With Christmas approaching fast, Brad Callaughan looks at the Fringe Benefit Taxes payable on gifts to employees, suppliers and clients.
“Fringe Benefits Tax is a tricky subject, and if not understood and addressed before you spend that money it could leave you a large hole in your pocket from the FBT payable.”
The first full cloud outsourced accounting department for SMEs has officially launched, with AccountsTeam giving small businesses access to services and experience traditionally only available to large corporations.
The Commonwealth Bank (CBA) has rolled out its Everyday Settlement feature, designed to give businesses instant access to funds from their merchant terminals.
Business defaults hit their second highest rate in September for eight years, leading experts to warn SMEs to be on top of their accounts receivable as Christmas approaches and cashflow worsens.
Local business owners are feeling pessimistic about seeing revenue rises during the upcoming Christmas season, as many express doubt the economy will improve any time soon.
Julian Smith blogs about how vital it is for a business to have money in the bank.
“While Aussie businesses are definitely starting to get the right attitude, we’ve got a lot of ground to make up. Post GFC, the average small business owner is saving $1.27 for every dollar spent – but there are still many who don’t have any savings to fall back on at all.”
Business owners are invited to get the low down on cashflow at two free Small Business September seminars, as business bad debt continues to rise to worrying levels.
Business confidence is being further battered thanks to a 40 percent rise in business-to-business bad debt claims and increasing payment terms, leading experts to urge SMBs to better manage their cashflow.
Figures released by Dun & Bradstreet this week showed 3,000 businesses collapsed in the June quarter, leading experts to urge SMEs to focus on fixing cashflow or risk becoming part of these statistics.
As local businesses face continued difficult economic times, an increasing number are seeking online solutions for managing their customer relationships and cashflow – a trend that’s seen software development and direct debit payment processing company Debitsuccess enjoy a 25 percent revenue jump.
