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Stimulus #2 – Bigger, better and far more impact

The Second $66.1 bn Stimulus Package: What You Need To Know The Government yesterday released a second, far-reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are not yet legislated. Parliament will reconvene on Monday 23 March. The Prime Minister has warned that there are no “quick solutions” and …

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What is your Continuation Plan?

Today we put out our live video to help clients connect and take action to get their house in order. It’s important to get off on the right foot, “Most people aim at nothing – and they hit it with alarming accuracy.” The Business Edge Accountants team are here during these difficult times to support and provide positivity to you and your business! As a business owner, there’s one key thing you need to totally focus on now …

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The Stimulus Package: What You Need To Know

The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four-part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated depreciation deductions Cash flow assistance for small and medium-sized business Tax-free payments up to $25,000 for employers Wage subsidy of up to 50% …

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COVID 19 – what is your business doing next?

“Most people aim at nothing – and they hit it with alarming accuracy.” The Business Edge Accountants team are here during these difficult times to support and provide positivity to you and your business! As a business owner, there’s one key thing you need to totally focus on now – keeping your business alive during these difficult times. It’s not all doom and gloom either – withstanding the tough times sets a business up to be a …

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Disaster Planning, for YOUR Business

Surviving a crisis: Coronavirus and beyond Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses. Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to impair Australian and global economic growth. Let’s explore the impact on business and the importance of planning for setbacks beyond your control. Whether it is the coronavirus, fire …

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Get more time back with Hubdoc and new habits

Hubdoc is like a digital filing cabinet for all your invoices and receipts. But, it’s better than a filing cabinet because you can access it, or send information into this filing cabinet from anywhere in the world. With Hubdoc, you can automatically import all your financial documents & export them into data you can use. As your trusted advisors, we can access your account, sort your information, and easily find receipts years later with a powerful search …

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Superannuation Guarantee Amnesty now law

The long-awaited superannuation guarantee amnesty passed Parliament late last month. Employers who have fallen behind with their SG payments now have 6 months to ‘self-correct’ under the amnesty. But, with the amnesty comes additional penalties if employers fail to take advantage of this one-off opportunity. The Bill containing the one-off superannuation guarantee (SG) amnesty has finally passed through Parliament and awaits Royal Assent. The amnesty only relates to SG liabilities arising in relation to quarters up to …

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Single Touch Payroll – options for late adopters

Small employers were required to transition to reporting through STP by 30 September 2019. Hundreds of thousands of small businesses are yet to register and are on the ATO’s radar. If any clients who have not yet commenced using STP the ATO has provided some guidance for these taxpayers encouraging them to contact the ATO as soon as possible to assist with the transition process. Clients who have not commenced using STP have three broad options: Obtain …

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What’s in the forecast?

When we set out on a fishing trip or hike, we always check the weather forecast. It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the direction we’re heading. Your forecast will tell you: Whether you have enough sales in the pipeline to give you the desired level of profit you want for the year. Whether your margins are appropriate. If you need to review your pricing …

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Do you have a client scheduling procedure?

It’s important to be prompt and organised when scheduling appointments, as your clients need to feel important and valued. Having a process and plan to make sure this is happening correctly in your business is essential. 1. Administrator reviews appointments first thing each day. Your first appointment may be at 9am, so you need to be ready. An unorganised business is not a good first impression. 2. Appointments shouldn’t be made prior to 9am or after 4.30pm, …

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