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The Biggest Financial Challenges in Hospitality & Retail – And How to Overcome Them
Running a hospitality or retail business is fast-paced and demanding. Whether you own a busy restaurant, café, grocery store, or convenience store, the daily pressures of operations can be overwhelming. While delivering great service and products is your priority,...
The Common Stories & Questions From Online Business Forums
We are members of a number of business focused forums, supportive groups providing guidance to business owners on a myriad of different questions across different aspects of owning/running a business.
Employee or Independent Contractor?
Differentiating between an employee and an independent contractor is an evolving and complex area of law. Significant penalties and charges may apply if the nature of a worker’s relationship is wrongly classified. This level of uncertainty and complexity is not ideal....
Loans and Payments by Private Companies
Did you know that failure to keep private expenses separate from company expenses may inadvertently give rise to a Division 7A dividend? With year-end fast approaching, we thought it timely to briefly discuss this topic, as well as how to manage any risks! What is...
Tax Planning
In this blog, we take a closer look at why all businesses should have a tax planning session with their accountant every year. What is Tax Planning? Tax planning can have some great benefits for any business, large or small. It involves evaluating the business’s...
eInvoicing
Electronic Invoicing (eInvoicing) Electronic invoicing (eInvoicing) is an Australian government initiative designed to make exchanging invoices and doing business more efficient. It is an important step in the digitisation of businesses across the nation, making the...
10 Ways To Protect Your Business From Online Threats 10 Ways To Protect Your Business From Online Threats
10 Ways To Protect Your Business From Online Threats Practice Protect Security Blog Supplied by Bizink Businesses of all sizes are under constant threat from cybercriminals and malicious software, with even some of the world's largest and apparently...
Director Identification Numbers
Director Identification Number (Director ID) A director identification number (Director ID) is a mandatory requirement for all company directors. From 5 April 2022, a first-time director will need to apply for a Director ID before their official appointment (that is,...
Single Touch Payroll (STP)
Single Touch Payroll (“STP”) Single Touch Payroll (“STP”) is a reporting framework that streamlines employers’ reporting obligations to the Australian Taxation Office (“ATO”) and other government agencies. In this blog, we take a closer look at this mandatory...
2021 Victorian COVID Support
The Victorian Government has announced a $400 million package, jointly funded by the Commonwealth Government, that will provide automatic payments to almost 100,000 eligible businesses in Victoria, including sole traders. Further hardship funds will be made available...
2021 NSW COVID Support Package
The purpose of this blog post is to provide you with a basic understanding of the current NSW 2021 COVID-19 support package as well as to assist you in determining your eligibility for financial support. We note that the rules have been moving so this is a guide only....
Individual Deductions – Car Expenses
Individual taxpayers using their own car (including a car that is leased or hired) to perform work-related duties, as an “employee”, may be able to claim a deduction in their annual income tax return for Car Expenses. In this blog, we take a closer look at the rules...