The value of cashflow forecasting for your business
Projecting your cashflow pipeline forwards is vital. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard your cash position. Plus, when you have access to detailed forecasts […]
Improve your work-life balance
Most of us aim for work-life balance in our business, but it can be a tricky thing to do when everything gets busy. Here are 5 tips that can assist at any time of year. Running a small business can be rewarding but also overwhelming – with early starts, long days and often no weekends. […]
Tips for dealing with economic uncertainty in your business
With political changes and an economic slowdown to contend with, we’re in pretty unpredictable waters. Here are some tips on managing your team in times of uncertainty: Support staff wellbeing Talk to staff about wellbeing regularly and openly. Let your team know it’s okay to feel stress or anxiety. Regularly remind your people where to […]
2024–25 Federal Budget Highlights
The Federal Treasurer, Dr Jim Chalmers, handed down the 2024–25 Federal Budget at 7:30 pm (AEST) on 14 May 2024. Described as a “responsible Budget that helps people under pressure today”, the Treasurer has forecast a second consecutive surplus of $9.3 billion. The main priorities of the government, as reflected in the Budget, are helping […]
Understanding QBCC Regulations for Construction Projects
QBCC regulations for construction projects are vital for maintaining compliance and steering clear of potential penalties. One critical component to understand is the instant asset write-off, a valuable provision that enables eligible businesses to claim the full expense of assets purchased and utilized within the current financial year, rather than spreading out depreciation over time. […]
Low-and Middle-Income Tax Offset: Understanding Its Impact on Your Finances
The Low-and Middle-Income Tax Offset can play a crucial role in shaping your financial landscape. This government initiative aims to provide tax relief for individuals with lower to middle incomes, offering a helping hand when it comes to managing your finances effectively. Understanding how this offset works and how it can benefit you is essential […]
Your upcoming tax calendar for May and June
As we come to the end of April, we have our final 2 months to finalise tax planning for the 2024 income year. Despite the need for tax planning, May and June are also critical months to ensure all your tax lodgments are complete to avoid any penalties. In order for you to be across […]
Outstanding tax debts? ATO warns about disclosure to CRAs
The ATO has shifted its focus from providing assistance with tax through the pandemic to now re-establishing the culture of businesses paying their tax debts on time. Beginning from July 2023, The ATO has issued notices of intent to disclose business tax debts of more than 22,000 businesses with a tax debt of at least […]
Can an AI assistant streamline your business?
A business AI assistant is an artificial intelligence-powered software tool that’s designed to support and enhance different areas of your business administration and management. These AI assistants (sometimes known as virtual assistants or chatbots) use natural language processing (NLP), machine learning and automation to interact with you, your team and your customers. They can give […]
5 steps to better cashflow
Need a hand managing cashflow? You’re not alone. The key is getting your invoicing right, by invoicing customers as soon as possible and using tools like Xero’s invoice reminders to move payments along. That said, there are a few other simple rules you can apply to manage your cash flow and get your invoices paid […]
