fbpx
Accounting
  • July 2 2019 60% of small businesses shut down within first 3 years: H&R Block has ‘Grants for Growth’ to stop it

    With more than 60% [1] of small businesses shutting down within their first three years, Australia’s leading tax accountants, H&R Block are offering small business and start-up’s a helping hand with the initiative; ’Grants for Growth’.  Now in its second year, the grant offers support to budding entrepreneurs who need an extra boost to transform Read More…

  • July 1 2019 Happy new financial year! A small business guide to the tax changes

    By Matthew Prouse, Head of Industry, Xero Australia New financial year, new obligations and opportunities… If you’re like most small business owners, you’re probably focused on closing out the 2018-19 financial year. But it’s worth taking a moment to consider the year ahead too. There are new regulations to be aware of in 2019-20 – Read More…

  • July 1 2019 Why document management is critical for small business growth

    Byline: Scott Crosby, CEO, Upstream The merit in going paperless for small and medium businesses (SMBs) is clear: digitally stored documents, information, and files save businesses time, money, and resources. SMBs are increasingly taking up document management technology to better manage their finances, customer data, and employee details, leaving behind the physical paperwork proven to hold Read More…

  • June 18 2019 Are you making any of these 7 mistakes when hiring payroll staff?

    By Tracy Angwin, CEO and payroll expert at Australian Payroll Association Are you looking to hire new payroll people? Payroll staff are an integral part of any organisation, whether it be in a finance or HR capacity. However, the reality is that it’s a specialist set of knowledge and skills that are unique to the Read More…

  • June 12 2019 How SMEs can turn tax time into an opportunity to grow

    Many small business owners see the end of the financial year (EOFY) as a busy time during which they need to prepare tax returns for the business and group certificates for employees, as well as finalise sales, do stocktakes, and ensure all financial recordkeeping is in order. The thought of adding another task to that Read More…

  • June 4 2019 The Australian Tax Office hotspots 2019 – do they apply to you?

    Byline: Mark Chapman, the Director of Tax Communications at H&R Block. Every Tax Time, the ATO focusses on certain hotspots where taxpayers are prone – either accidentally or deliberately – to make errors. These are the areas it will concentrate its audit firepower on and for those who have made claims in areas which the Read More…

  • May 31 2019 Why do major companies keep getting caught in employee underpayment scandals?

    Every few months sees a major employee underpayment scandal – companies announcing that they have made payroll errors that have impacted thousands of employees – go public. Examples are the $43 million error by Rebel Sport this year, the $2 million error by Lush Cosmetics last year, the $1 million in underpayments by Maurice Blackburn Read More…

  • May 27 2019 What are your obligations if an employee is sick during their annual leave?

    When most people think of taking annual leave, they don’t anticipate spending that time either sick in bed or in hospital with a family member. However, the reality is that unforeseeable events can occur and potentially derail an intended vacation or any leave plans. So, what are an employer’s obligations if their employees get sick Read More…

  • May 23 2019 $30k Asset Write-Off up for grabs for next month: is your business eligible?

    With the end of financial year fast approaching, small and medium-sized businesses are being reminded they could be eligible for an instant asset write-off of up to $30,000. The Federal Government boosted the threshold on the Instant Asset Write-off Scheme last month, in a move designed to stimulate growth for small and medium-sized business. The Read More…

  • May 10 2019 Employers can help stamp out predatory lending

    This year we have seen a significant power shift for consumers, with the government investing heavily in heightened financial protections. Through thorough reviews of bank reforms and consumer lending policies, control is slowly being readjusted back into the hands of the Aussie public. In fact, the 2019 Coalition government’s budget pledged $640 million to continue Read More…

  • May 9 2019 What Single Touch Payroll means for your employees

    Have you taken the next step and started reporting through Single Touch Payroll (STP)? Employers with 20 or more employees should have already started reporting their employees’ salaries and wages, pay as you go withholding and superannuation information to the ATO through an STP-enable payroll solution. If your business employs 19 or fewer employees, you Read More…

  • May 9 2019 Australian small businesses losing $5.8 billion each year

    Insufficient cash flow means lost opportunities  Australian small businesses have lost opportunities worth an estimated $5.8 billion due to insufficient cash flow1 Nearly half (46 per cent) of Australian small business owners have been at risk of being unable to pay their employees1 More than a quarter (26 per cent) of Australian small businesses that Read More…

  • May 6 2019 Admin ‘killing the dream’ of Australian Small Businesses

    Research reveals financial and emotional burden of administration on small businesses ahead of new Single Touch Payroll reporting regulation Australian small businesses estimated to collectively spend over $20B a year on admin and payroll Half of small business owners also willing to sacrifice wellbeing Reckon launches hub to help small business owners get ‘in the Read More…

  • April 23 2019 National research reveals SMEs’ top five funding frustrations

    Around 9 out of 10 Australian SMEs are frustrated about their business funding, naming onerous loan conditions, having to provide property security and a lack of flexibility as their major concerns. These are the findings of the latest SME Growth Index, conducted independently by banking market analysts East & Partners, on behalf of national working capital Read More…

  • April 23 2019 How to avoid fake invoice scams 

    Cybercriminals are targeting businesses with a new scam that uses fake invoices to trick the business into paying money to the scammer. The invoices look legitimate and are often sent from a legitimate-looking email address, making it difficult for busy finance teams to spot the fakes.  According to the ACCC’s Scamwatch, Australian businesses lost $2.8 Read More…