Employers with 19 or fewer employees are temporarily exempt from reporting ‘closely held (related) payees’ through Single Touch Payroll enabled software. The exemption deadline has been extended from 1 July 2020 to 1 July 2021 as part of the ATO’s response to the COVID-19 situation. A closely held payee is an individual directly related to […]

Improving your SEO ranking is an important step to developing your business’ digital presence and increasing web traffic onto your website and social media pages. SEO refers to search engine optimisation and improving it allows your business to top search results as the first link to come up, thereby ensuring credibility and attracting more relevant […]

For entrepreneurs endeavouring to grow their business, the prospect of marketing on a small budget may seem overwhelming and impractical. However, there are many cost-effective ways you can market your products and services. Maximise social media efficiencyPutting in the effort to create your own social media posts, blogs, and other marketing material can save you […]

Small business owners are often faced with stressful financial decisions and periods of uncertainty. Having a cash flow forecast can help your business avoid cash shortages by allowing you to track whether your spending is on target, prepare for business expansion, plan for upcoming cash gaps and plan budgets. Here are some tips on cash […]

Small businesses coming out of COVID-19 may be looking to expand and grow as quickly as possible to prepare for a changing economy. One of the ways you can effectively grow your business is by improving your hiring strategy and making sure it is efficient. Analyse and catalogue your needsTo make sure your hiring process […]

An effective way to maximise returns as a property investor is to claim depreciations on your investment properties. Depreciation gains can be maximised by using a quantity surveyor to identify your property’s individual assets that are eligible for deductions under ATO regulations. A quantity surveyor is a licensed cost manager who assesses your property onsite, […]

Property is a common investment option for SMSFs, however, the ATO has a number of regulations SMSF owners need to be wary of. The ATO is particularly concerned with those using SMSF assets to invest in property in a way that is detrimental to retirement purposes. To ensure you do not breach provisions of the […]

Contributions made on behalf of your spouse to a complying superannuation fund or a retirement savings account (RSA) may be eligible for a tax offset. The 2019/2020 tax rules allow you to claim an 18% tax offset on super contributions up to $3,000 on behalf of your spouse. While you are able to contribute more […]

Demonstrating strong interpersonal skills in the workplace can boost your performance and improve your experience at work by promoting positive workplace relationships. Interpersonal skills that will help employees thrive amongst each other can include communication skills, negotiation, problem solving, teamwork, decision making, empathy and assertiveness. Here are some ways you can develop your interpersonal skills […]

A fringe benefits tax (FBT) is a tax paid on benefits provided to employees (usually non-cash). FBT is calculated based on the gross taxable value of benefits employers provide to their employees. Employees must lodge their return and pay the total FBT amount they owe for the previous FBT year. Due to COVID-19, the FBT […]