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Is your cost of sales affecting your gross profit?

Do you know how much it costs you to produce each product or service in your range? The better you can understand this cost of sales – or cost of goods sold (COGS), as it’s more commonly known – the more ability you have to control your company’s profitability. When you know your COGS, you […]

RBA Interest Rate Announcement 7th September 2021

At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent. Prior to the Delta outbreak the Australian economy had considerable momentum. GDP increased by 0.7 per cent in the […]

Why bookkeeping is essential for your small business

As a small business owner, do you need a bookkeeper, an accountant, or both? Bookkeepers can seem a little mysterious. In fact, they deal with the organisation, the recording and the reporting of financial transactions of a small business. Simply put, a bookkeeper clears the way for the accountant to work with your business strategically. […]

Inventory Management Best Practices for Retailers

In a competitive market, knowledge is key to business success. Modern inventory tracking technology will give you the insights to ensure you fulfill the needs of your customers and ultimately drive sale. Inventory management is incredibly important in retail and yet studies reveal that 43% of small businesses either don’t track inventory at all, or […]

Taxable Payments Annual Report (TPAR) for 2021

The taxable payments annual report (TPAR) reports to the ATO information about payments made to contractors for certain services. TPAR for the building and construction industry has been in place for some years. In recent years, cleaning services, courier services and some government entities have been added to the system. Last year, taxable payments reporting […]

Using the Value Ladder to increase sales

One of the best ways to increase sales is to use the Value Ladder to build a relationship with your customers. The higher the customer values their relationship with you, the more money they’re willing to spend. On the bottom rung of the Value Ladder, we have an initial offer of value. This should be […]

RBA Interest Rate Announcement 3rd August 2021

At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent. The economic recovery in Australia has been stronger than was earlier expected. The recent outbreaks of the virus are, […]

Important tax dates and obligations Q3 2021

Key tax & lodgement dates for the July – September quarter 2021 21 July Lodge and pay June 2021 monthly business activity statement. 28 July Lodge and pay June 2021 quarterly BAS if electing to receive and lodge by paper and not an active STP reporter. Make super guarantee contributions for June 2021 quarter to […]

Getting back to business

Success in 2021 will look different to previous years. Have you defined what success looks like for you in 2021? Are you focusing on what you can control in your business in the current Sydney lockdown? We can help you with your plan and help you GET BACK TO BUSINESS. It goes without saying that […]

Quarterly economic update April – June 2021

Employment surprise JobKeeper was a cornerstone of Australia’s response to the coronavirus pandemic. It provided millions of Australians with an ongoing income and kept thousands of businesses afloat, so when it came to an end in March expectations were that there would be a sharp spike in unemployment. One estimate was that 150,000 workers would […]

Super Legislative update

On 18 June 2021, several bills containing important superannuation measures which will impact employers and their employees passed both Houses of Parliament and have become law. Super fund stapling As part of the ‘Your Future, Your Super’ reforms, which aims to make the superannuation system deliver better outcomes for members, the Government has announced a […]

The ‘what, why and how’ of contributing to super

Despite frequent changes to its governing rules, superannuation remains, for most people, a tax-effective environment in which to save for retirement. Following the start of a new financial year, here’s a quick Q&A on the what, why and how of contributing to superannuation. Why should I contribute to super? Some super contributions and the investment […]

Super in your 20’s. Boring? Doesn’t have to be!

Superannuation is for the oldies, right? In some ways that’s true, but even in your twenties there are good reasons to take a bit more interest in your super. The average 25-year-old has around $10,000 in super, but the decisions you make now, even with relatively small sums of money, could earn you hundreds of […]

The greatest challenges facing future retirees

Most working Australians aspire to the idea that they’ll reach a point where they can retire debt-free and with enough money in their superannuation fund – perhaps supplemented by the age pension – to provide them with a comfortable standard of living in retirement. For many that remains a reasonable aspiration, but a growing range […]

Government support for your business

What financial support is available this time around to help you and your business through the challenges of the next few months of lockdown and COVID-19 restrictions? #lockdownsupport As Australia goes into a new wave of Covid-related lockdown, businesses again face the challenges of social distancing, the wearing of face masks and other restrictions. All […]