Category: News
As the economic landscape changes, it’s important to regularly review your business plan to discover whether it still works for your business given the internal and external changes that are bound to have occurred. The start of the year is a great time to review your business’s direction and goals. We’ve put together a listRead More »
For small businesses, other than the retail and tourism sectors, Christmas can really test the cash flow. Not only because we’re constantly spending on presents, food, festivities and holidays, but also because work slows down for a lot of industries round mid December and doesn’t start to pick up until February/March the following year. IsRead More »
In general, no! You can’t use expenses from entertainment as an income tax deduction. There are some exceptions, mostly around food expenses for meal allowances and incidentals relating to business travel and overtime etc., but otherwise entertainment, even specifically for business purposes, is not deductible unless you decide to classify the expense as a fringe benefit. ‘Entertainment’ accordingRead More »
Tom Betts, PPSR Asset Protection You think your business, its assets and loan accounts are as safe as they can be? Think again. More than 85 percent of small businesses have not used the federal government’s PPSR (Personal Property Security Register) since it was introduced in 2012 and many businesses have never even heard ofRead More »
Paulette McCormack Fresh HR Insights If you can prove that a redundancy is genuine, you will have access to the genuine redundancy exemption. Definition: Genuine Redundancy Exemption The genuine redundancy exemption is when employers are exempt from unfair dismissal laws because the dismissal was a genuine redundancy. Under the FW Act, a genuine redundancy willRead More »
With the close of the 2015/16 Financial Year and the Coalition forming government for another term, we thought it an ideal time to take a look at what the recent budget means for small business and individuals. Key changes for individuals The second-highest marginal tax bracket threshold has been increased from $80,001 to $87,001 toRead More »