Keeping financial records up-to-date is a critical business practice that delivers a range of benefits, enhancing decision-making and promoting financial stability. Accurate records offer a clear view of cash flow, expenses, and profitability, empowering leaders to make data-driven choices that support growth. They also simplify tax preparation, ease audit processes, and improve budgeting, saving [...]
Outdated financial data can seriously jeopardise a business, leading to poor decisions, compliance risks, and missed opportunities. Without current information, companies may misjudge cash flow, overspend, or overlook cost-saving options, resulting in financial strain. In this article, we’ll explore the critical issues caused by outdated financial data and why keeping records current is essential [...]
In today’s fast-paced business environment, maintaining strong financial health is fundamental to achieving sustained growth and profitability. However, keeping financial data up to date can be challenging for many business owners who juggle numerous responsibilities each day. Yet, having real-time insights into your financial position is one of the most powerful tools to drive [...]
With the federal election delivering a Liberal National Coalition government for the next 3 years (based on recent history we will perhaps refrain from suggesting that Scott Morrison will be the Prime Minister for the next 3 years!) business and individuals alike have some clarity on the nature of the tax and business landscape ahead. [...]
Last week saw the Government bring down the budget which was conspicuously light on significant tax changes. Shortly after we saw the Opposition’s response and this year we listened with keen interest as it provides the small business community insight into the environment that may lie ahead depending on the election outcome. This article [...]
Single Touch Payroll (STP) was introduced from 1 July 2018 for businesses with 20 or more employees. On 5 December 2018 the senate passed the Bill which extends STP to employers with 19 or fewer employees from 1 July 2019. Author Claire Roberts So what does this mean [...]
Just 12 months after its introduction, the Foreign Resident CGT Withholding Tax Regime (FRWT Regime) was amended and from 1 July 2017 any property transaction with a sale value of $750,000 or more is affected; additionally, the withholding rate was increased from 10% to 12.5%. Author Claire Roberts [...]
