Cash Flow, Small Business, Taxation
Below are some examples to the different parts of the Federal Government Stimulus Package which will make it easier for you to understand how it all works: To read about the packages click HERE. 1. Boosting Cash Flow for Employers a) Sarah’s Construction Business Sarah owns and runs a building business in South Australia and employs 8 construction workers on average full-time weekly earnings, who each earn $89,730 per year.…
A great concern for small businesses at the moment is the impact the Coronavirus will have on small business and the community at large. The Australian government has therefore brought in various tax relief packages for small business. Below is details of the stage 1 package. Read about the stage 2 package HERE. Small Business Stimulus Package Here are details of how a small business can benefit from the stimulus…
Parliament has passed legislation to include GST in the Director Penalty Notice (DPN) Regime, and it comes into effect 1 April 2020. What is a Director Penalty Notice ( DPN) ? This is a letter from the Australian Tax Office sent to a company director making them up until now, personally liable for two types of tax debts of the company: PAYG Superannuation Now the ATO have added GST to…
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…
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 –…