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Should you engage contractors or hire staff? Do your due diligence or put yourself at risk
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 […]
Prepare or fall prey to the tax man: how to make sure your business is ready for 30 June
Are you across all of the changes and how they will affect your business before this financial year ends? As an owner of an SME, the onus is on you to make sure that your business is prepared. Here are my top tips to ensure you end the year on a positive note, rather than […]
3 important tax concessions for SMBs
Small businesses are the lifeblood of our economy, employing almost half of our nation’s total workforce. They deserve assistance in the battle to compete with large competitors and ecommerce stores.
What the mid-year economic outlook means for business
The Federal Treasurer has released the Mid-Year Economic and Fiscal Outlook (MYEFO) for 2012-2013, and it won’t come as any great surprise to SME owners that the economy, whilst not going backwards, is certainly not moving forwards as swiftly as the Treasurer would like. Here’s how the MYEFO announcement will impact small businesses over the foreseeable future.
Directors personally liable under new ATO legislation
When a company struggles, there are plenty of creditors knocking at the door. However new ATO legislation extends the personal liability of directors for unpaid super and PAYG for their staff, making them a priority in who gets paid first.
Federal Government simplifies reporting process
The Federal Government’s new Standard Business Reporting (SBR) reforms mean SMBs and accountants no longer need expensive software to report electronically, thanks to the implementation of cloud technology.
Issues facing businesses and investors at tax time
Like in the Amazing Race, we have entered the last leg and it’s now time to focus on your taxation obligations otherwise the ATO may eliminate you.