Get your cashflow under control: Five tips
No matter what type of business you run or what stage of the business life cycle you’re working through, the main issue that plagues small businesses is cashflow, cashflow and more cashflow. Keeping a...
View ArticleOpinion: How businesses can level the playing field, post-budget
After the Wayne Swan’s rhetoric on his Government being one for small and medium business, the Federal Budget delivered last week turned out to be remarkable in that if contains no new meaningful...
View ArticleHow to respond to an ATO Director Penalty Notice
With tax time approaching and the economy faltering, SMB owners need to be aware of their liabilities and duties in their role of company director. A struggling company can quickly become a serious...
View ArticleEOFY: Superannuation contribution changes are on their way
Thanks to changes outlined in the 2012/13 budget, business owners need to be aware of a number of superannuation contribution changes due to come into effect on July 1. Use this expert advice to ensure...
View ArticleEOFY: How to prepare for upcoming contractor payment changes
If you employ the services of any building and construction contractors, from 1 July the Australian Tax Office (ATO) will be adding some new reporting requirements. Here’s what the new obligation will...
View ArticleHow to manage your own accounts: Five steps
Working for yourself means not only do you need to market your products and services and bring in new business, but you also need to manage your own financial accounts. You have to keep on top of the...
View ArticleThe 110 things that need doing before tax year-end
With only a week and a half to go, time’s running out to get your year-end actions in order. If you’re unsure whether you’ve missed any EOFY opportunities, here are 110 ideas to help you ensure you’ve...
View ArticleA look at the business benefits of the humble budget
The word “budget” can evoke a range of different feelings: dread and disappointment or pride, a sense of direction and achievement. However you might feel about them, the truth of the matter is budgets...
View ArticleHow to be compliant this new financial year
Remember the changes announced in the Federal Budget in May? The beginning of the new financial year means that many of these measures have now commenced. While you’re probably across many of the...
View ArticleA 2-step method for claiming car expenses
Claiming car expenses can be minefield for some business owners, as deduction methods vary depending on your work situation. This simple two-part method will help you decode whether you can claim...
View ArticleHow to use superannuation to improve cashflow
They say there aren’t too many benefits of ageing, but a bit of nifty restructuring to reduce wages and increase cashflow in your business is one benefit not to be missed. The Income Tax Act allows for...
View ArticleA look at the real value of outsourcing
Outsourcing aspects of your business shouldn’t be seen as failure. Rather, procuring the help of people who are better at doing those jobs than you are could be the key to your success. If you were to...
View ArticleManaging cashflow with the right GST registration
To optimise cashflow management for small business, it is imperative that Goods and Services Tax (GST) registration suits the business operations. Recently I worked with a client and we reviewed the...
View ArticleAre your contracts leaking like an old tinny?
Have you completed your proper due diligence on your business contracts? It’s crucial to plug the holes in your business contracts before you find yourself sinking. I recently had the opportunity to...
View ArticleSelf managed superannuation – is it for you?
Most people know something about self managed super funds (SMSFs), the do-it-yourself version of compulsory superannuation. But for many people, the many benefits of SMSFs – as well as the potential...
View ArticleSMBs unaware of beneficial tax rebates
More than half of small and medium businesses are not aware of important changes to the instant asset write-off scheme, according to a recent poll. As of July 1, 2012, businesses are able to...
View ArticleWhy you should pay your invoices on time
Late payment is becoming an epidemic that is threatening the future of many small and medium sized organisations Australia wide. Australia often sees itself as an egalitarian society, the land of the...
View ArticleWhat the mid-year economic outlook means for business
As is now standard practice for our Federal Government, the Federal Treasurer has released the Mid-Year Economic and Fiscal Outlook (MYEFO) for 2012-2013. It won’t come as any great surprise to SME...
View ArticleTax incentives for research and development – another reason to innovate
Recently, the Australian government acknowledged the importance of innovation by offering a new research and development tax incentive for innovative businesses, which allows business owners to claim...
View ArticleFor business’ sake: The top three sacrifices SMB owners make
Dynamic Business is bringing you our top stories from 2012 over the break. Here’s a great lesson from June 20 on what sacrifices you might have to make as a business owner. Starting a business is often...
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