The ATO has developed a new toolkit that helps small business owners to understand their entitlements and avoid mistakes in their tax returns. The 2019 Tax Time Toolkit Small Business covers information about: Three of the most common expenses: home-based business, motor vehicle, and business travel. Single Touch Payroll (STP) for small employers. These toolkits…
Although approximately 52% of the Australian population use social media, not everyone understands how online presence, both individual and work-related, reflects on a business. Your staff are representatives of your business meaning their online profiles can unintentionally affect your brand’s image and influence potential customers. While this isn’t always a bad thing, enforcing a social…
Managing cash flow is critical to the success of a small business. While it is necessary to be profitable, your profit is a number that shows up on your accounts at the end of the year whereas your cash is the money you have in the bank. In a small business, it is cash that…
The Australian Taxation Office (ATO) is warning taxpayers to keep an eye out for people posing as tax agents who are not registered with the Tax Practitioners Board (TPB). Only a registered tax agent can charge a fee to prepare and lodge your tax return. There are concerns from the ATO about the number of…
All businesses need to look at ways to increase the productivity of their staff. When your employees get more work done, it will ultimately lead to the business making a bigger profit. As well as increasing productivity, employers should also aim to improve the happiness and wellbeing of their workers. Here are some ways to…
Illegal early release of super (IER) is one of the risk areas that the ATO has identified as being of most concern and in need of action. Each year, the ATO analyses its data to identify the areas of high risk that will form part of its compliance program. Aside from illegal early release, another…
The workplace can be where you spend the majority of your time. Maintaining a positive and healthy environment while at work is therefore critical to your happiness and mental wellbeing. One of the key ways to ensure your workplace is healthy is by having strong relationships with your colleagues. Here are some simple ways you…
Business owners have a responsibility to look after their staff and ensure they have a healthy working environment. This extends to mental health as well as physical. With one in five people experiencing a mental health issue at some stage in their life, there is a greater need to have mental health support specifically within…