Use the new financial year to get your tax habits in order !

A recent Xero survey found that three-quarters of Australian small businesses still store their receipts in shoeboxes and that can add up to 5,200 invoices a year – signaling the need for business owners to consider automation to pave way for better tax habits. There’s no reason why the “New Year, New Me” mantra shouldn’tContinue reading “Use the new financial year to get your tax habits in order !”

Tips on getting paid faster….

Earlier this month some of my expert tips on getting paid faster were featured in an article written by Cathy Anderson from Huffington Post. Cathy liked them so much she immediately implemented them in her own small business…. I confess I've started following @JamesSolomonsCA's advice to keep a tight accounting ship with @gingerbcontent. https://t.co/GnwnuAWxXBContinue reading “Tips on getting paid faster….”

Using the new financial year to help your business get ahead

The new financial year is the perfect time to reset, re-evaluate and prepare for the year ahead. As a business, you would have recently closed off your books for the last financial year so most of what you need to know about your business is readily available to you. You’re in a great position toContinue reading “Using the new financial year to help your business get ahead”

Five resolutions to kick off the new financial year

Cloud software can help you track which customer segments are spending most, influencing where your marketing focus should be as you expand in the new financial year. The flurry of activity that is EOFY should have died down by now, making it the ideal time for small-business owners to take a retrospective look at howContinue reading “Five resolutions to kick off the new financial year”

Maximising the value of doing a stocktake to reduce your tax

Keeping track of trading stock is a vital part of running any small business day to day, but it becomes particularly important during tax time. Most people aren’t aware that damaged or outdated stock at the back of your storeroom might actually be worth something. And that by doing a stocktake, you can deduct theContinue reading “Maximising the value of doing a stocktake to reduce your tax”

EOFY: Understanding your accounting needs and planning for the year ahead

The end of the financial year can often be a busy time for small business owners. All your business accounting needs to be finalised, tax returns need to be completed and submitted, and planning for the year ahead needs to be done. It’s not all bad news however, as tax time is the perfect opportunityContinue reading “EOFY: Understanding your accounting needs and planning for the year ahead”

EOFY Making the most of the government’s small business tax custs

The 2016 federal budget gave small businesses a reason to be excited about the end of the financial year – a company tax cut to 27.5% with the threshold lifted to include businesses with less than $10 million turnover (up from $2 million). For profitable small businesses, that’s potentially thousands of extra dollars each yearContinue reading “EOFY Making the most of the government’s small business tax custs”