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News & Articles on Finance & Business, Accounting, Taxation, SMSF & more

A Problem Shared Is a Problem Halved

02/12/2016 by Lavina Webb Managing a business has always been challenging, and with every decade it seems that, along with the ever-present issues of cash flow, staffing, budgets and sales, some new torment arises. In the past 20 years, we have had the introduction of a GST (goods and services tax), in 2008 it was the global financial crisis, and now climate change is set to impact the economy in ways we can’t imagine. Relieve Stress by Seeking Outside Help

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Steer Clear of Tax Scams

The Australian Competition and Consumer Commission (ACCC) is urging Australians to hang up on and deleted tax scam emails after more than $1 million was reported lost to Scamwatch already this year, with over 300 people reporting that they lost money to tax scams in the first half of the year. These scams often use personal information found online and generally claim that you have underpaid you taxes and are required to repay the tax debt immediately or face frightening

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Changes to Annual Leave in Modern Awards

The Fair Work Commission (FWC) has varied some awards with new or changed terms about taking annual leave. Most changes take effect from 29 July 2016. There are changes to rules about: Cashing out annual leave; Taking annual leave in advance; Managing large (‘excessive’) annual leave balances; Payment for annual leave. Here is a summary of the changes below. Cashing out annual leave Most awards now allow employees to cash out annual leave, if they: Have at least 4 weeks

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Need Help With Your Business? Don’t Go It Alone!

Has there ever been a more difficult and volatile time to be running a business? Maybe and maybe not, if we take a look back over the last 100 years. A couple of world wars, the Great Depression, the deregulation of the Australian economy, the GFC, natural disasters, and now the technological revolution begs the question; is there ever a good time to be running a business? Out of Control Events Need a Cool Head None of these events was

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Extra Services Keep Your Clients Happy

In our digital world it is now possible for people to run successful businesses from any part of the world, providing goods and services to customers they only know by a username and email address. However, there are still many businesses where the personal touch is essential to developing the trust and confidence needed to build a long-term business relationship. The Extra Mile Equally important is being prepared to “go the extra mile”, to willingly under-promise and over-deliver. This is

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An Audit Is A Positive Experience That Could Save Your Business

Being invited into a business to perform an audit is always an interesting experience. Audits are not usually thought of as being exciting, but auditors have a window into all kinds of businesses. They see the internal workings of every industry, and this broad experience enhances their skills with every new audit they perform. So what exactly happens during an audit? In simple terms, an audit is the process of comparing what a management system should contain with what is

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