Communicating with your bank

13 March 2025 No Comments

Communicating with your bank during times of financial distress requires honesty, transparency, and a proactive approach. By understanding your financial situation, presenting a clear plan for recovery, and exploring assistance options, you can work collaboratively with your bank to navigate through challenging times. Remember, banks have a vested interest in helping your business succeed and are often willing to provide support and guidance to achieve a positive outcome.

Types of business finance

12 March 2025 No Comments

This article aims to provide a comprehensive overview of the different types of business finance available in Australia, helping business owners and entrepreneurs make informed decisions about funding their operations and growth.

What is a restructure?

11 March 2025 No Comments

A business restructure is a complex and challenging process, but it can also offer a pathway to renewed success and sustainability for companies facing challenges or looking to better position themselves for the future. It requires careful planning, clear communication, and strong leadership to navigate the changes effectively. For businesses in Australia undergoing a restructure, seeking advice from professional business advisors, accountants, and legal experts can provide valuable support and guidance throughout the process.

Reading your financial statements

10 March 2025 No Comments

For business owners in Australia and elsewhere, the ability to read and understand financial statements is crucial for steering the company towards success. These documents offer a comprehensive overview of your business’s financial performance and condition, providing the foundation for strategic planning, financial management, and growth initiatives. If you’re not already familiar with interpreting these statements, consider seeking training or guidance from financial professionals to enhance your financial literacy.

Should you retain premises

7 March 2025 No Comments

The necessity of retaining physical premises in the post-pandemic world is not a one-size-fits-all decision. It requires a careful evaluation of your business’s specific needs, operations, and the well-being of your employees. For many businesses, embracing a work-from-home model can lead to cost savings, happier employees, and even increased productivity. However, it’s essential to implement strategic planning, provide the necessary tools and support, and maintain a strong company culture. As the work landscape continues to evolve, flexibility and adaptability will be key to navigating the future of work successfully.

Selling plant and equipment

6 March 2025 No Comments

Selling plant and equipment can have significant tax implications for Australian businesses. Understanding these implications, including CGT, GST, and depreciation recapture, is crucial for compliance and tax optimisation. Given the complexities involved, seeking professional tax advice is recommended to navigate the tax considerations effectively and make informed decisions about the sale of business assets.

Payroll Tax Management

5 March 2025 No Comments

Understanding and managing payroll tax is an essential part of running a business in Australia. The state-based nature of the tax means that rules, rates, and thresholds can vary significantly, so it’s important to stay informed about the requirements in each state or territory where you employ people. Considering the complexity and variations of payroll tax, consulting with a professional tax agent or advisor who is familiar with the specific laws of your state or territory can provide valuable guidance and help ensure compliance.

Growth for growth’s sake

4 March 2025 No Comments

Growth is an essential aspect of business success, but it should never be pursued for its own sake. By ensuring that your growth initiatives are strategically aligned, financially sustainable, operationally supported, and risk-managed, you can achieve meaningful growth that contributes to the long-term success and stability of your business. Always remember, the quality of growth is far more important than the speed or size of growth.

Business plan? Now!

3 March 2025 No Comments

Writing a business plan requires time, effort, and a deep understanding of your business’s potential market and financials. While it may seem daunting, the process of writing a business plan can significantly clarify your business’s vision and direction, making it an invaluable exercise for any business owner.

Understanding business depreciation

28 February 2025 No Comments

Understanding and effectively managing tax depreciation on equipment can lead to significant tax savings and improved cash flow for your business. It’s a complex area, requiring careful consideration of the methods and rules set by the ATO. Consulting with a professional tax agent or accountant can help ensure that your business maximises its depreciation claims while adhering to tax laws and regulations. This strategic approach to tax depreciation can significantly impact your business’s financial health and long-term success.