Tips for choosing a small business bank

Finding the right bank to serve your small business needs can be a daunting task. With so many competing financial institutions to choose from, business owners simply don’t have the time for the in-depth research required to carefully weigh all the options. This guide to choosing a small business bank will help you narrow down your choices so you find the best fit for you. Small, medium, or large? You…  Read more

The advantages of Receipt Bank

Is it too hard keeping records of all your receipts, bills and invoices, finding somewhere to store them all in one place so that they are ready for BAS and Tax time? Well this could be the solution for you. Receipt Bank allows you to keep track of all the above in an efficient manner by simply taking a photo or sending an email. Receipt Bank will read key information…  Read more

2018/19 FEDERAL BUDGET

Personal income tax changes Targeted tax relief to low and middle income earners The Government will introduce the Low and Middle Income Tax Offset, a non-refundable tax offset of up to $530 per annum to Australian resident low and middle income taxpayers. The offset will be available for the 2019, 2020, 2021 and 2022 income years and will be received as a lump sum on assessment after an individual lodges…  Read more

10 Daily Habits of the Rich and Powerful

  It’s the little things that make up the big things. Here’s a list of ten traits of some of the movers and shakers in the world today (and from the past). 1. They Stay Healthy Health is make-or-break. If you have it, your life will take on meaning like you couldn’t otherwise know; but if you don’t have it, you will only accomplish a comparatively small percentage of what…  Read more

10 Money-Saving Tips for Freelancers

While working at home as a freelancer sounds like the ultimate dream for anyone who tires of the rat race, freelancers still have more than their fair share of financial matters to worry about. In fact, perhaps the most important trait that any freelancer should have is the ability to be fully responsible and accountable to themselves, and saving money is something that you will be wholly responsible for.  …  Read more

Is technology making you less efficient?

“For a list of all the ways technology has failed to improve the quality of life, please press three.”  Alice Kahn If you feel overwhelmed by the sheer volume of technological gadgets out there, never mind apps and other digital “solutions”, you’re not alone. Technology sprawl and the rabbit hole of more and more information, available all the time, is making productivity—and healthy downtime—a real challenge for many of us. Although…  Read more

Does “mindfulness” have a place in business?

According to Google, which offers employees a course on mindfulness meditation, and Lululemon, a company that keeps a Director of Mindfulness on staff, the answer is a resounding yes. Mindfulness, as American scientist Jon Kabat-Zinn defines it, is simply “paying attention in a sustained and particular way – on purpose, in the present moment and non-judgmentally.” Research has shown that practicing mindful meditation can lead to reduced stress, lowered blood…  Read more

Hobby or business?

  Have you got a hobby that you’ve managed to make a little bit of money from? Whether it’s candle making or restoring vintage bicycles and then on selling them, you may need to declare this income. If you tick yes to one or more of the following indicators, you are more than likely running a business; Do you have a website which operates as a ‘shop’; Do you have…  Read more

Christmas Gifting

The Festive Season is an exciting of year full of celebrations, delicious food and of course gift giving. Waistlines and budgets are both stretched this time of year and can leave people wondering if the overindulgence was necessary. If you’d like to incorporate some goodwill into your gift giving this festive season, think outside the box and consider making donations of your family’s behalf. A little amount of money goes…  Read more

Tax incentives for investing in affordable housing

In the 2017-18 Federal Budget the Government announced a series of measures intended to improve housing affordability in Australia.  To entice investors, the Government is providing an increase in the CGT discount for individuals who choose to invest in affordable housing. The draft legislation enabling this change has now been released so we can see the detail. There are two aspects to these changes. Firstly, individuals who make a capital…  Read more

Deductions

  Each year the Australian Tax Office audits many tax returns, they pay particular attention to people claiming higher deductions than expected.  Use the following tips to ensure you aren’t caught out. Justify your claims Only claim deductions on items you genuinely need to do your job. If you have a desk phone, and can make all work-related calls on that, you cannot claim mobile phone expenses. Most employers will…  Read more

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