Annual Reporting: Much more than just a numbers game

I realise that, for the non-financially-minded, an annual report may not seem like the most exciting read – but I’m keen to quash that myth. Because, although I’m a numbers man, I believe the real value of an annual report is far from just the figures…it’s about the opportunity it offers organisations to reflect on the last financial year, consider its impact on where they are now, and look to the future of the business.

As you might have guessed, we’ve just released the 2017 Xref annual report. These documents always take a lot of work to produce. Many members of the team are needed in order to get it right and, as I mentioned to my Xref colleagues, its completion always warrants a little happy dance – which you’ll be glad to hear I’ve done.

But that celebration isn’t just in light of the report going live – pulling it together has shown us that Xref has a lot to celebrate.

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Featured – Tax return tips: Financial expert gives saving advice

With the end of the financial year just around the corner, an accounting expert has compiled a list of secret ways you can save money on your tax return.

James Solomons, head of accounting at Xero, said small business owners in Australia could potentially claim dogs, sunscreen and handbags as tax-deductible expenses.

‘If you have a dog that safeguards your small-business site, you can claim food, vet bills and the cost of buying the animal,’ Mr Solomons told news.com.au.

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Immediate reflections on my CEO Sleepout Experience…..

Back at the office after a tough night sleeping without a roof over my head on the SCG turf. Even in an environment safe from the threat of being bashed and robbed it was impossible to get any real sleep. But this experience would not compare to what 105,000 people in Australia go through every night, including 17,000 kids under the age of 12. 
I have been so lucky in my life to have been helped by so many people to get to where I am today. A beautiful family, nice house, nice car, good education, a steady income and great people to work with everyday. Some however, from decisions they make themselves or from circumstances out of their control are not so lucky. 
When I tuck my kids into bed tonight and then later on kiss my wife goodnight and tell her I love her, then rest my head on my own pillow and try to drift off to sleep I will not be able to shake the fact that so many adults and kids in Australia will be searching for a place to curl up for the night, hoping to make it through the cold and to not be preyed upon while they sleep. 
As a society we have a responsibility to not only help those in need but to protect them when they are unable to do so themselves, regardless of the reason. Where the system fails, the rest of us need to step in.
You can still donate and I urge you to do so to help Vinnies continue the great work that they do. 
https://www.ceosleepout.org.au/ceos/nsw-ceos/james-solomons/

#CEOSleepoutAU

Eight secret tax hacks for small business

A LOT of little deductions can add up to a big refund. Here are some commonly overlooked ones — even your dog could be deductible.

https://www.news.com.au/finance/money/tax/eight-secret-tax-hacks-for-small-business/news-story/4edc8edc6c9bccae126441516f8fe860#bottom-share

A LOT of little deductions can add up to a big refund. My article which syndicated across the News.Com group in June 2017

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Embracing Change For Start-up Success

It’s human nature to dislike change. If it ain’t broke, don’t fix it – right? Why disrupt a process, or do things differently?

Usually the answer is that the process is, in fact, broken – or could be massively improved – but we’ve become too complacent to notice.

This is particularly apparent to start-ups providing a service to enterprise customers. Unlike the nimble, adaptable start-up themselves – or SMEs that can react with agility – large enterprises with multiple decision-makers are typically more change-averse simply because of their size and scale. Despite the fact that technological evolution is inevitable, and new technologies are becoming quicker and easier to implement, the process of integrating new solutions is still a risk for large organisations.

So as an enterprise start-up, how do you break through?

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