Wednesday, 6 September 2017 Source: ATO Following a five-year rollout, superannuation members are now receiving an estimated $2.4 billion per year in savings thanks to SuperStream. SuperStream is one of the largest ever changes to Australia’s financial system, with an estimated investment across the industry of $1.5 billion. More than one million businesses have been involved […]
The question many business owners face is whether to use contractors and freelance workers or to hire staff. There are obviously a number of factors to weigh up before making a decision either way, but with the rise of the sharing economy, businesses are presented with a wide range of employment options, no matter what […]
There has been a lot of talk about changes to credit card rewards programs in 2017. You might even have received a notification from your bank recently about how your rewards program is about to change. This is because of new interchange fee regulations that rolled out from 1 July 2017. In 2016, the Reserve […]
With the end of the financial year almost upon us, now is the time to make the most of your tax planning. If you are like most business owners, chances are you are putting off thinking about your tax until after 30 June. However, you MUST act now. If you wait until after 30 June, […]
CreditorWatch recorded a 42% increase in its customer base over two years on the way to reaching a major growth milestone, this month: 50,000 customers. Founder and managing director Colin Porter spoke to Dynamic Business about the genesis, success and future of the credit reporting bureau, which launched six years ago. DB: What was your […]
When was the last time you reviewed your business? Every owner should conduct an extensive review at least once a year to stay on track. It doesn’t matter if you’re running a small firm or a large corporation – every business benefits from a solid plan of attack. Annual reviews allow you to evaluate what […]
Senator Eric Abetz has recommended the federal government return small business to the cabinet and place the portfolio in the hands of Liberals. In an address to the Young Liberal Federal Convention, last weekend, the former minister warned that “too much red tape, too much taxation and oppressive regulations” barred small businesses from fulfilling their […]
Businesses with 19 or fewer employees have less than two weeks to transition to SuperStream – the new, mandatory electronic standard for paying superannuation contributions. “The Australian Taxation Office (ATO) is pleased that more than 75 per cent of small businesses are already SuperStream compliant however, there is still a way to go to ensure […]
The Federal Government’s Public Data Policy Statement, released last December, flagged its commitment to make non-sensitive government data ‘open by default’, with the aim being to stimulate innovation and drive productivity improvements across all sectors of the economy. Nearly a year on, a slice of data with huge potential benefits for the small business community, if […]
It’s that time of year again: tax time. When the challenge of filing personal taxes is compounded by the need to sift through work-related travel expenses, it’s no wonder many workers would rather visit the dentist. Knowing how to file business travel expenses can be one of the most confusing areas when submitting expenses to the Australian Taxation Office (ATO). […]
