracting the right talent?

When people talk about ‘brand’ they often think solely from a customer perspective. However, a strong 'employer brand' is also critical, in order to attract the right talent to your business. A company’s employer brand is twice as likely to drive job consideration as its company brand. With a shift in skill-set requirements across most industries, and Gen Y entering the workforce,

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Cryptocurrency Owners

Cryptocurrency owners and traders are required to maintain records in relation to their holdings including records relating to the purchase, sale and transfer of cryptocurrency.

The Australian Taxation Office (ATO) will collect data from cryptocurrency designated service providers, under notice, to identify individuals or businesses who have or may be engaged in buying, selling or transferring cry

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What is employee engagement and why does it matter?

An engaged employee is a team member who is fully absorbed by and enthusiastic about their work, and who takes positive action to further a company’s reputation and interests and achieve their goals.

More importantly, what does a disengaged team member look like?
The symptoms range from a negative attitude, poor communication, absenteeism, lack of initiative, laziness, lateness, lack of part read more...

Your Fringe Benefits Tax Return is due soon

If you are lodging your own fringe benefits tax (FBT) return, you need to lodge and pay by the 21st of May. If we are lodging on your behalf, your due date is not until the 25th of June.

Even if you have been paying FBT instalments on your quarterly BAS, we still need to complete and lodge the annual return to assess whether you have paid too much or too little throughout the year.

If you have not

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Funding is the key to your growth plans

Sourcing the right funding for your business can be the first step in achieving your growth goals, or the helping hand you need when you’re in a cash flow hole.

Cash is king when it comes to funding your growth plan. But with the funding market now bursting with a huge choice of traditional and alternative finance providers, knowing what type of finance to opt for, and from which provider,

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Superannuation Guarantee Amnesty will not proceed

The Government’s proposed Superannuation Guarantee (SG) Amnesty will not proceed. To recap, the SG amnesty was to be available for the 12-month period from 24 May 2018 to 23 May 2019. To get the benefits of the Amnesty (set out below) employers must have during this 12-month period voluntarily disclosed any SG underpayments that existed in the past (going as far back to when SG commenced in

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Instant asset write-off changes

In the Budget on Tuesday, the Government announced that it would increase the instant asset write-off threshold to $30,000 and extend it to medium sized businesses with annual turnover of less than $50 million.

The amendments mean there will be three tiers in the 2018/2019 financial year:

1. $20,000 threshold for depreciable assets that are acquired and installed ready for use before 29 January 201

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Set your business up for success with the right structure

The structure of your new business has repercussions in terms of tax, costs and the protection of your assets. When you decide on what structure you’ll use, keep in mind your future plans, because this may impact your decision.

There are three main structures you could consider.

Sole trader:

If you’re operating on your own, this may seem an obvious choice. It’s a quick one to se

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GST and BAS tips

Get on top of your record keeping early and be better prepared for lodging your BAS ‒ it can help manage your cash flow and get you your refund faster.

Keep your business on track with these GST and BAS tips:

  1. Keep all of the records you use to prepare your BAS. Generally, these records must be kept for five years.
  2. Only claim GST credits for business purchases that include GST in the sale price
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Have you declared all your business income?

When meeting with accountant or sending us in your tax information here are some questions for you to consider when declaring income.

Did you:

  • receive any cash payments?
  • earn income through coupons, vouchers or gift cards?
  • receive income from other activities such as rent from business assets?
  • receive bank interest or money from other investments?
  • receive directors' fees, dividends or franking cre
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Conducting successful performance reviews

Your staff are the backbone of your business, and their success is going to help your business succeed. An important, but often-overlooked part of this is holding regular performance reviews.

Rather than being an administrative drag, or something that you or your staff members dread, performance reviews can be a really valuable and constructive process. They can enhance your relationships with em

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What you need to consider before you take your business overseas

A globalised and digitally connected world means that your business isn’t restricted to one country. Expanding your business overseas gives you access to new audiences and a little protection should anything happen to destabilise your home market.

But, as with all things in business, proceed with caution. While the saying ‘no risk, no reward’ holds true, it’s important to

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6 ways to measure the health of your business

When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Knowing where you’re allows for more effective planning, early warning about any issues, and the chance to better chart a course for success.

There are some quick ratios that will help you in o

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The weakest link: Why security is everyone’s responsibility

For many of us, the internet is not just an intrinsic part of our lives, it’s integral to how we do business. It enables businesses to connect to global markets and complete transactions in minutes.

As we take advantage of the opportunities the internet has to offer, online security becomes a priority. This means being vigilant about keeping sensitive data and information secure from hacker

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Here’s how to better understand your risk profile

Whether you’re getting into investing for the first time, or looking at how you might expand your existing investment portfolio, it’s important to understand your risk profile. Once you have this key insight, discovering the kinds of investment that will help you meet your goals will be more straightforward.

What is investment risk?

The risk when you make any investment is that you wo

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Have you got your super sorted?

When you’re employed, your employer makes compulsory contributions to your superannuation. When you work for yourself as a sole trader, or you’re in a partnership, making super payments isn’t mandatory. But, it’s still an important thing to consider.

Retirement savings contributions are there to set you up in retirement. Generally, investing money into super will give you

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Remote work is on the rise - here’s what you need to know

Remote working has become more and more common as developments in technology have allowed us to communicate and collaborate no matter where we are. In fact, most of us are already logging on from home or holiday already. In May 2018, Swiss serviced office provider IWG released a study that found that 70% of professionals work remotely at least once a week.

Sometimes called ‘telecommuting&rs

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What to Consider When Buying an Investment Property

Keen to get into the property market as an investor? Before you start looking, you need to understand that what you’re looking for in a house, that you would occupy, might be different to an investment property.

When you’re hunting for an investment property, rather than looking for features specific to your needs; like commute times or how much you like the kitchen, you’re goin

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How to Plan For a Holiday From Your Small Business

Whether you’re heading into a holiday period, or just planning to take a break (and congratulations, because a healthy business means work-life balance), it’s important to keep your cashflow under control. This means pre-planning and being proactive.

When you’re not in the office, there are still overheads and salaries that need to be sorted. If taking time off means t

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Proposed Superannuation Guarantee Amnesty

The Superannuation Guarantee Amnesty legislation has failed to pass the Senate into law. With Parliament not scheduled to sit again until February 2019 and the Federal Opposition opposed to the Amnesty, the fate of the legislation is still very much up in the air.

Under the current law, if you've missed a payment or haven’t paid an employees' super on time, you are required to lodge an SG cha

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The Top 10 Time Wasters In Your Working Week

There are 1,440 minutes in a day and each of us have the same allocated amount. Some people manage to achieve much more than others. So, how can we free up time to help lead a better business and ultimately a happier life?

The top 10 time wasters:

1. Lack of clear goals. Planning and setting SMART goals provides clarity. SMART = Specific, Measurable, Attainable or Achievable, and most import

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Charitable donations may be tax deductible - here’s what you need to know

Donating to charity not only supports the vital work of an organisation or group, but it can have positive side-effects when it comes to claiming tax deductions. To be eligible for a tax credit, you need to make sure that your contributions meet certain conditions, and that you’re making a legitimate claim.

In general, when a charity is an approved donee organisation or registered

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Are you a Slave to Your Business?

Your business is there to serve you; not the other way around. In other words; you should never be a slave to your business.

Being a slave implies a victim mentality - that the world has simply dealt you a bad hand, that you have no say in the matter. Perhaps you hear yourself thinking you’re a slave to your business because your clients need you, or your team can’t cope without you,

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Have You Explored Deep Work?

Think about a typical day in your office...

Perhaps you chat with colleagues, check email, return phone calls, open a work file, check email again – which leads you to your social media feed… A universe of beeps, rings and pings beckons attention and steals productivity. Distraction is the new normal. The culprit: technology.

Multi-tasking is a misnomer because research shows doing t

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