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Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to do this, either because you’re too busy, or perhaps you don’t really understand what you’re looking at and it...

Managing the gap between the receiving money into your business and paying money out of your business is vital for sustaining viability. Debtor days is the average number of days taken for a business to receive payment for goods or services. Keeping track of the average...

If you have been reporting Single Touch Payroll (STP) to the ATO this financial year, you will need to make a finalisation declaration. There is no need to issue payment summaries to employees you have reported through STP. Large employers (with more than 20 employees) must...

The full details of the Morrison Government's highly anticipated new HomeBuilder grant have been revealed. If you have been putting off that renovation or new build, now is the time to get started. What is the HomeBuilder Grant? HomeBuilder is a government grant to help the residential...

The end of the tax year will soon be upon us with 30 June just around the corner. This year more than ever it’s important to get your records and tax return correct because of the unusual business circumstances and JobKeeper payments. Are you claiming all...

It’s not easy to request payment right now, but it is important to keep cash flowing into your business so you can cover expenses and meet your obligations to others. As with all business dealings right now, a little empathy and a lot of open...

With the vast amount of information being released it can be hard to not only keep up to date, but understand what the information means for you and your business. We have summarised the key initiatives of the stimulus package (stages 1 & 2) below...

  The Government has announced a $17.6 billion economic stimulus package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated package focuses on maintaining business confidence, supporting investment, and driving cash into the economy. The Key Tax Measures include: •...

Whether you are purchasing your first or fifth pharmacy, it is a significant investment, especially given the high value of pharmacies in Australia. Your priority is to ensure that you are making the right decision, whilst reducing risk and not overpaying for the pharmacy asset.   What...

Many Australian’s aren’t aware that as a taxpayer you have a right to “plan” how much tax you pay in the next financial year. This is done by legally organising your tax affairs in the most effective way prior to 30 June.