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The federal government recently announced changes aimed at closing loopholes in the Fair Work Act that allow for intentional underpayment of employee wages and entitlements. As an accounting and business advisory firm, we want to help our small to medium business clients understand how these changes could impact their operations. Key Changes to the Fair…
Are you tired of waiting for your business dream to take flight? A business loan could be your “plane” ticket, so to speak! Don’t let confusion or doubt about the business loan application process hold you back. In this guide, we’ll break down the four steps you need to take to become a prime candidate…
Just like choosing between a GP and a specialist depends on your ailment, picking between a tax accountant and a tax lawyer depends on your financial situation. Are you dealing with straightforward income and deductions, or are you wrestling with complex tax-related legal issues? This article will explore the unique skills and areas of expertise…
Just as you wouldn’t drive through unfamiliar terrain without a GPS, you shouldn’t navigate the rocky roads of taxation laws and obligations without the guidance of a tax agent! A tax agent is a certified professional who specialises in preparing, filing, and managing tax returns on your behalf. They understand tax laws, so they’ll keep…
Being unprepared for your tax agent at tax time can lead to delays, extra fees, and a whole lot of stress. Forget one essential document, and you can be back to square one! But there’s no need to worry; we’ve put together the ultimate checklist for what you should take to your accountant for a…
Did you know that 97.3% of businesses in Australia are small businesses? Small businesses are the unsung heroes of Australia’s economy, creating jobs and driving innovation in all communities. For your small business to thrive, knowing where to turn for financial support makes all the difference. So stick around as we guide you through the…
Could you build a structurally sound house without building plans? Impossible! The same goes for your building business- running a successful company without proper accounting is impossible! The construction industry contributed to 9% of all goods and services produced in Australia in 2022. This statistic highlights the industry’s significant role in the economy, meaning there’s…
Following the announcement of the state budget for 2023-2024, you’re probably trying to get your head around the amendments that are relevant to you. Here are the main points to note: Changes to the Land Tax Exemption for a Principal Place of Residence A minimum ownership requirement is going to come into effect so that…
Last July, over 22,000 Australian businesses received warnings from the Australian Taxation Office for having tax debt over $100,000 that is more than three months late. The ATO is on the hunt for a staggering $5 billion owed by businesses fitting this criteria. They’re setting a firm boundary to make things fair for everyone in…
As a restaurant owner, you want your financial records to be like a masterfully crafted, perfectly seasoned dish, with every number in its proper place and every expense accounted for. But let’s face it, in the fast-paced world of the culinary industry, your finances can sometimes look more like a chaotic kitchen after a Saturday…