Underpaying employees occurs when workers are paid less than the minimum wage or are not provided with their correct entitlements and benefits as stipulated by Australian employment laws. Key factors …
A ‘death benefit nomination’ is a legal document that allows a superannuation fund member to specify who should receive their superannuation benefits in the event of their death. When a …
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An ATO payment plan allows you to break down your payment into smaller amounts made via instalments and spread over a fixed period. Within a payment plan, you pay an …
When it comes to running a thriving business, understanding and effectively managing your working capital is crucial. Essentially, working capital is the cash readily available for the day-to-day running of …
Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. …
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In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small …
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Starting a business is a wild ride with its fair share of ups and downs. One hurdle many new entrepreneurs encounter is the difference between the profits they expected and …
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Small business owners face a common set of challenges – limited HR or admin staff, long hours, and endless pressures. A new free service offers coaching in problem-solving and stress …
As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance …
Asset protection refers to the strategies used to safeguard wealth and assets from potential risks, such as lawsuits, creditors, and financial downturns. Asset protection aims to create a barrier between …
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The Commissioner of Taxation wields considerable authority under subsection 126A(2) of the Superannuation Industry Supervision Act 1993. Under this act, the ATO Commissioner is authorized to disqualify individuals from acting …
Read More… from Why you could be disqualified as the Trustee of your SMSF
In the business world, cash flow remains the lifeblood that keeps your operations running smoothly. Whether you’re a start-up finding your feet or a seasoned business, maintaining a steady cash …
Read More… from The ultimate guide to improving business cash flow
So, you have a great idea. You have dreamed of how it can work and everything adds up in your mind. You are confident that it could grown into a …
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Xero Beautiful Business Fund applications are now open! Xero recently announced the launch of the Xero Beautiful Business Fund. Itʼs their new initiative, backing small businesses for the future. What …
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Every business encounters financial challenges at one point or another. But when the going gets tough, just remember that you’re not without options. One practical strategy that can help you …
Read More… from Navigating financial pressure: a guide to asset liquidation for your business
According to a recent survey from PwC, 60% of full-time employees are stressed about their finances, and more than half reported that this stress impacted their sleep, mental health, and self-esteem. It’s …
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Assessing the viability of your new idea is an essential part of market research. While seeking input from friends and family is common, gathering information from the market itself can …
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Even if you have outsourced your financial functions, as a small business owner, it is crucial to have a solid understanding of key financial concepts to work with your advisor …
Read More… from 10 concepts every small business owner needs to understand
Here are seven reasons why it’s critical to use the correct structure for your business: Liability Protection: Some businesses, such as companies, offer limited liability protection. This means the business …
As a business owner, it’s crucial to understand the power of social media marketing. Social media platforms provide an opportunity for businesses, no matter the size, to reach a larger …
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