It’s never too early to have business risk management processes in place. No matter the size of your business, it’s important to identify where the potential pitfalls exist within your business that can put not only your profits at jeopardy but your entire business’ existence. When I first started my business, this was extremely high…
When winding up a company, you must follow the correct process to ensure that your proprietary limited company has officially ceased to exist. Without doing so, you are still obligated to perform regulatory reporting and incur fees on an annual basis. Furthermore, the company will be at risk for exposure to future liabilities that may…
If you’re a small business and looking to increase productivity and organisation, there are some must-have apps small business owners! it’s important to utilise the power of apps and software that can greatly increase the production of your business. In this article, we not only cut through the noise of seemingly endless sea of business…
Understanding Employer Obligations As an employer, it’s imperative to understand that your employer obligations extend further than the monetary compensation owed to your employees. Australia’s extensive legislation revolved around employer obligations, and employee rights remains a treacherous area for many inexperienced business owners to navigate. Below, we explore the obvious and not so apparent obligations…
Are you starting your own business? Starting a business is an exciting time for any entrepreneur. Often times, this can be bogged down by the legal landscape of business registrations and the accompanying paperwork that is often involved in ensuring your business is legally permitted to operate in Australia. Without the assistance of an accountant,…
So you’ve decided that you’re going to be working as a contractor in your industry. Great work! Contractors run their own business and the potential to generate a large income is an attractive option. However, with great reward, comes to a lot more responsibilities. In this guide, we go through some of the pitfalls that…
If you are someone who works in the construction or building industry then you may be entitled to construction industry long service leave. What is Long Service Leave? Long service leave refers to an extended period of leave awarded to employees who have been employed by the one employer for usually ten (10) years. This…
Self-Managed Super Funds (SMSF) are an increasingly popular option that many Australians appear to be shifting towards. Fundamentally, SMSFs are a way for Australians to have full control over their investment options. However, there remain main legal, financial and regulatory red tape that you must consider evaluating to assess whether an SMSF is a worthwhile…
If you have stumbled upon this article, then chances are you want to learn how to pay super as an employer to your employees. What is superannuation? To understand how to pay super as an employer, you must first know what Superannuation is. Superannuation is a contribution made by the employer on behalf of the…
Organising ATO payment arrangements can help with dealing with tax debts that can be stressful, especially with those unpaid monthly and quarterly amounts incrementally building very quickly. Many small and medium-sized business owners in Australia have a lot of tax to pay to the tax office and can’t afford it. Fortunately, payment plans with the…
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