There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with cash. A business can make a lot of sales, have a book […]
Those team rewards and benefits could cost you more than you think…… Everyone loves a freebie or some type of work perk and they are a great way to reward the team for a job well done, however it is important to remember that some perks are subject to Fringe Benefits Tax. The ATO defines […]
In this our 30th year we want to say thank you, to our valued clients, the core purpose of our business our supplier partners who help us keep the lights on our team, without who we wouldn’t be the business we are today Our special congratulations are extended to our founder David Leddy, for this […]
Think back to the days before you started your business, when you were working for a boss. Chances are you were rewarded for your hard work with a regular salary. It may not have always been the same amount, but it came through like clockwork. And for the next week, month or however often […]
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“You need to work on your business, not just in your business.” Made popular by The E-Myth Revisited author Michael Gerber, it’s advice I’m sure you’ve heard dozens of times over the years (I certainly have). But despite being told over and over again, many small business owners still don’t seem to truly understand what […]
The write-off threshold of $20,000 has been extended to 30 June 2018. If you buy an asset and it costs less than $20,000, you can immediately deduct the business portion in your tax return – BUT HURRY, as this will reduce to $1,000 from 1 July 2018. You are eligible to use simplified depreciation rules […]
You need to know that the deductibility changed from 1 July 2017. From 1 July 2017, travel expenses relating to inspecting, maintaining, collecting rent, or attending management meetings for a residential rental property cannot be claimed as deductions by investors. The changes are now law. Excluded travel expenses include air fares, motor vehicle, hire car, […]
Every business has pain points that impact on performance. While a myriad of cloud-based solutions include products for bookkeeping, marketing, HR, stock control, wages and more, it’s important to consider if these solutions will actually fix the problem. At DLA Partners, we consider cloud-based options from a different perspective. Our first question is not ‘What […]
by Debbie Reed, Director Without a valid and appropriate Will, sole directors who are also sole shareholders may leave an uncertain future for their loved ones. Individuals who are both sole company director and sole shareholder run a great risk if they do not have a valid and appropriate Will in place. The consequences of […]
by Terry Edwards, Director If your business employs workers, your legal obligations towards them vary depending on whether they are an ‘employee’ or a ‘contractor’. Getting it wrong may result in penalties for the business, so it is well worth checking the working arrangements you have in place. If you are not meeting PAYGW, super, […]