Accounting
Three months after the 2015 Budget announced a $20,000 tax break to small businesses, Tim Reed, CEO of MYOB, provider of business management solutions, shares his professional view with Dynamic Business on the effect these budget measures can have on the Australian small business community. Commenting on the $20,000 tax break, Mr Reed said “small […]
Instead of just complying with the fringe benefits tax legislation, why not use it to your advantage? Salary packaging can maximise take-home pay and attract talent. Could salary packaging be a cost-effective way to attract and retain talent? By combining cash salary with other benefits, organisations have greater flexibility to negotiate remuneration, but that’s just one […]
Business travel can turn complicated if it’s not well managed, specially when it comes to travel expenses and making sure these are under control and within budget. In the last few weeks, we’ve seen even the government struggle to manage politicians’ travel expenses. The reality is, today there is technology available that makes it easy […]
A survey involving more than 400 practices across Australia shows that accounting firms are embracing cloud technology for themselves and clients. According to The Cloud Readiness Survey from Digital First, 43 per cent of accounting practices are anticipating a shift to cloud software in the next 12 months. The survey revealed that accounting firms understood […]
According to national SME finance specialist, Scottish Pacific, many small businesses may be using the Australian Tax Office (ATO) as a line of credit being unaware of alternative funding solutions. Scottish Pacific CEO, Peter Langham said the ATO was owed $35.3 billion in 2013-14 according to a recent report by the Inspector-General of Taxation. “It […]
Part of our role as small business accountants is to act as a barrier or intermediary between the tax office and the small businesses of Australia. It’s not that we don’t trust the two different interests to get along but it’s more about using our experience and knowledge to protect the best interests of the […]
As your small business expands, you may want to look into new accounting software to keep up with the growing number of invoices, bank transactions and other everyday accounting tasks you are bound to face. But most accounting software in the market includes features you won’t need or ever use.
An individual earns income, pays income tax and then pays expenses with what’s left. A business basically pays for expenses with pre-tax dollars whereas an individual pays expenses with post-tax dollars.
If IT isn’t your area of expertise, Citrix understands that re-thinking the way you operate can be a daunting process. What data should you host, what market offerings are the best, and how can you be sure that your corporate information will be safe in this new environment?
Advances in technology and cloud computing have made working from anywhere possible. Recent tax amendments in the latest federal budget have also incentivised this, allowing businesses to give their staff all the equipment they need to be truly mobile.
As easy as it might be now to juggle a full-time job and work as a freelance writer in your spare time, you may not have considered the tax implications – a mistake that can leave you out of pocket for several thousands of dollars when your tax bill comes in.
Three-quarters of small business employees, and not to mention the majority of freelancers, maintain an office in their home. But a proper workspace at home doesn’t come cheap.
With the end of the financial year behind us now is the time of year to come up with resolutions, especially for small to medium sized enterprises.
Three measures aimed at supporting small business were introduced yesterday as part of the Government’s $5.5. billion Jobs and Small Business package.
As 30 June looms once again, the more than 2 million small businesses across Australia are going through multiple receipts reviewing what can and can’t be claimed to lower their impending tax bill.
The recent budget has given small businesses a lot to think about, and it’s no wonder some are struggling to prioritise what needs to be done in the next couple of weeks.
While the $5.5 billion package has been well received, the questions facing Australia’s two million-plus small business owners are two-fold: what does it mean for me and what to do with the incentive?
Sage One is aiming to disrupt the cloud accounting market with a competitive solution aimed at Australia’s small businesses and accountants.
It’s crucial small business owners use this time to take stock and analyse the business to try and find small opportunities or improvements that could be made, and make a strong plan for the year ahead.
With the End Of The Financial Year on the not so distant horizon, it’s a good time to organise your financial affairs and assess whether your investments are structured to give yourself the best tax advantage.
