Australian SMEs and start-ups are increasingly taking advantage of the changing global economy and importing goods that may not be available locally or can be produced at a cheaper price overseas. While importing can be an excellent way to grow your business and keep production costs to a minimum, it is important for SMEs to […]
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 […]
Choosing a business structure is, well, tricky business. If you are thinking of starting a business, you should first weigh up the pros and cons of each business structure to figure out which one best suits your needs. This is an important step that shouldn’t be overlooked because it affects many aspects of your business […]
With the launch of its second co-investment fund, this month, Sydney Angels is seeking to raise between $10 and 20 million to invest in high-growth potential early-stage ventures. Sidecar Fund 2 follows the first Sidecar Fund, which Sydney Angels launched in 2012. Sidecar Fund 1 attracted $10 million in capital from outside investors, to invest […]
Starting your own business is an exciting venture, but your entrepreneurial dreams can quickly turn into a nightmare if you fail to consider critical legal issues. Start-ups and small businesses make legal mistakes all the time – some of which can be disastrous. By covering six of the most common mistakes made by business owners, this article […]
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 […]
Are you still paying your employees’ super contributions manually via cheque, EFT or BPAY directly to funds? If so, it’s likely you aren’t compliant with the new, compulsory standard for paying super – SuperStream. As part of SuperStream, you need to pay and report your employees’ superannuation contributions electronically; allowing payments to be tracked and […]
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). […]
Taxes are high in Australia. But when it comes to taxation policies, our government is too lenient on some large businesses and too hard on small business. Some large multi-national companies have been able to utilise tax structures that allow them to avoid paying their required tax in Australia, which has enabled them to lower their […]
The current federal government is more popular amongst SMEs than its predecessor but an increasing number of business owners are dissatisfied with the Coalition’s support, according to the latest MYOB Business Monitor The bi-annual national survey of over 1,000 SME operators revealed that since being elected to power in September 2013, the Coalition government has […]
