Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Melbourne’s Lockdown Lifted Lockdown in Melbourne was lifted on 11 June, but restrictions remain in place including a mandate to wear face masks at all times outside the home, limiting travel to within 25 km, and preventing some businesses from operating. Although restrictions have been eased further in regional…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Melbourne’s 2-Week Lockdown to ease on 10 June with some restrictions to remain Melbourne will emerge from a two-week lockdown at 11:59 pm on 10 June, after only two new infections arose in Victoria on Tuesday. Victoria was plunged into a one-week “circuit breaker” lockdown on 27 May, but…  Read more

If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is dangerous, however. Not knowing your company’s financial situation can result in a series of missteps that could ultimately cost you…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. VIC: Melbourne’s Lockdown Fate Hangs in the Balance Authorities are locked in emergency talks about placing Melbourne in a five-day lockdown. A fresh cluster of COVID-19 cases in Victoria has grown to 15 in three days, and the next 24 hours are particularly critical as some of the infected…  Read more

Boutique Firm 2021 Finalist Superannuation Specialist Accountant 2021 Finalist The Australian Accounting Awards recognises and acknowledges the achievements of individuals and firms whether they are in the profession’s most senior ranks or if they’re a rising star within the industry and rewards them with a prestigious and highly sought-after accolade and national exposure for their contributions. The 2021 awards will be like no other, shining a light on the professionals…  Read more

Treasurer Josh Frydenberg has released the 2021 Federal Budget and confirmed Australia’s economy is performing more strongly than was expected six months ago. This article has a summary of the “Winners and Losers” of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any questions. A Quick Overview This budget assumes our international borders won’t reopen until mid-2022. $1.9…  Read more

As expected, this year’s Federal Budget has a strong emphasis on job growth and women’s security. From an SMSF perspective, there were some welcome surprises for SMSF trustees, the key measures that you should be aware of are outlined below. All measures outlined below, other than the proposed changes to legacy retirement products, are expected to commence from 1 July 2022, once they have received Royal Assent. Repealing the work…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia to Reopen Doors to India Australia will lift a ban on its citizens returning from COVID-ravaged India next week, as state officials reported that an outbreak in Sydney appeared to be contained. The Prime Minister stood by his decision to impose a biosecurity order last month barring all…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Perth Dodges New Lockdown West Australian Premier Mark McGowan announced on Sunday that there will be no second snap-lockdown in Perth, but COVID-19 restrictions will still be imposed after reports that a hotel quarantine security guard and two of his housemates tested positive for the virus. Nightclubs will be…  Read more

Many entrepreneurs start their business with the goal of earning an income for themselves, but they often think of the business only in terms of them running it. In truth, there is a huge benefit to starting a business either with the goal of selling it or at least setting it up so it can be sold at some point in the future. You don’t have to plan on making…  Read more

There are many people who believe that when it comes to investing, nothing beats real estate. This may be true, but you still have to be smart when making your real estate investment decisions. Although investment properties can be a savvy financial move, there is plenty that can go wrong if you don’t fully understand the market, the types of investment properties, and your current financial situation. 1. Know your…  Read more

What is a Fringe Benefits Tax? Fringe benefits tax (FBT) is completely separate from income tax. It is paid on certain benefits provided to employees or their associates (generally family members), including directors or beneficiaries of a trust, working in the business. Examples of fringe benefits include: allowing an employee to use a work car for private purposes giving an employee a discounted loan paying an employee’s gym membership providing…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia Drops COVID-19 Vaccine Target Prime Minister Scott Morrison said he won’t set a new target date for Australians to get vaccinated, as concerns about the AstraZeneca vaccine and European export restrictions delay the rollout of the programme. Despite this, Australia is still ahead of some nations including Canada,…  Read more

The Australian Government’s JobKeeper scheme is set to end on the 28th March 2021. Since this program was introduced in March last year, it has provided a lifeline to many businesses, protected jobs, and helped protect Australia’s economy. Now that it’s about to end, you may be worried about your business. We’ve compiled our top tips to help you prepare your business for what’s next. Create a cashflow forecast. Cashflow…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Trans Tasman Travel Bubble to Begin 19 April Australia and New Zealand will create a quarantine and COVID-testing free travel bubble starting 19 April. However, flights to and from some Australian states may cease if there are future outbreaks. Australians made up 1.5 million or 40% of arrivals to…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Phase 1B of Vaccine Rollout Begins Phase 1B of Australia’s COVID-19 vaccination rollout plan started this week to further cushion the health, social, and economic impacts of the pandemic. Priority groups in Phase 1B include: elderly adults aged 80 years and over elderly adults aged 70 years and over…  Read more

At face value, it seems like a great idea. If you’re a small business owner with just a few employees, you probably think that hiring a payroll specialist is an expense that you can avoid. You feel that you can handle it yourself. You have the best intentions to keep your staff paid right and on time. What could go wrong, right? Well, lots actually. Below are the reasons why…  Read more

When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge is stressful, but it’s worth it. If your business doesn’t bring in enough money to pay…  Read more

Some small business owners find themselves in the difficult position of running a business that appears to be profitable, but still having no money in the bank. It’s an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three reasons profitable businesses have little money in the bank, and what business owners can do to…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Phase 1b Vaccination Roll Out to Commence on 22 March 2021 Phase 1b vaccinations will commence on 22 March 2021, and more than 1,000 general practices will join the COVID-19 vaccination program from next week to further strengthen the capacity and ensure an efficient distribution of vaccines across the…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. COVID-19 Vaccination Drive On Track, Says PM Prime Minister Scott Morrison said the vaccination drive against COVID-19 is on track to meet the target of having everyone inoculated by October, despite delays. As of 7 March 2021, the total number of people who have been vaccinated stands at 86,369.…  Read more