Articles

Penalty relief for taxpayers

From 1 July 2018, the Tax Office is advising Australians that if they find an error in their tax return or activity statement they will not incur a penalty but will advise of the error and how to get it right next time. Penalty relief will only apply to eligible...

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Bad business habits

When you run your own business, it can be hard to step back and look at the big picture. Failing to do so, however, not only harms your business; it can also make it even harder to sell. Whether it is failing to track cash flow or not investing correctly in key staff,...

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Beware common drawbacks of split testing

Businesses must be aware of the typical drawbacks associated with split testing if they are to improve the success rate of their email marketing campaigns. Split testing can provide businesses with valuable information that can improve email marketing campaigns, but...

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Building a solid startup

It is no secret that most startups will fail in their first three years of operation, so building a new business that can not only survive but thrive in the face of a challenge is of the utmost importance. Ensuring your business is strong enough to move past any...

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Hire a virtual assistant

For those entrepreneurs building a brand new startup, hiring a virtual assistant as their first employee is a perfect way to delegate work when you do not yet have the budget to hire full-time staff or rent office space. Having a virtual assistant on hand to complete...

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Personal Income Tax Plan passed

The Personal Income Tax Plan announced as part of this year’s Federal Budget has been passed by Parliament. The plan introduces: – a new low and middle-income tax offset to reduce the tax payable by low and middle-income earners in the 2018-19, 2019-20, 2020-2021 and...

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Simplifying your marketing

Overcomplicating your marketing efforts in a bid to increase awareness and boost sales is a common trap. As the marketing industry continues to overcrowd and evolve with technology, businesses need to look for ways to break through the noise and send their audiences a...

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Boost your business’ cash flow

Managing cash flow is the golden rule for most small business success. Too many small businesses fail due to poor cash flow management. To avoid getting your business into trouble, consider the following tips: Prepare a cash flow projection – Cash receipts, including...

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What is link building?

Link building is an SEO strategy that firms can use to improve their search engine ranking. It is a long-term and often time-consuming process of acquiring backlinks, also known as inbound links, from other websites to a firm’s website. Search engines use the number...

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Claiming clothing this tax time?

The Australian Tax Office (ATO) is cracking down on claims for work-related clothing and laundry expenses this tax time. Last year total claims for work-related clothing and laundry expenses totalled nearly $1.8 billion. The ATO has acknowledged that many of these...

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Why your staff may work better at home

Letting your employees work from home is a simple way to increase productivity levels and reduce expenditure within your business. However, choosing the amount of time an employee can work from home will depend upon the business you run. Whether you give them the...

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Sham Contracting: What you need to know

Employers who hire and treat an employee as a contractor could face serious penalties as well as claims for super contributions and worker entitlements. A sham contracting arrangement refers to an employer who deliberately attempts to disguise an employee relationship...

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Tips for sending out your first email campaign

Sending out an email campaign for the first time may seem a bit daunting to businesses who have never engaged in marketing before. But simply following best email marketing tips and practices can help businesses create successful email campaigns that keep readers...

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Preparing for tax time

With the end of the financial year fast approaching, preparing ahead will help to take off the pressure of running your business and organising your tax affairs this tax season. Business owners can benefit from gathering and sorting their records now, including cash,...

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Superannuation Guarantee Amnesty

In a bid to tackle non-payment of employee superannuation, the Minister for Revenue and Financial Services announced the beginning of a 12-month Superannuation Guarantee Amnesty (the Amnesty) on 24 May 2018. The Amnesty provides employers with a one-off chance to...

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Social media marketing trends

Social media platforms continually introduce new features and functions that change the way digital marketers create and distribute content. Maintaining awareness of popular social media trends helps to stay competitive and utilise trends to your business’ advantage....

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How to respond to employee mistakes

Even your most hardworking employees are bound to make a mistake on the job at some point. Their error may cost your business a client or damage a vital relationship with a supplier. How you manage your employee when they make a mistake can significantly impact your...

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Using visual content online

Publishing great content with the right amount of long-tail keywords and phrases can boost a business’ SEO ranking. However, the appeal of this kind of content may be lost on a business’ target audience if it is not visually appealing as well. Businesses who include...

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Targeted amendments to Division 7A

The Government is widening the scope of Division 7A to include unpaid present entitlements from 1 July 2019. This will apply where a related private company is entitled to a share of trust income as a beneficiary but has not been paid that amount (unpaid present...

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First Home Super Saver Scheme

The First Home Super Saver (FHSS) is a scheme that enables Australians to save for their first home inside their superannuation fund. The plan allows for faster saving with the before tax (concessional) treatment within super. The 2017-18 Budget allowed individuals to...

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Leading your team through tough times

Navigating your team through difficult times can be a challenge. When things continuously go wrong, and their motivation is at an all-time low, you will need to use your best leadership skills to guide them through. Consider these three tips on how to motivate your...

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Common mistakes businesses make on Facebook

Facebook is a convenient platform small businesses can use to promote their brand online and potentially gain new clients. It is essential to use it effectively to create a popular presence and build trust and customer loyalty. Otherwise, Facebook will merely become a...

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Trust Tax

Trusts evolved in England in response to representations for a Court of Chancery.  This court brought in a new doctrine of fairness called equity and established the concept of property being held on behalf of, or in trust for someone (e.g. a child), until they could...

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GST at settlement

As of 1 July 2018, purchasers of new residential premises or potential land are required to withhold an amount from the contract price and pay the amount to the ATO before settlement. A supplier (vendor, seller) of residential premises or potential residential land...

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Using storytelling to build your brand

Storytelling taps into your customers’ emotions, builds trust and can help form a stronger connection with your audience. Many businesses are now using their business’ story in their marketing efforts to engage their current customer base and attract new customers to...

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Content calendars for digital marketing

A content calendar is a handy tool you can use to organise and bring purpose to your digital marketing strategy. It allows you to visualise your strategy in weekly, monthly or yearly timelines, and plan content release around important dates and events that arise in...

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Employee perks every small business should offer

Providing perks to your employees is a great way to boost their morale and engagement in the workplace. While you may not have the budget to provide a free gym or an in-house chef, there are certain benefits you can give your staff that won’t break the bank. Free food...

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Pet Sitter Tax Tips

As a pet sitter in Australia, you need to be aware of any tax obligations you might have. The first issue you should consider is whether your pet sitting is a hobby or a business. If it’s a hobby, then you won’t have any tax payment or reporting obligations...

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Company Tax

For taxation purposes, a company is defined at section 995-1 of Income Tax Assessment Act 1997 (ITAA 1997) to include body corporates and any other unincorporated associations or bodies of persons. Partnerships are excluded from the definition. A company is a taxpayer...

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Lowering your website’s bounce rate

Businesses with high bounce rates are most likely attracting the wrong kind of traffic to their website. Bounce rates are a list of numbers that represent the percent of website visitors who leave a website quickly. Businesses wanting to target the right kind of...

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Handle customer complaints the right way

Complaints can happen to any small business, but how you and your staff choose to resolve them is essential to retaining your customers on a long-term basis. Take the complaint seriously. Thanks to social media, an unhappy customer has the power to voice their...

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Why social media is essential for small business

Social media marketing is simply, an effective and costless way to promote your business. The most consumed content is now online so as a savvy business owner it pays to know how to effectively reach your customers via social media. Social media provides a platform to...

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Budget 2018: building resilience

The 2018 Federal Budget is built on the back of a historically strong post-mining boom Australian economy, triggering fairly conservative changes to tax policy. The Budget’s strategy is to provide sustainable tax relief to those in the workforce, stimulating spending...

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Budget 2018: living longer

The Government is introducing a series of new measures designed to help Australians keep a greater portion of their superannuation savings pie. Insurance opt-in Insurance within super may not be suitable for everyone, particularly young people and those with low...

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Make your meetings more productive

Too often employees can walk out of a meeting feeling tired and frustrated; discussions have dragged on, and it seems like nothing is resolved. When an owner pulls their staff in for a meeting, they reduce the time available for employees to complete their tasks. So...

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Importance of a positive workplace

Employees play an essential role in the success or failure of a small business. Which is why creating a positive workplace environment for your staff is of the utmost importance. An environment that an employee enjoys working in each day improves their attitude,...

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Composing the perfect tweet

Twitter is one of the most effective ways a business can build website traffic through social marketing. Twitter is the social media platform for sharing and exchanging link content. Link ‘clicks’ are the most popular way for users to engage with content, accounting...

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Travel Tax Deductions

Employees’ travel expenses The Australian Taxation Office has issued draft taxation ruling TR 2017/D6 which discusses when deductions may be allowable for employees' travel expenses. The draft states a travel expense is an expense relating to:  transport (that is,...

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