Workers and employers are benefiting from the burgeoning gig economy in which people work part-time or on a project basis, often for a stable of employers. However, this is creating some uncertainty around whether people are independent contractors or employees, or a hybrid of both. A recent article in accountantsdaily highlighted this issue. Misinterpreting the arrangements can lead to inadvertent breaches of various legislation, as was demonstrated in the Fair…
Let me clarify the scenario: Mr Gump is not a business owner but an employee. He purchases a piece of land and then commissions a developer to build one or more residences on it, which he then immediately sells with the intention of making a profit. You might think that this is a private transaction and therefore has nothing to do with GST, but BE CAUTIOUS. Surprise Surprise! Regulation defines…
Did You Know That If You Sell a New Residential Property You May Have To Register For GST? Let me clarify the scenario: Mr Gump is not a business owner but an employee. He purchases a piece of land and then commissions a developer to build one or more residences on it, which he then immediately sells with the intention of making a profit. You might think that this is…
Cash Flow, Small Business, Xero
Did you know, that the latest Xero statistics show that a business who has online payment options attached to their sales invoices, collects their invoices 55% faster than without these services. Who doesn’t want to collect invoices faster? It is a no-brainer! There are a few systems out there that can assist with your collections, but below are two of our favourites.We strongly suggest you implement these. Enable your customers…
Below are 3 great books that we recommend, that will give you fantastic insights into business issues and the business journeys of the authors. Flying Solo Author: Robert Gerrish and Sam Leader Combining motivational and practical advice, this book explores the habits and behaviours of successful soloists, exploring some myths of marketing, time management and networking. Purchase from: flyingsolo.com.au/book The Accidental Entrepreneur – The Juicy Bits Author: Janine Allis –…
Being the owner of a small business is like driving through a forest. Unless you have driven the route previously, you need to travel very very carefully as you don’t know when the next sharp corner will appear. Imagine that you had a co driver who had driven on the road many times before, you would definitely travel much faster more confidently, as they would be warning you ahead of…