2022 Minimum Wage Increase
The Fair Work Commission has this week handed down their decision in relation to minimum wage increases. From 1 July 2022, wages increased as follows: Min wage for award-free employees will be $21.38 per hour or $812.60 per week (an increase of 5.2%) Min award rates for award-covered employees will increase by 4.6% for individuals […]
COVID-19 Support Packages for Victorian Businesses & Individuals
A range of government support packages have been put in place for Victorian businesses & individuals impacted by the latest COVID-19 lockdowns: The Business Costs Assistance Program Round Two July Extension. The Business Costs Assistance Program Round Three. The Small Business COVID Hardship Fund. The Commercial Tenancy Relief Scheme. The Licensed Hospitality Venue Fund July […]
Tax Minimisation Strategies & the Benefits of Tax Planning for Businesses
If you are running a business, it is legal (and sensible) to implement tax minimisation strategies. Effective tax planning with a qualified accountant/tax specialist can help you to do that. Business is tough enough without paying more tax than you are legally obliged to pay. Tax avoidance on the other hand is illegal and attracts […]
Business Financial Lessons Learnt from COVID
COVID-19 has had a massive impact on businesses and the Australian economy. There are important financial lessons that businesses can learn from COVID-19 in order to recover as quickly as possible and to help ensure ongoing success. 1. Contingency planning is crucial There is an old saying that ‘those who fail to plan, plan to […]
How to Improve Your Business Performance
Read how you can improve your Business performance with benchmarking, restructuring and succession planning When entrepreneurs first establish a company, they’re often focused on achieving best practice and striving for success. With all efforts driving growth and productivity, they’ve rarely had time to consider their business’ comparable performance within the industry, or to imagine the […]
EOFY Checklist 2019 – End of Financial Year Important Dates + Tips For Businesses
Another financial year has finished! As a business owner, there are many obligations that you need to consider and action just after 30 June. Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit. We have outlined these action points below to assist you. Please carefully […]
